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Product Details
Bank Name
Indian Overseas Bank
Account Name
IOB Corp Salary Account
Account Type
Saving/salaried
Interest Rate
Balance Upto Rs. 25 Lacs-2.75 ,Balance Above Rs. 25 Lacs to Rs. 1 Crore-2.75 and Balance Above Rs. 1 Crore-
2.90
Free Debit Card
Yes
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
Average quarterly Balance Up to Rs. 50,000/-)
Debit Card Charges
100
NEFT Charges
Free
IMPS Charges
Free
Fees and Charges
IOB Corp Salary Account
73.2
Special Features
25% concession in processing charges for Retail Loans: Housing Loan, Vehicle Loan and Educational Loan. (For the 1st Loan) and
50% concession on Demat Account charges - for first year only.
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Free Internet Banking & Mobile Banking,No Cash Handling charges,Free Stop Payment of cheques,Free Passbook,Free RTGS/NEFT facility,Free monthly account statements through emails,FREE Credit Card based with a base limit of Rs. 20,000. (Provided the customer satisfy the Bank requirements and eligibility norms),1 Cheque Book free with 60 leaves (or) FREE Personalised cheque book with 60 leaves,FREE – Rupay Classic Card,Free Standing Instructions,Free SMS alerts on transactions,Free RTGS/NEFT facility,Free Passbook
Cons
Low intreast rate
IOB Corp Salary Account Review
The account comes with a number of value add benefits such as free cheque book, credit card, concession on loan processing fee, etc. However, the card has a very low interest rate.
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
Product Review
Account Opening and Procedure
How to open an Account?
Application Procedure
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