Indian Bank offers a variety of savings accounts, each dedicated to excellence. The Indian Bank Savings Accounts are meant to appeal to a broad range of consumers while adding value to the services they provide.
Here enlisted are the Indian Bank Savings Account Interest Rates, features, types, steps to open an account and more information to know about.
Savings account interest rate Indian Bank table-
Indian Bank Savings Interest Rate
Up to Rs. 10 lakhs
More than Rs. 50 lakhs - Rs. 200 crores
More than Rs. 200 crores
The following are the prominent characteristics-
You can visit the closest branch with relevant documents and open a bank account.
To go for Indian Bank Savings Account Opening Online, get the form from Indian Bank's official website/portal.
Fill in the required information, attach copies of KYC documents, and paste pictures in the appropriate columns. Submit the documents and form for verification. Following that, you will be given a welcome package.
You will receive an account activation notification after a few business days.
Individuals can open Indian Bank Savings Accounts either individually or jointly.
Rs. 51 - Rs. 61
Rs. 5 - Rs. 28
Local Cheque Collections
Up to Rs. 56
Following are the various types of Savings Accounts that can be opened at Indian Bank-
This is a no-frills IB saving account that comes with a lot of features, such as a nomination facility, three free ATM transactions at other banks in metro areas, and five free ATM transactions at other banks in non-metro areas.
A minimum balance of Rs. 1000 with a chequebook facility and Rs. 500 without a chequebook facility is required. For genuine students and pensioners, the minimum balance requirement is lower.
Professionals, businessmen, self-employed individuals, and regular employees are all eligible to open this savings account, which requires a minimum balance of Rs. 10000. Benefits of this account include at least two free demand drafts totaling Rs. 10,000 and free personal accidental cover totaling Rs. 1 lakh.
This SB Platinum is specifically created for HNIs and corporate professionals and includes a sweep facility (every Sunday) of Rs. 10,000 minimum and multiples.
It allows you to convert excess savings account balances to Short Term Deposits. The term deposit period ranges from 15 to 180 days. This account is linked to a term deposit, into which excess monies from the savings account can be deposited on a daily basis.
You must keep a minimum balance of Rs. 5000 in the account. This is an excellent savings account for business owners, self-employed individuals, young professionals, and individuals with regular jobs.
This account comes with perks like a personalized cheque book and free accidental insurance coverage of Rs. 1 lakh for account users up to the age of 70.
This account can be opened by professionals, self-employed individuals, business owners, or regular employees. This account will come with a personal accident insurance coverage of Rs. 1 lakh and one free monthly demand draft for Rs. 5000.
This is a savings account with no minimum balance aimed at first-time savers. There is no required minimum balance in the account.
The Vikas Savings Khata comes with perks, including ten free monthly transactions, a free ATM cum debit card, one demand draft or BPO with no fees for issuance to third parties, and free intra-city transactions. Other value-added services are available, provided you meet the KYC requirements.
This savings account is intended for small children (11 days to less than 18 years).
The account must have an average monthly balance of Rs. 250 with a cheque book and Rs. 100 without a cheque book. The IB Smart Kid SB Account allows funds to be transferred from the parent's or guardian's account to the child's account.
Salaried employees in all industries will receive 60 free personalized cheques, two free RTGS and NEFT transactions per month, a pre-opened welcome kit, free mobile alerts, a three-in-one Demat account, free mobile, and internet banking (Ind Pay), an overdraft facility of up to 80% (between Rs. 10,000 and Rs. 2 lakhs), and other benefits.
To open an IB Surabhi savings account with the Indian Bank, you must be a housewife or a working woman, or a first-time account holder with a daughter/son and husband, and above the age of 18.
Regular and premium account users will both receive free SMS alerts, preferential rates on vehicle and personal gold loans, a 20% discount on first-year locker rent, unlimited ATM withdrawals at their own bank ATMs, and five free withdrawals per month at other banks' ATMs.