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    GSFC Spendz 1apr22

    Uploaded by

    Atul
    Spendz provides a general schedule of features and charges for its prepaid account effective April 1st, 2022. Key details include no minimum balance requirements or non-maintenance charges, no fees for account closure within 6 months, no card issuance or annual fees, and no charges for transactions at Kotak bank ATMs. Cash withdrawals are subject to charges of Rs. 21 plus taxes at other domestic bank ATMs up to Rs. 10,000 daily with a Rs. 25,000 weekly limit. Statements are provided electronically free of charge.

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    GSFC Spendz 1apr22

    Uploaded by

    Atul
    22 views1 page
    Spendz provides a general schedule of features and charges for its prepaid account effective April 1st, 2022. Key details include no minimum balance requirements or non-maintenance charges, no fees for account closure within 6 months, no card issuance or annual fees, and no charges for transactions at Kotak bank ATMs. Cash withdrawals are subject to charges of Rs. 21 plus taxes at other domestic bank ATMs up to Rs. 10,000 daily with a Rs. 25,000 weekly limit. Statements are provided electronically free of charge.

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    gsfc-spendz-1apr22

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    Spendz provides a general schedule of features and charges for its prepaid account effective April 1st, 2022. Key details include no minimum balance requirements or non-maintenance charges, no fees for account closure within 6 months, no card issuance or annual fees, and no charges for transactions at Kotak bank ATMs. Cash withdrawals are subject to charges of Rs. 21 plus taxes at other domestic bank ATMs up to Rs. 10,000 daily with a Rs. 25,000 weekly limit. Statements are provided electronically free of charge.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views1 page

    GSFC Spendz 1apr22

    Uploaded by

    Atul
    Spendz provides a general schedule of features and charges for its prepaid account effective April 1st, 2022. Key details include no minimum balance requirements or non-maintenance charges, no fees for account closure within 6 months, no card issuance or annual fees, and no charges for transactions at Kotak bank ATMs. Cash withdrawals are subject to charges of Rs. 21 plus taxes at other domestic bank ATMs up to Rs. 10,000 daily with a Rs. 25,000 weekly limit. Statements are provided electronically free of charge.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    General Schedule of Features & Charges (GSFC) for SPENDZ

    w.e.f 1st April, 2022


    Particulars Spendz
    AMB
    (Average Monthly Balance) NA

    NMC Charges for non maintenance of minimum


    (Non Maintenance Charges) Nil
    monthly average balance
    NEFT / RTGS / Fund Transfer
    Not Allowed Currently
    (Through Netbanking / Mobile Banking)
    NEFT/RTGS - Applicable only if done in Branch Not Allowed Currently
    Fund Transfers IMPS Not Allowed Currently
    Transfer Fund back to own/self Savings Account Nil
    SI Failure Nil
    Statements Email Statement-Nil; Physical Quarterly-Nil
    Ad-hoc statement, Balance Statement
    Statements & Alerts Nil
    available via digital channels only
    Balances Value added alerts (Daily / Weekly) 50p.per SMS(Daily & Weekly)
    Spendz Prepaid Account Closure
    Other Charges (if closed after 1 month and Account Closure Charges - 0
    before 6 months of A/C opening)
    Card Issuance Fee - Nil (Limited Period Offer)
    Card Annual Fee Nil
    Card Reissuance/Replacement Rs 200 + Applicable Taxes

    Spendz Pre Paid Card Cash withdrawal at Kotak Bank ATMs Nil
    (Spendz / ATM Withdrawal Non-Financial Transactions at Kotak Bank ATMs Nil
    & Other Charges)
    Cash withdrawal at Other domestic bank ATMs Rs 21 + Applicable Taxes
    Non-Financial Transactions at other domestic Bank ATMs Rs 8.5 + Applicable Taxes
    Generation/Regeneration of PIN (sent through courier) Rs 50 per request
    Cardless cash withdrawal (IMT) Currently Not Available
    • Cash withdrawal limit from other Domestic ATM is Rs. 10000 per transaction subject to maximum Rs. 25,000 per day
    • Mandatory Alerts will not be charged. Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the
    Bank, will be sent free of charge, even if Daily / weekly Balance SMS alerts facility has not been subscribed.
    • For all value figures k = 1000
    • As per RBI guidelines, Business / Commercial transactions are not permitted in the Spendz Prepaid Accounts.
    • The above charges are subject to revision with a prior intimation of 30 days to all account holders. Closure of account due to revision of
    charges will not be subject to account closure charges.
    • <> Penalty Charges. Not applicable once the Prepaid account becomes inoperative/ dormant.
    • Non-financial transactions are Balance Enquiry, Mini Statement & PIN Change
    • Charges mentioned above will attract GST as applicable from time to time.Effective Goods and Service tax rate (GST) will be 18% on
    taxable value
    • State government taxes/ Cess as applicable shall be charged at prevailing rate
    • TDS applicable for CASH withdrawal will dependent on submission of proof of Income Tax Return filed :-
    Aggregate Cash Withdrawals in all Income tax Return copy Submitted to Income tax Return copy NOT Submitted
    accounts in a Financial Year Bank of any 1 of last 3 financial year to Bank for any of last 3 financial year
    Upto Rs.20 Lakhs Nil Nil
    Rs.20 lakhs to Rs. 1 crore Nil 2%*
    In Excess of Rs. 1 crore 2%* 5%*

    *On or after 01.04.2023, if PAN is not linked to Aadhar, then the TDS deduction at the rate 20% as per section 206AA of the Income Tax
    Act will apply.

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