IOB Eco Savings Account
Detailed Features of “IOB Eco Savings Account”
| Sr. No. |
Scheme Name/Features |
IOB Eco Savings Account |
|
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
|
|
Extend of Shortfall
|
Metro and Uran
|
Rural and Semi-Urban
|
|
Shortfall <50%
|
Rs. 110/-
|
Rs. 75/-
|
|
Shortfall >50%-75%
|
Rs. 130/-
|
Rs. 90/-
|
|
Shortfall >75%
|
Rs. 150/-
|
Rs. 105/-
|
|
|
22
|
Availability of My Account My Name Facility
|