Indian Bank Account Opening | Indian Bank Account Opening Form | Indian Bank Account Opening Minimum Balance | Indian Bank Account Charges
To satisfy the demands of their customers, Indian Bank offers a variety of savings accounts with a variety of incentives. The article will tell you details about the Indian Bank Account Opening. The bank offers competitive interest rates as well as a variety of additional services such as free ATM transactions, net banking, and more.
- Up to Rs.50 lakh in savings deposits: 2.90 percent p.a.
- 2.90 percent p.a. on savings deposits over Rs.50 lakh
Indian Bank is one of the institutions that offer a variety of savings accounts. They have seven different types of savings accounts, each tailored to a specific customer segment and servicing a specific set of needs.
Table of Contents
Revised Interest Rates on Indian Bank Account Opening
| Particulars | Rate of Interest |
| Saving Deposits Balance up to Rs.50 lakh. | 2.90% p.a. |
| Saving Deposits Balance above Rs.50 lakh. | 2.90% p.a. |
Note: The interest rates are applicable as of November 21, 2020.
Central Bank of India Account Opening Form
Types of Indian Bank Savings Account
Savings Bank Account
This is a basic savings account that includes a variety of services such as fund transfer via NEFT/RTGS, two free check books per calendar year, free collection of local cheques, charge-free ATM debit card issue, 50 free withdrawals every half year, multi-city cheque facility, and more.
SB Platinum
This savings account with sweep facility was created with HNIs and corporate professionals in mind. You get some extra perks with this account, such as life insurance and personal accident insurance for Rs 1 lakh each, free intercity transactions, and a free ATM Debit card. This Savings account can be opened for a period of 15 to 180 days and allows the account user to convert surplus monies in their account to a Term Deposit on a daily basis.
IB Smart Kid SB Account
This savings account, which is specifically developed for young children, allows money to be transferred from a parent’s or guardian’s account to the child’s account. Account holders above the age of ten can receive an ATM debit card and access the internet banking services that come with their account.
IB Corp SB – Payroll Package Scheme for Salaried Class
- The following are some of the account’s primary features:
- A total of 60 cheque leaves are included at no extra charge.
- Mobile banking and internet banking are both free.
- Every month, two RTGS and NEFT transactions are permitted at no additional cost.
- If the minimum balance is not maintained, there are no fees.
- Zero Balance account.
Basic Savings Bank Deposit Account
The following are some of the account’s primary features:
- Nominees for the account can be added.
- You don’t need to maintain a minimum balance.
- There will be an ATM card issued.
- Intercity/Intracity transactions will be free of charge.
Canara Bank Account Opening Form
IB – Sammaan
The following are some of the account’s primary features:
- An account can be opened by anyone above the age of 60.
- You don’t need to maintain a minimum balance.
- If you close your account, you won’t be charged anything.
- SMS alerts are available at no extra charge.
- It is possible to open a single or joint account.
IB Kishore – Savings Bank Account for Minors
The following are the account’s primary features:
- The first deposit is 500 rupees.
- There will be no chequebook available.
- You will be given a RuPay Classic ATM card.
- Individuals between the ages of ten and eighteen are eligible to open an account.
- Joint account can’t be opened
IB Gen X – For the Vibrant Youth
- An account can be opened by anyone between the ages of 18 and 40.
- IMPS/RTGS/NEFT transactions are free of charge.
- It is possible to open a joint or single account.
- For the first year, a Demant Account is offered at no cost.
IB Salaam – Special Account for Defence Personnel
Some of the account’s primary features are listed below:
- You don’t need to maintain a minimum balance.
- The use of mobile banking and online banking is completely free.
- There is no need to make an initial deposit.
- An account can be opened by anyone over the age of eighteen.
IB Mahila Shakti for Women
The following are some of the account’s primary features:
- The account must be connected to the Aadhaar number.
- There are two types of accounts accessible.
- There will be an overdraft facility available.
- The RuPay Platinum Card will be issued free of charge.
Bank of Maharashtra Account Opening
Savings Bank Account for Pensioners
The following are some of the account’s primary features:
- Pensioners from the EPF, the Central Government, and the States can open an account.
- There is a chequebook available.
- Mobile and online banking are available.
- There are no charges for account closure.
Small Account
The following are the account’s primary features:
- There is no need to keep a monthly balance.
- The account’s available balance must not exceed Rs.50,000.
- It is possible to open a joint account.
- Individuals are able to open accounts.
SB for Students Under Govt Scholarship & SB for DT
The following are the account’s primary features:
- There will be no chequebook provided.
- You don’t need to maintain a minimum balance.
- The account will be offered in two separate versions.
SB for Central/State Government/ Consular Offices & IND PFMS
The following are some of the account’s primary features:
- A chequebook will be provided at no additional charge.
- You don’t need to maintain a minimum balance.
- Service charges are not included in the price.
- SMS alerts are given without charge.
MACT SB
The following are the account’s primary features:
- Individuals are able to open accounts.
- You don’t need to maintain a minimum balance.
- Biometric authentication or withdrawal slips are both options for withdrawals.
- You cannot transfer funds without the consent of the court.
- There will be no debit card given.
Bank of Baroda Account Opening Form
Minimum Balance Requirement for Indian Bank Account Opening
| Savings Bank | Rs.500 (non cheque operation) Rs.1,000 (cheque operation) |
| IB Corp SB | Nil |
| Basic Savings Bank Deposit Account | Nil |
| IB Smart Kid | Rs.100 (non-cheque operation) Rs.250 (cheque operation) |
| SB Platinum with Sweep Facility | Rs.25,000 |
| IB Sammaan | Nil |
| IB Mahila Shakti for Women | Rs.1,000 |
| IB Kishore | Nil |
| IB Gen X | Rs.1,000 |
| IB Salaam | Nil |
| Savings Bank Account for Pensioners | Nil |
| IB Digi | Contact the bank |
| Small Account | Nil |
| SB for Students Under Government Scholarship & SB for DBT | Nil |
| SB for Central/State Government/Consular Offices & IND PFMS | Nil |
| MACT SB | Not applicable |
Open Post Office Savings Account
Charges for Savings Accounts in Indian Bank
| ATM transactions | Free at Indian Bank ATMs; Free at other bank ATMs for 5 transactions |
| Account Closure | Ordinary SB Accounts – Rs 51 (individuals); Rs 61 (non-individuals); Rs 40 (special category of customers like senior citizens, pensioners, etc.) |
| Collection of local cheques | Free of charge |
| NEFT | Up to Rs 1 lakh – Free Above Rs 1 lakh & up to Rs 2 lakh – Rs 12 per transaction Above Rs 5 lakh – Rs 28 per transaction. |
| RTGS | Rs 2 lakh to Rs 5 lakh – Rs 25 + applicable time-varying tariff subject to a max. of Rs 30. Above Rs 5 lakhs – Rs 50 + applicable time-varying tariff, subject to a max. amount f Rs 56. |
Indian Bank Savings Account Eligibility
Individuals can open an individual or joint Indian bank savings accounts.