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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
Account Opening Fees

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Annual Maintenance Fees

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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/-.

Debit Card Charges

Rupay Platinum Card with AMC free for individuals

NEFT Charges

SB customers are waived from charges of NEFT online transactions

IMPS Charges

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Fees and Charges

Indian Bank SB Platinum

76
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
Pros & Cons
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

The account comes with low interest rate and offers average 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

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