“IND Corp SB – Elite” Payroll package scheme for Salaried Class with bundled Group Personal Accidental Insurance (PAI)
“IND Corp SB – Elite” Payroll package scheme for Salaried Class with bundled Group Personal Accidental Insurance (PAI)
Bank is offering “IND Corp SB – ELITE” which offers Personal Accidental Insurance coverage, which is competitive and attractive.
KEY FEATURES OF THE PRODUCT
| Target Group
|
Regular Employees of Companies/Organizations in Government or Govt. undertakings of Central or State or PSUs having Banking relationship with our Bank are eligible to open Corporate Salary accounts of their employees under “IND Corp SB – ELITE”. |
| Eligibility | Employees in the age group 18 – 60 years with at least 6 month of confirmed service and whose salaries are credited/going to be credited in Bank’s accounts are eligible to avail the benefits.
(Police / Defence / Security Personnel are not eligible to open accounts under this product.) |
| KYC | · Applicable documents for opening of Savings bank account as per the extant guidelines
· Employee ID & Undertaking from Customer (Format enclosed). |
| Average Minimum Quarterly balance | Minimum Quarterly Average Balance (QAB) of Rs. 5,000/- to be maintained to be eligible to get “IND Corp SB–ELITE” benefits. |
| Credit Card | Credit Cards will be provided to the Customer depending upon the eligibility as per the guidelines of Retail Asset Department. |
| Insurance cover on Debit/ Credit Cards | · Free Personal Accident Insurance coverage as available under RuPay Platinum Debit card provided by NPCI.
· Air Accident cover as available under Credit Card. |
| Free Personal Accidental Insurance (PAI) cover | · Personal Accidental Death Insurance cover of Rs. 30.00 lakhs (Rs. Thirty Lakhs only).
· Accidental Permanent Total Disability cover of Rs. 30.00 lakhs (Rs. Thirty Lakhs only) · Accidental Permanent Partial Disability cover of Rs. 15.00 lakhs (Rs. Fifteen Lakhs only) · Air Accident Death Insurance cover of Rs. 50.00 lakhs (Rs. Fifty Lakhs only) · The Insurance cover will be applicable from 10thday of the 3rd month after the credit of two months of salary in the account. |
| Terms and conditions apply. For details visit 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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