You are here: Home > Bank
All posts from

greaterbank.com Sampoorna Saving Deposit Scheme : Greater Bank

Organisation : Greater Bank, The Greater Bombay Co-operative Bank Ltd
Facility : Sampoorna Saving Deposit Scheme
Web Site : https://www.greaterbank.com/

Sponsored Links:
Want to ask a question / comment on this post?
Go to bottom of this page.

Sampoorna Saving Deposit Scheme :

Greater comforts in accessing your account with Greater Sampoorna Saving Deposit Account, the scheme which provides you the wider benefits than an ordinary savings account.

Related : Greater Bank SSS Simple Saving Scheme : www.statusin.in/22876.html

Greater Sampoorna is really a Sampoorna account as it is combination of a Saving Bank account with an add-on of a Term Deposit account. Save on charges & Earn through Greater Sampoorna!

Sponsored Links:

The features of ‘Greater Sampoorna Saving Deposit Scheme’ are as under :
Type of Depositors :
Individuals, Jt. Holders, Staff, Minor by Guardian, Body of Individuals, HUFs, Regd. Societies, Trusts etc.

Minimum Daily Balance :
The daily minimum balance of Rs.10,000/-.
Minimum Balance Charges :
Rs.500/- per quarter.

Basic Features :
** Nomination Facility
** Personalized Cheque-book facility
** Standing Instruction Facility
** Free ATM cum Debit Card
** 24×7 Instant fund transfer through IMPS

Additional Features :
Waiver of Charges for following facilities :
** Unlimited withdrawals through Cheque-book
** Charges for Stop Payment of Cheque

** ATM facility in BANCS network along with GBCB network
** Charges for Remittances through NEFT – Free unlimited NEFT transactions (Inward as well as Outward)
** Charges for E-TDS transactions

Interest Payment Greater Sampoorna Saving Bank Account :
Quarterly

Interest Payment – MOD FD :
Interest will be credited to deposit as per the option chosen by the customer i.e Monthly / Quarterly / Cumulative at the time of maturity of deposits. Deposit will be auto-renewed / credited to Greater Sampoorna SB account on maturity as decided by the customer.

Penalty for premature withdrawal :
Interest penalty will be charged in case of premature closure of fixed deposit either fully or partly as per existing guidelines.

O/D, Loan Facility :
Overdraft / Loan against MOD FDs facility not permitted.

About Us :
The Greater Bombay Co-operative Bank Ltd, more popularly known as Greater Bank, had its humble beginnings over five decades ago on 10th December 1952, when a small group of philanthropists got together to set up the Bank.

Though the founders were pursuing interests of their own, they decided to establish the bank with the sole motto of serving the community at large. With this end in view, they introduced attractive deposit and lending schemes relevant to the times.

FAQs :
What is RTGS System?
The acronym “RTGS” stands for Real Time Gross Settlement. RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a “real time” and on “gross” basis.

This is the fastest possible money transfer system through the banking channel. Settlement in “real time” means payment transaction is not subjected to any waiting period. The transactions are settled as soon as they are processed.

“Gross settlement” means the transaction is settled on one to one basis without bunching with any other transaction. Considering that money transfer takes place in the books of the Reserve Bank of India, the payment is taken as final and irrevocable.

How RTGS is different from Electronic Fund Transfer System (EFT) or National Electronics Funds Transfer System (NEFT)?
EFT and NEFT are electronic fund transfer modes that operate on a deferred net settlement (DNS) basis which settles transactions in batches. In DNS, the settlement takes place at a particular point of time. All transactions are held up till that time.

For example, NEFT settlement takes place 6 times a day during the week days ( 9.00 am, 11.00 am, 12.00 noon, 1.00 pm, 3.00 pm and 5 pm) and 3 times during Saturdays ( 9.00 am, 11.00 am and 12.00 noon).

Any transaction initiated after a designated settlement time would have to wait till the next designated settlement time. Contrary to this, in RTGS, transactions are processed continuously throughout the RTGS business hours.

Would the remitting customer get back the money if it is not credited to the beneficiary’s account? When?
Yes. It is expected that the receiving bank will credit the account of the beneficiary instantly. If the money cannot be credited for any reason, the receiving bank would have to return the money to the remitting bank within 2 hours.

Once the money is received back by the remitting bank, the original debit entry in the customer’s account is reversed.

What is the essential information that the remitting customer would have to furnish to a bank for the remittance to be effected?
The remitting customer has to furnish the following information to a bank for effecting a RTGS remittance :
1. Amount to be remitted
2. Account number which is to be debited
3. Name of the beneficiary bank

4. Name of the beneficiary customer
5. Account number of the beneficiary customer
6. Sender to receiver information, if any
7. The IFSC code of the receiving branch

How would one know the IFSC code of the receiving branch?
The beneficiary customer can obtain the IFSC code from his branch. The IFSC code is also available in the cheques leaf. This code number and bank branch details can be communicated by the beneficiary to the remitting customer.

Leave a Reply

How to add comment : 1) Type your comment below. 2) Type your name. 3) Post comment.

www.statusin.in © 2021 Contact Us   Privacy Policy   Site Map
Status Check, Procedures, Facilities