Indian Overseas Bank Touching Hearts Spreading Smiles

Regular Savings Bank

Regular Savings Bank
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 AGAINST DEPOSIT

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:-

  • Inland drafts / mail transfers not exceeding Rs.10,000/- per month, limited to 2 occasions in a month per depositor issued without any commission/exchange.

  • Collection of inland outstation instruments such as cheques / 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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