Banks are constantly trying to make business banking easier, smarter, and more rewarding. To meet the growing needs of corporate and institutional customers, a brand-new product has been launched – the Palladium Current Account. This premium current account has been specially designed for businesses with large transaction volumes and higher financial requirements.
What is Palladium Current Account?
The Palladium Current Account is not just another account – it’s a premium banking product created after customer feedback and management insights. It aims to give businesses more flexibility, better value, and powerful banking tools to handle daily financial operations.
Who Can Open This Account?
This account is available for non-individual customers only like companies, firms, trusts, and other institutions. However, it is not available for Banks, NBFCs, Cash Collection Agencies, Payment Banks, or Merchant Aggregators.
Key Features of Palladium Current Account
1. Balance Requirement
- Monthly Average Balance (MAB): ₹25,00,000
- If balance is less than 50% → ₹15,000 + GST per month.
- If balance is 50%–99% → ₹8,000 + GST per month.
- Waiver of charges for the first 2 months from account opening.
2. Cheque Books
- 30 cheque books (50 leaves each) free every month (total 1,500 cheque leaves).
- After that, only ₹3 per cheque leaf + GST.
3. Cash Deposit & Withdrawal
- Cash deposit limit: 15 times previous month’s MAB (max ₹8 crore per month).
- Non-home branch deposit: up to ₹5 lakh per day.
- Cash withdrawal at home branch: Unlimited free.
- Non-home branch withdrawal: up to ₹5 lakh per day (self or cheque only).
4. Free Digital & Transactional Facilities
- Business Debit Card – Premium variant (no issuance fee).
- Corporate Internet Banking (CINB): Free with both view and transaction rights.
- Unlimited free RTGS/NEFT transactions.
- Free Demand Drafts/Banker’s Cheques.
- Statements: First monthly statement free (e-statements always free via CINB).
POS & QR Soundbox Benefits
For businesses accepting digital payments:
- Up to 6 POS/QR Soundbox machines free.
- 100% waiver of rental/service charges if transactions per machine exceed ₹50,000 monthly.
- 1% discount on MDR (credit card swipes) up to ₹12 lakh transactions per month.
- If balance requirements are not met, these concessions are discontinued.
Free CMP (Cash Management Products)
- Free e-collections (Virtual Account Numbers).
- Free bulk e-payments and liquidity management tools.
- If balance is not maintained, normal charges apply.
Why Businesses Should Choose Palladium Current Account
Higher transaction limits for cash deposits & withdrawals.
Big savings on cheque books, POS/QR rentals, and MDR charges.
Free access to premium banking tools like CINB, RTGS/NEFT, CMP, and debit cards.
Designed for corporates, firms, and institutions with large financial needs.
Final Words
The Palladium Current Account is a premium offering that gives businesses the power to manage high-value transactions seamlessly. From unlimited RTGS/NEFT to free POS/QR machines and large cash deposit limits, it is built for companies that need advanced banking support.
To know more or to apply, visit your nearest branch or check the official bank website
Also read-What are the Services available at Non-Home Branches of SBI?