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Premium Society Account

 

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 an amazing bundle of facilities aimed to destress the work of managing committee members, specially the treasurer and the Secretary.

ABSOLUTE CONVENIENCE....... DOOR STEP SERVICE

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.

SMS CONFIRMATION

Each member will recieve SMS, confirming collection of cheques.

HASSLE FREE ACCOUNTING

You do not have to prepare PAY-IN slips or maintain records and details of cheques recieved and bounced.

FREE BILL AND RECIEPT GENERATION

Issuance of Bills and reciepts 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 -Reciept 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.

FREE CHEQUE DROP BOX

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.

FREE STATEMENT OF BILLING - RECIEPT DETAILS

Bank will provide a periodic statements of Billing and Reciepts details to the society containing flatwise billing and reciepts 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, reciepts, penalty, charges etc or duplicate bills etc.

FREE CHEQUE BOOK, PAY ORDER, DD

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.

BENEFITS TO THE SOCIETY

The society gets Bank certified statement of accounts as well as Bank certified bills and reciepts. The Bank will provide certified statements of members outstandings, reciepts, 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.

CRITERIA FOR PREMIUM SOCIETY ACCOUNT

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.

HOW TO BEGIN

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.

 

 

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