The Aasaan Remittance Account is targeted at home remittance sender and beneficiaries to receive home remittances through proper accounts instead of restoring to traditional cash over the counter transactions or Hawala Hundi. These segments of society may include but are not limited to skilled/unskilled work force, farmers, less educated/uneducated people, laborers/daily wagers, women/housewives, self-employed individuals, pensioners, young adult population etc.
Cash Withdrawal Limit per Day Rs. 500,000
Funds Transfer to any Other Account Rs. 500,000
Maximum Credit Balance Limit Rs. 3,000,000
These accounts shall be opened without any initial deposit. However; there shall be no minimum balance requirement on these accounts. No service charges are applicable at the time of opening and closing of an account.
Profit 5.50% Per Annum to be calculated on Monthly average balance and paid on half yearly basis