For rural and semi-urban branches, minimum balance of Rs 100 must be maintained for non-cheque operated accounts; Rs 500 for cheque operated accounts. For all other branches, minimum balance of Rs. 500 for must be maintained for non-cheque operated account and Rs. 1000 for cheque operated account.
Regular Savings Bank Account
You will need to maintain a minimum balance of Rs. 100/- for non-cheque operated accounts in branches in rural and semi-urban areas. It is Rs. 500 for non-cheque operated accounts and Rs.Best Banks for Savings Accounts of May 2020
| Bank | Why We Picked It | APY |
|---|
| Discover | Best for All-in-One Banking | 1.40% |
| FitnessBank | Best for High Rates | 1.90% |
| First Foundation Bank | Best Runner-Up for High Rates | 1.75% |
| Prime Alliance Bank | Best for Business Accounts | 1.00% |
| IOB RUPAY CARD-CLASSIC - Features |
|---|
| Eligibility | All SB accounts, CD/CC accounts in the name of individuals or Proprietary concerns. |
|---|
| Daily Cash withdrawal limit | Rs.20,000 |
| Daily limit for usage in Merchant Establishments (PoS) | Rs.50,000 |
| Daily limit for usage in Internet (E-com) | Rs.50,000 |
Other than this only following 5 banks offer higher than 3.5% interest rate: Bandhan Bank, Kotak Mahindra Bank, Lakshmi Vilas Bank, Ratnakar Bank and Yes Bank. The good news is most new age Small Finance Banks offer interest rate of 4% or higher on their savings account.
Loan can be availed against Floating Rate deposit. The deposit is accepted in select branches only for operational convenience. Transfer of deposit between branches is not permitted.
Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas.
For metropolitan city, you have to maintain a balance of Rs 1000.00 each day to avoid the charge for account with cheque book facility and that for only withdrawal slip account the amount one has to maintain is Rs. 500.00. For non maintenance of minimum balance even for a day you have to pay Rs. 118.00 including GST.
The current list of 12 public sector banks( Government Banks) State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab and Sind Bank, Indian Bank, UCO Bank and Bank of Maharashtra.
Net Banking-
- Log in to Indian Overseas Bank official website with your credentials.
- Navigate to the “Fund Transfer” option.
- Please select 'IMPS Funds Transfer'
- From the drop down of beneficiaries, please choose the beneficiary you wish to send the funds to.
- Enter the amount and confirm the transaction.
Checking Indian Overseas Bank account balance using missed call service. Dial the number- 04442220004 using your registered mobile number. After a few rings, the call will get cut automatically. The Bank will then respond with account balance details via SMS.
How to Open a Bank Account
- Choose a Bank or Credit Union.
- Visit the Bank Branch or Website.
- Pick the Product You Want.
- Provide Your Information.
- Your Financial History.
- Consent to the Terms.
- Print, Sign, and Mail (If Required)
- Fund Your Account.
The procedure to open a Savings bank Account online is very simple. Most banks have an online application procedure for opening Savings bank Accounts. A step by step procedure to open a Savings Account online is: Research which savings bank account you would like to open.
Kotak Mahindra bank offers one of the highest savings account interest rate in India. You would get up to 6% interest rate on your savings account. Even the FD interest rate of SBI, HDFC and ICICI ranges between 6 to 7%.
How to Open A Bank Account
- Choose a Bank or Credit Union.
- Three Basic Categories of Banks.
- Visit the Bank Branch or Website.
- Pick the Product You Want.
- Provide Your Information.
- Agree to Terms.
- Print, Sign, and Mail (If Required)
- Fund Your Account.
The respective form Nos. 1 to 4 are attached for downloading. If you want to know → IFSC Code or Your 15 Digit Account Number, please view IOB Internet Banking → Help Desk.
Indian Overseas Bank FD Interest Rates, 2020
| Tenure | General Public FD Rates | Senior Citizen FD Rates |
|---|
| 180 days to 269 days | 5.75% | 6.50% |
| 270 days to 364 days | 6.25% | 7.00% |
| 444 days | 6.35% | 7.10% |
| 1 year 1 day to 1 year 364 days | 6.25% | 7.00% |
How to activate IOB Mobile Banking App?
- Step 1: Download IOBMobile from the Google Play Store or Apple App Store.
- Step 2: Open the mobile banking app and enter the registered mobile number, mPIN and then click on “Generate OTP”.
- Step 3: Enter the OTP received on the registered mobile number and click on “Verify OTP”.
Checking Indian Overseas Bank account balance using missed call service. Dial the number- 04442220004 using your registered mobile number. After a few rings, the call will get cut automatically. The Bank will then respond with account balance details via SMS.
No. of Digits in Account Number of Different Banks in India
| SL.NO | NAME OF BANK | A/C NO DIGITS |
|---|
| 24 | IDBI BANK | 13 or 14 or 15 or 16 |
| 25 | JAMMU AND KASHMIR BANK | 16 |
| 26 | KARNATAKA BANK | 16 |
| 27 | KOTAK MAHINDRA BANK | 14 |
How to activate IOB Mobile Banking App?
- Step 1: Download IOBMobile from the Google Play Store or Apple App Store.
- Step 2: Open the mobile banking app and enter the registered mobile number, mPIN and then click on “Generate OTP”.
- Step 3: Enter the OTP received on the registered mobile number and click on “Verify OTP”.
To get mini statement, sms “MINI /space/ last 4 digit Account Number” to the number 84240 22122. If you haven't registered your mobile number with Indian Overseas Bank and want to know the balance of your account immediately then worry not.
You can find your account number at the bottom of any of your checks or on your statement. You'll find your debit card number on the front of your card.
List of All Bank with Total Digit in Bank Account Numbers
| SL.NO | NAME OF BANK | A/C NO DIGITS |
|---|
| 1 | ANDHRA BANK | 15 |
| 2 | ALLAHABAD BANK | 11 |
| 3 | AXIS BANK | 15 |
| 4 | BANK OF BARODA | 14 |
This facility is available to all the customers who a have registered mobile number with the bank. You can give a missed call on a toll- free number 1800 180 2223 and tolled number 0120-2303090 to check the account balance through SMS. The service is free of cost and you can avail it from the nearest branch.
No. of Digits in Account Number of Different Banks in India
| SL.NO | NAME OF BANK | A/C NO DIGITS |
|---|
| 22 | INDIAN OVERSEAS BANK | 15 |
| 23 | INDUSIND BANK | 13 |
| 24 | IDBI BANK | 13 or 14 or 15 or 16 |
| 25 | JAMMU AND KASHMIR BANK | 16 |
SAP Trrr In Bank Statement Of Indian Overseas Bank Transaction Codes.
The ATM will print a receipt containing the details of the last 10 account transactions. They can also go to a non-IOB ATM to check their account balance. Indian Overseas Bank customers can check their account balance by sending an SMS from their registered mobile phones to 9551099007.
Checking Indian Overseas Bank account balance using missed call service. Dial the number- 04442220004 using your registered mobile number. After a few rings, the call will get cut automatically. The Bank will then respond with account balance details via SMS.
How to Apply for Indian Overseas Bank Passbook ?
- 1) Writing an Application to the Indian Overseas Bank Branch Manager.
- 2) Gathering the Proof of Address and Identity.
- 3) Submitting the Application and Documents to Indian Overseas Bank Home Branch.
- Things to Check before moving out of the Branch with your Passbook.
Getting a copy of your bank statement is easy. Your online banking page will list out all of your statements. From there, you can download a PDF or order a paper version by mail. You can also call your bank's customer service line for help.
If you have provided your PAN Number to all the Banks where you have a FD, you will get a 26AS Statement from the eTraces website. It will give detailed statement about the Bank-Branch, each FD Principal and interest for the Financial Year.
What is a certificate of interest? This is an annual summary of interest credited or debited, which we send out at the end of the tax year. You can use it to help complete your tax return. We can also provide one in certain other circumstances, such as on the death of an account holder.
Open IOB site(www.iob.in) , click on internet banking, click on register (under individual login), choose login ID(alphanumeric 8digits)& password(alphanumeric 8-12digits) which are optional to customer and fill rest of the details & submit.
