Overview
Indus Max Current Account is a benefit-oriented Bank Account that offers you a host of value-for-money and practical features to help you grow your business. Ideal for small businesses with an Average Monthly Balance (AMB) requirement of Rs. 10,000/- only.
Some IBA-Max features that make managing your business account easier include:
- Anywhere Cash deposit limits.
- Free NEFT/RTGS/IMPS.
- Auto Sweep Deposit and Grouping of Accounts facility.
Eligible Customer types for Indus Max variant are : Sole Proprietorship, Partnership, Limited Company / Limited Liability Partnership, Trust / Association / Club / Society
Indus Max Account Features and Benefits
Anywhere Cash Deposit Limits
Combined free cash deposit of Rs.6 Lacs at Home & Non-Home locations
Demand Draft Issuance
Free 25 Lacs Demand Drafts Issuance per month at IndusInd Bank and 5 Lacs at correspondent bank locations for secure and prompt payments
Auto Sweep Deposit
Automatic transfer of excess balance from current account into sweep FD.
Grouping of accounts
Group your Current account with your own or family members accounts (Savings/Current), and enjoy the flexibility of maintaining required group balances in one (or more) accounts.
Doorstep Banking Services
Up to 3 free cheque pickups in a month through on call facility for added convenience
Indus Max Account Eligibility Criteria
Eligible Customer types for Indus Max variant are : Resident Individual / Hindu Undivided Family (H.U.F.)/ Sole Proprietorship/ Partnership/ Limited Company / Limited Liability Partnership/ Trust / Association / Club / Society.
Indus Max Account Fee & Charges
Schedule of Charges for IBA-Max Accounts
| Average Monthly Balance Requirement | Rs.10,000/ - |
| Charges for Non-Maintainance of AMB | Rs. 750 per month if AMB is >=50% but <100% & Rs. 1000 per month if AMB is <50% |
| Cheque Leave Issuances (Payable At Par) | 50 cheque leaves free per month |
| Charges on additional usage 1 | Rs. 2 per leaf |
| Outstation Cheque Collection | |||||||||||
| Non-IndusInd Bank Location |
|
| Demand Draft Issuance- At any IndusInd Bank Locations | |
| Free Limit | Rs. 25 lacs per month |
| Charges on Additional usage | Rs 1/1000, Min Rs. 25 , Max Rs. 10,000 |
| Demand Draft Issuance - At Correspondent Bank Locations | |
| Free Limit | Rs. 5 lacs per month |
| Charges on Additional usage | Rs. 2/1000, Min Rs. 100, Max Rs. 15000 |
| Demand Draft Issuance - At Non-Correspondent Bank Locations | Rs. 3/1000, Min Rs. 100, Max Rs. 15000 |
Cash Transactions
| Cash Deposit at Home+Non Home Locations | |
| Free Limit per month 4 | Rs. 6 lacs p.m. |
| Additional Charges | |
| Charges on Additional Deposits | Rs. 4/1000, Min Rs. 50/- Per transaction. |
| Cash Withdrawal | |
| Cash Withdrawal Non IndusInd ATMs * | Free |
| Cash Withdrawal Limit by Debit Card | Limit As per Debit Card Taken, Refer Standard Schedule of Charges for Debit Card |
| Stop Payment | |
| Cheque | Single cheque Rs. 100,Series cheque Rs. 150, Nil charges if requested through Indus Net/ Indus Mobile/ IVR |
| Cheque Return | |
| Inward For Financial Reasons | Upto 2 instruments per month- Rs. 350 per instrument On 3rd & 4th instrument - Rs. 500 per instrument 5th instrument onwards - Rs. 750 per instrument |
| Outward | IndusInd Locations-Rs. 50 per cheque Other Locations-Rs 100 per cheque + Out of pocket Expenses |
| NACH / ECS | |
| NACH / ECS Return | Rs. 200 |
| Debit Card | |
| Gold/Titanium Debit Card | Issuance, Annual Charges, Replacement & Supplementary Card - Rs. 249/- |
| Platinum Business Debit Card | Issuance, Annual Charges & Supplementary Card- Rs 699, Replacement Card Rs.-249/- |
| Balance Inquiry Outside India | Rs. 20/- per transaction |
| ATM/POS Limit on Debit Card | Limit As per Debit Card Taken, Refer Standard Schedule of Charges for Debit Card |
| Account Statement | |
| Adhoc Statement (printed) | Rs. 10 per statement through branch |
| Cheque Pick-up (On call) | Upto 3 pickups free in a month |
| Cheque Pick-up (Beat) Per month | Rs. 500 |
| Cash Delivery / Pick-up Cash upto Rs. 2 Lacs (Per Call) | Rs 150 per call |
| Cash Delivery / Pick-up Cash above Rs. 2 Lacs (Per Call) | Standard Charges: From 2 to 5 Lacs-Rs 250, From 5 to 10 Lacs-Rs 400, From 10 to 20 Lacs-Rs 800, Contact branch for cash above 20 Lacs |
| Cash Delivery / Pick-up Cash (Beat) Per month | Standard Charges: Up to Rs 1 Lac- Rs 2000, From 1 to 2 Lacs-Rs 3000, From 2 to 5 Lacs-Rs 5500, From 5 to 10 Lacs-Rs 9000, From 10 to 20 Lacs-Rs 16000 Contact branch for cash above 20 Lacs |
| Collections | Local Cheque Collection | Outstation Cheque Collection - IndusInd Bank Locations |
| Payments | "Anywhere Payment: Cheques paid at any location of Indusind Bank | Cash Withdrawal-Any IndusInd Bank Branch or ATM 3 | Funds Transfer within IndusInd Bank 2 |
| Other Services | Non-financial Transactions - Other Bank ATMs in India^ | Email Statement (Daily / Monthly) | Dormant Account Activation Charges | Internal Transfer Return Charges | Account Closure Charges |
| NEFT / RTGS / IMPS | Branch | Online** |
| IMPORTANT: If Average Monthly Balance is maintained less than 60% of the product selected, free limits will not be applicable and below mentioned Standard charges will apply. |
| 1. Standard Charges per cheque leaf is Rs. 2/- |
| 2. Standard Charges for funds transfer transaction is Rs. 15/- per cheque |
| 3. Standard Charges for cash withdrawal at Non-Home Location is Rs. 2.5/1000 minimum Rs. 50 |
| 4. Standard Charges for Cash deposit at Home location/Non-Home Location:Rs. 4/1000 minimum Rs. 50/-. |
| *Free Monthly Cash Withdrawal Limit at Non-IndusInd Bank ATMs is capped at 50 transactions per month subject to Average Monthly Balance maintenance of Rs.10,000 in previous month. In case the Average Monthly Balance in previous month is less than Rs.10,000, then 5 transactions are Free. Cash Withdrawal transactions above the specified limits will be charged at Rs. 21 per transaction. | Cash Withdrawal outside India is Rs.125. |
| ^W.e.f. 15th November 2024, capping on number of Non-financial ATM transactions i.e. Balance Enquiry, Mini-statement, PIN Change, Mobile Banking Registration, Cheque Book Request, Statement Request and Aadhaar Number Seeding, etc. on Non-IndusInd Bank ATM has been revised to 2 transactions per day. |
| **Online mode refers to Mobile Banking & Retail Net Banking |
| +Available in Select Locations only |
| PAP- Payable At Par |
| GST as applicable on charges |
Indus Max Current Account FAQs
What is the Indus Max Current Account?
The Indus Max Current Account is a type of account designed to offer value-oriented banking solutions for small businesses. It provides benefits such as free NEFT/RTGS/IMPS, anywhere cash deposit limits, and auto sweep deposits. This account is ideal for small and growing businesses since it has an average monthly balance (AMB) requirement of ₹10,000 only.
What are the benefits of the Indus Max Current Account?
With the Indus Max Current Account, you can enjoy several benefits, such as:
- Free NEFT, RTGS, and IMPS transactions.
- Combined cash deposit limit of ₹6 lakhs across home and non-home branches.
- A low average monthly balance requirement of ₹10,000.
- Auto-sweep Deposits, where excess balance is transferred into fixed deposits for better returns.
- Grouping of accounts, so you can manage multiple accounts (whether your or family members) simultaneously.
- Doorstep banking services like free cheque pickups for added convenience.
What are the fees and charges for opening an Indus Max Current Account?
There are no fees or charges for opening the Indus Max Current Account. It’s a value-for-money product that allows small businesses to enjoy the benefits of a feature-rich current account without major costs or hassles.
What are the documents required for opening an Indus Max Current Account?
To open an Indus Max Current Account, you will need the following documents:
- Proof of identity and address (e.g., Aadhaar card, PAN card, voter ID).
- Business registration proof.
- Recent passport-sized photographs.
What are the eligibility criteria for opening an Indus Max Current Account?
The Indus Max Current Account is available to a wide range of business entities, such as:
- Resident Individuals
- Hindu Undivided Families (HUFs)
- Sole Proprietorships
- Partnerships
- Limited Liability Partnerships (LLPs)
- Limited Companies
- Trusts, Associations, Clubs, and Societies
Simply put, it is designed for businesses looking for flexible and value-oriented banking solutions.
What is the AMB requirement for the Indus Max account?
The Indus Max Current Account requires an Average Monthly Balance (AMB) of ₹10,000. If the AMB falls below this, charges apply.
If the AMB is between 50% and 100% of the requirement, the Non-Maintenance Charges (NMC) are ₹750 per month. For balances of less than 50% of the AMB, a higher NMC of ₹1,000 per month is charged.