Experience Flexibility with IB I-Freedom
IB i-Freedom Current Account
IB –I Freedom Current Account — “Smart Account for Smart people”
| ELIGIBLE CUSTOMERS | Traders, Businessmen, Corporate Bodies, viz. Petrol Bunks, Retail and Wholesale customers, Wholesale agents, Corporates, Education Institutions and Government Departments, Y Gen customers, Professionals and Software Companies. | ||
| KYC REQUIREMENT | As applicable to Current Account | ||
| NATURE OF OPERATION | As per the constitution of the entity | ||
| VARIANTS | COOL | PLUS | PRIME |
| QAB (Quarterly Average Balance) | Rs.50,000 | Rs.1,00,000 | Rs.5,00,000 |
| CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE | Rs.500/-per month | Rs.1000/-per month | Rs.2000/-per month |
| CHEQUE BOOK | 50 leaves free per month | 100 leaves free per month | 200 leaves free per month |
| DEMAND DRAFT | 25% concession on the prescribed charges for DD | 50% concession on the prescribed charges for DD | Free |
| RTGS | Digital channel:
Quarterly 100 trans. Free, above 100 transaction card rate will apply Branch channel: 25% discount on Card rate |
Digital channel:
Quarterly 150 trans. Free, above 150 transaction card rate will apply Branch channel: 50% discount on Card rate |
Free |
| NEFT | Digital channel:
Quarterly 200 trans. Free, above 200 transaction card rate will apply Branch channel: 25% discount on Card rate |
Digital channel:
Quarterly 300 trans. Free, above 300 transaction card rate will apply Branch channel: 50% discount on Card rate |
Free |
| SMS ALERT | Free | Free | Free |
| NET/MOBILE BANKING | Corporate Net Banking Free | ||
| CASH DEPOSIT IN HOME BRANCH (CASH HANDLING CHARGES) | Free up to Rs.1.50 Crore in a Quarter, subject to maximum of Rs. 10 Lakh in a day.
Above 10 lakhs in a day normal charge shall be applicable Quarterly cash handling > 1.50 Crore Charges apply Rs 1 Per 1000 (Min 100 Max 5000) |
Free up to Rs.2.25 Crore in a Quarter, subject to maximum of Rs. 12 Lakh in a day.
Above 12 lakhs in a day normal charge shall be applicable Quarterly cash handling > 2.25 Crore Charges apply Rs 1 Per 1000 (Min 100 Max 5000) |
Free up to Rs.3 Crore in a Quarter, subject to maximum of Rs. 20 Lakh in a day.
Above 20 lakhs in a day normal charge shall be applicable Quarterly cash handling > 3 Crore Charges apply Rs 1 Per 1000 (Min 100 Max 5000) |
| CASH DEPOSIT IN NON HOME BRANCHES | Rs. 50,000 per day – free
· Deposits in excess of Rs.50, 000 per day will be charged [at] Rs1 per Rs.1000, minimum of Rs.25/- per transaction. (No cash handling charges) |
Rs. 50,000 per day – free
· Deposits in excess of Rs.50, 000 per day will be charged [at] Rs1 per Rs.1000, minimum of Rs.25/- per transaction. (No cash handling charges) |
Rs. 50,000 per day – free
· Deposits in excess of Rs.50, 000 per day will be charged [at] Rs1 per Rs.1000, minimum of Rs.25/- per transaction. (No cash handling charges) |
| CASH WITHDRAWAL IN NON-HOME BRANCHES | Up to Rs.50000/- Free >Rs.50000/- Rs.2/- per 1000/- with a minimum of Rs.25/- | Up to Rs.50000/- Free >Rs.50000/- Rs.2/- per 1000/- with a minimum of Rs.25/- | Up to Rs.50000/- Free >Rs.50000/- Rs.2/- per 1000/- with a minimum of Rs.25/- |
| ACCOUNT KEEPING CHARGES | 3 pages free (3*40 transactions) excluding online transactions per quarter, charged Quarterly.
· For excess consumption over free entitlement, please refer service charges notification |
5 pages free (5*40 transactions) excluding online transactions per quarter, charged Quarterly.
· For excess consumption over free entitlement, please refer service charges notification |
Free |
| BUSINESS DEBIT CARD* *For features refer the service charges | Available | ||
| POS Machine | Free of cost, subject to min transaction by POS machine of Rs.75000/- per month otherwise monthly charges at Rs. 1000/- + GST. | Free of cost, subject to min transaction by POS machine of Rs.75000/- per month otherwise monthly charges at Rs. 500/- + GST. | Free of cost, subject to min transaction by POS machine of Rs.75000/- per month.
Rent free including data connectivity charges. |
| SERVICE CHARGES | All other service charges as per service charges notification. | ||
Note: All other terms and conditions as applicable to Normal Current Account /Credit cards shall apply for this product also
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