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  • June 18,2018
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oriental salute salary account

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S.No Parameters/Benefits Oriental Salute Salary Account
. Basic Eligibility criteria Serving Permanent Employees of Indian Armed Forces and Para military Forces
1 Min/Avg. Balance Requirements Nil
2 Online NEFT Free
3 Insurance Free Accidental Death or Permanent Disability Insurance cover of ₹ 10.00 lacs to be provided to all account holders, initially for first year.
Second year onwards, insurance to be renewed subject to following conditions:
1. Average quarterly balance in Savings Account not to fall below ₹ 25000/- in any of the quarter otherwise insurance premium to be recovered from customer.
2. No loan/OD, availed from our Bank, is classified as NPA.
Saving Account is not Dormant.
4 Online NEFT Free
5 ATM card type
Issuance charges
Annual fee charges
Rupay Platinum /VISA Gold
Free
First year Charges : Nil Second year onwards the AMC charges shall be waived only if annual transactions on PoS /e-Commerce exceeds ₹ 60,000/- otherwise normal AMC charges as per the card variant type shall be applicable.
6 Net Banking Free
7 Mobile banking Free
8 SMS and Mail alerts Free
9 Overdraft facility Overdraft facility with extended limit upto 3 times of gross salary (as per pay slip) or 5 times Net Salary credited in account (Avg of last 3 months to be taken) whichever is lower. Available for tenure of 12 months at (MCLR+2.5%)* Max overdraft amount shall be limited to ₹ 300000/-*(Conditions apply)
Eligibility: Permanent Employee /Minimum one year of continuous service .Net take home salary  should not be less than 40% after calculating the interest accrued.
10 Process Fee in Retail Loans Complete waiver
11 Demat Annual Maintenance Charges NIL
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