savings bank deposit schemes

7/29/2019 Savings Bank Deposit Schemes

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Savings Bank Deposit SchemesU name it we have it

Indian Overseas Bank provides various Savings Bank Deposit schemes meant for people

belonging to all sections of the society. The Bank stays committed to society to inculcate

savings habit among the people while allowing them to use their funds as per their

convenience.

Our Savings Bank Deposit Schemes include:-

Regular Savings Bank Account

Savings Bank No Frills Account

IOB Savings Bank Gold I

IOB savings Bank Gold II

IOB Savings Bank Silver I

IOB Savings Bank Silver II

IOB SB Student

Open a Savings Bank account with us and enjoy hassle free Banking. With our Core Banking

solution, you have the flexibility to operate your account from any of the 2600+ Core

Banking Branches all over India.

Regular Savings Bank
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HomePersonal BankingSaving BankRegular Savings Bank

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Details Description

ELIGIBILITY Individuals, Joint accounts, Clubs, associations, trusts, Govt.

Bodies, societies (including co-operatives), educational

institutions, associations and other non-trading organizations.

Minors who have completed ten years of age can apply in

their names.

MINIMUM BALANCE You need to maintain a minimum balance of Rs. 100/- for

non-cheque operated accounts and Rs. 500/- for cheque

operated accounts in branches in rural and semi-urban areas.

It is Rs.500 for non-cheque operated account and Rs.1000 for

cheque operated account in other branches.For pension accounts the minimum balance is Rs. 5/- for non-

cheque operated accounts and Rs. 250/- for cheque operated

accounts

REQUIREMENTS FOR

OPENING ACCOUNT

Duly Filled Application Form , Proof of identity, Address

proof, Introduction, Passport size photograph.

INTEREST RATE 4.00% p.a.

INTEREST PAYMENT Interest is paid on daily product basis.

LOAN AGAINSTDEPOSIT

Not permitted

BENEFITS International VISA Debit Card Instant Credit of Outstation Cheque upto Rs.15,000/- Internet banking facility. Multicity Cheque facility

Nomination facility

Standing Instruction Facility Speedy transfer of funds Anywhere Banking Insurance Products

VALUE ADDITIONS Maintain an average quarterly balance of Rs.10,000 and

above in the account and get the following facilities:-
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Inland drafts / mail transfers not exceedingRs.10,000/- per month, limited to 2 occasions in a

month per depositor issued without any

commission/exchange.

Collection of inland outstation instruments such ascheques / drafts / dividend warrant etc not exceeding

Rs.10,000/- per month irrespective of the number of

instruments per depositor is done without collection

charges.

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The minimum balance requirement and the charges presently levied by banks on S.B.

accounts deter a sizeable section of population from opening /maintaining bank accounts. Our

Bank has, therefore, launched a "No-frills" accounts with lower minimum balance in all our

branches.

Details Description

ELIGIBILITY Individuals, including minors who have completed 10 years

of age and pensioners. Joint accounts are permitted.

MINIMUM BALANCE Rs.5/-

WITHDRAWAL FROM

ACCOUNTOnly by withdrawal slip. Cheque book will not be issued

INTEREST PAYMENT 4.00% p.a.

AMOUNT OFTRANSACTIONS The balance in the account should not exceed Rs.50,000 atany point of time and the total credit in the account should not
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exceed Rs.1,00,000/- in a year.

NO. OF TRANSACTIONS 25 transactions per half-year

PENALTY FOR

EXCEEDING THENUMBER OF

TRANSACTION

No penalty

VALUE ADDITIONS /

CONCESSIONS

No other value addition / concession allowed in the account.

Collection of instruments and issue of DD/MT will attract

normal charges. Debit Cards are not issued.

BRANCHES WHERE

ACCOUNT CAN BE

OPENED

All branches of the Bank

HomePersonal BankingSaving BankIOB - Savings Bank Gold IEmailPrintLarge Print

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IOB presents a unique high end SB product for professionals such as Doctors, Lawyers, CAs,

Executives working in MNCs, software companies, High Networth individuals etc. We offer

host of concessions under this product. All it requires is that you should maintain an average

daily balance of not less than Rs.50000 over the last three months.

Details Description

ELIGIBILITY All individuals including professionals such as doctors,

lawyers, C.A.s; Executives working in MNC, software

companies, Public/private sector and business people, High

Net Worth individuals, CEOs, IAS and IPS.

MINIMUM BALANCE

REQUIREMENT

The average daily balance over the last three months should

not be less than Rs.50000.

SPECIAL FEATURES /

CONCESSIONS

ATM card on day one. International Debit Card without charges. Internet banking Personalized Multi city cheques issued at MICR

centers free.

Monthly account statements over E-mail. SMS alerts for daily transactions. Transfer of funds through RTGS without charges. Transfer of funds thro' NEFT without charges. Personalised cheque books with name printed free of

cost.

Personal Accident Insurance covers of Rs. Five lakhsfree of cost.

Anywhere Banking in CBS/TBA branches.
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Preferential rate for gold coins ATM usage at any Bank free. Demat account opening charges free. Online Tax payment free of cost. Online bill payment facility. Facility for Family Health Insurance.

If the quarterly average balance is between Rs 50,000 and

savings bank deposit schemes

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