Indian Overseas Bank introduces IOB Trendy account

Reported by: |Updated: April 1, 2021

Indian Overseas Bank has launched ‘IOB Trendy’, a savings account that has been thoughtfully customized keeping in mind the banking preferences of the growing millennial population in the country. The bank said it understands that banking needs are prompted by life needs…small and big and IOB Trendy is a savings bank account scheme introduced towards this endeavour of understanding the banking needs of millennial and customising the scheme to those needs. To open an IOB Trendy account, one needs to be within the age bracket of 21-38 years. The account may be self or jointly operated. In case of a joint account, the primary holder has to be a millennial at the time of account opening. The account provides other value-adds like facility of online submission of application form, free personalized accident (death) insurance cover of Rs500,000 if the quarterly average balance is Rs100,000 and above, free personalised cheque book (maximum 50 leaves per year) delivered at doorstep and free funds transfer online / offline using NEFT / IMPS / RTGS and issue of debit cards as per the choice of the customer by paying the applicable charges