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Product Details

Bank Name

Indian Bank

Account Name

Indian Bank SB Platinum

Account Type

Savings

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

Indian Bank SB Platinum
76

Account Opening Fees

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Debit Card Charges

Rupay Platinum Card with AMC free for individuals

Annual Maintenance Fees

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NEFT Charges

SB customers are waived from charges of NEFT online transactions

Minimum Account Balance

For Individuals:
· A Minimum average Balance of Rs. 25,000/- (total products of 7,50,000 per month i.e. 30 days X Rs.25,000/-) and a threshold minimum of Rs.50,000- for transferring to Term Deposit. (i.e. Sweep would be effected only when the balance exceeds Rs.50,000/-)

For Non-individuals:

· Threshold limit/Minimum Amount: Rs. 10,00,000/- . Sweep shall take place after the cut off level of Rs. 10,00,000/-.

IMPS Charges

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Fees and Charges of

Indian Bank SB Platinum

Indian Bank SB Platinum

Special Features

Eligibility Criteria

High Networth Individuals (HNIs), high income earning Gen- X and Corporate executives and Non Individual – Institutions and Corporates. This facility will be provided to Firms, Companies, Trusts, Institutions etc. who are eligible to maintain SB Accounts

Benefits

Features, Eligibility and Benefits of

Indian Bank SB Platinum

Pros & Cons of

Pros

AUTO SWEEP FEATURES For individuals: Sweep Amount & Reverse Sweep · In multiple amounts of Rs.10,000/- over and above the cut off limit of Rs.50,000/- on Sundays or at the option of the customer. · Reverse Sweep will be on “Last in First out” (LIFO) basis. For Non-individuals: Sweep Amount & Reverse Sweep · In multiple amounts of Rs.100,000/- over and above the cut off limit. Reverse Sweep will be on “Last in First out” (LIFO)basis.

Cons

Very low interest rate

Indian Bank SB Platinum

Indian Bank SB Platinum

The account comes with low interest rate and offers average value add features.

Abhijeet Saxena

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

Indian Bank SB Platinum

Account Opening and Procedure of

How to open an Account?

Application Procedure

Indian Bank SB Platinum

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