Understanding the needs of Co-operative Housing Society, Our Bank has developed a Unique & Innovative "Premium Society"account , fully customized to the needs of individual housing society. The account provides for a amazing bundle of facilities aimed to destress the work of managing committee members, specially the treasurer and the Secretary.
- Free Maintenance of Bills and Receipts (Under SVC Society Module Scheme)
- Free cheque book facility
- Free Cheque Drop box facility shall be provided to the Society
- Free Pay order and Demand Draft shall be issued for any amount
- Free Money transfer via RTGS/NEFT
- Free execution of Standing Instructions
- FREE DOORSTEP COLLECTION OF CHEQUES from your premises
- ZERO BALANCE account
- Additionally, if society member has an account with the bank, then the Bank will automatically transfer maintenance amount from members account to Society account, after receiving a confirmation from the member.
You do not have to come to the bank or send your security guards and other society personnel to deposit cheques, collect statements of accounts etc. The Bank's representative will come to the society premises and collect the maintenance cheques 3 TIMES a month. You can specify the date(s) of collection based on your society's Bill due-date ,Bill generation date etc.
Each member will recieve SMS confirming collection of cheques.
Issuance of Bills and receipts has always been a time consuming activity for the
committe members of
the society. With a Premium Society account , the bank will do this activity for the
society, absolutely
free any charges.
Bank will provide a detailed Bill-cum -Receipt as per the billing frequency of the
society. The society can
ask for monthly, Quarterly, Yearly bill generation. The bill is fully customisable
and will contain
component wise break up against each flat(For e.g Property taxes, Security charges,
Sinking Fund,
Repairs fund, Lift charges etc). The components will be as per the needs of the
society.
Bank will provide a unique cheque drop box absolutely free of cost.Cheques deposited after due date will be charged penalty as per the penalty charges policy adopted by the society.
Bank will proved a periodic statements of Billing and Receipts details to the society containing flatwise billing and receipts data alongwith outstanding balance against each flat. On request, Outstanding listing will also be provided by the bank free of cost. Society can also request for additional fee based customised reports like statement of account of account of 1 flat since say last 2 years containing billing, receipts, penalty, charges etc or duplicate bills etc.
Bank will provide cheque books totally free of any cheque book charges. The Society can issue unlimited cheques, Similarly Payorder and Demand Drafts too will be provided free-of -cost to the society.
The society gets Bank certified statement of accounts as well as Bank certified bills and receipts. The Bank will provide certified statements of members outstandings, receipts, bills etc for audit purposes totally free of cost. No hassles of tallying and reconciliations. Thus you can RELAX with a Premium Society Account. The Bank will consider providing additional value added services to the society / members on continuity of a mutually satisfying banking relationship.
Society or group of society or federation should have a minimum of 50 members to avail the facilities provided to premium society accounts. If the society does not fulfilling the above criteria, the bank on a case-to-case basis, will consider offering part of its bouquet of services free of cost or offer services at a nominal fee to such society.
Society will provide ONE TIME data. The necessary forms will be provided by the bank. Alternatively society can provide data in an excel sheet file prepared by the bank. Once the data has been uploaded successfully, the bank will contact society personnel and will decide on the bill cycle.