Indian Bank Savings Account

One of the banks to offer multiple choice in Savings Accounts is Indian Bank. They offer 7 different types of Savings Accounts, each designed for a particular category of customers and serving a distinct set of purposes.

Revision of Interest Rates on Indian Bank Savings Bank Deposits

Types of Indian Bank Savings Account

1. Savings Bank

   This is a basic savings account which provides multiple facilities like fund transfer via NEFT/RTGS, 2 free cheque books per calendar year, free collection of local cheques, charge free issue of ATM debit cards, 50 free withdrawals per half year, multi-city cheque facility and many more such features.

2. SB Platinum

   This savings account with sweep facility has been designed specially for HNIs and corporate executives. With this account, you get some added benefits like life insurance cover and Personal Accident cover for Rs 1 lakh each, free of charge inter city transactions and an ATM Debit card free of charge. This Savings account can be opened for a term of 15 days to 180 days and provides the account holder with the option of converting their excess funds in their account to a Term Deposit on a daily basis.

3. IB Smart Kid SB Account

   Specially designed for young children, this savings account allows for transfer of funds from the parents or guardian’s account to that of this child. Account holders above the age of 10 may be issued an ATM debit card and may also make use of the internet banking facilities provided with their account.

4. IB Corp SB – Payroll Package Scheme for Salaried Class

   Some of the main features of the account are mentioned below:

   • 60 cheque leaves are provided at no additional cost.
   • Free mobile banking and internet banking.
   • 2 RTGS and NEFT transactions are allowed every month at no additional cost.
   • No charges are levied in case the minimum balance is not maintained.
   • Zero balance account.
5. Basic Savings Bank Deposit Account

   Some of the main features of the account are mentioned below:

   • Nominees can be added to the account.
   • No minimum balance needs to be maintained.
   • An ATM card will be issued.
   • No charges will be levied for intercity/Intracity transactions.
6. IB – Sammaan

   Some of the main features of the account are mentioned below:

   • Individuals above the age of 60 years can open an account.
   • No minimum balance needs to be maintained.
   • No charges are levied in the case of account closure.
   • SMS alerts are provided at no additional cost.
   • A single or joint account can be opened.
7. IB Mahila Shakti for Women

   Some of the main features of the account are mentioned below:

   • The Aadhaar must be linked to the account.
   • Two variants of the account are available.
   • Overdraft facility will be provided.
   • RuPay Platinum Card will be provided at no additional cost.
8. IB Kishore – Savings Bank Account for Minors

   The main features of the account are given below:

   • The initial deposit is Rs.500.
   • No cheque book will be provided.
   • A RuPay Classic ATM card will be provided.
   • Individuals between the ages of 10 years and up to 18 years can open an account.
   • No joint account can be opened.
9. IB Gen X – For the Vibrant Youth

   Given below are the main features of the account:

   • Individuals between the ages of 18 years and 40 years can open an account.
   • No charges are levied for IMPS/RTGS/NEFT transactions.
   • A joint or single account can be opened.
   • A Demant Account is provided for the first year at no additional cost.
10. IB Salaam – Special Account for Defence Personnel

    Mentioned below are some of the main features of the account:

    • No minimum balance needs to be maintained.
    • Mobile banking and internet banking are provided free of cost.
    • No initial deposit needs to be made.
    • Individuals above the age of 18 years can open an account.
11. Savings Bank Account for Pensioners

    Some of the main features of the account are mentioned below:

    • EPF/Central/State pensioners can open an account.
    • Cheque book is provided.
    • Mobile and internet banking facility is provided.
    • No charges are levied for account closure.
12. IB DIGI – Online SB Account

    The main features of the account are given below:

    • Resident individuals above the age of 18 years can open an account.
    • No joint account can be opened.
    • Cheque book will not be provided.
    • Nominees can be added to the account online.
13. Small Account

    The main features of the account are mentioned below:

    • No monthly balance needs to be maintained.
    • The available balance in the account cannot be more than Rs.50,000.
    • Joint account can be opened.
    • Individuals can open an account.
14. SB for Students Under Govt Scholarship & SB for DT

    The main features of the account are mentioned below:

    • Cheque book will not be provided.
    • No minimum balance needs to be maintained.
    • Two different variants of the account will be available.
15. SB for Central/State Government/ Consular Offices & IND PFMS

    Some of the main features of the account are mentioned below:

    • Cheque book will be provided at no extra cost.
    • No minimum balance needs to be maintained.
    • Service charges are provided free of cost.
    • SMS alerts are provided free of cost.
16. MACT SB

    The main features of the account are mentioned below:

    • Individuals can open an account.
    • No minimum balance needs to be maintained.
    • Withdrawals can be done via Bio-Metric authentication or withdrawal slips.
    • You cannot transfer money without the Court’s permission.
    • No debit card will be provided.

Indian Bank Minimum Balance Requirement

Indian Bank Savings Account Charges

Eligibility - Indian Bank Savings Account

Indian Bank Savings Accounts can be opened by individuals singly or jointly.