1

Eligibility

Indian Resident individuals above 18 years of age, who are eligible to open savings bank accounts and wish to open an account which will be verified through Aadhaar & PAN Card.

2

Mode of Account Opening

Account Opening through Online mode only (VKYC & TAB BASED)

3

Quarterly Average Balance (QAB)

Metro and Uran Rs. 2000/-

Rural and Semi-Urban-Rs 500/-

4

Cash Deposit and Withdrawal

Customers are discouraged from physical cash deposit and withdrawal at branch counter as the same would run contrary to the very purpose of eco-friendly initiatives. However, in the case of exigency, customers may be allowed to withdraw cash through withdrawal slip with OTP validation on his/her registered Mobile

5

Rate of Interest in SB

Same as the regular SB Scheme

6

Internet & Mobile Banking Facility

Free

7

NEFT/ RTGS/IMPS Facility Charges

Nil through Net Banking and Mobile Banking only

8

SMS Charges

As per applicable charges

9

FREE Personal Accident Insurance -With account

Rs. 2 Lakhs

10

Concession in Processing charges for E vehicles loans-Both two & Four wheelers), IOB Surya loan and IOB Surya HL after one-year completion of SB account

100% concession in E vehicles loans-Both two & Four wheelers), and 25 % concession in IOB Surya loan and IOB Surya HL

11

Locker rent Concession after one-year completion of SB account (only one locker)

10% waiver in rent

12

Cheque Books/ Demand Draft

No Cheque Books / Demand Draft is allowed under this scheme

13

Account Statement through e-mail/e-Statement charges

Nil, No paper statement will be issued under this scheme

14

SWEEP OUT FACILITY

(Flexi Facility)-maximum limit Rs 1.5 Cr per week

(weekly sweep out frequency)

Available, if the balance exceeding Rs 50,000 will sweep out and kept in TD

15

Core Deposit/Threshold Deposit

Rs. 50,000/-

16

Sweep Out Amount

Rs. 5,000/-

17

Sweep Out Periodicity

(From SB to FD account)

Upto 179 Days

18

Type of Debit Card

Renewable PVC (rPVC) debit cards will be issued in place of plastic debit cards. Only personalized Rupay classic rPVC debit cards will be issued.

19

rPVC Debit Card Issuance & Annual Maintenance Charges

Issuance charges is NIL; however, AMC charges will be applicable if QAB for any quarter is not maintained

20

Standing Instructions/ Utility Bill Payment, online Tax payment charges

Nil

21

Non-Maintenance of QAB per Quarter

22

Availability of My Account My Name Facility