PNB SF Prudent Sweep for the accounts of institutions

Brief Feature of the Scheme

Parameters

Variants

Standard

Classic

Advantage

Eligibility

Accounts can be opened as per RBI directives for opening Saving Fund Accounts of eligible INSTITUTIONS.

Minimum Quarterly Average Balance

Rs. 1.00 Lakh

Rs. 5.00 Lakh

Rs.10.00 Lakh

Minimum Quarterly Average Balance

Rs. 1.00 Lakh

Rs. 5.00 Lakh

Rs.10.00 Lakh

Charges for not maintaining

Quarterly Average Balance

Rs.400/- per quarter

Rs.1000/- per quarter

Rs.1500/- per quarter

Minimum Balance for Sweep in and Sweep out facility

Rs.5.00 Lakh

Rs.8.00 Lakh

Rs.10.00 Lakh

Sweep-in and Sweep out in multiples of

Rs.1.00 Lakh

Rs.1.00 Lakh

Rs.1.00 Lakh

Frequency of Sweep

Every Tuesday. If Tuesday is holiday, then on next working day.

Every Tuesday. If Tuesday is holiday, then on next working day.

Every Tuesday. If Tuesday is holiday, then on next working day.

Period of FFD

7 days to 90 days

46 days to 180 days

46 days to 1 year

Concession in Cash Deposit Charges

Rs. 1.00 Lakh per day

Rs.2.00 Lakh per day

Rs.3.00 Lakh per day

Operational Modality

Debit mandates (clearing/ transfer/ cash) would be executed as under

The balance available upto Rs.5,00,000/- in the account would be utilized. For further debits, withdrawal from FFD in multiple of Rs.1.00 lakh on Last In First Out Basis (LIFO).

Debit mandates (clearing/ transfer/ cash) would be executed as under

The balance available upto Rs.8,00,000/- in the account would be utilized. For further debits, withdrawal from FFD in multiple of Rs.1.00 lakh on Last In First Out Basis (LIFO).

Debit mandates (clearing/ transfer/ cash) would be executed as under

The balance available upto Rs.10,00,000/- in the account would be utilized. For further debits, withdrawal from FFD in multiple of Rs.1.00 lakh on Last In First Out Basis (LIFO).

Loan/Overdraft Facility

No Loan / OD against FFD in account.

Freebies/Concessions

·         Upto two drafts with maximum amount Rs.25,000/- each in a calendar month.

·         No NACH charges

·         No RTGS/NEFT charges.

·         Upto five drafts with maximum amount Rs.50,000/- each in a calendar month.

·         No NACH charges

·         No RTGS/NEFT charges.

·         Upto ten drafts with maximum amount Rs.1,00,000/- each in a calendar month.

 

·         No NACH charges

·         No RTGS/ NEFT charges.

 

Other terms and conditions as per General Guidelines.

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