What we are going to look at through this article is Indian Bank Savings Account We will look at this in detail through this article. It is possible to open the account with or without the ability to write checks, and it is available in both rural and semi-urban areas. The required minimum balance with the ability to write checks is Rs. 1000; without it, Rs. 500.
A minimum balance of Rs. 2500 with check capability and Rs. 1000 without check capability is required in metro and metropolitan areas. For savings accounts, there is no maximum deposit amount, and Indian Bank provides 20 complimentary cheque leaves each year.
In addition, the bank provides free Rupay ATM/Debit cards, 50 free withdrawals every six months, ECS/RTGS/NEFT services, Demat, locker, and credit card services, and nomination services.
Indian Bank Savings Account Interest Rates 2022
| Savings Account | Indian Bank Interest Rates |
| Savings Bank Account | 2.75% p.a. |
| IB Smart Kid | 2.75% p.a. |
| SB Platinum – Savings Bank Platinum Account | 2.75% p.a. |
| IB – Sammaan | 2.75% p.a. |
| IB Mahila Shakti for Women | 2.75% p.a. |
| IB Kishore: Savings Bank Account for Minors | 2.75% p.a. |
| IB GenX for the Vibrant Youth | 2.75% p.a. |
| IB Salaam – Special Account for Defence Personnel | 2.75% p.a. |
| Savings Bank Account for Pensioners | 2.75% p.a. |
| Motor Accident Claim Tribunal (MACT) Savings Bank Account | 2.75% p.a. |
| IB DIGI Online SB Account | 2.75% p.a. |
| Small Account | 2.75% p.a. |
| SB for Students under Government Scholarship and SB for DBT | 2.75% p.a. |
| SB for Central/ State Government/ Consular Office & IND PFMS | 2.75% p.a. |
| IB Corp SB: Payroll Package Scheme for Salaried Class | 2.75% p.a. |
| Type of Savings Account | Primary Features |
| Saving Bank | Concession on minimum balance for pensioners and bonafide studentsFree ATM card for the first year |
| IB Smart Kid | Easy to manage savings account for childrenEligible for ATM/debit card |
| SB Platinum | Suitable for high net worth individuals or corporate executivesSweep facility available |
| Vikas Savings Khata | A no-frills bank account for low-income individualsEligible to avail all value-added services* |
| IB Corp SB – Payroll Package Scheme for Salaried Class | Designed specifically for the salaried classMany facilities like no charges for non-maintenance of minimum balance |
Documents Required to Open Indian Bank Savings Account
- Application form signed and completed
- Driving License, PAN Card, Aadhaar Card, Passport, Voter ID are all acceptable forms of identification.
- Address Proof (any of the following): a property tax bill, a utility bill, an Aadhaar card, or any other government-issued address proof.
- Copy of Income Tax PAN
- In the case of a minor account, you must submit address proof and ID of the parent/guardian, birth proof of the minor, a photograph of the minor and the guardian/parent, and a declaration form signed by the guardian/parent.
Read Also: Indian Bank Debit Cards
Final Words
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