Can I open zero balance account in IOB?
Account can be opened with zero balance. However, in order to be eligible for certain concessions provided with this account, account holders must maintain a Quarterly Average Balance of not less than Rs 5,000. No minimum balance requirement. No minimum balance requirement.
No minimum balance Also, the zero balance feature is available for individuals residing in the urban and rural centres and no penalty is charged for not keeping any balance. The minimum balance requirement of a regular savings account of Indian Bank is Rs. 500.
What is the charge for not maintaining minimum balance in IOB?
Charges and Fees
What is minimum balance in IOB?
It is Rs.500 for non-cheque operated account and Rs.1000 for cheque operated account in other branches.12-Feb-2021
Special Feature. Kotak Mahindra Bank has introduced three kinds of zero balance accounts out of which Kotak 811 Full KYC account is the most useful as it provides a cheque book and a debit card (if required by paying INR 199) and a free digital debit card. Facility of NEFT, IMPS, RTGS available without any charge.15-Nov-2022
Which bank minimum balance 500?
List of All Banks Savings Account Interest Rates and Minimum Balance 2022
HDFC BankKids Advantage: HDFC Bank offers this type of account and ATM/international debit card along with it to kids aged between 7-18 years old. As this is quintessential years of being a student, it is important to learn managing money and understanding the dynamics of a bank account and debit card.
Which bank account is best?
Performance Of the Top Savings Bank Accounts of 2022
GST at the applicable rate will be charged extra.
What is money minimum balance?
What Is a Minimum Balance? Many banks and credit unions require that you keep a minimum amount of money in a checking or savings account. This is generally known as a minimum balance requirement. In some cases, maintaining a minimum balance may let you reduce or eliminate fees or earn a higher APY.24-Nov-2021
You can be penalized for not keeping the minimum balance. There is no limit on the penal charges that a bank will charge for the non-maintenance of the minimum balance. The charges have to be approved by the bank's board. Charges will vary from bank to bank and from branch to branch as well.25-Feb-2022
Is IOB a government bank?
IOB was one of the 14 major banks that were nationalized in 1969. On the eve of Nationalization in 1969, IOB had 195 branches in India with aggregate deposits of Rs. 67.70 Cr.
Every year the bank deducts Rs 150 from the account of internet banking and then 18 percent GST is also charged with it. This means that the bank charges Rs 150 and deducts Rs 27 as GST i.e. Rs 177. In such a situation, if you are using internet banking, then money has been deducted from your account because of this.23-Aug-2021
How much can I deposit in IOB bank?
The minimum deposit accepted under the scheme is Rs. 1 lakh and in multiples of Rs. 10,000. There is no limit on maximum deposit accepted.Deposit_Policy.
Customers of Indian Overseas Bank can check their account balance by sending an SMS to 8424022122 from their registered mobile phones. Send the SMS to 8424022122; it is the IOB balance check number. It needs to be sent with the format "BAL Last four digits of Account Number>."
Can I open IOB bank account online?
Can I open IOB bank account online? Individual or Single Accounts can be opened via online application with a minimum amount of Rs 10,000.
Savings Bank Account Following are the features of the account: Type of Account: With or without cheque facility. Minimum Balance: INR 1,000 with cheque facility, INR 500 without cheque facility.12-Jan-2022
Which bank is best for students?
Compare the Best Banks for Students
The best savings accounts 2022
Can I have two accounts in same bank?
While there's no limit to how many Savings Accounts you can have, there are a few things to consider before signing up for more than one.
Can I open zero balance account in IOB?