New SB Product for Salaried Customers IND SALARY SURAKSHA
New SB Product for Salaried Customers IND SALARY SURAKSHA
A special salary product “Ind Salary Suraksha” for regular working employees of Government/PSU /Private sector companies is being launched on date.
This product offers combo benefits of Personal Health Insurance & Personal Accidental Insurance, subject to fulfilment of minimum quarterly average balance(QAB) criteria in two variants of QAB of Rs.20000/- and Rs.25000/- respectively.
KEY FEATURES OF THE PRODUCT
| Quarterly Average Balance QAB (Rs.) | Annual Health Insurance Coverage (Rs.) | Personal Accident Coverage (Rs.)* |
|---|---|---|
| >= 20000/- | 1.00 Lac | Not Eligible |
| >= 25000/- | 1.00 Lac | · Personal Accident Death Insurance Cover Rs. 30 Lakhs
· Accidental Permanent Total Disability cover of Rs 30 lakhs · Accidental Permanent Partial Disability cover of Rs 15 lakhs · Air Accident Death Insurance Cover of Rs 50 Lakhs. |
| ELIGIBLE CUSTOMERS | Regular permanent Employees of Government /PSU /Private sector companies with at least six-month service with their organization. |
| AGE GROUP | Entry Age – 18 years
Exit Age – 60 years or the period up to which the employee is in service whichever is earlier. |
| OPERATION | Single |
| INITIAL DEPOSIT | NIL |
| CHEQUE BOOK | Free |
| DEMAND DRAFT | Free , If issued through Salary account |
| RTGS/NEFT | Free |
| NATURE OF OPERATION | Cheque |
| AVERAGE QUATERLY MINIMUM BALANCE | Depending on the product variant opted by the customer for maintaining the QAB of either
>=Rs. 20000 >=Rs. 25000 If QAB is not maintained, Penalty for non-maintenance of minimum balance of Savings Bank Account will be applicable as per prevailing Bank Service Charges and the envisaged insurance facilities under the scheme will be discontinued. |
| SMS ALERT | Free |
| NET BANKING /MOBILE BANKING | Free –NEFT/RTGS
Free –IMPS/UPI |
| ATM DEBIT CARD | Free Rupay Platinum card with AMC free |
| MAXIMUM WITHDRAWAL AT OTHER BANK ATMs | Free |
| ACCIDENTIAL INSURANCE COVER ON DEBIT CARD | Rs.2 Lacs
Personal Accidental Insurance with Rupay Platinum Debit card is subject to terms and conditions of debit card company which may change from time to time. |
For more details: Visit nearest branch
Frequently Asked Questions (FAQs)
Find answers to commonly asked questions about Indian Bank Savings Bank Account.
1. What is a Savings Bank Account?
A Savings Bank Account is a deposit account that allows you to securely save money, earn interest on your balance, and access banking services such as ATM, UPI, internet banking, and mobile banking.
2. Who is eligible to open an Indian Bank Savings Bank Account?
Resident individuals, minors (under applicable schemes), senior citizens, and other eligible customers can open a Savings Bank Account with Indian Bank by fulfilling the prescribed KYC requirements.
3. How can I open a Savings Bank Account with Indian Bank?
You can open a Savings Bank Account by visiting your nearest Indian Bank branch or through the online account opening facility, where available, after completing the required KYC process.
4. What documents are required to open a Savings Bank Account?
To open a Savings Bank Account, you generally need valid identity proof, address proof, PAN or Form 97, Aadhaar (where applicable), passport-size photographs, and other KYC documents as prescribed by the bank.
5. What is the interest rate on an Indian Bank Savings Bank Account?
The Savings Bank Account interest rate is determined by Indian Bank and may vary as per the applicable interest rate policy. Please refer to the latest interest rates published by the bank.
6. Is there a minimum balance requirement for a Savings Bank Account?
There are no charges for non-maintenance of minimum balance in Savings Accounts. However, premium Savings Account variants require a minimum balance to avail value-added benefits such as insurance coverage, concessions on service charges, and more. Please check the specific account type for applicable balance requirements.
7. Can I open a joint Savings Bank Account?
Yes. Indian Bank allows eligible customers to open a joint Savings Bank Account as per the bank's terms and conditions.
8. What banking facilities are available with a Savings Bank Account?
Indian Bank Savings Bank Accounts offer facilities such as ATM/debit card, UPI, internet banking, mobile banking, cheque book, SMS alerts, and fund transfer services, depending on the account type.
9. Can I open a Savings Bank Account online?
Yes. Indian Bank offers online account opening for eligible customers under applicable account schemes and KYC guidelines.
10. How is interest calculated on a Savings Bank Account?
Interest on a Savings Bank Account is calculated based on the applicable daily balance method and is credited periodically as per the bank's policy.
11. Can I convert my existing Savings Bank Account to another account variant?
Yes. Subject to eligibility and the bank's policies, you may request to convert your existing Savings Bank Account to another eligible savings account variant.
12. Why should I choose an Indian Bank Savings Bank Account?
Indian Bank Savings Bank Accounts offer secure banking, competitive interest rates, digital banking facilities, multiple account variants, and convenient access through a wide network of branches and ATMs.
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