| Q. |
What is the ITA offering? |
| |
ITA is a current account bundled with Trade & Foreign exchange
services. This product has been specially created to cater to
the banking requirements of International Traders (Importers /
Exporters) |
| |
|
| |
|
| Q. |
Which entities are eligible for ITA offering? |
| |
|
Sole Proprietors / Proprietorship firms |
| |
|
Partnership Firms |
| |
|
Public Limited & Pvt. Ltd. Companies (including closely held
limited companies) |
| |
|
| |
|
| Q. |
What are the key features of ITA? |
| |
|
Current account facilities for your business banking
requirements |
| |
|
Trade & Remittance services- special pricing on trade &
remittance services for local & overseas transactions |
| |
|
Foreign Exchange services: |
| |
|
-
Access to our proprietary online Foreign exchange trading
platform (OLT) |
| |
|
-
Preferential pricing on foreign exchange transactions |
| |
|
Access to a dedicated Relationship Manager |
| |
|
| |
|
| |
|
| Q. |
What are the range of services offered under ITA? |
| |
Current account: |
| |
|
Free Multi-city cheque book |
| |
|
Free Demand Drafts drawn on our Branch locations |
| |
|
Free Demand Drafts on Correspondent Bank locations upto INR 50
lakhs per month |
| |
|
Free National Electronic Funds Transfer |
| |
|
Real Time Gross Settlement Transfers |
| |
|
Free cash deposit / withdrawal upto INR 10 lakhs pm |
| |
|
Free monthly / weekly account statements |
| |
|
Debit Card with aXcessPlus benefits |
| |
|
Free Net Banking |
| |
|
Doorstep Banking: |
| |
|
-
Free Cash pick-up / delivery
- Free cheque pick-up, DD & PO delivery
- Trade document pick-up at INR 100 per instance |
| |
|
Foreign Exchange Services |
| |
|
-
Preferential FX margins for over 100 currencies
- Free access to our proprietary online FX trading platform
Online Treasury (OLT) |
| |
|
Trade Services |
| |
|
-
Export services
- Import services
- Domestic Trade services |
| |
|
| |
|
| Q. |
What are the requirements of an ITA account? |
| |
|
You need to maintain an Average Quarterly Balance (AQB) of INR 50,000 & above. |
| |
|
You need to do a quarterly Trade transaction of INR 10 lakhs & above |
| |
|
| |
|
| Q. |
How can you open an ITA account? |
| |
You need to submit the following at the time of account opening: |
| |
|
Account opening form |
| |
|
Identity and Address Proof |
| |
|
Other documents depending on the facilities sought for (eg.
Trade, Internet Banking, Doorstep Banking etc)
Specific documents would be told by the sales officer. |
| |
|
| |
|
| Q. |
What are the variants under ITA? |
| |
ITA variants are based on the Average Quarterly Balance (AQB)
that the customer commits to maintain at the time of account
opening: |
| |
|
ITA Core: AQB above INR 50,000 |
| |
|
ITA 25: AQB above INR 2,50,000 |
| |
|
ITA 50: AQB above INR 5,00,000 |
| |
AQB non-maintenance charges of INR1500 |
| |
|
| |
Freedom to choose trade tariff based on Quarterly Trade volume routed through the ITA account |
| |
|
Upto INR 10,00,000: Standard Tariff |
| |
|
INR 10,00,000 – 25,00,000: 10% discount to Standard tariff |
| |
|
INR 25,00,000 – 75,00,000: 20% discount to Standard tariff |
| |
|
| |
|
| Q. |
How does one avail of special pricing for Trade & Remittance
services? |
| |
|
At the time of account opening, customer commits the AQB & Trade volume (in INR) for the quarter |
| |
|
Based on this the pricing for Trade & Remittance service is agreed with the customer. |
| |
|
However the pricing is liable to change (increase / decrease) every 4 months based on the actual AQB maintained & quarterly trade volumes routed. |
| |
|
| |
|
| Q. |
What is OLT? |
| |
OLT is an internet based online application which allows the
client to buy and sell foreign currency quickly, efficiently and
securely.
Advantages of OLT: |
| |
|
Convenience – No telephone calls to SME Treasury, deals priced
in a few clicks. |
| |
|
Live Rates – Allows client multiple FX rate queries in a day &
to book deals at time / price of his choice |
| |
|
Price Transparency – Standard pre-agreed / pre-fixed margins
charged on all deals |
| |
|
Free onsite installation |
| |
|
| |
|
| Q. |
What are the types of facilities offered under Trade? |
| |
Depending on the needs of the customers, facilities ranging from |
| |
|
Export services Documentary collection, LC advising, LC
Transfer, Remittances |
| |
|
Import Services like Letters of Credit, Documentary Collection,
Remittances |
| |
|
Bank Guarantees |
| |
|
|
To schedule an appointment with our sales officer,
click here |
| |
|
|
Note: The FAQs have been prepared for general information only
and are subject to change. The ultimate aim of the FAQs is to
extend the availability of the information about the product in
simple and readable manner and should not be construed as a
comprehensive feature of the product. |
| |
|
 |
