The Indian bank offers mainly 5 different types of accounts for its customers. Each account will have some unique features and based on the needs of the customers the accounts have been designed.

1. Saving Bank Account

This saving bank account is mainly for the pensioners and students who can’t able to maintain the minimum balance. Here there will be a minimum balance requirement, but few concessions will be applied. The minimum balance for the people with the checkbook is Rs.500 and without a checkbook will be Rs.1000.

In this account, you will get a lot of benefits like a free ATM card for the first year, 50 free withdrawals for the half-year, Online Govt. Policies fund transfer, 2 free cheque books will be issued per calendar year, and many more other features. To get this account, the account holder should be a student or they should be from any clubs or organization, or government bodies, or any registered trusts.

2. IB Am

This type of account is especially for kids who are interested in saving money at a very young age. The account is applicable for kids who are above 10 years of age. Under the guidance of their parents or guardian, the children can open this smart kid account. The best part of this account is that they will get an ATM debit card and other internet bank facilities.

They will also need to maintain the minimum requirement, as with the checkbook it is Rs.250 and without a checkbook, it is Rs.100. This is applicable for children only below 18 years of age that is the account holder needs to be between 10 and 18 years of age.

3. SB Platinum Account

Are you belonging to a corporate individual or an individual with a high net worth? Then the Indian bank will recommend this SB platinum account as it is for the people who are looking for a safe and reliable saving deposit account. Here the account holder needs to maintain a minimum balance of Rs.2500.

This account comes with some exciting benefits which are insurance cover, for the inter-city transaction there will be free of charge, and free ATM debit card for the first year. The account can be opened for a period of 15 to 180 days. If the account holder has any excess funds then they can convert them to a term deposit.

4. Vikas Savings Khata

The Vikas savings khata account is also said to be the zero balance account where there is no need to maintain the minimum balance. This type of account is mainly for the people who are not financially well and also for the people who are new to the bank facilities. This is one of the simple and cost-effective options to deposit your money.

In this account, the benefits included are a free ATM card, 10 free transactions, and cost no charges for the intra-city transactions. Also, here there is no need to deposit an amount as it is possible to open the account without any initial deposit.

When compared to the other saving account, this zero balance account comprises one feature which is the nomination facility. As here the bank will help the account holder families in proceeding with the account if there is a sudden death of the account holder. But you need to remember that this is only for the people who are deprived of the bank facilities and features.

5. IB Corp SB Account

The IB Corp SB account is only for the corporates or any kind of organization or to the government bodies. Here, there is no need to maintain the minimum balance. This account comes with some of the benefits like free mobile and internet banking, no charges will be added in case of not maintaining a minimum balance, and the account holder will get a free Rupay Platinum debit card.

But for this, the account holder should be a regular employee of any IT sector, public sector, education institution, hospital, hotel, MNC’s companies, or any other particular private sector company. They should have salary credit associated with the bank.

Apart from these five main accounts, there are other types of saving accounts available for the customer provided by the Indian bank. Based on the needs and requirements of the customer the savings account will be designed. For example, there are savings accounts for women who can’t maintain a minimum balance, for the elder people who are more than 60 years of age, for the youth between 18 years and 40 years, for a small account, scholarship accounts, and so on.

Before you open the account online, you need to decide what type of account you are going to open. Now, just get into the topic of the Indian bank online account opening process.

Indian Bank Account Opening Online – Eligibility Criteria?

To open an online account in an Indian bank, the account holder should be eligible to the below-mentioned requirements;

The opening of an account in an Indian bank is applicable only for the citizens of India

The account holder should be 18 years or above 18 years of age

Even illiterate people, people with any disabilities, or people who have associated with clubs or institutions or societies or trusts or any government bodies can also be applicable for opening the account