IOB – Savings Bank Silver I

Savings Bank Silver I account scheme by Indian Overseas Bank facilitates those individuals employed at any known software firms, any public or private sector organizations or at any government led institutions. It is a zero balance account but requires a minimum quarterly average balance of Rs 5000 to avail the banking benefits.

IOB Savings Bank Silver I Account Features

  • An international Debit card is issued to the subscriber for free for making easy and secure cashless transactions and online payments.
  • The subscriber will get regular updates on his/her account details via the subscriber's registered email ID and an SMS will be send to the subscriber's registered mobile number whenever he/she makes a transaction.
  • Savings Bank Silver I account scheme provides with the facility of using an ATM of any bank for transaction without any charges.
  • It makes payment of utility bills and tax payments a much easier task with the likes of internet banking. The subscriber can pay for water bills, electricity bills, school and college fees etc anytime conveniently.
  • The account holder in the NEFT network can make transactions to any bank account through NEFT & RTGS safely.
  • In case of regular salary earners, this scheme provides with overdraft facility where the subscriber can draw more money than the account holds up to one-month salary basis.
  • Savings Bank Silver I account provides its subscribers with anywhere banking solutions from any TBA/CBS branch.
  • The subscriber can be benefitted with Rs 1, 00,000 as a personal accident insurance coverage which will be provided after the death of the subscriber.
  • The account holder can avail benefits of a Family Health Insurance Policy.