top of page
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
_jfif.jpg)
76
Account Opening Fees
NIL
Debit Card Charges
Nil
Annual Maintenance Fees
NEFT Charges
SB customers are waived from charges of NEFT online transactions
Minimum Account Balance
NIL
IMPS Charges
Fees and Charges of
IB CORP SB – Payroll package scheme for salaried class
IB CORP SB – Payroll package scheme for salaried class
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 of
IB CORP SB – Payroll package scheme for salaried class
Pros & Cons of
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
IB CORP SB – Payroll package scheme for salaried class
IB CORP SB – Payroll package scheme for salaried class
The account comes loaded with a number of value add features. However, the account offers low interest rate. It can be considered by individuals who are looking for a good package of value add features.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Review of
IB CORP SB – Payroll package scheme for salaried class
Account Opening and Procedure of
How to open an Account?
Application Procedure
IB CORP SB – Payroll package scheme for salaried class
bottom of page