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Product Details
Bank Name

Indian Bank

Account Name

IB CORP SB – Payroll package scheme for salaried class

Account Type

Salary

Interest Rate

Up to Rs.10 lakh - 2.75%
More than Rs.10 lakh to less than Rs.200 Cr - 2.80%
Rs. 200 Cr and above - 2.90%

Free Debit Card

Yes

IB CORP SB – Payroll package scheme for salaried class
Account Opening Fees

NIL

Annual Maintenance Fees

​

Minimum Account Balance

NIL

Debit Card Charges

Nil

NEFT Charges

SB customers are waived from charges of NEFT online transactions

IMPS Charges

​

Fees and Charges

IB CORP SB – Payroll package scheme for salaried class

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Special Features
Rs.2 Lakhs-Insurance cover on debit card / Gold Credit card with 2 times of net salary for Government/Public sector employees and one month net salary for other employees. Credit limit Rs.20,000 – Rs.99,999.(Procedure for issuance of credit cards i.e based on scoring model remain same).
Eligibility Criteria
Regular employees of Corporate firms, IT sector, ITES, State and Central Government Departments, Public Sector Undertakings, Semi Government organizations, Urban development authorities, Educational Institutions, MNCs, Hospitals, Hotels, Universities, Transport Corporations, Reputed Public Sector Companies, Hotels and select Private Sector Companies with at least six month service with their organization and whose salary is credited in our branches.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
60 free personalized cheque leaves per annum (includes 20 free offered to all SB accounts) 25% concession in respect of Demand drafts issued to the debit of the Savings Bank account for purpose other than business NEFT & RTGS – Free( If done Online ), Unlimited withdrawal counts with a per day limit of Rs.50,000 Maximum transaction at point of sales (pos)-Rs.1,00,000/-, Free personal accident insurance (death cover)- Rs.2 LAKHS – primary Card holder,Rs1 LAKH – First add on card Concession in processing charges ranging from 25% to 50% for retail loans viz., Home Loan, Vehicle loan, Salary loan, Personal loan etc. 25% concession on first year locker rent. All certifications viz., No due certificate, signature verification, photo attestation, interest certificate, balance confirmation certificate, certificate for dishonoured cheque, details of maintenance of account etc. offered free of cost.
Cons
Very low interest rate
Application Procedure

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Product Review
Account Opening and Procedure
How to open an Account?
Application Procedure
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