The XTRA GAIN Current Account allows you to gain from surplus business funds through auto sweep out to create fixed deposits. At the same time auto sweep in looks after the fund that flows in the business and safeguards cheque issuance to make it a complete, satisfactory banking experience.
Complete solution to the banking needs of a business owner/an enterprise.
Create a value proposition to cater to the need of handling surplus funds
Auto sweep out to create FDs reduces manual interventions
Auto sweep in takes care of funds requirement in times
No worry about cheque bounces
Auto renewal of FD will ensure customer continue getting interest
XTRA GAIN Current Account comes in two variants:
Xtra Gain Edge (AQB of INR 25,000)
Xtra Gain Prime (AQB of INR 1,00,000)
How does it work?
Product |
Max Amount in Current Account to trigger Sweep |
Min FD Amount |
Max FD Amount |
Max. No. of Sweep-Out |
FD Tenor |
Maturity Instruction | Interest (Payout / Compounding) |
Sweep Out Frequency |
Min Balance in Current Account to trigger sweep in |
Xtra Gain Edge |
Rs.50,000 |
Rs.10,000 |
Rs.1,99,000,00 |
99 |
185 days |
Auto renew | Compounding |
Every Monday (BOD) |
Rs.39,999 |
Xtra Gain Prime |
1,85,000 |
Rs.10,000 |
Rs.1,99,000,00 |
99 |
185 days |
Auto renew | Compounding |
Every Monday (BOD) |
Rs.1,74,999 |
Auto Sweep Out:
Amount in account reaches maximum threshold limit, trigger happens and FD is created on Monday.
Auto Sweep In:
Amount in account reaches minimum threshold limit, entire FD will be liquated and account will be credited with the FD amount.
FD will always be liquated in Last in First Out (LIFO) manner, if multiple FD’s are present
Sweep Out will happen whenever minimum threshold limit is reached
Example:
In case of Xtra Gain Edge account:
Auto Sweep Out -
Account balance INR 70,000.
FD creation will be triggered since INR 70,000 > INR 50,000 (Trigger Limit)
Amount over and above INR 40,000 (Threshold Limit) = INR 30,000
Monday = FD Created INR 30,000
Auto Sweep In -
Account balance INR 45,000, if cheque of INR 10,000 presented for clearance (sweep in threshold is <40000, INR 5000 will be needed to clear the cheque), then the FD of INR 30,000 will be liquidated, account will be funded and cheque will be cleared.
Example:
In case of Xtra Gain Prime account:
Auto Sweep Out -
Account balance INR 2,00,000
FD creation will be triggered since INR 2,00,000 >INR 1,85,000 (Trigger Limit)
Amount over and above INR 1,75,000 (Threshold Limit) = INR 25,000
Monday = FD Created INR 25,000
Auto Sweep In -
Account balance on Wednesday is INR 2,45,000, if cheque of INR 100,000 presented for clearance (sweep in threshold is <175000, INR 30000 will be needed to clear the cheque), then the FD of INR 25,000 will be liquidated, account will be funded and cheque will be cleared.
Fees & Charges:
Please refer the Rates & Charges section to know the complete fees and charges applicable.
To find out more, SMS “Help” space to +91 9552220020 or call our 24-hour Contact Centre on 1800 1200 or visit any of our conveniently located Branches across India.
Special FD statement (for FD created through sweep out) for easy reconciliation and accounting purpose
Reduced intervention and automatic management of FDs on maturity
Weekly Sweep out on Monday and Sweep in basis threshold limit for account maintenance
Access FD online
All FDs accessible on YES MSME, YES Mobile and Net Banking.
General Transactions/ Services free in both variants
Cash Withdrawal across all Yes Bank branches
Intra Bank Fund transfers through branch & Net banking (Payment/Collections)
Payments – RTGS,NEFT, Demand Drafts (Payable at Yes Bank locations) through Digital
Channel
Collections- RTGS/NEFT/Local Clearing/Outstation Cheque
Stop Cheque through NET/Mobile/Phone banking & ATM
Average Quarterly Balance
Average Quarterly Balance of INR 25,000 and INR 1,00,000 needs to be maintained for Xtra Gain Edge Business and Xtra Gain Prime Business respectively.
Free Cash Deposit Limit
Free cash deposit Limit 6 times of current month AMB (For Xtra Gain Edge Business) and 8 times of current month of AMB (For Xtra Gain Prime Business)
Free Payable At Per cheque
- 100 free Payable AT Par cheques per month for Xtra Gain Edge Business
- 300 free Payable AT Par cheques per month for Xtra Gain Prime Business
Free Demand Drafts
- Up to 25 per month for Xtra Gain Edge Business
- Up to 50 per month for Xtra Gain Prime Business
Documents Required
Digital Wallet with free Virtual card and UPI which can be used to send/receive money, mobile/DTH recharge, pay bills and much more
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