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Old 16th December 2016, 10:27 AM
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Join Date: Mar 2013
Default Re: Indian Overseas Bank SB Account Minimum Balance

Indian Overseas Bank Tamil is a major public sector bank based in Chennai, with about 3700 domestic branches, including 1150 branches in Tamil Nadu, 3 extension counters, and eight branches and offices overseas as of 30 September 2014

About the Saving Account :


Savings Bank account is a form of demand deposit account, opened mainly for the purpose of saving and not for any business purpose, subject to restrictions on the number of withdrawals during any specified period.


Eligibility


Any individuals, Clubs, Associations, Trusts, Joint accounts, Educational Institutions, Non-trading organizations, Government Bodies, Societies (including co-operative societies) are eligible to apply for this account.

Any minors above the age of 10 years is also eligible to hold a Regular Savings Bank Account in his/her own name.


Minimum Balance Account


You need to maintain a minimum balance of Rs. 100/- for non-cheque operated accounts and Rs. 500/- for cheque operated accounts in branches in rural and semi-urban areas.

It is Rs.500 for non-cheque operated account and Rs.1000 for cheque operated account in other branches.


For more Information you may Visit the Nearest branch of the Indian Overseas bank
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