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XTRA GAIN Current Account

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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.

key attractions

FD RECON statement

Special FD statement (for FD created through sweep out) for easy reconciliation and accounting purpose

Auto Renewal of FD

Reduced intervention and automatic management of FDs on maturity

Sweep in and Sweep out

Weekly Sweep out on Monday and Sweep in basis threshold limit for account maintenance

features and benefits

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

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