Indian Overseas BankIOB Savings Account

Indian Overseas Bank is a public sector bank which was founded in 1937. It looks after the needs of customers by providing them an opportunity to open a savings account. IOB looks to maximize their subscriber's capital by providing some great interest rates on their account. Currently, It comes with an interest rate of 4% per annum and is payable on daily product basis.

Types of Savings Accounts offered by IOB:

The regular savings bank account can be applied as a joint account, by an individual, minors who have completed at least 10 years of age, Trusts, Associations, NGOs, Co-operative Societies, Government Bodies, Educational institutions and other non-trading organizations.

Minimum Balance Requirement:
  • Regular Savings Bank Account
  • IOB – Savings Bank Gold I
  • IOB – Savings Bank Gold II
  • IOB – Savings Bank Silver I
  • IOB – Savings Bank Silver II
  • IOB – Student Savings Account
  • IOB Corporate Salary Account
  • Savings Bank Platinum Special
  • IOB SB Small Account
  • Basic savings Bank Deposit Account
  • Savings Bank – Little Star
How to open IOB savings account online:
  • Open the Indian Overseas Bank portal and click on 'Register for Account Opening'.
  • Now, a new page will appear asking for your personal details and more. Make sure you fill that form according to the information provided on you documents.
  • Columns with asterisks (*) are mandatory to fill.
  • After all the information has been put on the form, you have to re-check all the columns once again before submitting. Once you have verified all the details, click on 'Click to Register for Account Opening' to advance to the next step.
  • After clicking on the above given link, your screen will pop a message displaying 'Registration Successful'. There will be a registration number also provided with this message; you have to note it down carefully for verification purpose.
  • After this, your application form can be printed and if you can't for some reasons, there is an option called 'Reprint Application form'. From here, you can print the form.
Fees and Additional Charges:
  • The subscriber will get 3 free transactions for six metro city branches and 5 free transactions for other city branches (applicable for ATMs other than IOB ATMs).
  • The subscriber when requesting a chequebook through an ATM will be charged with Rs 55 for every request.
  • There are no charges applied if the subscriber tends to close his/her account after one year.
Required Documents:
  • Application form filled with correct details as per mentioned in your documents.
  • A copy of Address proof and ID proof mentioned in the application form.
  • Two passport size photos.
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