Overview of Indian Bank Savings Bank
“Savings Bank” by Indian Bank is a unique way customers can save money in a simple manner. This type of account comes with multiple salient features including free ATM cards/Debit cards, free collection of local cheques etc.
|Initial Deposit Requirements||Nil|
|Minimum Amount||Minimum amount for non-cheque operation is Rs.250/- Minimum balance for cheque operation is Rs.500/- Pensioners and bonafide students may have lesser minimum balance|
|Debit Card Offered||Free ATM cards/Debit cards provided|
|Interest Rate||In January and July on a daily product basis|
Services Offered with Savings Bank- Indian Bank
The following services are provided with Indian Bank savings account:
|ECS/RTGS/NEFT facilities||NEFT/ RTGS/ ECS facilities are available with this type of account|
|ICOOC ( Local / Outstation) facility||ICOOC ( Local / Outstation) facility available|
|Cheque Book||· For cheque operated SB accounts, two cheque books of 2x20 leaves are offered for free in a calendar year. · The service of collection of local cheques is offered free of charge Collection of Outstation cheques will be charged with prescribed charges · Intra city transactions will not be charged|
|Cash Withdrawal||For every six months, 50 withdrawals will be permitted for free.|
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GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.