Indian Overseas Bank Offers up gradation Facility on Savings Scheme Variants

by Psu Connect
Date: 06-07-24

The higher variants of savings accounts, such as SB Max and SB HNI, offer enhanced facilities and attractive features, including concessions and waivers of various charges, providing customers with more value and flexibility.

Indian Overseas Bank Offers up gradation Facility on Savings Scheme Variants

Indian Overseas Bank (IOB), one of the largest PSU banks in India, is now allowing customers to upgrade their existing savings account to higher variants through the bank's website.

The higher variants of savings accounts, such as SB Max and SB HNI, offer enhanced facilities and attractive features, including concessions and waivers of various charges, providing customers with more value and flexibility.

To start the upgrade process, customers should log in to the IOB website, go to the Online Services section, enter their account number and OTP, and select the preferred savings scheme from the options provided.

The details of the new scheme will be shown for review. After reviewing the details, customers can finalize the switch by clicking the submit button, and they will receive an acknowledgment upon successful completion.

Commenting on this development, Mr. Ajay Kumar Srivastava, MD & CEO, of Indian Overseas Bank, said, “We are committed to offering a comprehensive self-service model that enhances our customers’ banking experience. By leveraging the latest technology, we aim to simplify banking processes and introduce innovative solutions to enhance banking convenience.”

IOB has introduced a new service to enable customers to access their loan account statements directly through the Digilocker app or web portal, further promoting paperless banking.

Building on its existing suite of Digilocker offerings, which includes savings account statement generation and Form 16A issuance, IOB continues to expand its customer centric digital initiatives. IOB also plans to expand its range of services available through Digilocker, further simplifying and enriching the banking experience for its customers.