Kotak 811 Savings Account Review (Fastest Online Account Opening) Kotak 811 Digital Bank is one. Senior Citizens Savings Scheme 2004 has been introduced by Government of India for the benefit of senior citizens which is operational from through select branches of Indian Overseas Bank. Download eStatement / Deposit / Loan Interest Details Service Type. Select Download Deposit TDS and Interest Details Download Education Loan Interest Certificate Download Housing Loan (SUBHA GRAHA) Interest.
NRE Savings Account is an account which is opened by an NRI (Non Resident Indian) to park his/her overseas earnings remitted to India converted to Indian Rupees. This account is maintained in rupee. It offers the entire standard banking facilities such as issuance of cheque book/ debit card, nomination facility and other remittance facilities. The account holder will receive interest on the money deposited under this account which differs from bank to bank.
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NRE Savings Interest Rates by Banks (as on 06 Mar 2021)
| Bank Name | Min Interest Rates (p.a.) | Min Limit | Max Interest Rates (p.a.) | Max Limit | Calculate |
|---|---|---|---|---|---|
| Allahabad Bank | 4% | Less than Rs 40 Lakhs | 4% | Rs 40 Lakhs & above | |
| Andhra Bank | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| Axis Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
| Bandhan Bank Limited | 4% | Below Rs 1 Lakh | 6% | Rs 1 Lakh & above | |
| Bank Of Baroda | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| Bank Of India | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| Bank Of Maharashtra | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Canara Bank | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| Catholic Syrian Bank Limited | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh to Rs 50 Lakhs | |
| Central Bank Of India | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| City Union Bank Limited | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh | |
| Corporation Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
| Dcb Bank Limited | 4% | Below Rs 1 Crore | 6% | Above Rs 1 Crore to Rs 5 Crores | |
| Dena Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Dhanalakshmi Bank | 4% | Upto Rs 50 Lakhs | 4% | More Than Rs 50 Lakhs | |
| Federal Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above upto Rs 10 Crores | |
| Hdfc Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above but below Rs 500 Crores | |
| Icici Bank Limited | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
| Idbi Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Indian Bank | 4% | Upto Rs 50 Lakhs | 4% | Above Rs 50 Lakhs | |
| Indian Overseas Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Indusind Bank | 4% | Upto Rs 10 Lakhs | 5% | Above Rs 10 Lakhs to Rs 1 Crore | |
| Jammu And Kashmir Bank Limited | 4% | For Any Amount | 4% | Above Rs 10 Lakhs | |
| Karnataka Bank Limited | 3% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh to Rs 50 Lakhs | |
| Karur Vysya Bank | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh | |
| Kotak Mahindra Bank Limited | 5% | Upto Rs 1 Lakh | 6% | Above Rs 1 Lakh to Rs 1 Crore | |
| Laxmi Vilas Bank | 4% | Upto Rs 1 Lakh | 5% | Above Rs 1 Lakh to Rs 5 Lakhs | |
| Oriental Bank Of Commerce | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Punjab And Sind Bank | 4% | Upto Rs 20 Lakhs | 4% | Above Rs 20 Lakhs | |
| Punjab National Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Rbl Bank Limited | 6% | Upto Rs 1 Lakh | 6% | Above Rs 1 Lakh to Rs 10 Lakhs | |
| South Indian Bank | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh to below Rs 5 Crore | |
| State Bank Of Bikaner And Jaipur | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| State Bank Of Hyderabad | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| State Bank Of India | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| State Bank Of Mysore | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| State Bank Of Patiala | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| State Bank Of Travancore | 4% | Upto Rs 1 Crore | 4% | Above Rs 1 Crore | |
| Syndicate Bank | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| Tamilnad Mercantile Bank Limited | 4% | Upto Rs 1 Lakh | 4% | Above Rs 1 Lakh | |
| Uco Bank | 4% | Upto Rs 50 Lakhs | 4% | Over Rs 50 Lakhs | |
| Union Bank Of India | 4% | Upto Rs 25 Lakhs | 4% | Above Rs 25 Lakhs | |
| United Bank Of India | 4% | Upto Rs 50 Lakhs | 4% | More Than Rs 50 Lakhs | |
| Vijaya Bank | 4% | Below Rs 50 Lakhs | 4% | Rs 50 Lakhs & above | |
| Yes Bank | 5% | Below Rs 1 Lakh | 6% | Rs 1 Lakh to Rs 1 Crore |
Iob Fcnr Rates
Key features and Benefits of Non Resident External (NRE) Savings Account
- Maintained in rupee.
- Both the principal as well as the interest can be repatriated.
- Interest is payable usually on a half yearly basis.
- Offers easy liquidity.
- Offers remittance facility.
- Get the cheque book facility.
- Provision for nomination. Nominee can be Resident or Non-resident or PIO(person of Indian Origin)
- Local Rupee Cheques (drawn in India) cannot be deposited in this account.
- Cash in rupees cannot be deposited in this account.
- Money in this account can be transferred from any non-resident (External) Rupee Savings and Fixed / Term Deposit account or Foreign Currency Deposit (FCNR) account.
- No income tax liability.
Open Savings Account in Indian Overseas Bank : IOB(Indian Overseas Bank) is one of the well known banks in India. If you do have an account in Indian Overseas Bank and you are planning to open a new savings account in Indian Overseas Bank, you are are the right place as we will guide you through the complete procedure. In order to proceed, you must be aware about the formalities, eligibility and steps to open a savings account in Indian Overseas Bank. If you know about all these steps, opening a savings bank account in IOB will definitely be a piece of cake for you. Don’t forget to read our article on the procedure to link aadhaar card with Indian Overseas Bank Account.
Contents
- How to Open a Savings Bank Account in Indian Overseas Bank ?
How to Open a Savings Bank Account in Indian Overseas Bank ?
There are things you must know before knowing the complete procedure for opening Indian Overseas Bank Savings Account. Let us first know about the the Eligibility to Open Savings Account in IOB.
Eligibility to Open a Savings Account in Indian Overseas Bank
Iob Savings Account Interest Rate Per Month
Before visiting any IOB Branch to open Indian Overseas Bank Savings Account, you must check whether you are eligible for the same or not. Here are the eligibility for opening Indian Overseas Bank Savings Account :
1) Applicant must be a Citizen of India.
2) Applicant must be more than 18 years of age (Except for Minor Account).
3) Applicant must possess the KYC Documents required to open Savings Account in Indian Overseas Bank. These documents are Address Proof, Identity Proof, PAN Card or Form 60/61.
4) In most cases, the applicant would need a Guarantor who has a Bank Account with IOB.
5) Applicant will need to deposit minimum balance amount needed for the Savings Account(In some types accounts, like Jan Dhan Account this amount is not required).
At any point of time you can also prefer transferring Indian Overseas Bank Account or you can change Indian Overseas Bank Account Address. If you have not been using your Account from long time, it might be dormant and you can easily reactivate Indian Overseas Bank Dormant Account.
Steps to Open a Savings Account in Indian Overseas Bank
Once you know you are eligible to open a Indian Overseas Bank Savings Account, you must follow the below mentioned steps to open a Savings Account in IOB.
1)Gathering the Documents : Your first step should be gathering all the KYC documents required for opening a Bank Account in Indian Overseas Bank. So, do keep Proof of Address, Proof of Identity, PAN Card and at least 2 passport size photographs with you. You may also be asked to show the originals of the same.
2)Filling up Account Opening Form : Once you have all the documents you can visit any IOB Branch, collect the Indian Overseas Bank Savings Account Opening Form and fill it up completely. If you have any issues while filling up the form, you can take help of fellow people in the Bank or IOB Officials.
3)Visit the IOB Account Opening Branch : After you have filled up the Indian Overseas Bank Account Opening Form, do visit the Indian Overseas Bank Branch where you want to open your Savings Account. Do carry your filled up form and the documents mentioned above.
4)Verify your Form & Documents : Meet the Accounts Executive and ask him to verify your documents and form for opening a new Savings Account with Indian Overseas Bank. Upon verification and successful validation of your documents and form, you can go to the next step.
5)Deposit theMinimum Deposit Amount : After verification, move to the cash deposit counter and deposit the minimum deposit amount for your new bank account. In order to do so, please take a Cash Deposit Voucher/Slip and write ‘New Account’ in place where you need to write your Name and fill up the minimum deposit amount in Numbers and Words. Please confirm the Amount from the Cashier or Accounts Executive and deposit the form and cash voucher.
6)Collect Indian Overseas Bank Passbook and ATM/Debit Card : Once you have deposited the minimum deposit amount for your new savings account, you will be handed over your ATM Cum Debit Card and other Bank Documents. If you do not get the documents instantly, you may get them in 1-2 working days. If you need a custom Debit Card with your Full Name on it, you need to apply for it separately.
Note : If you have also applied for other facilities like Cheque Book and/or Net Banking, within few days you will get them at your address registered with Indian Overseas Bank. If you wish to change Mobile Number in Indian Overseas Bank, you can do it anytime.
Iob Savings Account Interest Rate 2019
Best Practices after getting a Savings Bank Account in Indian Overseas Bank
Once you have a Savings Bank Account with Indian Overseas Bank, you must keep a few things in mind :
1) Its always good to memorize your Bank Details including your PINs and Passwords so that you don’t always have to rely on the physical documents every time you need that information.
2) To be on a safer side, note down your Account Number, ATM Card no., PIN etc at a location which is secure enough.
3) Always keep Indian Overseas Bank Customer Care Number stored in your mobile phone’s contact list.
4) Don’t hesitate to contact IOB customer care if you have lost your Indian Overseas Bank ATM card or in case of any other mishap related to your Account. If by any chance your account information or a cheque of your Account has fallen into wrong hands, you must immediately make a call to Indian Overseas Bank Customer Care or visit your IOB Home Branch in order to block a particular service or your Savings Account to prevent any kind of unauthorized use.
Nre Savings Account Interest Rate Iob
Things to Know before you Open a Savings Account in Indian Overseas Bank
Before you plan to open a Savings Account with IOB, you must know a few important things. There are a few queries which you must clarify by visiting any Indian Overseas Bank Branch or Calling Customer Care Number :
- Is there a Minimum Average Balance per month for maintaining this type of Savings Account in Indian Overseas Bank ? If yes, what is it? What types of fees do I have to pay if I go below that limit?
- What is the rate of interest which I will be getting on my Indian Overseas Bank Savings Account? How often is this interest generated ?
- Do I have any limit to the number of transactions every month ?
- Where can I withdraw cash using my ATM/Passbook/Cheques without paying any extra fees ? What is the extra amount charged for using other than Indian Overseas Bank ATM ?
Iob Savings Account Interest Rate For Senior Citizens
Customer Care Numbers of Indian Overseas Bank
Iob Savings Account Interest Rate Today
If you are looking for any kind of help from Indian Overseas Bank Customer Care, feel free to reach them on the Toll Free Number mentioned below.
Toll Free Number : 1800 425 4445