Flexi Bank Account

Now a days banking services has become more of a customer oriented .So to offer some flexibility to their account holders banks now days are offering different options to their customers.One of them is Flexi bank account.

FLEXI Bank account: Flexi bank account give the customer the benefit of high rate of interest as in FD and liquidity of saving account. A customer is required to set their limit as per his/her regular cash needs and ask the bank transfer the balance to term deposit and earn higher interest.

For instance you have 5 lac rupees in your flexi account and you set your limit to 1lac and the remaining balance will earn interest at 7 percent p.a. The amount of 1 lac will be available for your daily needs and will earn interest at 4 percent p.a.Apart from this suppose you have issued a cheque of Rs 1.05 lacs against your account then there is no problem as excess of 5000 Rs will be transferred from your flexi account and no charge taken.

So it helps you both ways. Earning interest as well as providing you liquidity. Every bank offers different features in this product.