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What is Quantum Optima (QO) facility?

Under the Quantum Optima facility, fixed deposits would be automatically created from the funds available in linked resident savings account of such customers, in case the funds available therein exceed the specific threshold amounts. Also, under the Quantum Optima facility, the linked fixed deposits are broken automatically and the money therein is transferred back to the residents savings account, (Reverse sweep will trigger when the balance falls below Rs. 75,000) to meet any shortfall arising in the resident savings account(s) as a result of withdrawals vide issuance of cheques, ATMs etc. or as a result of insufficient minimum balance mandated for such resident savings account(s) by the bank from time to time.
It is given with below mentioned parameters:

a)

Threshold limit in savings account above which Quantum Optima Fixed Deposit (FD) will be created.

Rs. 75,000

b)

Minimum amount of Quantum Optima FD to be created.

Rs. 25,000

c)

Multiple amount in which Quantum Optima FD will be created

For example,
a) If savings account balance is Rs. 1,20,000, a single Quantum Optima FD will be created for Rs. 25,000 and savings account balance of Rs. 95,000 will remain.
b) If savings account balance is Rs. 1,35,000, a single Quantum Optima FD will be created for Rs. 50,000 and savings account balance of Rs. 85,000 will remain.

Rs. 25,000

d)

Threshold limit in savings account to trigger Quantum Optima FD withdrawal/ breakage.

Rs. 75,000

e)

Multiple amount in which Quantum Optima FD is withdrawn (reverse sweep).

Rs. 5,000