Taqwa Asaan Remittance Account will facilitate low income/ unbanked customers to receive home remittances through proper account instead of resorting to traditional cash over counter transactions.

Salient Features

The salient features of this account are as follows:
  • Qard based product whereby the Bank is the ’Borrower’ and Customer is the ‘Lender’.
  • The account will be non-remunerative account.
  • Account can be fed through home remittance only.
  • Only individuals are eligible to open this account in Single or Joint capacity.
  • Maximum credit balance limit will be Rs. 2,000,000.
  • Cash withdrawal limit will be Rs. 50,000 per day (ATM & COC both).
  • Funds transfer limit from Taqwa Asaan Remittance Account to any other account will be Rs. 50,000 per day.
  • No requirement for initial deposit.
  • No local credit shall be allowed in the account.
  • No outward remittance shall be allowed.
  • No commercial remittance shall be deposited in the account.
  • Names of prospective remitter(s) and relationship with beneficiary will be provided by the customer.
  • Other service charges (if any) will be applicable as per approved schedule of charges.
  • Other terms & conditions will be applicable as per account opening form.
This page was last updated on: November 2, 2020 4:58:51 PM