Assignment 1 - Banking Operation

Banking Operations
2019-21
Assignment 1: Indian Bank
Submitted To: Submitted By:
Dr. Kalyani Parmal Ravi Jaiswani
(JI/2019-21/0091)
About Indian Bank
Indian Bank is an Indian state-owned financial services company which was established in

the year 1907. It is headquartered in Chennai, India. It serves over 100 million customers
with 20,924 employees, 6,089 branches with 5,022 ATMs and 1,494 cash deposit machines
and is one of the top performing public sector banks in India.
As on 31 March 2019, total business of the bank has touched ₹430,000 crore. Bank's
Information Systems and Security processes certified with ISO27001:2013 standard and is
among very few Banks certified worldwide.
It has overseas branches in Colombo and Singapore including a Foreign Currency Banking
Unit at Colombo and Jaffna. It has 227 Overseas Correspondent banks in 75 countries. Since
1978, the Govt. of India has owned the bank. As per the announcement made by the Nirmala
Sitharaman, Finance Minister of India on 30 Aug’ 2019, Allahabad Bank merged from 1
April 2020, making it the seventh largest bank in the country.
Products of Indian Bank
Indian Bank
Deposit Loan
Products Products
Savings A/C Current A/C Agriculture Personal
Term Deposite NRI A/C MSME

About Deposit Products
1. Savings A/C
a. Savings Bank:
Eligibility
 Individual – Single Accounts

 Two or more individuals – Joint Accounts
 Illiterate persons
 Blind persons
 Associations, Clubs.
 Trusts
 HUF
 Institutions/Agencies/ Societies/Government Departments specially permitted by RBI.
Interest Rates
 3% p.a.
Salient Features
 ECS/RTGS/NEFT facilities are available

 One cheque book of 20 leaves free in a calendar year for cheque operated SB
accounts. Personalised cheques offered.
 Collection of local cheques free
 Collection of Outstation cheques with the prescribed charges
 No charges for Intra city transactions except cash deposit and cash withdrawal
charges at host branches for transactions above Rs.50000/-
 ATM cards/Debit cards provided free of cost for the first year.
 24 hrs ATM facility with sharing arrangement with various banks for sharing their
ATMs
 3 transactions Free at ATMs of other Bank in Metro and 5 transactions Free at ATMs
of other Bank in Non Metro Areas.
 Intra city, intercity transactions, Internet/ mobile /phone banking facilities are
available at all branches
 Nomination facilities available.
 50 withdrawals permitted free per half year excluding debit entries related to ATM /
IRCTC transactions /POS / Internet, Mobile transactions and Rs.15/- will be charged
per transaction over and above the free withdrawals.
 No TDS on interest earned on SB deposits
Periodicity Of Provision Of Interest
 Interest credited quarterly in the months of June, September, December & March on
daily product basis.
Minimum Amount
 Minimum amount- Rs.500/- for non-cheque operation and Rs.1000 for cheque
operation for Rural/ Semi urban branches
 Minimum balance of Rs.1000/- for non-cheque operation and Rs.2500/- for cheque
operation for Metro / Urban branches
 Nil balance for pensioners and bona fide students receiving scholarship.
b. IB Corp SB : Payroll Package scheme for salaried class
Eligibility
Regular employees of Corporate firms, IT sector, Information Technology Enabled Services,

State and Central Government Departments, Public Sector Undertakings, Semi Government
organizations, Urban development authorities, Educational Institutions, MNCs, Hospitals,
Hotels, Universities, Transport Corporations, reputed Public Sector Companies and select
Private Sector Companies whose salary are credited in our branches.
Interest Rates
 3% p.a.
Value Added
 25% concession in respect of Demand drafts issued to the debit of the Savings Bank
account for other than business purpose Preference in allotment of lockers with 25%
concession for the first year .Free Personal accident insurance cover of Rs.2.00 lakhs
under Rupay Platinum card.
 Free Personal accident insurance cover of Rs.2.00 lakhs and Air accident cover of
Rs.5.00 lakhs under Credit Card
 All certifications viz., No due certificate, signature verification, photo attestation,
interest certificate, balance confirmation certificate, certificate for dishonoured
cheque, details of maintenance of account etc. offered free of cost.
 Free mobile alerts on transactions
 Facility of takeover of existing loan account from other Banks without any charges
 Free payment of LIC premium/Mobile recharge/EB payment/BSNL bill payment and
access to all types of utility bill pay facilities through standing instructions, Internet
banking and Mobile banking facility.
 Demat facility, 3 in 1 Trading account available .Concession in Demat accounts
Salient Features
 Pre opened Welcome Kit.

 60 free personalized cheque leaves
 Free Internet Banking and Mobile Banking (Ind Pay).
 Free Rupay platinum card with personal accident insurance cover of Rs.2.00 lakhs
with no Annual maintenance charges. Maximum cash withdrawal of Rs.50000 at
ATMs and Rs.1.00 lakh at Point of sales terminals per day.
 5 financial and 2 non-financial transactions at other bank ATMs as against a total of 3
transactions at Metro centres and 5 transactions at other centres (inclusive of non-
financial transactions), free of cost.
 2 NEFT & RTGS transactions offered free per month.
 Overdraft to the extent of 80% of net salary with a minimum amount of Rs.10,000/-
and maximum amount of Rs.2,00,000/-
 Period of OD is for 6 months on reducing Drawing Limit method and interest to be

serviced as and when charged/ debited. First Overdraft after 3 months of satisfactory
operations.
 Concession in processing charges ranging from 25% to 50% for retail loans viz.,
Home Loan, Vehicle loan, Salary loan, Personal loan etc. Gold Credit card with 2
times of net salary for Government/Public sector employees and one month net salary
for other employees as limit.
Periodicity Of Provision Of Interest
 Interest credited quarterly in the months of June, September, December & March on
daily product basis
Non – Maintenance Of Minimum Balance
 No charges for non-maintenance of minimum balance
Interest on Overdraft Facility
 5%
Minimum Amount
 Zero balance with no charges for non-maintenance of minimum balance
Maximum Amount
 No Limit
c. Basic Savings Bank Deposit Account
Salient Features
A Savings Bank Account meant for people who have been hitherto deprived of banking
facility
Minimum Amount
 No initial / minimum balance required
Other Requirements/Details
 Scheme for the financial inclusion of persons hitherto deprived of banking facilities
 ATM cum Debit card will be issued
 One demand draft / BPO free of commission for issue to third parties.
 The account holder can avail other value added facilities provided he fulfills full KYC
norms
 4 debit transactions per month including ATM withdrawals allowed free of charges.
No charges for credit transactions
 No charges for Intra city/intercity transaction.
 Nomination facility available
d. IB Smart Kid
Target Customers
For children of age 1 day to less than 18 years. Single only for minor – by Father/Mother and
guardian
OR
In the case of court appointed guardian – by guardian
NO JOINT ACCOUNT CAN BE OPENED UNDER THIS SCHEME
KYC Requirement
 As applicable to Normal Savings Bank account
Nature of Operation
 With/Without Cheque facility
Average Monthly Minimum Balance
 Rs.100/- average monthly balance for non-cheque book operated savings bank
accounts
 Rs.250/- average monthly balance for cheque operated savings bank accounts
Charges for Non-Maintenance of Minimum Balance
 Charges based on the amount of short fall in average monthly balance. Refer latest
service charges notification
Cheque Book
 20 leaves free per calendar year
DD
 Remittance by DD of school/college fees at par. Others chargeable
ATM Debit Card
 ATM/Debit card eligible for minors of age10 years or more to those who maintain the
prescribed minimum balance and subject to consent by parents / guardian for issue of
ATM debit card.
Conversion of Account into Normal SB
 After the child attains majority (18 years of age), the account can be converted to
regular SB deposit.
 Any cheques issued by Guardian prior to the date of the Customer attaining majority
and which has been presented for clearing after the conversion of the Account shall
not be honoured.
 Upon the Customer attaining majority, the Guardian shall not be permitted to operate
the Account
Internet Banking
It can be provided with the approval of the guardian. The Guardian is solely and exclusively
bound by the terms and conditions for issue of the login password and the transaction
password to the minor/ the Guardian/Parent as applicable and the Guardian /Parent further
agrees, confirms and undertake that he is solely and exclusively liable and responsible for all
charges/expenses/other monies incurred/due and payable on the Internet and debited by the
Bank from the Account
Nomination
 Available
Service Charges
 As per latest service charges notification
e. SB Platinum : Savings Bank Platinum Account with Sweep Facility
Target Customers
 High Net worth 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
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/-
For Individuals:
If the average monthly minimum balance in the Savings Bank Account falls below
Rs.25,000/-, i.e. if the total products are less than 7,50,000 in a month, a penalty of Rs.120/-
per month inclusive of Service Tax will be levied.
If the average minimum balance in the Current Account falls below Rs.1,00,000/-, i.e. if the
total products are less than 90,00,000 in a quarter, a penalty of Rs.120/- per month inclusive
of Service Tax will be levied.
Cheque Book
 20 leaves free per calendar year
RTGS/NEFT
 For Individuals & Non-Individuals: Online NEFT/RTGS free.
SMS Alert
 Individual: Charges applicable
 Non-individual: Free
Net/Mobile Banking
 Free
ATM Debit Card
 RuPay Platinum Card with AMC free for individuals and no card for entities.
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.
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.
Other Features of Sweep
 Should be unencumbered
 Frequency is on Sunday or at the option of the customer
Service Charges
Nomination
 Facility available
f. IB : Sammaan
Monthly Average Balance
 NIL
Type of customers
 Resident Individuals aged over 60 years
Mode of operation
 Either singly or jointly; however, the first account holder must be a senior citizen
Cash withdrawal at Non-home branches
 Enhanced cash withdrawal facility without charges from non-home branches up

to R75,000/- per day as against the present limit of R50,000/-
Excess Debit Charges
 60 transactions free per half year excluding online transactions as against the present
limit of 50 per half year.
Account Closure Charges
 Nil
Cheques
 50 leaves free per annum (additional 30 leaves besides 20 offered free to all)
Passbook
 Exclusive colour of Pass Book for ease of identification
DD
 25% concession on the normal charges prescribed for DD
RTGS/NEFT Outward
 25% concession on normal charges through branch and free when done online
SMS Alert Charges
 Free
Debit & Credit Card
 Senior citizen photo debit card with year of birth
Concession in Locker rent
 25% on the rent of small lockers
Minimum Balance Charges
 Nil
Statement of Account
 Already one per month is being sent through mail @ free of cost
Signature Verification/Photo Attestation/All Certifications
 Free
Privileges Services
1. SMS alerts for submitting 15H at the quarter beginning and when a new Term Deposit
is opened.
2. Preferential treatment at the bank (No Token System i.e. every alternate person would
be Senior Citizen in all the SWO / Chief Cashier Counters)
Concession in Interest Rates on retail loans
 0.50 % on Pension Loans

 0.05 5 in car loans
 Preapproved personal loans and home loan to pensioners
Door Step Banking
 Door step banking – Cash / Cheque pickup and cash / demand draft delivery,
Collection of TDS – Exemption Certificate (15H) with the use of Business
Correspondent.
 Free for age above 80 years depending upon the need and call.
 At a nominal charge for other Senior Citizen aged > 60 years upto 80 years
g. IB Mahila Shakti for Women
Target Customers
 Women customers with no salary is being credited/ Women with salary credit.
 Women customers – exclusively or as the first account holder 18 years & above.
 All accounts must be Aadhaar seeded.
Variants
Variant I
Accounts where no salary is credited.
 Sweep option with threshold (minimum Rs. 50,000), sweep/ break sweep amount
(minimum Rs.10,000) & tenure (upto 180 days) as per customer’s choice. Sweep will
be created at weekly interval.
Variant II
Accounts where salary is credited.
 Sweep option with threshold (minimum Rs. 50,000), sweep/break sweep amount
(minimum Rs.10,000) & tenure (upto 180 days) as per customer’s choice. Sweep will
be created at weekly interval.
Nature of Operation
Primary account holder:
 Any girl/ woman (student /working/ homemaker/ professional).

 Age 18 years and above.
 Exclusively or as the first account holder
 Rs. 1000
Value Added

 25% concession in respect of Demand drafts issued to the debit of the Savings Bank
account for purpose other than business.
 Rupay platinum card with AMC free
 25% discount on locker rental on lockers of all sizes for locker allotment linked to
IB Mahila Shakti SB account
 Concession in interest on retail loans and processing charges *
 Overdraft facility available *
 On select products only & Terms and Conditions apply
h. IB Kishore : Savings Bank Account for Minors
Target Customers
Accounts introduced for Minors who have attained the age of 10 years upto 18 years and can
put their signature.
 The account should be fully KYC compliant.

 PAN/ Form-60 to be obtained
Nature of Operation
 No joint account will be allowed under the scheme
Initial Deposit
 Rs. 500
 NIL
Maximum Balance Capped At
 Rs. 200000
Conversion of Account
 A provision will be made for conversion to GenX Saving Account on attainment of 18

years of age on submission of upto date KYC documents
Cheque Book
 No cheque book facility at present.
Net/Mobile Banking
 Would be provided with maximum transaction limit of Rs.10,000/- per day
ATM/Debit Card
 RuPay Classic ATM Card only with 1st year AMC free.
Maximum Withdrawal at Our Bank
 Unlimited counts with a per day limit of Rs.10,000
Maximum Withdrawal at Other Bank ATM
 Rs.10000/- with 3 withdrawals free in Metro ATMs & 5 withdrawals if in Non-Metro

including non-financial transactions
Maximum Transactions at Point of Sales (POS)
 Not Available
Concessions in Interest Rate on Retail Product Loans
 Available on Select Products.
 Terms and Conditions apply
i. IB Gen X for the Vibrant Youth
Target Customers
 Resident individual
 Primary account holder: age group between 18 years to 40 years.
 Single or joint
Nature of Operation
 Singly, Jointly, Any one, E or S, Former or survivor
Initial Deposit and Average Monthly Balance
 Rs. 1000/-
NEFT/RTGS/IMPS
 Free
Trading/ Demat Account
 Free Demat account for first year
Concessions in Interest Rate on Retail Product Loans
 Available on select products

 Terms and Conditions apply.
Exclusive Privileges
 Optional Health Insurance available at concessional rate
 Terms and conditions applies
Service Charges
All other service charges are as per the service charges notification.
j. IB Salaam : Special Account for defence personnel
Target Customers
 Personnel-Public Defence service

 Resident Individual.
 Minimum 18 years of age.
 Serving permanent employee of all defence personnel(Army, Navy, Air force)
including BSF, CRPF, CISF, ITBP, Indian Coast Guard and Para Military Personnel.
Nature of Operation
 Singly, Jointly, Any one, E or S, Former or survivor
Initial Deposit
 NIL
 Nil
 Nil
NEFT/RTGS/IMPS
 Free
NET/Mobile Banking
 Free
Trading / Demat Account
 Free Demat Account for First Year
Preferential Allotment of Locker
 Yes
Rent on Locker
 25 % discount on locker rental on lockers of all sizes for locker allotment linked to
Salaam Savings Bank Account
Concessions in Interest Rate on retail Product Loans
 Available on select products

 Terms and Conditions apply.
 The first name should be of IB Salaam Savings Bank account
Exclusive Privileges
 Optional Health Insurance available at concessional rate

 Terms and conditions applies
Service Charges
All other service charges are as per the service charges notification.
k. Savings Bank Account for pensioners
Target Customers
 State/Central/EPF Pensioners
KYC Requirement
 As applicable to normal Savings Bank Account
Nature of Operation
 With Cheque Facility
 NIL
 NIL
Cheque Book
 20 free personalized leaves as per calendar year
RTGS/NEFT
 NEFT/RTGS : If done Online Free

SMS Alert
 No charges for Mandatory SMS
NET/Mobile Banking
 Facility Available
Additional Concessions Offered
 No Account Closure Charges
Service Charges
l. IB Digi : Online SB Account
Target Customers
The facility will be made available for “Resident Individual” customer only over 18 years of
age.
 NRE/NRO/FCNR accounts cannot be opened with this facility.
 No joint account, non-personal, Minor a/c etc. will be permitted under this mode.
 To use this facility, the mobile handset should be any Smart phone with Android
Operating system and also through website.
 Customer must be having a valid Aadhaar number and valid Permanent Account
Number. Customer must be having a valid and active local mobile number registered
in his/her name, and a valid and active email address.
 At any given point of time, Customer can have only one on line (DIGI)Savings
Account. Only one Savings Account can be opened from one Mobile
Phone/Device/Website.
KYC Requirement
 Customer must be having a valid Aadhaar number and valid Permanent Account
Number
Type of Account
 Savings Bank DIGI
Nature of Operation
 No cheque Book will be provided
Conversion of the Account
 Application can be submitted to the branch for completing e-KYC by the customer
within 1 year of opening for conversion into Savings bank account type of his choice,
beyond which timeline it would be frozen for further operations.
Restriction in Transaction in the Branch

The credit balance in the account shall not exceed Rs.1 lakh on any day. In case, the balance
exceeds the threshold, the account shall cease to be operational, till biometric based e-KYC is
completed.
 The aggregate of all credits in a financial year shall not exceed Rs. 2 lakh.
 The account can be operated for a period of one year within which the customer must
visit the branch with Original and Copy of Aadhaar Card and PAN Card and complete
e-KYC formalities.
ATM Card
 Special Rupay Classic card with lesser withdrawal/POS limit would be issued free of
cost at the time of opening the DIGI account.
Maximum Withdrawal at our Bank
 Rs. 10000 per day unlimited times
Maximum Withdrawal at other bank ATM’s
 Rs. 10000 per day. Presently 3 withdrawals are free in Metro ATMs & 5 withdrawals
if in Non Metro including non-financial.
Maximum Withdrawal at POS
 Rs. 10000
Nomination
 Online Nomination Available
Closure of Account
 Application can be submitted to the branch for completing e-KYC by the customer
within 1 year of opening for conversion into Savings bank account type of his choice,
beyond which timeline it would be frozen for further operations and would be closed
2. Current A/C
A. Current A/C
Salient Features
 Ordinary Current Account
Minimum Amount
 The Quarterly average balance (QAB) prescribed for an Ordinary Current account is
as follows: For Metro/Urban – Rs.5000/- For SU/Rural – Rs.2500/-
Other Requirement/ Details

 Suitable for all type of customers
 ECS/RTGS/NEFT facilities are available
 Nomination facility for individuals and sole proprietor concerns,
 Multicity cheque facility, Intra city, intercity transactions are permitted
in CBS branches
 Free ATM card cum Debit card
 No charges for Intra city transactions
B. IB I-Freedom Current A/C
 Presenting Indian Bank’s New Current Account Product “IB- I Freedom” – “Smart
Account for Smart People” where you have “your own way” in choosing a product
variant which meets your specific business needs.
 The product has been designed keeping in mind your diverse business needs
and provides you the flexibility to hand pick host of services of your choice and
convenience.
 Each product has different average monthly balance ranging from Rs.50,000 to
Rs 5,00,000 and offers a host of privileges carefully chosen keeping in mind your
business model.
C. Premium Current Account
Salient Features
 A current account with an option to convert excess fund in the account to Term
Deposit every Sunday i.e. Short Term Deposit (up to 180 days)
Minimum Balance Required
 Minimum Quarterly average balance Rs.1 lakh (Total products of Rs.90,00,000 per

quarter i.e. 90 days X Rs.1,00,000/-)
 Threshold limit Rs.2,00,000/- (i.e. Sweep would be effected only when the balance
exceeds Rs.2,00,000/-)
 Cut off balance for transferring to MOD A/c (Threshold balance) will be Rs.2,00,000
or more, at the option of the depositor.
Period of Term deposit
 Minimum 15 days to 180 days
Value Added
 Push Sweep – The amounts lying in the Account over the threshold balance, will be
transferred to Short Term Deposit STD (Multi option Deposit –
MOD) automatically in multiples of Rs.25,000/-
 Interest will be paid at the time of maturity / closure
 Suitable for Corporates, Traders, Businessmen, Entrepreneurs and HNI’s
 Customer can issue cheques freely up to the balance in the MOD
 Frequency of transfer to MOD – Sweep as per customers choice of tenor in
multiples of Rs.25000(Period – Minimum 15 days, Maximum 180 days)
 6 DDs at par up to a maximum of Rs.3 lakhs per quarter each not exceeding
Rs.50000/- and no charges for stop payment and signature attestation
 No charges for Intra / Intercity transactions
 ATM / Debit card One year from the date of first use – FREE
 Non maintenance of minimum balance – If the average minimum balance in the
Current Account falls below Rs.1,00,000/-, i.e. if the total products are less than
90,00,000 in a quarter, a penalty of Rs.573/- per quarter inclusive of Service Tax will
be levied.
 Pull Sweep – When a cheque is received for payment or an ATM withdrawal
transaction is initiated and the balance in the Current Account is not sufficient, then
on Last In First Out (LIFO) basis, the latest MOD (STD) will be prematurely closed
and transferred automatically to the Current Account to meet the payment. The PULL
Sweep will be in multiples of Rs.25,000/- only and the customer has no option to
change the same.
 Foreclosure charges applicable on premature closure of deposit accounts during
sweep in.
 Moreover, the funds to be transferred as a pull sweep to the Current Account will also
meet the requirement of maintaining the required minimum balance.
D. IB Comfort – Domestic and NRE
Target Customers
 Individuals – To cater to the needs of individuals who would like to maintain accounts
without any interest component
KYC Requirement
 As applicable to Current Account
Nature of Operation
 Either Singly or Jointly
Variants Comfort Domestic Comfort NRE

Average Monthly Minimum Rs. 25000 Rs. 50000
Balance
Charges for Non Rs. 250 per Month Rs. 500 per Month
maintenance of Minimum
Balance
Cheque Book 100 leaves free per month 200 leaves free per month
DD/SMS Alert As applicable for normal As applicable for normal
current account current account
RTGS/NEFT Free Free
SMS Alert As applicable for normal As applicable for normal
current account current account
NET/Mobile Banking Free Free
Cash Deposit in Home As applicable for normal Not Applicable
Branch current account
Cash Deposit in non-Home As applicable for normal Not Applicable
Branch current account
Cash Withdrawal in Non- As applicable for normal Not Applicable
Home Branch current account
Account Keeping Charges 1 page free (1*40 3 pages free (3*40
transactions) excluding transactions) excluding
online transactions per online transactions per
quarter, charged half yearly. quarter, charged half yearly.
For excess consumption For excess consumption
over free entitlement, please over free entitlement, please
refer service charges refer service charges
notification notification
Debit Card Available Available

Exclusive Privileges Free Accident Insurance FX Margin on Inward /
(PMSBY) Outward Remittances –
Rs.0.02 per transaction
Service Charges All other service charges as All other service charges as
per service charges per service charges
notification. notification.
E. CA for State/Central Government and Consular
Target customers Central/State Government Departments &

Consular Offices.
Quarterly Average Balance NIL
Non-Maintenance of QAB NIL
Corporate Internet Banking Available
Cheque leaves Charges NIL
Overdraft facility NA
Cash Deposit Charges NIL
Cash Deposit in Non-home branches Charges NIL
Cash withdrawal Charges NIL
NEFT/RTGS Charges NIL
Cash pick up facility NA
SMS Alerts Charges NIL
Account keeping charges Charges NIL
Auto Sweep NA
Complimentary Sevices NIL
Exclusive privileges Instant credit of all outstation cheques up to
Rs.25000/-
Other service charges (with details) All other service charges NIL
3. Term Deposit
A. Capital Gains
Interest Application
Method and Periodicity of calculation of interest is same as that of ordinary SB account /

Term deposit accounts
Salient Features
Under this Scheme the tax payers can avail of the benefit of exemption from capital gains
only if the amount of capital gains or the net consideration is deposited in Public Sector
Banks on or before their due date of filing a return of income in accordance with the scheme.
Minimum Amount
 Minimum amount is Rs. 1000/-

 Accounts offered in two types
 Deposit a/c A & Deposit a/c B
 Deposit A in the form of Savings Bank and Deposit B in the form of Term deposit (as
cumulative or non-cumulative)
Minimum Period
 Minimum 7 days
 Maximum – 3 years
Other Requirement/Details
 All branches except rural branches are authorized to accept deposits under the
scheme. Tax payers can avail the benefit of exemption under Section 54 (B,D,F & G
as the case may be) of Income Tax Act 1961. Nomination facility is available.
Withdrawal is permitted as per rules. Interest Payments are subject to TDS.
 No additional rate provided for staff / senior citizens.
B. Terms and Conditions Term Deposit Account
Term Deposit
Means a deposit received by the Bank for a fixed period withdrawable only after the expiry of
the said fixed period and include deposits such as Recurring Deposits/ Short Term Deposits /
Fixed Deposits / Money multiplier deposit etc.
Account Opening
Term Deposit accounts can be opened by an individual in his own name or by more than one
individual in their own names. A depositor desirous of opening an account with the Bank
should complete the relative account opening form/card in all respects with full name(s) and
specimen signature(s) at appropriate places. The prospective account holder should normally
be required to fill in the account opening form in the presence of a bank’s official.
C. Recurring Deposit
 Quarterly compounding
Salient Features
 A regular monthly savings grow into a large sum to meet the financial needs at the
end of the agreed period
Minimum Amount
 Monthly instalment Rs.100 and in multiples thereof
Minimum Period
 Minimum 6 months
 In multiples of 3 months with a maximum of normally 10 years
 Loan, Foreclosure, Nomination facilities are available. TDS applicable

 Senior Citizens are eligible for additional rate of 0.50% p.a for an aggregate amount
up to Rs.10 crore.
 However, no single deposit to be opened in a day for more than Rs 2 Cr within the
overall limit of Rs 10 Cr tagged to a single CIF.
 The above ceiling is applicable to all types of term deposits standing in the name of
the Senior Citizen as the principal account holder at one or more branches put
together.
 Penalty on foreclosure of term deposit.
D. IB Tax Saver Scheme
 Quarterly even on monthly basis with a discount or on maturity
Salient Features
 In order to cater to the needs of depositors who wants to avail tax benefit under
section 80C of Income Tax Act, this scheme is launched.
Minimum Amount
 Minimum amount Rs.1000 or in multiples of Rs.100 and Maximum amount

Rs.150000
Minimum Period
 Minimum 5 years
 Maximum 10 years Individuals/HUF having PAN Card can invest upto Rs.1,50,000/-
in a financial year
 Specially designed scheme to avail tax rebate under section 80C of income Tax Act
 Available under FD/MMD schemes.
 No loan / foreclosure allowed upto 5 years
 Senior Citizens are eligible for additional rate of 0.50% p.a.
 Senior Citizens eligible for additional rate of 0.50% p.a for an aggregate amount up
to Rs.10 crore. The above ceiling is applicable to all types of term deposits standing
in the name of the Senior Citizen as the principal account holder at one or more
branches put together.
 Nomination facility available.
E. Money Multiplier Deposit
 Quarterly Compounding
Minimum Amount
 Minimum amount – Rs.1000/- and in multiples of Rs.100/-

 No maximum amount
Minimum Period
 Minimum- 6 months.
 Maximum normally- 10 years
Other Requirements/ Details
 Automatic renewal facility for equal period.

 Loan/nomination/pre closure facility available.
 Penalty on foreclosure of Deposit is applicable.
 Senior Citizens eligible for additional rate of 0.50% p.a for an aggregate amount up to
Rs.10 crore.
 However, no Single deposit to be opened in a day for more than Rs 2 Cr within the
together.
F. Fixed Deposit
 Quarterly or monthly basis with a discount
Salient Features
 A time deposit for a fixed period to earn interest with easy liquidity
Minimum Amount
 Minimum Deposit- Rs.1000/-
Maximum Amount
 No Maximum Amount
Minimum Period
 Minimum 7 days, Maximum 10 years

up to Rs.10 crore.
together.
 Automatic renewal facility for equal period

 Loan / nomination /pre closure facilities available.
G. Variable Recurring Deposit
 Quarterly compounding
Salient Features
 A recurring deposit scheme with the option of varying the monthly instalments is
called the Variable Recurring deposit scheme
Minimum Amount
 Initial deposit Rs.500 or in multiples of Rs.100 upto a maximum of Rs. 1 lakh

 Can vary subsequent monthly instalment subject to a maximum of Rs. 10 lakhs per
month.
Minimum Period
 Minimum period – 36 months and the maximum period – 36 months
 Loan, nomination and foreclosure facilities.

 No penal interest on delayed payment of instalments
 Interest will be paid on the minimum balance between 10th and last day of the month.
TDS applicable.
up to Rs. 10 crore. The above ceiling is applicable to all types of term deposits
standing in the name of the Senior Citizen as the principal account holder at one or
more branches put together.
 Penalty on Foreclosure of Term Deposit.
H. Short Term Deposit
Scheme
 Term deposits repayable after an agreed period fixed at the time of deposit with
interest payment on maturity of the deposit along with the principal.
Target Customers
 A person in his/her own name

 Minor(s) represented by his/her/their guardian
 Two persons with one of the following clauses
 A. Jointly B. Either or Survivor & C. Former or Survivor
 More than two persons repayable either (a) jointly or (ii) to anyone or the survivor(s)
of them
 A firm, a company or an association in its name
Amount
 Minimum Deposit – Rs.1000/- and multiples of Rs.100/-

 No maximum amount.
Mode of Interest Payment
 Interest payable is renewed with principal on maturity
Tenor Offered
 Minimum: 7 Days
 Maximum: 180 Days
Interest Pay Out Frequency
 Interest would be paid along with principal on maturity subject to TDS.
Additional Benefits for Senior Citizens
 Additional interest of 0.50% p.a payable
Monetary Limit For Additional Interest For Senior Citizen
 For amounts up to Rs.10 cr.
Additional Benefits for Staff

Monetary Limit for Additional For Staff
 For amounts up to Rs.2 cr.
Additional Benefits for Ex-Staff Senior Citizen
Monetary Limit for Additional Interest For Ex-Staff Senior Citizen
 For amounts Up to Rs.10 cr.

 However, no Single deposit to be opened in a day for more than Rs 2 Cr within the
Nomination Facility
 Available
Roll Over Features
 Available Automatic renewal facility for period of original deposit after 10 years
account to be closed and opened afresh
Pre closure Facility
 Available
 As per existing penalty structure.

Loan Against Deposit
 Available as per terms and conditions
Any other Information Relevant To The Product
 Additional rate would be offered on all deposits of 7 days to 10 years except for
deposits under Capital Gain Scheme 1988 & NRE.
 However, in the case of term deposits standing in the name of an HUF, the Karta of
the HUF is not eligible for higher rate of interest, even if he is a senior citizen, as the
beneficial owner of the deposit is the HUF and not the Karta in his individual capacity
I. Motor Accident Claim Tribunal Deposit (MACAD) Scheme
Scheme
Two new products have been created on the lines offered by other banks and as suggested by
the court viz., Motor Accident Claims Annuity Deposit (MACAD) with facility of EMI
(Equated Monthly Instalments) & PED (Principal Equally Distributed along with monthly
interest). As decided by the court and option exercised by the customer, the appropriate
product can be chosen. Additionally, specific Savings Bank product viz., MACT SB for
crediting the monthly annuity from MACAD has also been created.
Target Customers
 Individuals including Minors through guardian in a single name.
Amount
 Minimum – Based on minimum monthly annuity of Rs.1000/- for the relevant period
 Maximum – No limit
TDS
 Applicable
Tenor Offered
 Minimum: 3 years
 Maximum: 18 years (as per the directions of the tribunal / court)
Interest Pay Out Frequency
 The annuity amount on a monthly basis net of TDS, will be credited to the MACT
Savings Bank account
Nomination Facility
 Available
Roll Over Features
 Rollover not applicable as it is an annuity product.
 Available based on orders from Court
 Not Applicable
Loan Against Deposit
 No Loan or advance shall be allowed against the Annuity Deposit
Any Other Information Relevant to the topic
 No receipt will be issued to depositors and instead passbook /statement will be issued
 Annuity payment/ Premature closure payment / Part lump sum payment will be made
through the linked MACT claims SB account only.
 Interest amount calculation is rounded off to the nearest rupee value. Due to this, and
application of TDS, there can be variation in the last annuity instalment.
4. NRI A/C’s
A. Resident Foreign Currency Account for Returning Indians
Eligibility
 Account can be opened by returning Indians i.e. those Indians who were non-residents
earlier, and are returning now for permanent stay.
Salient Features
 Account held in foreign currency.

 RFC deposits are accepted in USD, GBP, SGD, Euro, Australian Dollar, Canadian
Dollar, JPY and CHF.
 Account can be opened by transfer of NRE/FCNR funds or by remitting foreign
currency notes or travelers cheques.
 Foreign currency assets held outside India and brought to India at the time of
returning for permanent stay can be credited to RFC account.
 Foreign currency received as pension or any other superannuation or other monetary
benefits from the employer outside India can be credited to RFC account.
 Foreign currency received or acquired when a person was resident outside India as
gift or inheritance from a person resident outside India can be credited to RFC
account.
B. NRI FD/RIP/RD Accounts
Eligibility
 Accounts can be opened by remittances from abroad, deposit of foreign exchange

brought into India , transfer from existing self NRE/FCNR accounts.
 Accounts can be opened jointly with any other Non-Resident Indian / Residents who
are close relatives (as defined in Section 6 of the Companies Act 1956) of the NRI.
 Joint account with resident close relatives is permitted only under Former (NRI) or
Survivor (resident) basis.
 Non-Resident Indians can appoint residents to operate their NRE accounts for local
payments through a power of attorney.
Benefits
 The maturity proceeds of deposits as well as interest earned are freely repatriable.
 Loan is available against the deposit as per extant RBI guidelines from time to time.
Currently loans are available to the extent of Balance available subject to margin
 requirements . The facility of premature withdrawal shall not be available where loan
against such deposits are to be availed of.
 Subsequent to de regulation measure announced by RBI, interest rates offered by our
Bank on NRE term deposits have been upwardly revised and they are highly
competitive in the industry.
 Nomination facility is available. – Nominee can either be a resident in India or a
resident outside India .
Salient Features
 Deposit schemes for NRIs Maintained in Indian Rupees
Minimum Period
 1 Year
Maximum Period
 10 Years
C. NRE SB Accounts
Eligibility

 Accounts can be opened jointly with any other Non-Resident Indian / Residents who
are close relatives (as defined in Section 6 of the Companies Act 1956) of the NRI.
 Joint account with resident close relatives is permitted only under Former (NRI) or
Survivor (resident) basis.
 Non-Resident Indians can appoint residents to operate their NRE accounts for local
Benefits
 Withdrawals for local payments or payments abroad in any convertible currency are
allowed as per the extant RBI guidelines.
 Standing instructions can be undertaken for periodic payments of insurance premia,
school fees, etc.
 Funds from these accounts are freely repatriable.
 Nomination facility is available. – Nominee can either be a resident in India or a
resident outside India .
Tax Benefits
 Interest on the deposit is free of Indian Income Tax.

 Use of NRE accounts is obligatory for channelising funds for all repatriable
investments in India (including investments in shares and securities).
Salient Features
 Deposit scheme where balance are maintained in Indian Rupees.
D. Non-Resident Ordinary Account
Benefits
 Standing instructions can be undertaken for periodic payments of insurance premia,

school fees, etc.
 Loans are permitted against the security of NRO term deposits as per the prevailing
RBI guidelines.
 Nomination facility is available.
 Interest on the deposit is taxable under Indian Income Tax
 Funds held in these accounts by NRIs can be repatriated up to USD 1 million after
payment of applicable taxes, as per the extant RBI guidelines
 Transfer to NRE account is permitted up to USD 1.00 mio per Financial Year within
the overall ceiling of USD 1.00 mio after payment of applicable taxes and production
of CA certificate
Type of Account
 Account can be opened in the form of current, savings, recurring and term deposits
Salient Features

 Accounts can be opened jointly with resident Indian / NRI.
 Non-Resident Indians can appoint residents to operate their NRO accounts for local
 Withdrawals for local payments allowed as per the prevailing RBI guidelines.
 Account can be opened only in Indian rupees
About Loan Products
1. Agriculture
A. Agricultural Godowns / Cold Storage
Purpose/Objective
 For construction of new Agri Godowns or cold storages, market yards, silos /
expansion of existing units / modernization of existing units, irrespective of their
location.
Eligibility
 Individuals, Group of Individuals

 Association of persons, Cooperatives, firms, companies etc.,
Types of Facility Available
 Term loan
 Cash Credit
Amount of Loan
 Term loan : Based on the Project Cost
 Working Capital: Cash budget method to assess the WC irrespective of limits.
Margin
 Term Loan : 25% ( Minimum )

 Working Capital : 30 % (Minimum)
Repayment
 Term Loan: Upto 9 years including maximum holiday period of 2 years.
Security
 Mortgage of land & building of the Cold Storage constructed.

 Hypothecation of assets created out of Bank Finance (Stock of Cold Storage Owner).
 Assignment of receivables/ book debt arising out of advances to farmers for storage of
agricultural commodities.
 Wherever, WC limit is sanctioned for the purpose of on-lending to farmers, collateral
security value equivalent to 100% loan amount to be obtained.
 Collateral security in the form of FD, NSC, LIC Policies, Equitable Mortgage of
immovable properties as per credit rating of borrower
 Minimum Security Coverage Ratio of 1.20 should be maintained at all times.
 Guarantee: Personal guarantee of partners/directors
B. Financing Agriculturalists for Purchase of Tractors and Other Farm Machinery
Purpose/Objective
 For mechanizing the farming activities to improve agricultural production /
productivity.
 To purchase tractors with minimum three implements including trailer.
 For purchase of Power Tiller.
 For Purchase of pre used tractors.
Eligibility
 Minimum 4 acres of irrigated land (or) 8 acres of unirrigated land (dry land).
 Land holding in the name of family members who are blood related and execute
documents as co borrowers, can also be considered.
 Groups of beneficiaries whose holdings aggregate to the minimum land holding and
situated in a compact block may also be considered for Tractor loan.
 No Minimum acreage – custom hiring unit under MUDRA scheme.
 Purchase of pre used tractor – the age of the tractor should not be > seven years.
Amount of Loan
 Based on the quotation / invoice submitted for the vehicles and implements.
 In case of pre used tractor based on the valuation report of Bank’s Panel Engineer.
Margin
 Loans up to Rs.160000/- – NIL

 If the total cost of Tractor and power tiller exceeds Rs.1.60 Lakhs – Margin 10%.
 Pre used Tractor: 5% – age < 3 years old; 10 % for age more than 3 years to 7 years.
Repayment
 Tractor: 9 years – 18 half yearly instalment’s; Power tiller: 7years or 14 half yearly.
 Pre used Tractor: 5 years-Quarterly/Half yearly/yearly instilments
Security
 Loans Upto Rs 160000/-: Hypothecation of assets created out of loan
 Loans above Rs 160000/- : Hypothecation of assets created out of loan and mortgage
of land whose value is equivalent to loan amount plus third party guarantee.
C. SHG Bank Linkage Programme – Direct Linkage to SHGs
Purpose/Objective
 To provide thrift, credit and other financial services to the poor in all areas enabling
them to raise their income levels and standard of living.
Eligibility
 Self Help Groups (SHG)
Amount of Loan
1st Linkage 6 times of the existing corpus or minimum

of Rs 1,00,000/-, whichever is higher
2nd Linkage 8 times of the corpus at the time review /

enhancement or minimum of Rs 2.00 lakh,
whichever is higher.
3rd Linkage Minimum of Rs. 3.00 lakh, based on the

Micro credit plan prepared by the SHGs and
appraised by the Federations/Support
agency and the previous credit history.
4th Linkage Minimum of Rs. 5.00 lakh, based on the

Micro credit plan prepared by the SHGs and
appraised by the Federations / Support
agency and the previous credit history
subject to a maximum of Rs 35.00 lakh
Interest Rates
 Please refer the Lending Rates link on home page in our Bank`s Website.
Repayment
 Maximum 72 months depending upon the activity.
Security
 Hypothecation of assets wherever created.
D. Joint Liability Group
Purpose
 To augment flow of credit to tenant farmers cultivating land either as oral lessees or
share croppers an small farmers who do not have proper title of their land holding
through formation and financing of JLGs.
 To extend collateral free loans to target clients through JLG mechanism.
 To build mutual trust and confidence between tenant farmers.
Eligibility
 JLGs consist of tenant – farmers and small farmers cultivating land without
possessing proper title of their land
 JLGs should be of similar economic status and carry out farming activities who agree
to function as a joint liability group.
 Members should be engaged in Agri activity for a period not less than one year.
 JLG members should not be a defaulter and nor from the same family.
Amount of Loan
 For Agriculture, Allied Agri and Non Agri activity the maximum loan to the group
will be Rs 10,00,000/- subject to a maximum of Rs 1,00,000/- to an individual.
 For Tenant and oral lessees the maximum loan amount is Rs 5,00,000/ to the group
subject to a maximum of Rs 50000/- to an individual
Interest rates
 For Crop Loans
Amount Interest Rate

KCC upto Rs. 3 Lakh 7% p.a.
 For Term Loan

Upto Rs. 0.50/Rs. 1 lakh per individual or MCLR 1 Year + 2.75%
Rs. 5 Lakh / Rs. 10 Lakh for the group
Repayment
 Loan period varies from 6 months to 60 months depending on the activity for which
the loan is sanctioned.
Security
 No collateral. However, mutual guarantee offered by the JLG members are kept on
record.
E. Kisan Credit Card
Purpose/Objective
 To meet out the short term credit requirements for cultivation of Crops, Post-harvest
expenses
 Consumption requirements of Farmer Household
 Working Capital for maintenance of farm assets
Eligibility
 All Farmers- Individuals/ Joint Borrowers who are owner cultivators

 Tenant Farmers, Oral Lessees and Share Croppers
 Self Help Groups or Joint Liability Groups of Farmers including tenant farmers, Share
croppers etc. Amount of Loan
Salient Features
 Scale of finance for the crop (as decided by District Level Technical Committee) x
Extent of area cultivated + 10% of limit towards post-harvest / household /
consumption requirements + 20% of limit towards repairs and maintenance expenses
of farm assets.
 An additional 10% of the Crop Loan Component increase in Scale of Finance for
every successive year
 Validity of KCC is for 5 years.
 No Margin
 No processing fee up to of Rs. 3.00 lakh
 Interest subvention /incentive for prompt repayment to be available as per the
Government of India and / or State Government norms.
 One time documentation at the time of first availment and thereafter simple
declaration (about crops raised/ proposed) by the farmer.
 KCC account holders can operate the KCC account through Branch, ATM, BC
Points, PoS machines with input dealers/ merchants/ mandies Interest Rates.
 All the existing and prospective Kisan Credit Card holders of our Bank are covered
under Personal Accident Insurance Scheme (PAIS). The Premium is borne by the
Bank.
Interest Rates
 ROI linked to MCLR. However, if Government supported interest subvention is

provided for any component of the limit, the rate of interest will be fixed accordingly.
(Presently interest rate for short term crop loans/KCC sanctioned to farmers up to Rs
3.00 lakh is 7% as per extant interest subvention scheme of Government of India).
 Long term loan limit under KCC is linked to MCL

Upto 3 Lakh 7%
Greator than 3 lakh Please refer the Lending Rates link on home
page in our Bank`s Website.
Repayment
 Each withdrawal under the short term sub-limit be allowed to be liquidated in 12
months without the need to bring the debit balance in the account to zero at any point
of time. No withdrawal in the account should remain outstanding for more than 12
months.
 The term loan component will be repayable depending on the type of activity/
investment as per the existing guidelines applicable for investment credit
Security
 Each withdrawal under the short term sub-limit is allowed to be liquidated in 12

months without the need to bring the debit balance in the account to zero at any point
of time. No withdrawal in the account should remain outstanding for more than 12
months.
 The term loan component will be repayable depending on the type of activity/
investment as per the existing guidelines applicable for investment credit
F. Agricultural Jewel Loan Scheme
Features
 Easy and hassle-free loan process.

 Convenient repayment schedules.
 Low interest rates
 Processing charges and Jewel appraiser charges apply.
 No hidden charges.
Purpose/ Objective
To meet the short term credit requirements for Crop cultivation, repairs of farm assets, allied
activities like Dairy, Fisheries, and Poultries, purchase of inputs like fertilizers, pesticides,
seeds , repayment of debt taken from non-financial institutional lenders etc.
Eligibility
 All individual farmers
Quantum of Loan
 Bumper Agri Jewel Loan – 85 % of Market value of Gold Jewels pledged (or) Scale
of finance / unit cost for approved by DLTC / NABARD whichever is lower.
 Other Agri Jewel loan Products – 70 % of Market value of Gold Jewels pledged (or)
Scale of finance / unit cost for approved by DLTC / NABARD whichever is less
Bumper Agri Jewel Loan : 6 Months
 Other Agri Jewel loan Products: 12 Months
Repayment Period
 Bumper Agri Jewel Loan : 6 Months

 Other Agri Jewel loan Products: 12 Months
Rate of Interest
Bumper Agri Jewel Loan 8.50% Fixed

Others Agri Jewel Loan Products Refer to Home Page
Documents Required
 Duly filled in application form.

 Proof of agriculture land in the name of the applicant and proof for cultivating the
crop.
 Identity proof- Voter ID card / PAN card / Passport / Aadhaar card,/Driving License
etc
 Address proof: Voter ID card / Passport / Aadhaar card / Driving license etc
2. Personal/Individual
A .IB Home Loan Combo
Eligibility
Individuals including Joint borrowers who have
 Availed the Home Loan from Indian Bank

 Satisfactorily serviced the Home Loan for at least ONE year after the Holiday Period.
 Created Equitable Mortgage
 Home Loan account repayments are regular and the account is in Standard Category.
Benefits
 Under the package the borrower is entitled for any one or more of the following loans,
with concessional interest rate and processing charges provided he / she is otherwise
eligible as per the individual loan products subject to repayment capacity and other
eligibility criteria.
 IB Vehicle Loan (Both 4 wheeler and 2 wheeler) * IB Clean Loan (to Salaried Class)
* IB Pension Loan * IB Home Improve
Applicable, Interest Rates and Processing Charges and Concession
Product Concession in Interest Concession in Processing

Rates Charge
IB Vehicle Loan 0.50% from the applicable 50% on applicable
card rate of the respective processing charges of the
period respective product
Salary Loan 0.50% from the applicable 50% on applicable
IB Pension Loan 0.50% from the applicable 50% on applicable
IB Home Improve NIL 50% on applicable
processing charges of the
respective product
Security
 The security prescribed for the individual loan products are to be offered * Equitable
Mortgage taken for the Home Loan should be extended to cover the other loan/s
sanctioned under the package.
CERSAI registration (at Applicant’s cost) to be done
Other Requirement / Details
All other terms and conditions laid down as per the individual loan products should be
complied with. * The Home Loan borrowers can avail any one or more of the above products
subject to fulfilling repayment capacity for servicing existing loan liability/ies and the
proposed loan liabilities
B. Loan/OD Against Deposits
Eligibility
 Term Deposit Holder of our Bank.
Amount of Loan
 90% of accrued value of deposit.
Margin
 10% on accrued value of deposit.
Interest Rates
 2% over the applicable rate for the Term Deposit pledged.
Repayment
 Flexible.
 Maximum upto date of maturity of deposit.
Security
 Pledge of Term Deposit
Salient Features
 For any bankable purpose.
C. IB Clean Loan (To Salaried Class)
Eligibility
Permanent Employees with minimum service/ experience of TWO years with Govt./Quasi
-Govt./ Boards/ Endowments/ reputed companies/ Corporate Industrial Establishments etc.
Reputed Private Sectors :
 Where the Employer is externally rated as “A” and above ( as per current rating –not
more than 12 months old)
 Other large Corporate/MNCs having turnover above Rs,100.00 Crores
Purpose
For meeting Marriage/Educational and medical expenses, to celebrate family functions and
for other household expenses. However, utilization of loan proceeds for speculative purposes
is expressly prohibited.
Age
 Minimum Entry Age 21 years
Quantum of Loan
In Case Eligibility
Salary of the employee is credited in our Maximum of Twenty times of the monthly
Bank and no Check-off/ Undertaking is GROSS salary, subject to the condition that
available the employer will obtain NOC from us for
change of salary account and the take home
pay (after proposed EMI) should not be less
than 40% of the gross salary
Salary of the employee may or may not be Maximum of Twenty times of monthly
credited in our Bank and Check-off / GROSS salary subject to the condition that
Undertaking is available. the take home-pay (after proposed EMI)
should not be less than 40% of the gross
salary.
Customer has already availed Home Loan Maximum of Twenty times of monthly
with us, account is regular and salary is GROSS salary subject to the condition that
credited in our Bank. the take home-pay (after proposed EMI)
should not be less than 40% of the gross
salary.
Margin
 Nil
Interest Rates
 As Communicated by CO from time to time
Processing Fees
 Processing charge as communicated by corporate office from time to time will be

applicable
Repayment
 Maximum up to 84 months subject to closure of the loan 3 months prior to

superannuation
Type of Institution / Organization to be considered for IBCLS
1. PSU, Central and State Govt. Departments, large Corporate/ MNCs (having turnover of
above Rs.100.00 crore).
2. Existing Reputed institutions/ companies having Current Account / OCC/ OD facility with
us, with good track record, timely payment of salary to their employees, statutory deductions
like EPF, tax etc. subject to obtention of approval from ZLCC
Documents to be Submitted by the applicant
 Proof of income (last six months’ Salary Slips showing all deductions or latest Form
16) duly attested by the employer
 Proof of employment (copy of the employment order, Photo Identity Card issued by
the employer, employee number etc)
 Form 16 / ITR
 PAN Card (mandatory)
 KYC documents (like – Passport, Aadhar Card, Ration Card, Election ID, Driving
License etc).
 Authorization to debit SB account / ECS / NACH mandate.
Guarantee
 Guarantee of spouse (wherever applicable) & another employee
OD Facility
This is permitted on a case to case basis and in such cases 1 & additional interest shall be
charged.
 OD facility with maximum of 60 months tenor ( for limit up to Rs,5.00 lakhs ) / 84
months ( for Limit above Rs.5.00 lakhs) on monthly reduction basis.
 The loan must be liquidated 3 months before Borrower’s retirement month.
CIBIL/Experian
 CIBIL/EXPERIAN reports mandatory and CIBIL maximum score should be 700.
Takeover of Liability
 Generally not permitted.
D. IB Vehicle Loan
Eligibility
Salaried class, Professionals, Businessmen, Self-employed persons, our Staff, NRIs*and

Pensioners. Employees of other banks with NOC from employer concerned.
Type of Vehicle Minimum Service/ Experience
4 – Wheeler 2 Years
2 - Wheeler 1 Year (Salaried Class / Pensioner)
2 Year (for all other categories)
Purpose
For purchase of New Two Wheeler or New / Used Four Wheeler (Used four wheeler should
not be more than 3 years and should be certified by reputed automobile engineer / valuer)
Income Eligibility and Quantum of Loan
 Maximum loan ceiling :

 Two Wheeler – Rs.5.00 lakhs.
 Four Wheeler – Rs.200.00 lakhs (including used cars).
 Four Wheeler
Type of Occupation Minimum Gross Income Eligible Amount number

of times of Gross Income
Salaried Person Minimum Gross monthly Maximum 48 times of Gross
income of Rs.25000/- and monthly salary
above.
Pensioner Drawing monthly pension of Maximum 36 times of Gross
Rs.20,000/- and above monthly pension.
Professional and Self- An IT assessee having Gross Maximum of 3 times of
Employed /Business Annual Income of Rs. 3.00 average Net annual income
lakhs above as per latest for the last two years as per
ITR. It should be ensured latest ITR
that ITR has been filed on
regular basis (on yearly
basis). However, Net take
home criteria should be
minimum of 40%
Firms & Companies Firms / companies should be Maximum of 3 times of
in profit during last two average Net annual income
years. Net Profit & cash for the last two years as per
generation during pendency latest ITR
of loan should be enough for
repayment
 Two Wheeler
Type of Occupation Minimum Gross Income Eligible Amount number

of times of Gross Income
Salaried Person No stipulation of minimum Maximum 48 times of Gross
monthly gross income monthly salary
Pensioner Drawing monthly pension of Maximum 36 times of Gross

Rs.10,000/- and above monthly pension
Professional and Self- An IT assessee having Gross Maximum of 3 times of

Employed /Business Annual Income of Rs.1.80 average Net annual income
lakhs above as per latest for the last two years as per
ITR. It should be ensured latest ITR
that ITR has been filed on
regular basis (on yearly
basis). However, Net take
home criteria should be
minimum of 40%
Margin
Type of Vehicle Margin

2 Wheeler 15%
4 Wheeler 15%
 For used vehicle, the loan amount will be restricted to 80 % of the Agreed Purchase
Price or 60% of the valuation of the vehicle or insured Declared value (IDV) as per
the latest Insurance Policy whichever is lower.
 For New Vehicle Margin must be calculated based on Quotation “on Road Cost”.
Processing Fees
 As communicated by corporate office from time to time.
Interest Rates
Repayment
 For Two Wheelers: Maximum upto 60 months
 For Four Wheelers

 New Vehicle : Maximum Upto 84 Months
 Used Vehicle :
Age of Vehicle Repayment Period

Upto 2 Years 60 Months
Between 2 and 3 Years 48 Months
Security
For Loans upto Rs.25 lakhs:

a. Hypothecation of Vehicle purchased out of the loan amount.
b. If considered necessary by the sanctioning authority (based on the risk perception of
the individual proposal) tangible security / guarantee to be made available for the
advance.
For loans above Rs.25 lakhs:
a. Hypothecation of Vehicle purchased out of the loan amount.

b. For portion beyond Rs.25 lakh, 100% collateral security in the form of immovable
properties / NSC / Fixed Deposits / Surrender value of LIC policies is/ are to be
obtained.
c. Suitable third party guarantee may be insisted.
Lien
Bank’s lien should be noted in RC Book. In case of second hand vehicles, it should be
ensured that no prior lien persists on the vehicle.
Insurance
Insurance (bumper to bumper Insurance policy for 4-wheeler) is mandatory and it should be
renewed annually with Bank clause at Borrower’s cost.
Documents to be submitted for processing of application
1. Completed Application Form with passport size photograph

2. Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License
3. Proof of residence such as Recent Telephone Bill / Electricity Bill / Property
Tax Receipt / Passport / Voter’s ID.
4. Proof of business address in respect of businessmen / industrialists.
5. Proof of Employment.
6. Salary Certificate
7. Proof of other income like rent, interest on investment, if any
8. Balance Sheet for the past three financial years in the case of Professionals,
Businessmen & Self employed
9. Income Tax / Wealth Tax (if applicable) Returns for the past 3 years
10. Statement of Bank Account or copy of Bank Passbook for 6 months
11. Copy of Driving License
12. Quotation for Vehicle to be purchased from the authorized dealer
E. Ind Mortgage
Eligibility
1. Salaried class: Permanent Employees of Central / State Govt. / Quasi Govt. Bodies /
Public Limited Companies / reputed Private Limited Companies with clear record of
paying timely salaries.
* Applicant should have minimum completed service of 3 years
* Employees of Indian Bank and other Banks (PSU / Private / Foreign / Co-op) are
also eligible.
Others:
2. P & SE, Other Individuals, Sole-proprietor & Other Business Class:* Self-
employed / Professionals / Traders / Businessmen including , Sole Proprietary
concern, Firms and Limited companies are eligible based on their income level and
cash flow.
3. Pensioners: All Central / State Govt. Pensioners, Family Pensioners, Re-employed
pensioners who are drawing their pension through our branches are eligible
4. NRI customers are also included subject to the condition that the end use is for
bankable purpose, as permitted by RBI.
Age criteria:
 For individuals: Minimum entry level age: 18 years.

 Salaried Class individuals: Exit Level age : 60 years (or date of retirement whichever
is earlier)
 Other individuals: Exit Level age : 70 years
Purpose
 Any purpose including repairs, renovation of buildings, marriage, education,

household festivals / functions, Medical or any bankable purpose other than
speculative purposes
Age, Income & Eligibility & Quantum of Loan
a) Salaried Class:
 Minimum Entry level age: 18 years,

 Exit Level age : 60 years (or date of retirement whichever is earlier)..
 Minimum Monthly Gross Income of Rs.25000/- p.m.,
Maximum Loan Ceiling
 Minimum Rs.5.00 lakh.

 Maximum: Rs.200.00 lakhs: if the property is situated in Tier I /Tier II Centres (As
per
 Maximum: Rs.100.00 lakhs: if the property is situated in all other centres other than
Tier I / II.
Eligible Loan Amount : Repayment Period Max: 36 times of Latest Gross Monthly
< = 60 months Salary
Repayment Period > 60 Months Max: 48 times of Latest Gross Monthly
Salary
b) P & SE / Other Individuals / Sole-proprietor and other Business Classes.

This category includes individuals (not covered under other categories) also who have regular
income through definite sources (that are verifiable & backed by income proof)
 Minimum Entry level age: 18 years
 Exit Level age : 70 years.
Income Eligibility :
 Minimum Annual Cash Profit (PAT + Depreciation) of Rs.3.00 lakhs OR Annual

Taxable Income of Rs.3.00 lakhs based on latest ABS / ITAO
Proof of Income:
1. Audited Balance Sheet for immediately preceding 3 years

2. Income Tax Returns for immediately preceding 3 years / ITAO
Minimum Rs.5.00 lakh
Maximum: Rs.500.00 lakhs: if the property is situated in Tier I /Tier II Centres Tier-wise
classification of centres is given in annexure to this circular
Maximum: Rs.100.00 lakhs: if the property is situated in all other centres other than Tier I /
II
Repayment Period < = 60 Months Max: 3 times of Annual Cash Profit (PAT +
Depreciation)
Repayment Period > 60 Months Max: 4 times of Annual Cash Profit (PAT +
Depreciation)
c) Pensioners :
Pensioners (who are drawing their pension through our branches) can be extended this
mortgage loan facility based on their repayment capacity. As permitted in our Pension Loan
Scheme, all Central / State Govt. Pensioners, Family Pensioners, Re-employed pensioners
may be assisted under this scheme.
As the Pension is routed through our bank, separate income-proof for the same may not be
required. If the borrower includes income through other sources, income-proof shall be
provided & verified as applicable in other cases.
Branch Managers are empowered to consider loans with maximum Exit Age of up to 70
years and ZLCC up to 75 years.
Considering the age & repayment capacity of the pensioners, the eligible loan quantum is
restricted to 50% of the amount permitted for Salaried Class Borrowers as follows:
Minimum Rs.5.00 lakh.
Maximum: Rs.100.00 lakhs: if the property is situated in Tier I /Tier II Centres
 Tier-wise classification of centres is given in annexure to this circular

II Centres
iii) Eligible Loan Amount – Other Individuals (including Pensioners:
Repayment Period < = 60 Months Max: 3 times of Annual Income

Repayment Period > 60 Months Max: 4 times of Annual Income
d) . For Business Class (Firms / Companies etc)- Eligible Loan Amount:
Minimum Rs.5.00 lakh
Maximum: Rs.1000.00 lakhs: if the property is situated in Tier I /Tier II Centres Tier-wise
classification of centres is given in annexure to this circular
II
Eligible Loan Amount
Repayment Period < = 60 Months Max: 3 times of Annual Cash Profit (PAT +

Depreciation)
Repayment Period > 60 Months Max: 4 times of Annual Cash Profit (PAT +
Depreciation)
Margin
 40% of the Realisable Sale Value of the immovable property offered as security – if
property is situated in Tier-I & II cities.
 50% in case of properties situated in other places.
Processing Fees
 As communicated by Corporate office from time to time.
Rate of Interest

Repayment
For Salaried class:
Not exceeding 84 months (No holiday period)
Can be extended upto 180 months by ZLCC – If the applicant is employed in: Central / State
Govt. undertakings / profit making PSUs / MNCs (rated by FITCH / S&P etc at ‘BBB’ and
above) & Top Notch Corporates (i.e. companies having external rating of “BBB” and
above) OR if the mortgage property is situated in Tier I, Tier II centres on case to case basis.
In case of all salaried class borrowers (including co-applicants/guarantors), where salary is
credited with other banks, ECS duly registered in our bank’s favour should be provided
before release of limit.
In case of Salary Credit with our bank, Standing Instruction for recovery should be provided
before release of limit.
The borrower (including co-applicants/guarantors) has to give an Undertaking stating that
the ECS mandate / Standing Instruction given by him will not be revoked during the currency
of the loan without our Bank’s written consent.
For Professional & Self Employed / Other Individuals (incl. Pensioners)/ Business
Class:
Not exceeding 84 months (No Holiday period)
If the mortgage property is situated in Tier I, Tier II centres, the Maximum Period can be
extended up to 180 months by ZLCC.
In all these cases, the borrower’s personal / business accounts shall be maintained only with
our bank / transferred to our bank to facilitate monitoring the level of their income / revenues.
Standing Instruction for recovery should be provided.
Security
 Equitable Mortgage of Property offered as security.

 Equitable Mortgage to be registered (at Applicant’s cost) if there is a provision
for the same in the State where property is located.
 Ind Mortgage Loan against Agricultural property or disputed property /
property attached by Income Tax authorities not allowed.
 The property leased to Hospital, Nursing Homes, Old Age Homes,
Orphanages, and Educational Institutions or to any other similar social sector
infrastructure will not be accepted.
 CERSAI registration (at Applicant’s cost) to be done
Documents to be submitted for processing the application
1. Completed Application Form with passport size photograph.

2. Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License.
3. Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt /
Passport / Voter’s ID.
4. Proof of business address in respect of businessmen / industrialists.
5. Proof of Employment.
6. Salary Certificate.
7. Proof of other income like rent, interest on investment, if any.
8. Balance Sheet for the past three financial years in the case of Professionals, Businessmen
& Self-employed.
9. Income Tax / Wealth Tax (if applicable) Returns for the past 3 years.
10. Sale Deed.
11. Approved Building Plan.
12. Title Deed Documents for 30 years.
13. Proof of title in the Revenue Records. (Legal Opinion from Advocate & Valuation of
property from Engineer will be arranged by Bank at applicant’s cost).
Property (offered as security) to be insured at borrower’s cost with Bank clause against fire,
flood, earthquake, riot and other risks, which are normally covered by insurance companies.
Insurance
 Property (offered as security) to be insured at borrower’s cost with Bank
clause against fire, flood, earthquake, riot and other risks, which are normally
covered by insurance companies – for the entire loan period.
F. Plot Loan
Target Group
Eligible persons/Age of the Applicants/Recognition of Income level /NTHP as applicable for

Home Loan Scheme to Residents/NRIs.
Purpose
Purchase of House site on ownership basis( not on lease basis) layout of which duly
approved by Competent Authority
Quantum of Loan
Permitted up to 36 times of the Gross Monthly Income ( as per latest Salary Slip for salary
class) or THREE times of Annual Net Income ( in case of P& SE /Business category- based
on average of latest Two years ) subject to maximum of Rs,1200.00 lakhs.
For Purchase of Property in Amount of Loan (In lakhs)

Rural 100
Semi-Urban 200
Urban 600
Metro 1200
Margin
 Maximum 25 % for residents and NRIs on the cost of plot.

 LTV ratio should not exceed 75%. If the value of the plot to be purchased is
more than Rs.100.00 lakhs, valuation of two Independent panel engineers are
to be obtained
Processing Fees
Interest Rates
 Plot loan carry additional Interest of 1 % over and above the applicable interest rate
for Home loan and the same can be waived subject to the following.
 On availment of Home loan for construction from our Bank.
 On completion of construction of the house from own source based on the request
made by the Customers and duly evidenced by the Engineer certificate, However
reduction of ROI shall be effective from the date of sanction and not on completion
of construction.
 Construction to commence within Two years from the date of handing over
possession in case of Government HAD.
 For others, Construction to commence within Two years from the date of availing
loan.
 If the construction is not commenced within the maximum stipulated period, higher
Interest rate @ Interest rate applicable to Ind Mortgage loan to be charged on the
expiry of the stipulated period of commencement fro construction for the delayed
period.
Repayment
 Maximum 180 Months. No holiday period
Security
 EM of house site to be purchased and the EM are to be registered.
Other Terms
 For NRIs /PIOs Purchase of plot in rural areas is not permitted

 Property should be properly protected by fencing/compound walls
 Property to be purchased should be in a good, accessible, developed/developing area
 Interest and installments repaid will not rank for IT benefits
G. IB Pension Loan
Eligibility
 Central & State Government Pensioners, Family Pensioners, Re-employed

Pensioners, Indian Bank Retirees (both under VRS & superannuation) whose
Pension SB accounts are maintained at our Bank’s Branch.
 CRS retirees and EPF Pensioners are not eligible for pension loan.
Purpose
To meet any expenses like Medical, Education, Family & Domestic Functions, Marriage etc
Quantum of Loan
Regular Pensioner 15 months` pension credit with No

MAXIMUM & MINIMUM CAP on Loan
amount.
Family Pensioner 12 months` pension subject to a maximum
of Rs.2.00 lakhs & No minimum Loan Cap.
Age Group
Type of Pensioner Max Entry Level Age Max Exit Level Age
Regular Pensioner 75 78
Family Pensioner 70 73
Margin
 NIL
Processing Fees
 Nil for Loans upto Rs.25000/-. Rs.250/- Plus GST for Loans above Rs.25000/-
Interest Rates
Repayment
Maximum Repayment period Up to 10 Years or Maximum exit Age of 78 Years for Regular
Pensioner and Maximum exit age of 73 yrs for family Pensioner whichever is earlier.
Security/Documents
 Authorization to recover monthly loan installment from SB Account where pension is

credited
 Guarantee of spouse eligible for family pension. If spouse is not available, suitable
guarantee from legal heir or family member / third party guarantee – acceptable to
Bank
 Pensioner’s portion of PPO.
 Intimation to PPA.
Other Terms and Conditions
 Where Branch is receiving credit of Pension only – Pensioner’s portion of

PPO should be retained with documents. The Pensioner should furnish an
irrevocable undertaking that he / she will not shift pension credited account to
other banks during the currency of our pension loan.
 Where Branch is disbursing & crediting pension – A Xerox copy of
Pensioner’s half to be kept with documents
H. IB Home Improve
Eligibility
Existing Home Loan borrowers (both residents & non-residents)including our staff members
/ Prospective Home Loan borrowers who are salaried class/ Professional and Business class.
Purpose
For purchase of household furniture, kitchen racks, cupboards, TV sets, Fridge, Computers,
Wall paper provisions, lighting, interior decorations, Air-Conditioners, Kitchen Chimney,
modern gadgets for kitchen / modular kitchen & piped gas supply/cost of digging of bore
well with suitable water lifting devices like jet pump set, compressor, solar system and
immersible pump set cost of Roof Top Solar PV Home Lighting System.
Quantum of Loan
 36 times of Gross Monthly Income subject to a maximum of Rs.300 lakhs.

 Spouse Income can be included for calculating eligible amount can be included for
availing this facility
 Income of spouse /Adult children can be included even if not originally reckoned for
Home loan.
Take Home Pay
 As applicable to Home loan
Margin
 15% of cost of the articles to be purchased under the loan.
Processing Fee
 As communicated by Corporate office from time to time
Interest Rates
 As communicated by Corporate office from time to time

Repayment
 No Holiday period. Maximum 120 months.
Prepayment Charges
 NIL
Security
 Extension of Equitable Mortgage of Property mortgaged for Home Loan/EM of

property for which the facility is availed. * Equitable Mortgage to be registered (at
Applicant’s cost) if there is a provision for the same in the State where property is
located.
CERSAI registration (at Applicant’s cost) to be done.
 As detailed in our Home Loan/NRI Home Loan product. In addition to this Quotation
for articles to be purchased is also to be submitted.
Insurance
• Household articles offered as security to be insured at borrower’s cost with Bank clause
against fire, flood, earthquake, riot and other risks, which are normally covered by insurance
companies.
• Property (offered as security) to be insured at borrower’s cost with Bank clause against fire,
flood, earthquake, riot and other risks, which are normally covered by insurance companies.
I. IB Home Loan Plus
Eligibility
 All existing Home Loan customers who have repaid a minimum of 12 EMIs regularly
and Possession of the House /flat has been taken by the Borrower.
 Staff members /officers who have availed IBHL and converted to SHL are also
eligible.
Purpose
 Any bonafide purpose other than speculative purpose
Quantum of Loan
 Minimum amount – Rs. 1.00 lakh.

 Maximum amount – Rs. 60.00 lakhs.
 Subject to complying the Age, /recognition of income level/NTHP as applicable with
Home loan.
Margin
Quantum of loan is calculated based on the 70 % of the residual value of the House Property
(RSV) after maintaining required margin for the home loan amount outstanding of 90% /
80% / 75% as the case may be.
Processing Fees
 As communicated by corporate office from time to time

Interest Rates
 Please refer to the Lending Rates link on home page of our Bank`s Website
Repayment
 120 months
Prepayment Charges
 NIL
Security
 Extension of EM on the house property.
1. Request letter
2. Up to date EC and tax paid receipt from the competent authority
3. Valuation Report from Panel Engineer
4. Letter of authorization for recovery of EMI.
5. Insurance for the value of Building and other Documents are complied with.
Other Requirements / Details
The revaluation of the House property need not be carried out whenever the request for Home
loan is made within THREE years from the date of sanction subject to availability of
residual value and maintain LTV.
However, the House property should be revalued whenever the request for Home Loan Plus
is made after 3 years from the date of original Home Loan Sanction.
The House Property can be either self-occupied or let out. The residual life of the building /
flat should be minimum of 10 years more than the repayment period of the loan.
Takeover of Accounts
It is permitted to take over the Top up loan also subject to

 Both the Home loan and Top up loan should be under standard category.
 Should have completed at least one year of satisfactory repayment period.
 At the time of takeover, if requested, Top up loan can also be considered subject to
the condition that Home loan should have completed at least one year of satisfactory
repayment period with the existing Bank.
Multiple Home Loan Plus
 Number of Home loan plus against the property at any point of time is restricted to
TWO.
 Second Top up loan can be extended only after a gap of one year from the date of
availment of first Top up loan.
 If IBHL and SHL are existing over different House properties then IBHL Plus can be
availed against both the properties separately subject to availability of NTHP .
J. Loan/OD Against NSC/KVP/Relief Bonds of RBI/LIC Policies
Target Groups
 All properly introduced customers (including all Staff Members, VRS/ Retired staff,
Corporate / reputed partnership firms), whose capacity to service the loan and interest
are appraised
 This facility may be sanctioned either as Term Loan or OD against said securities
under this SLP
Age
 Minimum Entry Age 18 Years
Purpose
 For any permitted bankable purposes such as Trade, Housing, Profession,

Personal consumption and educational purposes etc
Quantum of Loan
Term Loan:
Minimum Rs.10000/- subject to prescribed margins with no upper ceiling.

OD Facility:
Minimum limit Rs.200000/- subject to prescribed margins throughout the tenor of the loan
with no upper ceiling.
Margin
 Loan /Overdraft against Own NSC/KVP/LIC Policy/RBI relief Bonds-25 %.

 Loan against NSC/KVP/LIC Policy/RBI relief Bonds, availed by entities other than
individuals -50 %.
Rate of Interest
 As communicated by CO from time to time

Processing Fee
 1% of the loan amount .Minimum Rs.100/-.

 Applicable GST is to be recovered separately.
Repayment
Not exceeding :
 5 years OR till the date of maturity of the instrument, whichever is earlier – in the
case of NSC/Relief bonds
 6 years OR till the date of maturity of the Policy, whichever is earlier in the case of
Advance against LICs
Security
Creation of appropriate charges on the Securities in the name of Applicant / Borrowers:

 Lien on NSC – Post Office Lien marking charges to be recovered
 LIC: Assignment of LIC Policy in Bank’s favour.
 Relief Bonds: Transfer of bonds in Bank’s favour
Loan Against Money back Policy is not permitted under this scheme.
1. Salary Certificate / IT Return copy for assessing the capacity to service the interest /
installment.
2. Original NSC / KVP/ RBI Relief Bond / LIC Policy
K. Educational Loan
Eligibility
 The student should be an Indian National

 Should have secured admission to a higher education course in recognized
institutions in India or abroad through entrance Test /Merit based Selection process
after completion of HSC ( 10 plus or equivalent)
Age
 There is no specific restriction with regard to the Age of the Student for education
loan.
Eligible Courses
Studies in India( indicative list)
 Approved courses leading to graduate/ post graduate degree and P G Diplomas

conducted by recognized colleges/ universities recognized by UGC/ Government/ All
India Council for Technical Education (AICTE)/ AIB Merchant Services (AIBMS)/
Indian Council of Medical Research (ICMR) etc.
 Courses like ICWA, CA, CFA etc
 Courses conducted by Indian Institute of Management (IIM), Indian Institute of
Technology (IIT), Indian Institute of Science (IISc), Xavier School of Management
(XLRI), National Institute of Technology (NIT), National Institute of Design (NID),
National Institute of Fashion Technology (NIFT) etc
 Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, etc.,
degree / diploma in nursing or any other discipline approved by Director General of
Civil Aviation/Shipping/Indian Nursing Council or any other regulatory body as the
case may be, if the course is pursued in India
 Approved courses offered in India by reputed foreign universities
 Other job-oriented coursers leading to technical / professional degrees, post graduate
degrees / P.G. Diplomas offered by recognized institutions.
However, Diploma in Teacher Training course is not eligible under the scheme.
Studies Abroad
 Graduation: For job oriented professional/ technical courses offered by reputed

universities/ institutions.
 Post-graduation: MCA, MBA, MS, etc.
 Courses conducted by CIMA- London, CPA in USA etc.
 Degree/diploma courses like aeronautical, pilot training, shipping etc provided these
are recognized by competent regulatory bodies in India /abroad for the purpose of
employment in India/abroad.
Rated Institutions
The Educational loan institutions are classified in to three Categories:
A. Rated Indian Institutions:
 Prime Institutions (which will be updated by the bank with frequent intervals) .
 All Institutions accredited by National Assessment Accreditation Council (NAAC).
 Colleges where previous year Placement record is more than 80 %.
B. Unrated Institutions :
Institutions which are not falling under the above categories will be treated as Unrated
Institutions.
C. Foreign Institutions for Studies abroad :
First 500 Ranks of foreign Universities (except China, Russia, and Ukraine) may be
considered for Studies abroad.
Expenses considered for Loan
 Fee payable to college++/ school/ hostel
 Examination/ Library/ Laboratory fee
 Travel expenses in India and passage money (travel expenses) for studies abroad
 Insurance premium for student borrower, if applicable
 Caution deposit, building fund / refundable deposit supported by Institution
bills/receipts.
 Purchase of books/ equipments/ instruments/ uniforms
 Purchase of computer at reasonable cost, if required for completion of the course
 Any other expense required to complete the course – like study tours, project work,
thesis, etc.
 While computing loan required, scholarships, fee waiver etc., if any available to the
student borrower should be taken into account.
 If the scholarship component is included in the loan assessment, it may be ensured
that the scholarship amount gets credited to the loan account when received from the
Government.
 FOR MANAGEMENT QUOTA SEATS:
Fees as approved by the State Government /Government approved regulatory body for
payment seats will be taken, subject to viability of repayment.
Boarding & Lodging expenses as approved will also be considered : (Per Annum)
 Maximum Hostel and Mess Charge

( Areas where college/Hostel is located)
Major A Class Cities Area I Other Places
Up to Rs. 60000/- Up to Rs. 50000/- Up to Rs. 40000/-
Policy rates (Maximum as above) or Hostel and Mess charges prescribed by the College
whichever is less is eligible for consideration.
Credit Guarantee fund scheme for Educational Loans
 For loans sanctioned on or after 16/09/2015 up to a limit of Rs.7.50 lakhs are eligible
under this scheme.
Margin
 Limit upto Rs. 4 lakh: NIL

 Limit Above Rs. 4 lakh
o Studies in India: 5%
o Studies Abroad: 15%
 Scholarship/assistance to be included in margin.
 Margin may be brought –in as and when disbursements are made on a pro rata basis.
Interest Rates

Repayment
Moratorium Period : Course period plus holiday period of one Year

(maximum) in all cases.
Repayment period : Up to 180 EMIs ,commencing immediately after the moratorium
period.
The accrued Interest during the moratorium period should be added to the Principle and
repayment in EMIs to be fixed
Security
 Assignment of the future income of the students.

 Parents/Guardian /Spouse are to be the Joint /Co-Borrowers.
 For Limit up to Rs.4.00 lakhs- No Security.
 For limit above Rs.4.00 lakhs and above Rs.7.50 lakhs- Collateral Security in the
form of suitable third party guarantee to be taken.
 Above Rs.7.50 lakhs-Tangible Collateral Security , the residual value of which is not
less than the loan value acceptable to Bank along with the assignment of future
income of the Student for payment of instalments.
Insurance
Life insurance policy for the Student availing educational loan is mandatory covering the
entire period of loan i.e. Study period, Holiday period/Moratorium period and Repayment
period.
L. Festival Bonanza for Home Loan and Vehicle Loan
Concession in Rate of Interest
 0.10% concession on Home Loans

 0.15% concession on Vehicle Loan
 0.15% concession to Women borrowers under all Retail loan products
Concession in Processing Charges
Home Loans (Resident & NRI) – including Home Advantage, Ind Awas, Home Enrich, Plot
Loans, Home loan Plus, Home loan Improve
 50% concession for loans upto Rs.25.00 Lakh

 75% concession for loans above Rs.25.00 Lakh
Vehicle Loan
 75% concession for 4-Wheeler

 50% concession for 2-Wheeler
M. Restructuring of Personal Loans Due to Covid Pandemic
Restructuring of Personal Loan due to Covid Pandemic
 The borrower accounts which were classified as standard, but not in default for more
than 30 days with the lending institution as on March 1, 2020 are eligible for
restructuring.
 Customers whose income has not been impacted by the Covid-19 Pandemic shall not
be eligible for restructuring.
 Borrowers whose upper age limit does not permit extension of repayment period will
not be eligible.
 Accounts with overdue of more than 30 days as on 01.03.2020 should not be
considered for restructuring.
 Scheme is valid upto 31.12.2020.
 Application Forms request letter from borrower.
 For further details please contact your branch.
3. MSME
A. IB Tradewell
Target Group
 Traders with minimum one year experience with good standing in the market.
Purpose
 To meet working capital requirements

 Term Loan for acquisition of fixed asset, modernization of business place/office
Nature of Facility
 Working Capital: Open Cash Credit, Secured Overdraft, Bank Guarantee, Letter of
Credit, Bills Discounting etc.
 Term Loan for purchase of equipments etc
Amount of Loan
 Minimum: Rs.0.10 Crores

 Maximum: Term Loan: Rs.5.00 Crores
 Working Capital: Secured Overdraft/ / OCC / PC: upto Rs.2.00 Crores
 OCC / PC : Above Rs. 2.00 Crores
Margin (Promoter’s Contribution)
Working Capital:
Stock and Book Debts : 15%

Term Loan:
25% on cost of equipments to be purchased.

Secured OD:
Upto Rs.0.50 Crores – 33% on Immovable property.

Our Bank Deposits / NSC – 10%
Above Rs.0.50 Crores & upto Rs.2.00 Crores – 40% on Immovable property
Our Bank Deposits / NSC – 25%
Government Securities – 20%
Repayment Period
 Term Loan : Maximum 84 months (excluding holiday period of 6 months)
Security
PRIMARY SECURITY:
Secured OD : EM of properties
Other Tangible Security i.e. Our Bank Deposits / NSC etc.
OCC : Hypothecation of Stocks and Book Debts upto 90 days
TL – Machine / Bldg – Hypothecation / EM of assets created out of the term loan.
For NFB: Portion uncovered with cash margin shall be covered with realizable sale value of
EM property / liquid securities.
Open Cash Credit:
 Stock and Book Debts
Term Loan:
 Hypothecation of equipments purchased out of loan
COLLATERAL SECURITY:
Secured OD : Hypothecation of stocks & book debts equal to the limit sanctioned.
Others : Immovable property (Primary + Collateral) and / or liquid security value should be at
least 50% of the limit sanctioned.
Service Charges
 Please refer home page for service charges.

 Processing charges: 50% concession
Interest Rates
 Please refer home page for latest interest rates.
B. IND SME Secure
Target Group
 Micro, Small & Medium Enterprises (Manufacturing & Services Sector)
Purpose
 Working Capital Requirements, Purchase of Fixed Assets, Construction of Building

etc.
Nature of Facility
 Working capital in the form of Secured Overdraft / Open Cash Credit / Packing Credit
/ Bill purchase, etc.
 Term Loan
 Non Fund Based facilities: Letter of Credit / Bank Guarantee
Amount of Loan
 Minimum Exposure : Above Rs.10.00 Lacs

 Maximum Exposure : No Ceiling
Margin (Promotor’s Contribution)
 25% on Stocks and Book Debts

 25% on Plant and Machinery in case of new machines
 50% on Plant and Machinery in case of second hand machines
 30% on Building construction estimate
Repayment Period
 Term Loans – Maximum repayment period of 15 years.
Security
Primary Security:
Secured OD : Mortgage of immovable property

OCC : Hypothecation of Stocks and Book Debts
TL – Machine / Bldg – Hypothecation / Mortgage of assets created out of the term loan.
LC / BG / IBN / FBN – As per extant guidelines.
Collateral Security:
Secured OD : Hypothecation of stocks & book debts.

Others : MORTGAGE of properties.
Service Charges
 Please refer home page for service charges
Interest Rates
 Please refer home page for latest interest rates.
Application
 Application form for Loan
C. IB Micro
Target Group
All Micro units (Manufacturing and service sector – Priority Sector – existing units (with
good track record) as well as fresh units (with satisfactory promoters’ track record,
satisfactory experience of the promoter in the field and viable project).
Purpose
 Term loan requirement plus working capital -as composite loan.
Nature of Facility
 Composite loan
Amount of Loan
 Maximum exposure – Rs 20.00 lacs
Repayment Period
 60 EMIs after a holiday period of 6 months.
Security
 Assets created out of the loan.

 CGTMSE cover to be taken – Mandatory
Service Charges
Please refer home page for service charge
Interest Rates
Please refer home page for service charge
Application Format
Application Form for Loan
D. IB SME E-VAAHAN
Target Group
Individual / Proprietorship concern / Partnership Firm / Private Limited Company / Public

Limited Company / Limited Liability Partnership Firm / Trust
Purpose
 For purchase of 2 / 3 / 4 wheeler electric vehicles (New vehicle) by MSMEs for the
business purpose.
 2 wheeler – for delivering goods to their clients at door step etc.
 3 wheelers – Auto Rickshaw passenger vehicles, commercial vehicle for transporting
material.
 4 wheelers – passenger vehicles for official use by MSMEs / commercial vehicle for
transporting material.
Types of Facility
 Fund Based: Term Loan
Loan Amount
 Maximum Loan Amount: No ceiling

 More than one vehicle per borrower can also be considered.
Margin (Promoters Contribution)
 15% on “On Road” cost of the vehicle
Security
Primary Security: Vehicle/s purchased out of the Loan.
Micro & Small Enterprises CGTMSE coverage (if the limit is for Manufacturing / services
unit upto Rs. 2 crore & if the limit is for Trade sector upto Rs. 1 crore
or
100% collateral security in the form of immovable properties / liquid securities for the loan
portion beyond CGTMSE coverage is to be obtained.

Loans to Medium Enterprises upto Rs. 25 lakh: NIL
Loans to Medium Enterprises above Rs. 25 lakh : 100% collateral security in the form of
immovable properties / liquid securities for the loan portion above Rs. 25.00 lakhs.
Personal Guarantee :
Personal Guarantee of Partners / Directors as per extant guidelines

Repayment Terms
Loan for 2/3 Wheeler: Maximum 48 months (Door to Door tenor)

Loan for 4 Wheeler : Maximum 60 months (Door to Door tenor) i.e. total tenor including
holiday period
Processing and Other Charges
 Processing Charges: 0.59% of loan amount subject to a maximum of Rs. 5900/-

 All other charges applicable
E. IB Contractors
Target Group
 Individual / Proprietor / Registered Partnership / Limited Liability Partnership (LLP) /

Pvt & Public Limited Companies under Micro, Small & Medium Enterprises
(MSME) as per extant definition of Government of India
 Well established contractors (civil, mechanical, electrical etc.), performing contracts
for Central / State Govt. / reputed PSUs / reputed Corporates.
 Contractors / Sub-Contractors should be in the line of business for 3 years & has
earned continuous profit for last 2 years.
 Sub-Contractors are eligible for finance
 GST registration of the borrower is mandatory, wherever applicable.
 Applicant Should have certificate under MSME Act, 2006
Purpose
To finance contractors carrying out work orders from various Central / State Govt
departments /reputed PSUs/ reputed Corporates covers all aspects like purchase of
machinery, working capital requirements etc.
Types of Facility
 Fund Based: Secured OD / OCC / Term Loan / BP

 Non-Fund Based: Bank Guarantee / LC
Loan Amount
 Minimum Loan Amount: Above Rs. 10 lakh per borrower

 Maximum: Rs. 10 Crores per borrower (FB+NFB)
 Rs. 20 Crores per group (FB+NFB)
Margin (Promotes Contribution)
 50% on EM property for Secured OD

 20% on Stock and Book Debts
 20% on equipments / Term Loan
 15% for Bill Finance.
 10% against Guarantees / LC
Security
Primary Security:
 SOD – EM of property (Min. 200% of the limit).
 OCC – Stock and Book Debts
 MTL – Hypothecation of equipments purchased by availing MTL.
 BG- Counter guarantee by applicant.
 Cash margin by way of FDR. Portion uncovered by cash margin should be covered
with value of security.
 LC- Cash margin by way of FDR and Hyp. of stocks procured against LC.
 BP- Undertaking from the debtors to make payment directly to the Bank.
In case of OCC, 100% collateral security coverage in the form of immovable property / liquid
security to be obtained.
Repayment Terms
 Term Loan shall be repayable in maximum of 84 months, including holiday period
Processing & Other Charges
 All Charges are at Card Rate
F. IB My Own Shop
Target Group
 All Micro, Small & Medium Enterprises (MSME).

 Individuals, Professionals and Self-employed people, firms (registered partnership
firms, companies) and businessmen.
 The applicant should have been in the activity for a minimum period of 3 years
 Applicant should not be more than 50 years of age at the time of availing the facility
Purpose
To purchase new commercial space / shop and also second hand purchase provided the
residual life of commercial space is not less than actual repayment period plus 2 years, and /
or fresh construction, renovation of the business premises.
Type of Facility
 Term Loan
Loan Amount
 Maximum Loan amount – Rs.10.00 Crores, limit based on constitution
Margin (Promoter’s Customers)
 Minimum 25% on the cost of property
Security
 EM on commercial property to be acquired

 Personal guarantee of partners / directors in individual capacity
 CGTMSE Coverage to be obtained for all eligible accounts.
Repayment terms
 Maximum 120 months including moratorium period
 Processing Charges: 0.60% of loan amount

 All other charges are at Card Rate
G. IND SME Mortgage
Target Group
 All Micro, Small & Medium Enterprise (MSME) both Manufacturing and Service as
per extant definition of Government of India.
 Existing & New Units – Proprietorship concern / Partnership Firm / Private Limited
Company / Public Limited Company / Limited Liability Partnership Firm (LLP)
Purpose
 Genuine business needs viz. expansion of capacity, purchase of assets meant for the
unit
Types of Facilities
 Term Loan
Loan Amounts
 Minimum Loan Amount:

 New customers : 10 lakhs
 Existing customers : 1 lakh*
*total of existing limit & proposed limit should be more than Rs. 10 lakh
 Maximum Loan Amount: 5.00 Crores
Margin (Producer’s Contribution)
 40% of the security value
Security
 Primary Security: Immovable property proposed to be mortgaged

 Collateral Security: Extension of charge over existing Factory Land and Building,
Plant and Machinery and Current Assets of the unit.
 CGTMSE : Not applicable
Personal Guarantee:
· Personal Guarantee of property owner/s whose security has been considered.
· Corporate Guarantee of group concern/s which had offered the security.
· Personal Guarantee of Partners / Directors as per extant guidelines.
Repayment Terms
 Maximum 120 months (Door to Door tenor)
 At prevailing rates
H. IB Doctor Plus
Target Group
 Individuals / registered partnership firm / Limited Company / Trust etc. Micro, Small
& Medium Enterprises (MSME) – Service Enterprises.
 Key promoters or their spouse should be qualified medical practitioners, with
satisfactory track record.
 Passed out students from various streams (Medicine, Dental etc.) planning to set up
their diagnostic centre / clinics in India. To be eligible for this, the student must have
completed the course in MBBS / BDS / BAMS / BUMS from recognised / approved
college.
Purpose
 Working Capital requirements, For Purchase/ Construction of Hospital / To set up

clinic, clinic cum residence, nursing home (Allopathi, Homeopathy, Ayurvedic etc.),
Machinery / Equipments etc.
 Second hand machinery should not be considered for financing.
Types of Facility
 Fund Based: Working Capital / Term Loan

 Non-Fund Based: LC
Loan Amount
 Minimum Loan Amount: Rs.1.00 Lakh

 Maximum: No Ceiling
 For fresh passed out students – Maximum exposure is Rs.2.00 Crores
 OCC – 20%
 Term Loan- 25%
Security
Primary Security : Hypothecation of assets created out of loan amount.
Collateral Security :
For MSEs:
 Should be covered under CGTMSE. No Collateral Security / Third party guarantee to
be obtained (or)
 Primary Security is held in the form of immovable properties with 100% coverage.
 If Primary security is held in the form of immovable properties with less than 100%
coverage, CGTMSE with Hybrid security to be obtained.
For Medium Enterprises, Security coverage should be at a minimum of 100% in the form of
immovable properties (Primary + Collateral Security).
Repayment Terms
 Maximum 120 months including moratorium of upto 12 months or stabilization of

cash flows from the project whichever is earlier
 Processing Charges:
 Upto Rs 5 lac: Nil for first time borrowers
 Above Rs 5 lac: 0.30% on loan amount.
All other charges are at Card Rate.
I. IND MSME Vehicle
Target Group
 All Micro, Small & Medium Enterprises (MSME) as per extant definition of
Government of India.
 All existing MSME clients with satisfactory promoter/s’ track record, group
affiliation and viable project/s, with or without credit facilities.
 Should have maintained satisfactorily operated account at least for the last one year.
 Applicant should have Road Permit issued by Competent Authority.
Purpose
Financial Assistance for purchase of new vehicle (LMV /HMV) for existing MSME units
meant for transport of Men and Material (This includes Car, Tempos, Mini Van, Trucks etc.)
Type of Facility
 Term Loan
Loan Amount
 Maximum- Rs.2.00 crores
 15%
Security
Primary Security: Hypothecation of vehicles purchased out of Term Loan.

CGTMSE coverage for eligible accounts.
For accounts other than CGTMSE – Immovable Properties with a minimum RSV of 50 %.
Guarantor/s wherever applicable
Repayment Terms
 In case of LMV : 60 EMIs

 In case of HMV: Maximum 60 months (Door to door) Principal in equal Monthly
Instalments and Monthly interest is to be serviced then and there
Processing and Other Fees
 Maximum of Rs.5000/- in case of LMV & Rs.10000/- in case of HMV
J. IND SME Surya Shakti
Target Group
All MSMEs, Mid Corporate & Large Corporates
Purpose
 Setting up solar power plants for captive consumption.

 Solar power plants should be in accordance with the technical standards issued by
MNRE and / or Central Electricity Authority
Types of Facility
 Term Loan
Loan Amount
 No Ceiling
 25% on the cost of the equipment & erection charges
Security
 Primary Security: Assets purchased out of loan

 Collateral Security: EM of property on which solar plant is erected. If the property is
mortgaged with other banks / FIs, NOC only to be obtained from the respective Banks
/ FIs.
 Personal Guarantee: Partner / directors to be obtained.
Repayment Terms
Repayment Period : Door to Door Tenor: 15 years
Moratorium Period:
Roof Top Solar : Maximum 6 months

Others : Maximum 12 months
Interest to be serviced during holiday period.
 All Charges at Card Rate
K. IND GELCS Covid-19
Applicability
 MSME / Business Enterprise (non-MSME) borrowers & PMMY borrowers.

 Total outstanding credit (Fund Based) should not exceed Rs. 25 Crores as on
29.02.2020.
 The account should not be in SMA 2 or NPA.
 Annual Turnover should not exceed Rs. 100 crores for the FY 2019-20.
 GST registration is mandatory unless exempted from GST registration.
 If the borrower is having facility with other Banks/Financial Institutions/NBFCs, the
consolidated balance outstanding as on 29 02 2020 should not exceed Rs. 25 Crores
and a/c should not be in SMA2 or NPA with any Banks/Financial Institutions/NBFCs.
Purpose
 To meet working capital requirements of the unit.
Nature of Facility
 Working Capital Term Loan
Loan Amount
 Upto 20% of the outstanding credit as on 29.02.2020 (subject to Maximum: Rs. 5
crore)
Repayment Period
 Maximum 48 months (Door to Door)

 Holiday Period : 12 months
 Holiday period interest is to be serviced as and when debited i.e, monthly.
 Repayment Period: 36 months – Repayable in 36 EMIs from 13th month onwards
Security
 Charge over floating and fixed assets to be created out of this loan proceeds.
 Extension of existing current assets and fixed assets (Primary and Collateral).
 No additional collateral to be insisted.
Processing Charge
 Nil
Interest Rate
 MSME/ Mudra Business enterprises & Other Business enterprises(Priority) :

Presently: 7.90% p.a. (w.e.f 01/07/2020 – 7.50%)
 Other Business enterprises (Non-Priority) : Presently : 8.40% p.a. (w.e.f 01/07/2020 –
8.00%)
 Rate of interest will not exceed 9.25% during the entire tenure of the loan
Credit Guarantee
 100% Guarantee cover under “Emergency Credit Line Guarantee Scheme” of

National Credit Guarantee Trustee Company (NCGTC) is available for the GECLS
exposure
Guarantee Fee
 Nil
Other Details
Acceptable Mode of Submission of Request By E Mail / In-Person to the Branch

for Credit facility
Documents required Duly filled in Application for IND GECLS
Helpline Numbers & Email ID for queries, Mobile: +917305898976 / +918745984800
facilitations and Grievances Email: ibcovidresponse@indianbank.co.in
Timeline for appraisal, sanction, Within 6 working days from the date of
documentation / disbursement receipt of application by Branch
L. IND SDSM (Indian Subordinated Debt for Stressed MSME)
 Part of “Atmanirbhar Bharat” package to revive the economy post Covid

 Promoter will be provided Personal Loan for infusion in busines
 Units should be
o Standard as on 31.03.2018
o SMA-2 or NPA as on 30.04.2020
o Should be eligible for restructuring
 Loan amount up to 15% of equity+debt (Promoter’s stake)
 Maximum loan amount: Rs.75 lakhs or original debt extended by bank whichever is
lower.
 Credit Guarantee cover 90%
 For further details, please contact your branch.
M. Restructuring of MSME Exposure upto Rs. 25 cr. Due to Covid Pandemic
Restructuring of MSME Exposure Up to Rs 25.00 cr due to COVID Pandemic
 All “standard’ accounts as on 01.03.2020 are eligible.

 Application forms up to Rs 10.00 lakhs. Request Letter from borrower for limits upto
Rs. 10 Lakh.
 Application forms above Rs 10.00 lakhs up to Rs 25.00 cr. Request Letter for existing
exposure above Rs. Lakh.
 For debts in excess of Rs 25 Cr there is a separate resolution policy
 Scheme is valid up to 31.03.2021.
 For further details please contact your branch.

Assignment 1 - Banking Operation

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Assignment 1 - Banking Operation

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Banking Operations

Assignment 1: Indian Bank

Submitted To: Submitted By:

Dr. Kalyani Parmal Ravi Jaiswani

Indian Bank is an Indian state-owned financial services company which was established in

Products of Indian Bank

Savings A/C Current A/C Agriculture Personal

Term Deposite NRI A/C MSME

 Individual – Single Accounts

 ECS/RTGS/NEFT facilities are available

Periodicity Of Provision Of Interest

b. IB Corp SB : Payroll Package scheme for salaried class

Regular employees of Corporate firms, IT sector, Information Technology Enabled Services,

 Pre opened Welcome Kit.

 2 NEFT & RTGS transactions offered free per month.

 Period of OD is for 6 months on reducing Drawing Limit method and interest to be

Periodicity Of Provision Of Interest

Non – Maintenance Of Minimum Balance

 No charges for non-maintenance of minimum balance

Interest on Overdraft Facility

 Zero balance with no charges for non-maintenance of minimum balance

c. Basic Savings Bank Deposit Account

 No initial / minimum balance required

 As applicable to Normal Savings Bank account

 With/Without Cheque facility

Average Monthly Minimum Balance

 20 leaves free per calendar year

ATM Debit Card

Conversion of Account into Normal SB

 As per latest service charges notification

e. SB Platinum : Savings Bank Platinum Account with Sweep Facility

Charges for Non-Maintenance of Minimum Balance

 20 leaves free per calendar year

 For Individuals & Non-Individuals: Online NEFT/RTGS free.

ATM Debit Card

Auto Sweep Features

Sweep Amount & Reverse Sweep

Sweep Amount & Reverse Sweep

Other Features of Sweep

 As per latest service charges notification

Monthly Average Balance

 Resident Individuals aged over 60 years

Cash withdrawal at Non-home branches

 Enhanced cash withdrawal facility without charges from non-home branches up

Excess Debit Charges

Account Closure Charges

 Exclusive colour of Pass Book for ease of identification

 25% concession on the normal charges prescribed for DD

SMS Alert Charges

Debit & Credit Card

 Senior citizen photo debit card with year of birth

Concession in Locker rent

 25% on the rent of small lockers

Minimum Balance Charges

Signature Verification/Photo Attestation/All Certifications

Concession in Interest Rates on retail loans

 0.50 % on Pension Loans

g. IB Mahila Shakti for Women

Accounts where no salary is credited.

Accounts where salary is credited.

Primary account holder:

 Any girl/ woman (student /working/ homemaker/ professional).

h. IB Kishore : Savings Bank Account for Minors