Truly One Account FAQ

Charges and Limits on Cash Deposit

What are my charges and limits on cash deposit in my Truly One Account ?


  • Charges and limits on cash deposit

Enjoy free cash deposits of up to 7 times combined AMB maintained in the current account and linked savings account anywhere in the country or 10 times of AMB maintained in the current account (whichever is higher) , beyond which you will be charged Rs.3 per Rs.1,000/-

Scenario 1

ABC Traders maintains a balance of Rs.2 lakh in its Current Account and 1 Lakh in its Savings A/C in Mar ’14. It does a total cash deposit of 10 Lakhs in the month of Mar ’14.

Total free cash deposit the company will get = 7 *(CA AMB of 2 Lakh + SA AMB of 1 Lakh) = Rs. 21 Lakhs.

Since the cash deposit of 10 Lakhs for the month is less than the free cash deposit limit of 21 Lakhs for the month, ABC Traders will not incur any cash deposit charges in the month of Mar ’14.

Scenario 2

ABC Traders maintains a balance of Rs.2 Lakhs in Current Account and 1 Lakh in Savings A/C in Mar ’14. It does a total cash deposit of 25 Lakhs in the month of Mar ’14.

Total free cash deposit the company will get = 7 *(CA AMB of 2 Lakh + SA AMB of 1 Lakh) = Rs. 21 lakhs.

Since the cash deposit of 25 Lakhs for the month is more than the free cash deposit limit of 21 Lakhs for the month, ABC Traders will incur cash deposit charges in the month of Mar ’14. The charges will be levied on the additional cash deposit over and above the free cash deposit limit at the rate of Rs.3 per 1000. The illustration is captured as below:

Total cash deposit done in the month of Mar ’14 – Rs.25 Lakhs

Free cash deposit limit basis the AMB – Rs.21 Lakhs

Additional cash deposited over the free limit – Rs.4 Lakhs

Charges incurred = 3 * 400000/1000 = 3*400 = INR 1200 + applicable taxes

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