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Saturday, January 18, 2014

BoM launches savings bank deposit scheme

Bank of Maharashtra has launched a savings bank deposit scheme — Mahabank Royal Savings Account — exclusively for high net worth Individuals having a minimum monthly average balance (MAB) of Rs 1 lakh in their account.

The slew of benefits offered to the accountholder under the product includes assistance of a relationship manager, free accident death insurance cover (Rs 50 lakh personal air accident death insurance and Rs 10 lakh personal accidental death insurance), higher transaction limit on ATM-cum-debit card on merchant point of sale terminals, and free national electronic funds transfer/real time gross system transactions through Internet banking, the bank said in a statement.

Other benefits to the account holders include 50 per cent concession in the processing fees of all retail loans, 100 free personalised cheque leaves per annum, 50 per cent concession on annual maintenance charge of BoM-SBI co-branded Gold Credit Card, and free demat account facility for the first year.

S. Bharatkumar, General Manager, Bank of Maharashtra, said the scheme has been launched to attract new affluent customers besides deepening relationship with the existing savings bank customers.

Source: Thehindubusinessline


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