Last Updated on 20/02/2021
IOB Corp Salary Account

Minimum Balance:

Can be opened and maintained at Zero Balance as long as he/she associated with that organisation and receiving salary in the same account. (Average quarterly Balance Up to Rs. 50,000/-)

Liqui Deposit Facility: NIL

Special Features / Concessions:

  • Free Internet Banking & Mobile Banking
  • No Cash Handling charges
  • Free Stop Payment of cheques
  • Free Passbook
  • Free RTGS/NEFT facility
  • Free SMS alerts on transactions
  • Free Standing Instructions
  • FREE – Rupay Classic Card
  • 1 Cheque Book free with 60 leaves (or) FREE Personalised cheque book with 60 leaves
  • Free Personal Accident Insurance (Death/Permanent Disability) Coverage of Rs. 1.00 Lakhs for self and an additional Coverage of Rs. 50,000/- for spouse.
  • FREE Credit Card based with a base limit of Rs. 20,000. (Provided the customer satisfy the Bank requirements and eligibility norms)
  • Maximum of Rs. 50,000/- per day in ATM. Maximum Rs. 2,00,000/- per day in POS/E Comm
  • Overdraft Facility: Up to One month net salary at the rate of interest applicable to temporary overdraft facility. (Provided the customer’s a/c is satisfactory and without adverse comments in CIBIL report). (*EMI Options available – Repayable in 3 Months).
  • Free monthly account statements through emails
  • 25% concession in processing charges for Retail Loans: Housing Loan, Vehicle Loan and Educational Loan. (For the 1st Loan)
  • 50% concession on Demat Account charges - for first year only.


(In Case of Retirement / Switch Over to the other organisation the A/c will be treated as Regular SB A/c wherein he/ she would have to maintain the required balance).