IND PENSION-PRIME PLUS
IND PENSION-PRIME PLUS
| Target Customers | All pensioners drawing Central, State Govt./ EPF pension (including Central forces, Armed forces, Navy, Paramilitary forces etc.) irrespective of age. | |||||||||
| Joint Account | Only with Spouse under Former/ Survivor Clause. | |||||||||
| Initial Deposit | NIL | |||||||||
| Average monthly minimum balance | NIL
(However, GPA coverage of Rs. 10.00 lakh shall be provided to all the customers maintaining MAB of Rs. 10000 and above) |
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| Nomination | Mandatory | |||||||||
| Cheque Book | 20 Cheques Free in a Calendar Year. | |||||||||
| Sms Alert Charges | Free | |||||||||
| NEFT/ RTGS/ IMPS (Digital Channel) | Free | |||||||||
| Insta OD Facility | Inbuilt OD facility to pensioners–
The in-built overdraft (OD) facility allows pensioners to avail an overdraft limit based on their monthly pension credit. The maximum limit of Rs 1,00,000/- or one-month pension credit, whichever is less. This ensures easy access to funds while maintaining financial flexibility. The rate of interest (ROI) will be at par with ROI of the IB pension loan scheme on an ongoing basis. At present ROI in the product will be: Repo Rate + Prime Spread + Spread which is as under:
(OD facility will be extended up to maximum age of 75 years for regular pensioners. No Insta-OD facility for Family Pensioners to be extended) |
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| Pension Loan | Pension Loan up to 18 times of monthly pension credit for regular pensioners & for family pensioners max up to 12 times
(All terms and conditions of pension loan issued by Retail Asset Department from time to time applicable) |
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| Personal Accidental Insurance |
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| Health Care Consultation Facility | Free Health Care Consultation facility for Pensioners & spouse will be provided through a Digital Health Care Platform ( Account Holder + 4 Family Members) | |||||||||
| Jeevan Pramaan (Digital Life Certificate)/ VLC | Pensioners can submit life certificate through the video life certificate facility via face authentication or through jeevan pramaan portal. | |||||||||
| ATM Debit Card | RuPay Platinum Debit Card | RuPay Select Debit Card | ||||||||
| Free of cost Customized Rupay Platinum Debit Card for 1 years.
Special Offers under Rupay Platinum Debit Card*: · Domestic Airport lounge One (1) access per calendar year worth Rs.1000/. · International lounge One (1) time per calendar year per card worth of Rs.2000/- · Personal Accident Insurance cover (Accidental Death or Permanent Total Disability) of upto Rs. 2,00,000. Cardholder needs to perform minimum one successful RuPay Card induced financial transaction at any POS/E-com, Intra or Inter-bank i.e. on-us or off us within 30 days prior to date of accident including accident date of RuPay Cardholder.
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Free of cost Customized Rupay Select Debit Card for customers maintaining MAB of Rs. 50000 and above (or) RTD of Rs. 30.00 lakh and above.
Special Offers under Rupay Select Debit Card*:
Apart from benefits of Rupay Select Debit card as above following benefits will also be included in customized card for pensioners:
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| (*subject to Terms and Conditions of NPCI/Rupay which may change from time to time). | ||||||||||
| Maximum withdrawal at other bank ATMs. | 5 transactions free per month (Metro ATMs /Non Metro ATMs) | |||||||||
| Lockers | A fixed discount of Rs. 850/- or 50% concession on locker rent, whichever is lower to be extended. | |||||||||
| Credit card | Available subject to fulfilment of Banks eligibility criteria. | |||||||||
| Mode of Withdrawal | Cheque / Non -Cheque | |||||||||
| Other Terms & Conditions |
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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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