| हिन्दी | Color Theme
Last Updated on 07/11/2019
IOB_Platinum_Special

Eligibility

Kids - 1 day to 10 years. (opened as a Joint Account with Parent / Guardian). Above 10 years and up to 18 years – Minor Self Operated.

Minimum Balance Requirement

Rs.100 for Non cheque book account Rs.250 for cheque book account

Special Features / Concessions

  • Max. balance Rs.50,000/-only. (If the account is in the nature of Self – Operated Minor Account, ceiling of Rs. 50,000 shall be applicable. However, if the account is operated by Parents, ceiling of Rs.50,000 shall not be insisted)
  • Cheque Book Facility for parent’s maximum withdrawal of Rs. 2,000 per cheque leaf
  • Free collection of cheques/DDs gifted to the child up to Rs.25,000/- per annum (In INR or FC)
  • Liqui deposit Facility (Sweep-In, Sweep-out Facility): The balance exceeding Rs. 10,000 will be swept out and kept in Term Deposits in units of Rs. 2,000/-. And when the minimum balance goes down, the adequate units in Term Deposits will be closed and transferred to SB on Last in first out (LIFO) basis. Liqui deposit Facility (Cut off Level for Sweep in) : Rs. 8,000.