Savings Bank Account Savings Bank Accounts are meant to promote the habit of saving among the citizens

while allowing them to use their funds when required. In other words Savings Bank account is a form of demand deposit account, opened mainly for the purpose of saving and not for any business purpose, subject to restrictions on the number of withdrawals during any specified period. Number of withdrawals in a savings bank account permitted is fifty per half year in a financial year. For accounts opened in the middle of the half year permissible withdrawals will be calculated prorata. If the numbers of withdrawals exceed the permitted limit, a service charge as advised from time to time will be levied. The main advantage of Savings Bank Account is its high liquidity and safety. On top of that Savings Bank Account earns moderate interest too. The rate of interest is decided and periodically reviewed by the Government of India. Presently, the rate of interest is 3.5% compounded half yearly . Purpose These accounts are opened for personal saving purpose. In this account the interest is provided 2 times in a year once in an end of February and secondly in the end of August. OPENING OF ACCOUNTS SAVINGS BANK ACCOUNTS MAY BE OPENED IN THE NAMES OF an individual on behalf of the minors by their guardians Savings Bank Accounts can also be opened and operated by the minors provided they have completed ten years of age. it can also be opened by e or s it means in this the account is being opened by two names . In this case either of the person can come and

withdraw the money by its individual signature it is not compulsory to have both the signature. in joint names of the depositors. In this the account is opened by two names and the amt can only be withdrawn with the signature of both the persons. The amount cannot be withdrawn with single signature both the signature are required.

Accounts by Hindu Undivided Families (HUF) not engaged in any trading or business activity can be opened in the name of the Karta of the HUF.

Branches shall not open Savings Bank account in the name of the following: Any trading or business concern, whether such concern is proprietorship, Partnership, company or association. Government departments/bodies depending upon budgetary allocations for Performance of their functions. Municipal Corporations/Committees Panchayat Samities State Text Book publishing corporations / societies Metropolitan Development Authorities State / District level housing Co-operative Societies. Other banks including Regional Rural Banks, Co-operative Banks and land Development Banks. Introduction of Accounts Bank provides us an opening application form which includes KYC (know your customer) and specimen form, where the applicant for a SB Account submits sufficient proof of identity and address as prescribed in KYC-AML Policy of our bank and the branch is with the bonafides of the applicant and as a respectable person, with such proof of identity and address, branch may open the account without insisting on an introduction by an existing account holder. However a Letter of Thanks to the depositor should be sent as

envisaged in the master circular on General Instructions on Deposit Constituents Accounts. Branch should be in a position to classify such account holders under Low risk-RIP I under KYC Norms / AML Standards. With the exception of the above, and No frills Accounts all other Accounts should be introduced as guided in the master circular on General Instructions on Deposit Constituents Accounts. Things to Consider While Opening a Savings Account

It is advisable to seek the following information from bank before opening the account:

Minimum balance requirements. Penal provisions in case the balance falls below the minimum

stipulated amount

Penalty in case of return of cheques issued or instruments sent on

collection.

Collection facilities etc. offered and charges applicable. Details of charges, if any for issue of cheque books and limits fixed on number of withdrawals, cash drawings, etc.

The minimum amount for opening a saving account is Rs 1000/-.

Document Required For Opening a Savings Account

Two passport size photographs (if more than one person is opening

account then each person will have to give two passport size photographs).

Proof of residence i.e. Passport/driving license/Gas / Telephone /

Electricity Bill/ Ration card/voters identity card

Name proof for students or minor (school or college i-card ) At least 2 proofs are required for both address and name

An introduction of the person from an existing account holder.

(Introducer is a person who is already having an account in that particular branch or in any other branch of the same bank for the last 6 months or 1 year.)

PAN number / Declaration in form no.60 or 61 as per the Income Tax

Act 1961.

PAYMENT OF WITHDRAWAL FORMS Withdrawals are permitted either by cheques issued to the customers or by withdrawal forms provided by the bank. If the withdrawal is been done through withdrawal slip pass book must accompany that order. Withdrawal slips, as a general rule, should not be paid unless accompanied by passbook. Withdrawal slips have been printed with the following clause pass book must accompany this order form. Insistence of pass book while withdrawal slips are presented over the counter for payment will serve as a definite check against funds being withdrawn by unauthorized persons. The concerned member of staff (passing supervising staff) will be personally liable for any loss that may be incurred on account of their negligence in not insisting upon the pass book. Where withdrawal slips are presented without production of the pass book, the Manager/Senior Manager/Deputy Manager or the supervising official in charge of the department may authorize the payment provided they are thoroughly satisfied that such withdrawal

slips are presented by the account holder himself or some one whose identity is well known to them. Payment out of Savings Bank account to third parties through withdrawal slips may be allowed up to a maximum amount of Rupees One thousand only per instrument. Number of withdrawals permitted is 50 per half year. If this limit is exceeded, incidental charges will be levied as per rules in force. All these rules and regulations are subject to revision as per the guidelines issued by Reserve Bank of India, Government of India and Indian Banks Association from time to time. LOSS OF CHEQUE LEAF / BOOK: Loss of cheque leaf or cheque book should be informed to the branch immediately giving the full particulars of cheques(s) issued. INOPERATIVE ACCOUNT Savings and Current account in which there has been no operation for the past 2 years or more will be transferred to inoperative account. A notice, however, will be sent to the depositor before transfer to the inoperative account. Applicable service charges will be charged to the account. If the account remains inoperative totally for a period of 5 years, the same will be transferred to the unclaimed balances account UNDESIRABLE ACCOUNTS In case where operations in the SB or current deposit is not conducted satisfactorily, bank may decide to close the account and pay the balance after giving due notice

Advantages & Disadvantages of a Savings Account You may have been tucking money into a savings account at your local bank or credit union for your entire life without stopping to think about the advantages or disadvantages of such an account. When it comes to money, it

is vital to be aware of your choices and to understand any type of account you use.

Indian Overseas Bank provides various Savings Bank Deposit schemes meant for people belonging to all sections of the society. The Bank stays committed to society to inculcate savings habit among the people while allowing them to use their funds as per their convenience. Our Savings Bank Deposit Schemes include:Regular Savings Bank Account Savings Bank No Frills Account IOB Savings Bank Gold I IOB savings Bank Gold II IOB Savings Bank Silver I IOB Savings Bank Silver II Regular Savings Bank

ELIGIBILITY

Individuals, Joint accounts, Clubs, associations, trusts, Govt. Bodies, societies (including cooperatives), educational institutions, associations and other non-trading organizations. Minors who have completed ten years of age can apply in their names.

MINIMUM BALANCE

You need to maintain a minimum balance of Rs. 100/- for non-cheque operated accounts and Rs. 500/- for cheque operated accounts in branches in rural and semi-urban areas. It is Rs.500 for noncheque operated account and Rs.1000 for cheque operated account in other branches. For pension accounts the minimum balance is Rs. 5/- for non-cheque operated accounts and Rs.

250/- for cheque operated accounts REQUIREMENTS FOR OPENING ACCOUNT INTEREST RATE INTEREST PAYMENT LOAN AGAINST DEPOSIT BENEFITS Application, Proof of identity, Address proof, Introduction, Passport size photograph. 3.50% p.a. Interest is payable half-yearly, every January and July on the minimum balance in the account, between the 10th and last day of the month Not permitted

International VISA Debit Card Instant Credit of Outstation Cheque upto Rs.15,000/Internet banking facility. Multicity Cheque facility Nomination facility Standing Instruction Facility Speedy transfer of funds Anywhere Banking Insurance Products

VALUE ADDITIONS Maintain an average quarterly balance of Rs.10,000 and above in the account and get the following facilities:

Inland drafts / mail transfers not exceeding Rs.10,000/- per month, limited to 2 occasions in a month per depositor issued

without any commission/exchange.

Collection of inland outstation instruments such as cheques / drafts / dividend warrant etc not exceeding Rs.10,000/- per month irrespective of the number of instruments per depositor is done without collection charges.

NO FRILLS SAVINGS BANK ACCOUNT The minimum balance requirement and the charges presently levied by banks on S.B. accounts deter a sizeable section of population from opening /maintaining bank accounts. Our Bank has, therefore, launched a "No-frills" accounts with lower minimum balance in all our branches ELIGIBILITY Individuals, including minors who have completed 10 years of age and pensioners. Joint accounts are permitted. Rs.5/Only by withdrawal slip. Cheque book will not be issued 3.50% p.a. The balance in the account should not exceed Rs.50,000 at any point of time and the total credit in the account should not exceed Rs.1,00,000/- in a year. 25 transactions per half-year No penalty

MINIMUM BALANCE WITHDRAWAL FROM ACCOUNT INTEREST PAYMENT AMOUNT OF TRANSACTIONS

NO. OF TRANSACTIONS PENALTY FOR

EXCEEDING THE NUMBER OF TRANSACTION VALUE ADDITIONS / CONCESSIONS No other value addition / concession allowed in the account. Collection of instruments and issue of DD/MT will attract normal charges. Debit Cards are not issued.

BRANCHES WHERE ACCOUNT CAN BE All branches of the Bank OPENED Rural savers can be exclusively targeted small farmers, artisans etc School children at rural / semi urban schools can be targeted this can be projected as an effortby the bank to inculcate the habit of saving among children! The branch manager can talk to school authorities and arrange for giving a presentation on why th habit of saving/thrift has to be inculcated at a very young age. IOB - Savings Bank Gold I

IOB presents a unique high end SB product for professionals such as Doctors, Lawyers, CAs, Executives working in MNCs, software companies, High Networth individuals etc. We offer host of concessions under this product. All it requires is that you should maintain an average daily balance of not less than Rs.50000 over the last three months. ELIGIBILITY All individuals including professionals such as doctors, lawyers, C.A.s; Executives working in MNC, software companies, Public/private sector and business people, High Net Worth individuals, CEOs, IAS and IPS. The average daily balance over the last three months should not be less than Rs.50000.

MINIMUM BALANCE REQUIREMENT

SPECIAL FEATURES / CONCESSIONS

ATM cards on day one. International Debit Card without charges. Internet banking (E see banking). Personalized Multi city cheques issued at MICR centers free. Monthly account statements over E-mail. SMS alerts for daily transactions. Transfer of funds through RTGS without charges. Transfer of funds thro' NEFT without charges. Personalised cheque books with name printed free of cost. Personal Accident insurance covers of Rs. five lakhs free of cost. Anywhere Banking in CBS/TBA branches. Preferential rate for gold coins ATM usage at any Bank free. Demat account opening charges free. Online Tax payment free of cost. Online bill payment facility. Facility for Family Health Insurance. PAN/TAN facilitation.

Apart from other value additions mentioned above, liquideposit facility offers customers a unique benefit! If the quarterly average balance is between Rs 50,000 and < Rs 100000, the balance exceeding Rs 65,000 will be swept out and kept in TD in units of Rs.2000/-. As and when the minimum balance goes down, the adequate units in TD will be closed and transferred to SB, on a last in first out basis

IOB - Savings Bank Gold II

IOB presents a unique high end SB product for professionals such as Doctors, Lawyers, CAs, Executives working in MNCs, software companies, High Networth individuals etc. We offer host of concessions under this product. All it requires is that you should maintain an average daily balance of not less than Rs.50000 over the last three months. ELIGIBILITY All individuals including professionals such as doctors, lawyers, C.A.s; Executives working in MNC, software companies, Public/private sector and business people, High Net Worth individuals, CEOs, IAS and IPS. The average daily balance over the last three months should not be less than Rs.50000.

MINIMUM BALANCE REQUIREMENT SPECIAL FEATURES / CONCESSIONS

ATM cards on day one. International Debit Card without charges. Internet banking (E see banking). Personalized Multi city cheques issued at MICR centers free. Monthly account statements over E-mail. SMS alerts for daily transactions. Transfer of funds through RTGS without charges. Transfer of funds thro' NEFT without charges. Personalised cheque books with name printed free of cost. Personal Accident insurance covers of Rs. five lakhs free of cost.

Anywhere Banking in CBS/TBA branches. Preferential rate for gold coins ATM usage at any Bank free. Demat account opening charges free. Online Tax payment free of cost. Online bill payment facility. Facility for Family Health Insurance. PAN/TAN facilitation. Online equity trading facility. Overseas Travel card free of charge

If the quarterly average balance is between Rs 1,00,000 and above, the balance exceeding Rs1,25,000 will be swept out and kept in TD in units of Rs.2000/-. As and when the minimum balance goes down, the adequate units in TD will be closed and transferred to SB, on a last in first out basis

IOB - Savings Bank Silver I We offer this special product for individuals employed in reputed companies among Public/Private sector, Government, software companies etc. You get various concessions for an average daily balance of RS.5000 over the last three months. ELIGIBILITY All individuals including those employed in reputed companies, among Software, Public /Private sector, Govt. While opening the account, the account can be opened with '0' balance. The account provides certain concessions and in order to be eligible for the concession, average daily balance in the account during the last three months should not be less than Rs.5, 000.

MINIMUM BALANCE REQUIREMENT

SPECIAL FEATURES / CONCESSIONS

ATM cards on day one International Debit Card without charges. Internet banking (E see banking). Monthly account statements over E-mail. SMS alerts for daily transactions. Online Tax payment facility. Transfer of funds through RTGS without charges. Transfer of funds thro' NEFT without charges. Personal Accident insurance covers of Rs. One lakh free of cost. Anywhere Banking in CBS/TBA branches. Utility Bill payment facility Rent/school fees/college fees/ donations/ IOB credit card bills/utility bills/ Telephone bills Overdraft facility up to one-month salary in case of salary earners. Facility for family Health Insurance IOBhealthcare Plus ATM usage at any Bank free PAN / TAN facilitation.

IOB - Savings Bank Silver II We offer this special product for individuals employed in reputed companies among Public/Private sector, Government, software companies etc. You get various concessions for an average daily balance of RS.5000 over the last three months.

ELIGIBILITY

All individuals including those employed in reputed companies, among Software, Public /Private sector, Govt. While opening the account, the account can be opened with '0' balance. The account provides certain concessions and in order to be eligible for the concession, average daily balance in the account during the last three months should not be less than Rs.5, 000.

MINIMUM BALANCE REQUIREMENT

SPECIAL FEATURES / CONCESSIONS

ATM cards on day one International Debit Card without charges. Internet banking (E see banking). Monthly account statements over E-mail. SMS alerts for daily transactions. Online Tax payment facility. Transfer of funds through RTGS without charges. Transfer of funds thro' NEFT without charges. Personal Accident insurance covers of Rs. One lakh free of cost. Anywhere Banking in CBS/TBA branches. Utility Bill payment facility Rent/school fees/college fees/ donations/ IOB credit card bills/utility bills/ Telephone bills Overdraft facility up to one-month salary in case of salary earners. Facility for family Health Insurance IOB-

healthcare Plus

ATM usage at any Bank free

Facility for automatic transfer of balance in SB to Term Deposit If the quarterly average balance is Rs.25000/- and above, this facility is offered, where in the balance exceeding Rs.35000/- will be swept out in units of Rs.2000/-and kept in TD. When the balance goes down below the minimum requirement, adequate number of units will be closed and transferred to SB on a last in first out basis.

Current Account Current Account is primarily meant for businessmen, firms, companies, public enterprises etc. that have numerous daily banking transactions and who need banking facility more frequently.. Current Accounts are cheque operated accounts meant neither for the purpose of earning interest nor for the purpose of savings but only for convenience of business hence they are non-interest bearing accounts. In a Current Account, a customer can deposit any amount of money any number of times. He can also withdraw any amount as many times as he wants, as long as he has funds to his credit. Generally, a higher minimum balance as compared to Savings Account is required to be maintained in Current account. Current Account is one of the most basic and flexible deposit options for all the business needs. Unlike savings bank account, no limits are fixed by banks on the number of transactions permitted in the Account. A current account is a financial account with a bank or a financial institution. It enables account holders to make or receive an unlimited number of payments as frequently as they

wish. Thus, current accounts are considered as an essential tool for businessmen. As per RBI directive banks are not allowed to pay any interest on the balances maintained in Current accounts. However, in case of death of the account holder his legal heirs are paid interest at the rates applicable to Savings bank deposit from the date of death till the date of settlement. Because of the large number of transactions in the account and volatile nature of balances maintained, banks usually levy certain service charges for operating a Current account.

Advantages:

Overdraft facility is available Speedy fund transactions can be done by this account. Unlimited depositing and withdrawing facility Nomination facility is available under this current account. Third party cheque will be collected by the depositor if they are endorsed.

How to open? Current Account can be opened in the name of an individual or in joint names of the depositors by filling up the appropriate forms. The applicant has to visit the bank himself for opening a new account. Most of the procedures are same as opening a saving account. An existing account holder or a respectable citizen, well known to the bank should introduce the applicant at the time of opening the account. For business accounts, copy of the Business Registration to be submitted by the account holder. Copy of the Memorandum of Association and Article of Association duly certified to be submitted for opening a current account for company or a firm. Opening current account for a society, constitution together with a list of current office bearers to be submitted.

Current Account can be opened by:

An individual who has attained majority. Two or more individuals in their joint names. Sole proprietorship concerns. Partnership concerns. Hindu Undivided Family (HUF). Limited Companies. Clubs, Societies. Trusts, Executors and Administrators. Others - Govt. and semi Govt. bodies, local authorities etc.

Documents Required for Opening a Current Account Different set of documents are required as per bank's norms if the account is opened by partnership firms, private and public limited companies, HUFs / specified associates, societies, trusts etc. Following documents are required in case of individuals Two passport size photographs Proof of residence i.e. Passport/driving license/Gas / Telephone / Electricity Bill/ Ration card/voters identity card An introduction of the person from an existing account holder. PAN number / Declaration in form no.60 or 61 as per the Income Tax Act 1961

How Current Accounts Work Employers often transfer wages directly into the current account. Current accounts provide the facility to make direct payments for bills, rent and mortgage. There are two ways in which a current account holder can do this: Standing Order: If one instructs the bank in which s/he holds a current account to make a monthly payment of a fixed amount to a particular person, it is known as a standing order. Account holders can also change the amount by intimating the financial institution or bank. Direct Debit: When customers instruct their banks to pay an amount (that is not fixed) to a particular person, it is known as a direct debit. The party that has to withdraw the payment can do so by informing the account holder.

Benefits of Current Account Holding a current account has the following advantages:

Interest earnings on balance. Faster and trouble-free access to cash. Electronic payment. Checkbook facility for non-cash payments. Overdraft facility. Management of usual payments like wages and expenses. Online management of money. No need to exchange money while one is abroad. No need to carry cash in bulk. Provision of statement under money management facility.

Current Deposit Schemes Current Deposit Schemes are cheques operated accounts primarily meant for businessmen, firms, companies, public enterprises etc. that have numerous daily banking transactions. In Indian Overseas Bank, we offer the following Current account schemes:Regular Current Account IOB CD Classic We offer IOB-CD Classic a special status account for medium sized companies and proprietary /partnership firms, clubs, societies etc. You avail the features specially designed for you and enjoy the various concessions loaded in the product. ELIGIBILITY Proprietary concern, Partnership firm, HUF, Limited companies, corporations, SMEs, Trusts, Societies, clubs, Association, Local Bodies, Govt. Departments subject to RBI directives The average daily balance in the current account during last three months should not be less than Rs.1 lac.

MINIMUM BALANCE REQUIREMENT

SPECIAL FEATURES / CONCESSIONS

Internet banking (E see banking). Anywhere Banking in CBS branches. Transfer of funds thro' NEFT free. Personal Accident insurance covers of Rs. One Lakh free of cost. Waiver of Dmat account opening charges. Named printed cheque books free of cost upto 100 leaves. Folio Charges @ 50% concession. International Debit Card without charges to all employees and owners. Online Tax payment facility. Customised Multi city cheques issued at MICR centres at 50% concession. Issue of Demand drafts @ 50% concession. Outstation cheque collection charges @ 25% concession. Transfer of funds thro' RTGS @ 25% concession. Utility Bills payment facility. Online equity trading facility. PAN and TAN facilitation facility.

IOB-CD Super, a current account just loaded with lot of benefits. You maintain an average daily balance of Rs.5.00 lakh over the last 3 months and avail the concessions. Really super. ELIGIBILITY Proprietary concern, Partnership firm, HUF,

Limited companies, corporations, SMEs, Trusts, Societies, clubs, Association, Local Bodies, Govt. Departments subject to RBI directives MINIMUM BALANCE REQUIREMENT SPECIAL FEATURES / CONCESSIONS The average daily balance in the account over the last three months should not be less than Rs.5 lac..

Internet banking (E see banking). Anywhere Banking in CBS branches. Transfer of funds thro' NEFT free. Personal Accident insurance covers of Rs. Five lakhs free of cost. Waiver of Dmat account opening charges. International Debit Card without charges to all employees and owners. Online Tax payment facility. Customised Multi city cheques issued at MICR centres free. Name printed cheque books free of cost. Issue of Demand drafts @ 50% concession. Folio charges free. Outstation cheque collection charges @ 50% concession. Transfer of funds thro' RTGS @ 50% concession. Utility Bills payment facility. Online equity trading facility.

PAN and TAN facilitation facility.

Term Deposit Money deposited for specific periods come under the category of Term Deposits/time deposits. The Depositor invests the money with the bank for a specific period to mature on a specific future date as required by the depositor. Term deposits can be made for periods ranging from 7 days to one hundred and twenty months.. Deposit from 6 months and over are classified under FD and the rest are classified under short term deposit The stipulation that term deposit can be accepted for a maximum period of 120 months does not apply to minors deposits. Branches may open A/c s of minors for a period over 10 years, if they are convinced that it is necessary to do so for the protection of minors interest. In case of deposits in the name of minors the deposits can be more than 120 months provided the bank is convinced that it is necessary to do so for the protection of minors interest. In such a case, branches should ensure that the minor does not attain majority before the due date of the deposit. Further, deposits placed under court order may be accepted for the period fixed by the court even beyond 120 months. TYPES OF TERM DEPOSITS Presently following types of deposits are available with the bank Where a fixed sum of money is deposited in one lumpsum for an agreed period to mature on a fixed future date.(Short Deposit, Fixed Deposit, Special Fixed Deposit(quarterly), Special Fixed deposit (monthly),Reinvestment Deposit Plan, Cash certificates). Where a certain agreed sum of money is deposited every Month for an agreed number of months and the entire money so deposited matures on an agreed future date (Recurring Deposits, Wedding Deposits, Education Deposit, Permanent Income Plan/ Cumulative Benefit Deposit Scheme, Earn and Save for You (EASY) Deposit scheme)

ELIGIBILITY Term deposit accounts can be opened by, a. a person in his/her own name b. two or more persons in their joint names payable to: i. both or all of them or to the survivor(S) ii. either or any one or more of them or to the survivor(s) c. a natural guardian on behalf of a minor d. a natural guardian in the joint names of himself/herself and the minor, payable to either or survivor e. a person in name of any minor of whom he/she is the guardian appointed by a competent court f. a minor aged ten years or above in his/her single name to be operated upon by himself/herself g. a club, association, society, educational institution and other such bodies h. Trustees/Executors/Administrators/Courts i. Proprietary concerns, Partnership firms and Limited Companies j. Central/State Government Departments/ Corporations/ Organisations, Local Bodies and statutory authorities, Quasi Government Bodies etc., k. Members of Staff /Ex-staff of Indian Overseas Bank Nominations: Branches should ensure that nomination is obtained for all deposit a/cs at the time of opening of a/cs SIGNIFICANCE OF VARIOUS MANDATES IN INDIVIDUAL ACCOUNTS The Either or Survivor, Any one or Survivor mandate will take effect only on the due date when the deposit becomes payable. When the following declaration as appearing in the application form is signed only it would be feasible to allow premature closure or to grant an advance to the survivor(s). The bank may on receipt of a written application form All the depositors jointly (in the case of instructions to pay the balance jointly). The former only during his life time and after him, survivor(s) (in the case of former or survivor instructions) or Either any one of us or survivor(s) of us (in the case of E or S or Survivor instructions) or All deposits jointly when they are alive or survivor(s) (in the case of instructions to pay the balance to both or survivor (S)/all or survivor) in its sole discretion and subject to such terms and conditions as it may stipulate grant loan/advance/credit facility against the security of the deposit or make premature payment of the proceeds to the applicant Any variation

or revocation of the mandate must be made only under the joint signatures of all the depositors ACCOUNTS OF ILLITERATES OR BLIND PERSONS Accounts may be opened for blind persons or for illiterate persons using thumb impression. Such persons should call on the bank to know more details and for the precautions to be taken by them for operations. ACCOUNTS OF MINORS A minor is a person below the age of 18 years. However when a guardian has been appointed by a court, the minor attains majority at the age of 21 years. Ascertain from the bank as to who can be a guardian and to open the account accordingly and to know further details for premature closure, taking a loan against such deposit and repayment of such deposits. When accounts are opened in the sole name of the minors aged 10 years and above, no advance will be allowed against the security the deposit, no premature payment of the deposit will be allowed. Where the account is opened by the guardian on behalf of the minor the deposit is payable to the natural guardian on the due date. However, if the minor attains majority on or before the due date of the deposit, the amount will be payable only to the erstwhile minor and not to the guardian, irrespective of whether guardianship certificate is obtained or not. In the case of accounts opened by a natural guardian in the joint names of himself and the minor with E or S mandate the amount will be payable to the erstwhile minor or the natural guardian on the due date. INTRODUCTION In case of an existing account holder of a Savings/Current/Term deposit account of the bank, when a reference to the existing account is given in the account opening form, bank may not insist on introduction. New accounts not having an account already with the bank should be properly introduced to the satisfaction of the bank. Introduction to open an account may be typically from any one of the following An existing account holder who has been maintaining a satisfactorily conducted account for a period of at least six months A respectable member of the public with acceptable bonafides and well known to the bank. Any permanent member of our banks staff. Another bank Bank will open the account after verifying with the introducer. TO OPEN AN ACCOUNT

Persons desiring to open a Term deposit Account must attend the Bank, they will be furnished with a copy of these rules and a form of an application to open an account. The application form should be duly filled in and signed as per the requirements mentioned therein. Accounts opened by Individuals and Proprietary firms with the Bank would carry a nomination and the depositor(s)shall at the time of opening the account nominate an individual (not being a minor) of his/her/their choice and submit the application along with the nomination form annexed to the account opening form) duly filled in and signed. Nomination in two or more names/proportionate nomination is not allowed. The nomination can be changed any time by submitting the prescribed form to the bank. For customers who do not have already a relationship with our bank, every party to the account is required to give two copies of latest passport size photographs and the specimen signature clearly mentioning the authority, for record. The requirement of photographs is waived in case of Banks, Local Bodies and Government Departments and Term Deposits for an amount up to and inclusive of Rs. Ten Thousand only. All the Partners / Directors/ Trustees must sign the application form and the specimen signature sheet. The signature(s) must be legible and well formed. All letters to the bank must be signed strictly in accordance with such specimen and as per authority furnished to the bank. Along with the applications, only in case of new customers to the bank every party to the account is required to furnish a CROP(Customer's Record of Profile) form duly filled in and signed to comply with Know Your Customers norms as prescribed by RBI. This form would be updated every year by the customer. Bank will normally accept the following documents for identification and Address proof. PARTNERSHIP ACCOUNT A copy of the partnership deed attested by all the partners. If partners have not written down a partnership deed they can open an account with the bank furnishing a declaration to that effect to the bank. HINDU UNDIVIDED FAMILIES (HUF) A letter in banks standard format signed by the Karta and all the major Coparceners of the HUF. LIMITED COMPANIES a. A true copy of the certificate of incorporation b. A true copy of the Certificate of commencement of business c. A copy of the Memorandum and Articles of Association made up to date.

d. A copy of the Board Resolution passed at a meeting of the Board of Directors (not by circulation)duly certified by the Secretary of the Company for opening the account and conduct of operations thereon. The resolution should clearly state the name of the bank, persons authorized to open and operate the account and carry on such other transactions as dealing with securities, powers to draw, accept, endorse etc., a specimen copy of the resolution is available in the banks account opening form. (a, b & c should be attested by a Director or Secretary of the company, Original should also be submitted for perusal and return) LIQUIDATORS A Liquidator should produce documents to evidence his appointment as Liquidator so as to ensure that he has the powers to carry on the business in the course of Liquidation. In the case of voluntary winding up, certified copy of the resolution and in the compulsory winding up the Court Order should be produced. TRUST Certified copy of the trust deed Where a trust is a charitable trust, a certified copy of the certificate from the charity commissioner Where there is no trust deed, a certified copy of the order from a competent court Certified copy of the resolution regarding opening and conduct of the account. List of present trustees with bio data of each trustee CLUBS, SOCIETIES(INCLUDING CO-OPERATIVES), ASSOCIATIONS, EDUCATIONAL INSTITUTIONS i. Certified true copy of the Rules, Regulations, Bye-laws (as the case may be) ii. Certified true copy of Certificate of Registration or incorporation in the case of registered bodies (originals will be verified and returned) iii. A certified true copy of the Resolution (certified by the Chairman of the meeting of the Governing Board or Managing committee or like body, at which it was passed) authorizing opening of an account with the Bank and giving the list of office bearers authorised to operate the account in accordance with the rules and bye-laws of the body. iv. A copy of the balance sheet in the case of a co-operative society, if available.

v. In some states, the Co-operatives to open account with a bank other than a co-operative bank need permission from the Registrar of Co-operative societies. In such cases a copy of such permission is to be furnished. GOVERNMENT/SEMI- GOVERNMENT DEPARTMENTS A copy of the letter of authority by the Head of the Department permitting the Executive/official of the institution/department to open an account A copy of the Govt. notification/order authorising the concerned official to open and operate bank account. A certified copy of the rules and regulations, if any, framed by the Department/Local body regarding the powers of such executive officers in the matter of opening and operating such accounts. ISSUE OF DEPOSIT RECEIPTS / PASSBOOKS Deposit receipts will be issued only on the Banks specially engraved forms under the signatures of two authorized officials of the bank. Where only one officer is available in a branch, he/she will affix two signatures in the deposit receipt. The deposit receipt will show Depositor(s)name(s) and address, the amount deposited, the period of deposit, due date , amount payable on maturity, deposit account number and the interest rate. Terms of payment such as E or S, A or S will be marked in the deposit receipt. The fact of having registered a nomination will also be entered in the deposit receipt. In the case of Recurring deposits/Wedding Deposits/Education deposits/Permanent income Plan/Cumulative Benefit Deposit scheme/Multiple Deposit account/Multiple Investment scheme,the bank will issue passbooks which should be got updated with the bank after every remittance/withdrawal.The deposit receipt/the passbook is not transferable. A plain discharge must therefore be given by the depositor(s) at the time of renewal/closure/borrowing against the same. An endorsement transferring the amount to another party is not admissible. Instructions to pay the amount of the deposit to a third party or another bank must be conveyed by a separate letter by the depositor(s) along with the discharged deposit receipt/passbook. On a deposit receipt being received by the depositor, the entries should be carefully examined and any error or omission should be immediately brought to the notice of the Bank. Depositor/s shall keep their deposit receipts in place of safety, as the Bank will not be held responsible for any loss for incorrect payment attributable to the neglect of this rule. The depositor shall immediately inform the branch in case of loss of deposit receipt. Any change in the constitution,

address etc., of the depositor shall be immediately intimated to the Bank along with relevant documents and the deposit receipt may be submitted for noting the change/s. No entries shall be made in the deposit receipt by the Depositor or any third person. The Bank reserves at all times its right to rectify or correct the entries wrongly made or found to be fictitious without being supported by tangible evidence. Depositors can apply for a duplicate deposit receipt in writing in case the original is lost or stolen and when the deposit account is not under lien to the bank and the receipt is not held with the bank as security for any purpose or held in safe custody. An indemnity should be signed with appropriate stamp duty in the format available with the bank. Service charge as decided by the bank from time to time will be levied for issuing a duplicate deposit receipt ADDITION/DELETION OF NAMES IN TERM DEPOSITS Addition/Deletion in the deposit accounts of individuals is permitted as follows: a. If in the name of a single depositor , addition is permitted at the written request of the sole depositor b. If the deposit is already in the joint names of two or more persons (including E or S , Any one or Survivor), addition/deletion in the deposit account would be permitted at the written request of all the depositors. c. If the request for addition/deletion of a name is received from the survivor(s),after the demise of one or more of the joint depositors, the legal heirs of the deceased depositor(s) and the survivor(s) should give the consent letter. (In b & c noted above, atleast one of the original depositors should continue in the account) d. In the case of a Former or Survivor account no deletion of the Former is permitted e. No addition or deletion of name(s)is permitted in the case of accounts in the names of minors. f. the duration of the deposit or amount of deposit should not undergo any change. DEPOSITS MATURING ON A HOLIDAY If the date of maturity falls on a holiday or non-business working day, interest at the originally contracted rate shall be paid only for the intervening holiday/non-business working day irrespective of whether the depositor seeks repayment on the succeeding working day or later on. The interest so payable would be on the maturity value in the case of Reinvestment Deposit Plan and

Recurring Deposit accounts and on the original principal amount in the case of other term deposits. This rule applies to domestic as well as Non-Resident deposits. TAX DEDUCTION AT SOURCE (TDS) ON THE INTEREST As per section 194- A of the Income tax act 1961, income tax would be deducted at source from the interest on time deposits (deposits excluding Recurring deposits) with banks at prescribed rates if the amount of interest credited or paid during a Financial year exceed Rupees Ten thousand only branch wise. For calculating the cut-off point of Rupees Ten thousand, bank would also take into account the interest accrued during the accounting year in respect of the particular depositor. Depositors may be guided by Income tax announcements /information furnished in the notice board of the bank on the rates and the ceiling and a separate notice would not be sent to individual depositors. In the case of Joint account deposits the limit of Rupees Ten thousand only would be considered in the hands of first holder only and deducted accordingly. In the case of Minor accounts the interest would be clubbed with interest on deposits of Parents/Guardian. In respect of Reinvestment of Deposits (RDP, Cash Certificates, Multiple Deposit account, Multiple investment scheme) tax shall be deducted at source on the interest at the end of the accounting year or at the time of credit to the account of the payee or at the time of payment whichever is earlier. As per this provision the maturity value in respect of Reinvestment deposit will undergo modification. Following two options are available to the depositors, which can be exercised by giving suitable letter to the bank. However delay in exercising the option or submitting a letter will not bar the bank from Tax deduction, which is a statutory requirement. Option I : The amount of tax to be deducted can be debited to the running(savings bank/current) account of the depositor, if the option is of getting maturity value already quoted in the deposit receipt. Option II: If the depositor is not selecting Option I bank has to effect tax deduction from the accrued interest credit to Reinvestment deposit account for the financial year which will alter the maturity value already shown in the deposit receipt. Bank will issue a certificate for tax deducted in Form 16 A to the depositors. No deduction of TDS will be made in case of declaration under section 197 A of the Income tax act.

 Whenever the depositor produces a valid certificate issued by the income tax officer authorising the bank not to deduct tax If a person not being a company or firm furnishes a declaration in duplicate in Form 15G/15 H to the effect that tax on his estimated total income of the (previous) year is NIL. EXEMPTIONS Interest paid or credited to the following is not subject to tax deduction: a. any banking company to which banking regulation act 1949 applies or a cooperative society engaged in carrying on the business of banking ( including cooperative land mortgage bank) b. any financial corporation established by or under a central/state provincial act c. Life insurance Corporation of India d. Unit Trust of India e. Any company or a Co-operative society carrying on the business of insurance f. Any other institution or Association or body of class of institutions, or associations or bodies, which the Central Government may for reasons to be recorded in writing, notify in this behalf in official Gazette. 16. PAYMENT OF MONTHLY INSTALMENTS In the case of Recurring deposits, Wedding deposits, Education deposit, Permanent income plan, Cumulative Benefit Deposit Scheme the instalment for any calendar month must be paid by the depositor on or before the last working day of that month, failing which, penalty would be levied on the instalments in arrears. PREMATURE CLOSURE OF DEPOSITS Payment of the deposits before due date is permitted entirely at the discretion of the bank at the written request of the depositors, in case of joint accounts (including E or S , A or S ) by all depositors. If any monthly/quarterly/half-yearly/yearly interest on such deposit has been paid, the excess interest paid, if any, will be recovered from the depositor from the amount payable to him at the time of closure before maturity. If the A/c is in the name of single individual - he should write the instruction on the back side (deposit receipt) to close his A/c and sign it. If the account is joint - both the person should sign the instructions written on the back side (of the deposit receipt) to close the A/c. PREMATURE WITHDRAWAL OF MINORS DEPOSIT

In the case of Minors deposit, premature withdrawal may be permitted provided the natural guardian gives a written declaration to the effect that the funds are urgently required to be utilized for the benefit of minor. However applications for premature withdrawals by the natural guardian, in case where the minor would be attaining majority before the due date of the deposit, will be referred by branches to Regional office for approval. PREMATURE WITHDRAWAL OF DECEASED DEPOSITORS DEPOSIT If the legal heir(s)/representative(s) or nominees of the deceased depositor so desire(s) they may be permitted to withdraw the deposit before maturity, after fulfilling all the legal formalities connected with the settlement of claim. In such cases, interest shall be payable at the rate applicable to the period for which the deposit actually remained with the Bank as prevailing on the date of opening of the account minus 1% penalty. RENEWAL OF TERM DEPOSITS Due dates of the deposit is given in deposit receipt/passbook for the guidance of the depositor. Depositor cannot claim any other communication in respect of due date as a matter of right. However the bank will endeavor to send a maturity notice shortly before the maturity date of the deposit, seeking instructions for renewal/payment of the deposit. When requested in writing by the depositor(s)as per the mandate given to the bank the renewals will be carried out. The renewal requests can be made at any Core Banking branches, if the deposit had been issued by a Core Banking branch. Subject to certain terms they will carry out the renewals. Otherwise the renewals can be made only at the deposit-issuing branch. Depositor(s) can also advise the branch at the time of opening the deposit itself for automatic renewal of the deposits on maturity for identical period with interest rates prevailing on the date of maturity. In such a case, depositor(s) can present the deposit receipts to the bank on maturity date or later to get the renewals noted in the deposit receipt. RENEWAL BEFORE MATURITY Whenever there is an upward revision of interest rates on deposits, the depositors in writing may apply to close the existing deposit before maturity and open fresh deposits so as to avail of the benefit of higher rate of interest. The renewal of a deposit before the date of its maturity shall not be regarded as involving premature payment of the deposit, provided the deposit is renewed for a period longer than the remaining period of the original contract. Interest for the period from the

date of deposit till the date of such renewal shall be payable at the rate applicable to that period as prevailing on the date of deposit without deduction of 1% penalty OVERDUE DEPOSITS If a deposit is not paid or renewed on the due date, then it is called as overdue deposit. If a deposit is not claimed within five years from the due date, the account will be treated as inoperative and subsequently will be transferred to unclaimed balances account. No interest is usually allowed on deposit after due date, except in case of renewal. When the depositor requests for renewing only a portion of an overdue deposit, the bank shall allow interest for the overdue period only on the portion of the overdue deposit, which is proposed to be renewed. ADVANCES AGAINST DEPOSITS Depositors may avail loans/cash credit accounts/ advances against deposits from the branch where the deposit account has been opened. or the margin requirements, interest rates and formalities to be complied with, depositors may ascertain with the bank. Deposit accounts may also be extended as collateral to advances availed by the depositors or any other third party with the bank. The maturity proceeds after adjustment of the loan account on the due date will be credited to depositors account only. If they so desire depositors may also request for rollover of the loan account as well as the deposit account. Bank may grant advances upto 85% of the deposit amount to the various type of depositors and to others against the security of banks deposit. The rate of interst chargeable on the advances against the banks term deposits is at 2%over the rate of interst payable on the deposits. NOTICE OF LIEN AND ASSIGNMENT When a notice of lien is received from banks branches, State/Central Government Departments, Income-tax department, Enforcement Directorate, Government investigating agencies, Competent Court and any other competent the same shall be registered by the deposit maintaining branch and depositor will be informed of the lien. Payment of the deposit to the depositors will be made only after lifting of such lien. Depositors can make a valid assignment of debt to a third person and sufficient proof is afforded to the bank, the assignment will be noted by the Bank. The Notice of assignment should be clear as to the intention of the depositor to assign debt due by the bank to a specified third party. Before effecting such payment bank will

deduct any debt due to it by the depositor and/or any overdue amount in an account, which has been guaranteed by the depositor at the time of receipt of notice of assignment. PAYMENT OF DEPOSITS As per section 269-T of Income tax act, whenever payment of term deposits is made to the term depositors, branches of the bank would effect payment of proceeds only by Drafts or Bankers cheques or by credit to the depositors account if the proceeds of the deposit payable is Rupees Twenty thousand or more or when the aggregate amount of deposits held by the depositor in the branch is Rupees Twenty thousand or more. Depositor may seek payment of the proceeds of a deposit in cash if the aggregate amount of the deposit together with interest is less than Rupees Twenty thousand only subject to submission of a declaration format of, which is available with the bank. In case depositors approach any bank other than the deposit issuing branch for encashment of the deposit the same would be done by collection process only with applicable service charges. When the deposit proceeds are paid on maturity date or prematurely to another collecting bank, it would be treated as a collection item and service charges as applicable would be charged. DECEASED DEPOSITORS ACCOUNTS Where the deposit carries a nomination, the claim shall be settled in favour of the nominee as per Nomination Rules in force. When there is no nomination, the claim on the deposit shall be admitted in favour of legal heirs in accordance with statutory provisions. Interest on deceased depositors term deposits shall be paid at the contracted rate on maturity of the deposit if paid on the date of maturity. In the event of payment of deposit being claimed before maturity date, interest shall be paid at the appropriate rate for the period for which the deposit has remained with the bank, without charging the penalty for premature closure. In the event of death of depositor before the date of maturity of the deposit and the amount of deposit is claimed after the date of maturity, the interest shall be paid at the contracted rate till the date of maturity. From the date of maturity to date of payment, simple interest shall be paid at the applicable rate operative on the date of maturity, for the period for which the deposit remained with the bank beyond the date of maturity. However in the case of death of depositor after the date of maturity of deposit, interest shall be paid at savings deposit rate (operative on the date of maturity) from the date of maturity till date of payment

ISSUE OF DUPLICATE DEPOSIT RECEIPTS Depositors can apply for a duplicate deposit receipt in writing in case the original is lost or stolen and when the deposit account is not under lien to the bank and the receipt is not held with the bank as security for any purpose or held in safe custody. An indemnity should be signed with appropriate stamp duty in the format available with the bank. SECRECY OF THE CUSTOMER ACCOUNTS The bank keeps details of the customers accounts and transactions confidential. Bank shall not divulge any information relating to the affairs of its constituents except in circumstances in which it is in accordance with the Law or Practice and Usage customary among banks.

SDR (Short Deposit receipt) This is a deposit which is made for the period less than 6 months. In this deposit the customer need to deposit a fixed amount at the beginning of the term. This amount will be payable to the customer after the maturity with the interest. The customer can also get the amount pre maturely but he will get the amount with the interest only for that particular perid. Special fixed deposit quarterly (SFDQ) This is a special fixed deposit in which interest is paid on quarterly basis Special fixed deposit monthly (SFDM) This is a special fixed deposit in which interst is paid on monthly basis Reinvestment Deposit This deposit is that which is made for 6 months or more than 6 months where the customer has to deposit a fixed amount in the beginning of the term. Objective: Reinvest interest earned on deposit End use : Meet future expenditure like childrens Education, marriage Mode of deposit: Min Rs. 1000, initial deposits in multiples of 100. Renewals any amount.

Deposits accepted for 6 months to 10 years Interest compounded quarterly and paid at maturity. Target all segments: suffices various needs Can be projected as a pension plan as well since depositor will get regular amount similar to monthly pension What is a Reinvestment Deposit Plan? A Reinvestment Deposit Plan basically allows you to reinvest the interest earned on your deposit. Features The interest on your deposit also earns interest. You can avail loans of upto 85% on the principal and also on the interest accrued. You can close your deposit prematurely without any difficulty. (i.e. Premature closure possible, interest applicable according to the deposit period run). Can one apply for a Reinvestment Deposit Plan? If you would like to retain your deposits and accumulate it with interest, you can apply for a Reinvestment Deposit Plan. You could use these deposits to meet any expenditure in the future... children's education, marriage etc. Recurring Deposit Recurring Deposit is a deposit in which a fixed amount is deposited on monthly basis only. It should be divisible by 10s. The customer can also give standing instructions to the bank which states that the bank can withdraw the fixed amount from the savings A/c & deposit it into recurring deposit. In this case the customer need not to come every month to deposit the money. In case if there is not enough amount in the saving A/c to be deposited in the recurring deposit, a penalty will be charged at the time of maturity. If a month or two is left without depositing in the recurring deposit & the customer wants to deposit the money collectively till the current month he can do such but the penalty will still be charged at the time of maturity.

If the customer wishes to close the recurring deposit before maturity, he can do this but he will get the amount plus the interest only for the period that the amount was with the bank If a person has maintained an RD but after some interval of time, he is unable to deposit the money, he can get loan against the amount that is already in his deposit. Objective: Invest small amounts of money regularly. Meant for salaried individual, small trader, housewife, student or rural saver. End- use: Obtain a higher sunm of money at a future date to meet financial obligations. Mode of Deposit: Min Rs. 50 pm, in multiples of 5. Features: Interest at rate applicable for FD; quarterly compounding of interest Loans can be availed upto 90% of (principal + interest) Deposit period ranging from 6 months to 120 months Premature closure possible, period run will determine the rate of interest. Eligibility Salaried individual, small trader, housewife, student or a rural saver Customers having a limited or stipulated income and require a large amount of money but can only save small amounts every month Fixed Deposit A fixed deposit account allows you to deposit your money for a set period of time, thereby earning you a higher rate of interest in return. Fixed deposits also give you a higher rate of interest than a savings bank account. Objective: Invest fixed deposit amount of money for a fixed period at a higher rate of nterest End Use: Retention of savings for a future use. Mode of Deposit: Min Rs. 1000, in multiples of 100 Features: Variable deposit periods, ranging from 6 months to 120 months. Interest payable once in 6 months

Loans can be availed upto 90% of principal Option to withdraw money at any time without difficulty Premature closure permitted, interest applicable according to the deposit period run. Ideal for conservative people who have sufficient insurance cover and are risk averse. Ideal for corporate to invest surplus funds. Who can apply for a fixed deposit account? Individuals and organizations with the intention of retaining their savings for a fixed period for some future use. What are the benefits of a Fixed Deposit? The option to withdraw the deposit at any time before maturity without any difficulty You can avail loans upto 85% of the principal Variable deposit periods ranging from 6 months to 120 months You get interest once in 6 months

Gold Recurring Deposit Eligibility All individuals either singly or jointly. Objective: Coupling the benefits of savings and investment. End- Use: Small Savings result in a significant long term investment, that keeps appreciating in value! Mode of deposit: Min Rs. 250, monthly in multiples of Rs. 50 or Rs. 100 before the last day of month. Period of deposit -Deposits are accepted for a minimum period of 12 months and maximum of 24 months Maturity payment: - Gold coins worth the maturity amount adjusting for the cost of gold coins, balance if any, will be paid to the depositor.
-

If payment is discontinued, gold coin will be given only if maturity value is >/ = price of 2 gm. Of gold coin, provided deposit deposit is kept till the maturity date.

- The price of gold coin will be the price prevailing as on the date of maturity of RD. - If the maturity amount is less than the price of 2 gm. Coin gold coin will not be given the and the maturity proceeds will be paid to the customers. - Free personal accident cover up to Rs. 1 lakh - The gold coin is of 24 carat, 999.9 purity, and in tamper proof packaging. - Assayed/ Certified by PAMP, Switzerland. - The gold coin comes with IOB logo and certificate from IOB. Concession:- Concession of Rs. 25 per gram on the gold price prevailing as on the date of maturity Education Deposit Objective: invest small amount of money regularly. Target Customers: Salaried individual, small trader, rural saver, professional and self employed. End use: otain a large sum of money at a future date for higher education of children. Mode of deposit: 63 months to 84 months Vardhan Scheme - Deposit of Senior Citizens Special Deposit scheme for senior citizens- Any individuals above 60 years of age Mode of deposit: Min Rs. Rs. 5000, Rs. 100 pm for RD. Min period 15 days, Max. 120 months, for RD min. 6 months and Max. 120 months. Senior Citizens are given additional interest over and above the card rates. Depositors may ascertain details on Vardhan Scheme and for the additional interest rates. On deposits payable in less than three months or where the terminal quarter is incomplete, interest shall be paid the actual number of days on the basis of 365 days in a year. At the option of the depositor, interest on monthly basis shall be effected and the monthly interest

payable shall be less than calculated at simple rates which is so on account of directive from RBI that interest shall be paid only on a quarterly basis and any monthly payment would be only on a discounted value. Interest can be credited to accounts maintained with the bank or any other bank through Electronic Clearing or otherwise as per depositors instructions with applicable service charges. During the pendency of an advance against the deposit, the periodic interest would be credited to the loan / cash credit account only and not to the accounts of depositors. Features: - All types of term deposits including RD can be opened, joint A/c permitted. - Additional interest of .75% above card rate for aggregate deposits upto 25 lacs in the same branch or different branches. For deposits above 25 lacs, card rate is payable. - Premature closure permitted- regular rules apply. In case of deposits above Rs. 5 lacs, additional interest payable to senior citizens is not payable in case of prematureclosure. - No additional interest payable for NRI deposits. Free International Debit cards

- Free collection of outstation instruments for a max. of rs. 10000 per month or 2 instruments per month

Deposit scheme for Senior Citizens. Deposits accepted for a maximum period of five years. Minimum deposit amount is Rupees Five thousand . Depositor is eligible for additional interest of 0.75 % pa for deposits up to Rupees fifteen lacs in the same branch or at different branches. Additional interest is protected in the case of premature closure only if the deposit is not more than Rupees Five lakhs.

Who is a senior citizen: Any individual who has completed 60 years of age is treated as Senior Citizen for the purpose of opening account under Vardhan scheme. How to verify the age: Age can be verified by calling for any one of the following document. 1. Pension Payment Order. 2. School leaving certificate. 3. Voters identity card 4. LIC policy where age is admitted. At the time of renewal of a Vardhan deposit branches need not insist on producing the documents in proof of age again. Whether joint accounts are permitted: Yes. Joint accounts of more than one senior citizen and joint accounts of senior citizen with a person below 60 years of age is also permitted. However in the latter case the senior citizen should be the first named depositor. What are the type of deposits that can be opened: All types of term deposits including Recurring Deposit can be accepted. What is the minimum deposit amount: The minimum deposit amount is Rs.5000/- and for RD it is Rs.100 per month. What is the period of deposit: The minimum period is 15 days and a maximum of 120 months. For RD it is 6 months minimum and a maximum of 120 months. What are the rules relating to premature closure and loan against the deposit: The rules are the same as applicable to other term deposits. In the case of premature closure, the additional interest payable to deposits of senior citizens is not payable if the deposit is over Rs.5 lakh. What is the interest payable on the deposit: Additional interest of 0.75% over the card rate is payable for aggregate deposits up to Rs.25 lakh in the same branch and or different branches. If the deposit is over Rs.25 lakh only the card rate is payable. The senior citizen has to give declaration to this effect. Whether the additional interest is payable on NRI deposits: It is clarified that the additional interest is intended for resident senior citizens only. Therefore, the additional interest allowed for senior citizens is not to be extended for non-resident deposits. What are the other benefits provided to the senior citizen

The following value additions are allowed in the Vardhan scheme. 1.FREE International debit cards: The senior citizen is offered free International debit cards by branches. 2.COLLECTION OF OUTSTATION INSTRUMENTS: Collection of outstation instruments upto Rs.10000/- per month, subject to a maximum of two instruments per month in the name of senior citizen, can be made without collection charges. However, actual postage will be recovered.

Floating Rate Deposit Who are all eligible to place deposits under the scheme: Any individual either singly or jointly with others, a natural / legal guardian on behalf of a minor, Hindu Undivided Families, Trusts, companies, firms are eligible to participate in the scheme. What is the period for which the deposits are accepted: Deposits are accepted for period of 3 years and up to a maximum of 10 years. Is there any restriction on minimum deposit amount accepted: The minimum deposit amount accepted under the scheme is Rs.1 lac and in multiples of Rs.10,000/- thereafter. There is no upper ceiling for the amount of deposit. What is the interest rate payable on the deposits: The deposit received under Floating Rate Dposit Scheme will carry interest rate as follows: 5 year G Sec rate (daily average for the last 6 months) for deposits with maturity period of 3 years to 5 years and 10 years G Sec rate (daily average for the last 6 months) for deposits with maturity period of over 5 years to 10 years. As the scheme envisages floating rate of interest, the rate for a particular

deposit keeps changing and it is reset once in six months as on 1st March and 1st September every year irrespective of the date of deposit. The Floating rate fixed as on 1st September 2009 is: Period of deposit For 3 years to 5 years Floating Rate of interest % p.a. 6.48

Over 5 years to 10 years 6.76

Eligiblity: Any individual, singly or jointly Period of deposit: 3 to 10 years Amount: Minimum 1 lakh, multiples of 10000 thereafter Periodicity of interest: Quarterly Interest Rate: Reset on 1st March and 1st Sep every year - 5 year G Sec rate (daily average for the last 6 months) for deposits with maturity period of 3 years to 5 years - 10 years G sec rate (daily average for the last 6 months) for deposits with maturity period of 5 to 10 years. Other features : - Foreclosure permitted (1% charge on premature closure) - Loan can be taken up to 90% of deposit amount - Fixed Deposit (after foreclosure) can be converted to floating rate deposit What is the periodicity of payment of interest: The interest on the deposit is payable quarterly on the 1st working day of January, April, June and September. Can the deposit be closed before its maturity date: Yes. The deposit can be closed before the maturity date provided the deposit has completed 3 years from the date of deposit and a notice for premature closure is given at least 10 days in advance.The deposit will not be closed prematurely if it has not completed 3 years.

What is the interest payable on premature closure: On premature closure there will be a foreclosure charge of 1.00%. The fore closure charge will be deducted from the applicable interest payable on the deposit as reset on every 1st of March and September. Can a loan be taken on the security of the deposit: Loan up to 90% of the amount of deposit can be obtained. The interest payable on the loan will be 2.00% over the Floating rate for self and 3% over the floating rate for third parties. The interest on loan will also be reset corresponding with the interest reset on the deposit. Can the existing Fixed interest rate deposit be converted to a Floating rate deposit: Yes. The existing fixed interest rate deposit can be converted to floating rate deposit by closing the deposit prematurely and opening a floating rate deposit. The interest rate on the prematurely closed Fixed interest rate deposit will be payable at the appropriate rate for the period the deposit has remained with the bank without deducting any foreclosure charges. The Floating Rate Deposit can not be converted to Fixed Interest Rate deposit. Whether all the branches of the bank accept this deposit: The deposit scheme is now available only at Totally Automated Branches of the bank. While all efforts have been made to update the information, constituents are requested to contact the branches for latest details Tax Saver Scheme In the Finance Act 2006, Section 80C of Income Tax Act 1961 was amended to include deposits placed with a scheduled bank to qualify for deduction under 80C. The amount of investment up to Rs.1,00,000 under the notified deposit scheme will be eligible for deduction under Section 80 C of Income Tax Act for individuals / Hindu Undivided Families. In terms of the amendment a deposit scheme has been introduced with certain value added features for the benefit of customers. Tax Saver Scheme Target: Self employed / salaried individuals Amount: Maximum of Rs. 100000 minimum Rs. 10000. Period: 5 years to 10 years.

Mode of deposit: RDP, FD, SFD; interest can be payable half- yearly or quarterly or monthly. Loan cannot be granted against the deposit Repayment: Deposit is repayable on or after maturity date in the normal course. Premature closure is not permitted till the deposit completes 5 years from date of deposit. Rate of Interest: 7.50 % Sr. Citizen: 0.75% over above the above rates. Tax liability on interest on the deposit: Interest on the term deposit is liable to tax, shall be deducted at source. Tax benefit: The single depositor or the first holder of joint deposit can claim exemption from Income tax under section 80C with a maximum of Rs. 1 lac. No premature closure No loans against deposits Target all IT payers by getting in touch with charted accountant who have banking relation with us. Who can deposit: The deposit scheme is open to individuals. The Karta of a Hindu Undivided Family (HUF) can open in his capacity as Karta. The deposit can be in the single name of the depositor or in joint names of two adults or jointly in the name of an adult with a minor (only two joint account holders are permitted) payable to either or survivor. In the case of deposits in the joint names, the tax benefit can be claimed by the first named depositor. How much deposit can be accepted: A maximum of Rs. 1,00,000 is accepted under the scheme from one individual / under one deposit account in year (Year means one year from 1st April to 31st March). The minimum amount that can be accepted is Rs.10,000. Period for which deposit can be accepted: The deposit is accepted for any period from 5 years to 10 years. Types of deposit that can be accepted: The deposit can be accepted in the form of reinvestment deposit (RDP) or Fixed Deposit or Special Fixed Deposit (SFD) and interest can be payable half-yearly or quarterly or monthly.

Branches where the deposit can be opened: The deposit can be accepted by all branches of the Bank. Transfer of deposit: While transfer of deposit between branches of IOB is permitted, transfer between banks is not permitted. Branches, therefore, should not accept deposits transferred from another bank. Special conditions for issue of deposit receipt: The PAN number of the depositor and his signature will appear on the deposit receipt. Loan against deposit / accepting the deposit as collateral security: Loan can not be granted against the deposit nor can the deposit be accepted as collateral security. Repayment of deposit: Deposit is repayable on or after maturity date in the normal course. Premature closure is not permitted till the deposit completes 5 years from date of deposit. Rate of Interest: Special rate of interest is offered for the deposits Special rate for deposits of Rs.10,000 to Rs.1 lac: 7.50% Senior Citizen deposits: 0.75% over and above the above rates. Nomination: Nomination can be made for the deposits as per the existing rules for nomination. No nomination, however, can be accepted in the case of deposits held for and held by or on behalf of a minor. Replacement of lost/destroyed deposit receipt: In case of deposit receipt lost or destroyed, duplicate receipt can be issued by furnishing an indemnityt. Death of depositor: In case of death of depositor, the nominee is entitled to claim the deposit amount before or after the maturity date. The claim from nominee will be settled as per the current guidelines in force for settlement of claim on death of depositors. In case of deposits where the depositor died without giving nomination, the deposit amount can be settled to the legal heirs. Tax liability on interest on the deposit: Interest on the term deposit is liable to tax under the Income Tax Act. The tax on such deposit shall be deducted at source in accordance with the provisions of the Income Tax Act. Tax benefit: The single depositor or the first holder of joint deposit can claim exemption from Income Tax under section 80C for amount invested in the deposit along with all other approved investments under section 80C with a maximum of Rs.1 lac. Cumulative Benefit Deposit

The Cumulative Benefit Deposit Scheme combines the benefits of the R.D. and R.D.P. Your savings are accumulated in the form of R.D. and reinvested after the desired period in R.D.P. What are the features of a Cumulative Benefit Deposit Scheme? The Cumulative Benefit Deposit Scheme has various customer-convenient features. It combines the benefits of both the Recurring Deposit and the Reinvestment Deposit You can invest any amount, anytime You can choose from a combination of four plans Plan I - R.D. for 1 year and R.D.P. for 4 years Plan II - R.D. for 2 years and R.D.P. for 3 years Plan III - R.D. for 3 years and R.D.P. for 2 years Plan IV - R.D. for 4 years and R.D.P. for 1 year You can avail loans up to 85% of investment and accrued interest You can close your deposit prematurely You don't have to pay any penal interest if the R.D. account is closed after the 1st stage The minimum deposit is Rs. 100/-. Higher deposits should be in multiples of Rs. 5/-. While all efforts have been made to update the information, constituents are requested to contact the branches for latest details. The Cumulative Benefit Deposit Scheme has various customer-convenient features.The minimum deposit is Rs. 100/-. Higher deposits should be in multiples of Rs. 5/-.While all efforts have been made to update the information, constituents are requested to contact the branches for latest details. Target on Salaried persons, housewives, students, small savers, professionals and self employed

IOB Insurance linked products

 IOB NRI Shield IOB Jeevan IOB Personal Accident Insurance IOB Health care Plus Vidya Suraksha Vidya Jyoti with Suraksha

Liability Insurance IOB NRI Shield Scheme for NRIs covering travel related risks during their visit to India All NRI Account holders and their family members are eligible for this scheme It covers personal accident, loss of baggages, loss of passport, aditionall fire and allied perils cover is also provided for house property in India in the name of insured person Two Schemes- Plan A and Plan B Plan A: - Sum assured of Rs 1 Lac to 50 lacs, covering the following: Personal Accidents Loss of Baggage/ Passport Delay in receiving checked- in baggage Fire and allied perils cover for house property in India in the name of insured.

 Plan B: - In addition to cover opted under Plan A, Plan B covers:

Health Insurance cover for a sum assured of Rs. 50,000 to Rs. 5 lacs, on payment of additional premium Cover available for actual period of visit to India not exceeding 180 days in a year.

IOB Jeevan Group insurance scheme in association with LIC for all account holders of IOB. Life cover for Rs. 1 lakh (natural death) and Rs. 2 lakh (Accidental death) Coverage for a year, renewable every year Very low premium- depends on age and month of joining the scheme Simple procedure, no medical certification required Nomination allowed Members of joint accounts can be overed individually Benefit for bank: Commission 25% and additionally Administration charge of Rs. 33 per account Hassle free, online remittance at one stretch every july

Personal Accident Insurance Available for SB/ CD Customers of our bank Covers death due to accidents such as Road Rail, Air, Fire, House collapse, electrocution, Earthquake etc. Lowest annual premium of Rs. 9 only per account and claims entitled to a maximum of Rs. 5 lakhs in case of multiple accounts Available for joint and multiple account holders also Sum assured- Rs. 1 Lakh NRE/ NRO accounts, inoperative accounts and cash credit accounts are not covered Age group: 5 to 80 years Validity period: valid for one year from 31.03.09 to 30.03.10 IOB Healthcare Plus Health Insurance for entire family including parents, of our individual account holders at a very low premium No medical examination required Provides hospitalization expense in case of accidents, sudden illness, surgery, in respect of any desease Entry age limit is between 3 months and 65 years, coverage is available upto age of 80 years only. Age limit for dependent childrenfor male upto 21 years, for female upto 21 years or till their marriage, whichever is earlier. Pre hospitalization (period upto 30 days prior to to hospiatalisation) & Post hospitalization (period upto 60 days after hospitalisation) expenses can also be reimbursed

 Ambulance charges: Rs 1000 per policy period Funeral Expenses- In case of death of any insured person, funeral expenses of Rs. 1000/- will be paid under the policy Pre- existing decreases can also be covered after three consecutive claim free policy years Cashless transactions through Third Party Administrator of the policy Coverage: Rs. 50,000 to Rs. 5 lakhs Accidental death can be covered on payment of additional premium Maternity expenses and baby care expenses covered subject to terms and conditions Tax benefit under section 80 D Treatments for NRIs while in INDIA are covered

IOB Vidya Suraksha A group policy to cover students studying in Degree and Professional colleges and their parents Purely an insurance scheme Life insurance and Accident Insurance for both parents and Student Nominal premium College management to get Rs. 25 per student as administrative charges IOB Vidya Jyoti with Suraksha Value Addition to our Education loan scheme Life cover for students (over 16 years of age) availing education loans

 Life cover to parents upto 50 years of age Premium may be added to the loan amount and recovered along with EMI. Liability Insurance Life cover to retail borrowers All retail loans can be covered, where: Mortgage of property is involved Repayment period is at least 3 years Loan amount is between Rs. 10000 to Rs. 50 lacs Branches have to adhere to medical requirements prescribed by LIC subject to loan amount One time premium to be collected Premium can also be added to the loan amount and recovered through EMI Maximum cover available: Upto Rs. 50 lacs Incentive to branches:

10% of premium collected Rs. 55 per account Makes the loan very secure IT Related Products - Internet banking - IOB Mobile

- IOB VISA International Credit Card - POS Machine - Internet Payment Gateway Internet Banking - For individual and corporate users - Query and account services: balance enquiry, last few transactions, statement of account etc. - Funds transfer to: - Accounts within our bank - Accounts with other banks - Payment of direct taxes. - Payment of indirect taxes. - College fees for students. - Credit card payment: register and pay credit card dues online. - Bill payments: Electricity, mobile top-up, Insurance Premium etc. - Payment of loan EMIs, RD Installments - Target Group Corporate customers, all SB Silver and Gold account holders, CD Classic and CD Super Account holders.

IOB Mobile Banking - Prerequisite: Customer should have a mobile phone enabled with any of the following features enabled: SMS, GPRS and J2ME. - Must be a SB/ CD/ CC Account holder of Bank. - Signed application from customer at bank is required.

- Proprietary, HUF firms can also avail this facility - It requires MPIN to operate mobile banking. Types of services offered: SMS/ GPRS - SMS Banking: SMS Alerts+ SMS Pull and enquiry services - Balance Enquiry - Last few transactions - Cheque paid status - GPRS Banking: - All IOB Customers registered for IOB Mobile, having a GPRS handset, with a telecom operator which supports GPRS Services - Services Offered: Balance Enquiry, last few transactions, Funds Transfer (Rs. 5,000 per day, Goods/ Services- Rs. 10,000 per day) - IOB Mobile Suitable for all handsets and all networks; Affords all query facilities and fund transfer - Very handy and customers can virtually carry their bank in their pockets. IOB Visa International Credit Card - Accepted Internationally (over 1,18,000 member Establishments in India and over 130 lakh outlets, worldwide) - No joining fee / Annual fee. - Option of photo card on payment of Rs. 100 - Interest on Roll over credit 24% (annualised) - Upto 4 Add- on cards - Payment mode Cash/ Cheque/E- See Banking/ Auto Debit Facility/ Internet payment/ mobile Banking Payment - The Following Additional benefits are provided free of cost:

- Purchase protection upto Rs. 25000 (for period 30 days from the date of purchase) - Baggage Insurance upto Rs. 25000 (only for Inland travel) - Personal Accident Insurance for self and spouse (Accidental death dy Aircrash/ Rail for self and spouse) - Insurance coverage is given in following table:

Sl. No 1.

Coverage Personal accidental Death due to a) Aircrash (i) Self (Primary card Holder) (ii) Spouse b)Road/ Rail (i) Self (primary Card Holder) (ii)Spouse

Gold Card Rs. 10.00 Lacs 2.00 Lacs 2.00 Lacs 1.00 Lacs

Classic Card Rs. 4.00 lacs 2.00 lacs 2.00 Lacs 1.00 Lacs

POS Machine The usage of both credit and debit cards for payment has increased in all major metros and tier II cities. More shops and malls are coming up daily in cities and payments through cards are invariably accepted in all establishments. The card payment is easy mode of payment for the shops/ establishments and major share of sale transactions are made through cards only nowa days. Now our bank has also entered card payment ACQUIRING Business under tie up with VISA International and M/s. Banktech India (P) ltd.

- POS Machines installed by the bank in various merchant establishments, when used by the Debit/ Credit cards for paying purchases will result in commission from VISA - Competitive commission rates, based on monthly transaction volume - All VISA cards accepted - Merchant to open Current Account with any IOB branch - Loans can be offered to MEs against card payment receivables Types of Transactions on us and off us On us- Commission is more Off Us- Volume is more Note: Commission Structure revised as follows: Monthly Transaction value Commission payable Above Rs. 25 lakhs 1.45% Rs. 15 lakhs to 25 lakhs 1.5% Rs. 10 lakhs to 15 lakhs 1.6% Rs. 5 lakhs to 10 lakhs 1.7% Less than Rs. 5 lakhs 1.8% + Device Fee

USGI Retail Policies In order to provide non-life insurance products to the customers and to augment fee based income, our Bank has entered into a tie-up with universal Sompo General Insurance Company Ltd. As a corporate agent without any risk participation. We provide both retail and corporate policies to our customers. Some of our retail policies are Motor Insurance Schemes- Pvt. Car/ Two Wheeler/ Passenger Carrying Vehicle/ Goods carrying Vehicle/ Miscellaneous Vehicle Farmers package policy Shopkeepers insurance policy Cattle insurance policy Householders insurance policy

Jewellers Block policy Burglary policy Workmens Compensation policy Fidelity guarantee Money Insurance Office Package policy All Risk Insurance policy The insurance cover is provided by universal sompo general nsurance co. ltd.

USGI Commercial policies

Standard fire and special perils policy Marine cargo specific policies (Inland and Export/ Import) & Annual Sales Turnover policies Marine cargo open policies & Annual Salesturnover policies Machinery breakdown policy Electronic Equipments Insurance Contractors All risk insurance Erection All risk insurance Boiler pressure plant insurance Industrial All risk insurance Publicliablity (Act)- Insurance Public Liablity (Insurance and storage risks)

Comission Structure
1. Fire, Engineering InsuranceI. Individuals

II.

2.

3. 4. 5.

Corporates Paid up capital upto rs. 15 crores Paid up capital above Rs. 15 crores upto 25 crores III. Risk qualifying as larger risks under para 19(v) of file and use guidelines Motor Insurance Business (other than third party), Workman compensation, Employee liability and statutory public liability business Marine Cargo Marine Hall insurance All other insurance

10% 10% 6.25% 5%

10% 15% 10% 15%

The insurance cover is provided by Universal Sompo General Insurance Co. ltd.

LIC Types of Policies To cover the life of our customers from any unprecedented/ unfortunate event, we have tied up with LIC of India to provide life insurance cover. We are a corporate agent of LIC of India and getting commission that boosts our fee based income. We are marketing all policies of LIC, these policies of LIC, these policies can be divided in the following plans.
Insurance Plans - Children Plans/ Plans for handicapped dependents/ Endowment Assurance Plans/ Plans for HNIs/ Money back Plans/ Special Money Back plan for women/ whole life plans/ term assurance plan/ joint life plan

Pension Plans Unit linked plans Special Plans Groups scheme Social security scheme

Some of the best selling policies are Jeevan Akshay VI Jeevan Tarang Market plus I Jeevan Anand Jeevan Sathi plus New BIMA Gold

LIC Best Selling policies Jeevan Akshay VI Regular income Peace of mind life long
Pension for life life Pension certain for 5 or 10 or 15 or 20 years and life thereafter Pension for life for annuitant and after death, 50% for life to spouse. Pension for life increasing at 3% simple interest every year Commission to bank 2% one time.

LIC best Selling Policies Jeevan tarang A unique Whole of life plan
Guaranteed Annual survival benefit @ 5.5% of Sum Assured throughout life life after the premium paying term. Tax benefit Available according to Sec 80C and Sec 10 (10D) Single premium facility and loan facility available

Age: 0 to 60 years Payout lans: At the end of premium paying term, bonus in one lumpsum. No further payments. Every year 5.5% of SA is payable as long as life assured is life Payment of full sum assured, along with loyality additions, on life assured reaching 100 years or to the family on death of life assured if earlier.

Commission* to Bank (Premium paying terms > 15 years) 35% 1st year (25% + 10% Bonus) 7.5% 2nd and 3rd year 5% subsequent years

* Commission may vary as per premium paying terms

LIC Jeevan Saathi Plus LICs Jeevan Saathi Plus is a unique unit linked policy in which married couple can et the benefit of LIFE Insurance Plus Market Investment growth for both of them in a single policy. The proposer who pays premium is principal life assured (PLA) and the spouse is spouse Life insured (SLA). Option to choose separate amount of cover for self & spouse, the cover to spouse being less or equal to proposer. Sum Assured:
Minimum sum assured: (Annualised premium X 5), or (Single premium X 1.25) Maximum Sum Assured: A. If both lives upto age 40 years : (Annualised Premium X 30) : (Single premium X 5)

B. If any of the lives age 41 & above : (Annualised Premium X 20) : (Single premium X 2.5)

 Modes of premium payment: Yearly, Half yearly, Quarterly, Monthly(ECS) or Single Premium

Fund Structure: Investment in four funds Bond, Secured, Balanced and growth Features: - Switching of funds 4 times a year is free - Top up in multiples of Rs 1000/- ids allowed - Beyond that each switch costs Rs 100/- Partial withdrawl allowed after 3 years Benefits:
Maturity Benefit: Fund value as on date. It can be taken in one lump sum or in installments spread over 5 years as settlement option Death benefit: PLA dies during term: - Full S.A to spouse added tonit fund. - Future Premia waived - Units equivalent to future premia - Policy continues till maturity.

** If spouse also dies thereafter during the term, the nominee gets - sum Assured for which spouse is insured + 2) policy Fund value as on date

Spouse dies during the term: - Full S.A for which spouse is insured - Policy continues till maturity. No premium waiver benefit. ** If PLA also dies thereafter during the term, the nominee gets 1) Full S.A for which PLA is insured + 2) Fund value + 3) Value of future premiums On Simultaneous death of PLA & SLA during the term: Nominee will be the beneficiary He/ She will be paid - Sum insured for PLA + date + - Sum insured for SLA + premiums. Fund Value as on Value of future

Commission to Bank - 2%, in case of single premium - 14%, in case of non- single premium

Market Plus 1 Investment plus Pension

Unit linked Pension Plan With or without life cover* If life cover is opted, in case of unfortunate death during policy term, both Fund value as well as Risk Cover Sum Assured are payable. On survival, the fund value is compulsorily utilized to provide immediate annuity at rates then available. All modes of payment available, however single premium is most popular. (Note that single premium fetches lower commission to us.) Minimum age at entry 18 years. Maximum age at entry, without life cover: 80 years Maximum age at which pension can vest: 40 years Minimum sum assured: - Rs. 1 lakh if risk cover is opted - Rs. 25000/- without risk cover. Maximum Sum Assured is equal to Single premium and 20 times regular premium. Four funds to chose from 4 free switches per year. Bond fund: predominantly investment in call market nad money markets. Secured fund: predominant investment in debt market (Govt debts and Corporate debts) Balanced Fund (Balanced investment in debt and equity markets)

 Growth fund (Predominantly invested in equity markets.) IT exemption under 80 C Lock in period of 3 years and no exit charges on surrender Top up facility available Commission ** to bank 7.5 % First year 2 % Subsequent years

* The without life cover plan can be extended to otherwise un-insurable people like old, sick, etc. ** Commission may vary as per premium paying terms.

Jeevan Anand Financial Security even after policy term

Unique life Insurance plan where there is double benefit of: Maturity Benefit along with bonus at the end of policy term Continued financial security for family for full sum assured even after term of policy for full life time. Premium qualifies for IT qualifies for IT exemption under Sec 80C and maturity under 10 (10) D Age band: 18 to 65 years Policy terms: 5 to 57 years Maximum age at maturity 75 years Also popular as a package plan Retire and enjoy which can give tax free pension Minimum Sum Assured: Rs. 1Lakh Premiums: Monthly/ Quarterly/ Half yearly/ Yearly Commission to Bank

 35% First year 7.5 % 2nd and 3rd year 5% subsequent years

* Commission may vary accordingly premium paying terms.

New Bima Gold Four in one policy

Money Back Policy with: Auto cover facility Money back every four years Lower premium higher risk cover Extended insurance cover even after maturity Three Different terms: 12 Yrs: 15% Sum assured at end of 4th, 8th yrs 16 yrs: 15% SA at end of 4th 8th and 12th yrs 20yrs: 10% SA at end of 4th, 8th, 12th, 16th years Maturity Benefits: Premiums paid under the policy, excluding the benefits already paid and any extra premium. Loyality additions, if any. Death Benefit: Full sum assured for death during the term During extended term, 50% of sum assured Commission* to Bank 35% First year 7.5 % 2nd and 3rd year

 5% subsequent years

*Commission may vary as per premium paying terms.

IOB FINE GOLD IOB FINE GOLD 999.9 pure gold from PAMP, SWITZERLAND WHY GOLD? Safest form of investment A perfect gift for all occasions Effective hedge against inflation A very attractive corporate gift for employees as bonus during festive season Packed in attractive, tamper proof for employees as bonus during festive season Available in 2, 4, 8, 20 grams coins and 50 & 100 grams rectangular bars Highly competitive rates - discount can be considered on case to case basis for bulk orders RETAIL CREDIT SCHEMES Sahayika
Loan to meet social commitments like marriages etc. Applicant should be an individual in employment with or business/ professional or self employed with regular income. Quantum of loan amount Rs. 5 lacs. Repayment period: 48 EMIs

Pensioners loan Scheme

All pensioners to meet personal expenses. Repayment out of pension amount in 48 EMI for those below 65 years and 24 EMI for above 5 years Quantum of of loan: Up to 65 years of age 10 times the monthly pension or Rs. 1.00 Lac whichever is lower. Over 65 years of age 10 times of monthly pension or Rs. 50000 whichever is lower.

Subhagruha

 Housing Finance for resident individuals Quantum of loan up to 50 lakhs, for high networth individuals up to Rs. 2 Crores Repayable in 20 years under floating rate option, and maximum repayment is 10 yearsn for fixed rate option.

Home Improvement Scheme

Loan for repair/ renovation of homes. Quantam of loan up to Rs. 10 lacs Repayable period: 120 EMI with a holiday period of 3 months

Home Loan for NRIs

Loan scheme for Non resident Indians of India origin monthly income not less than Rs. 10000. Quantum of loan RS. 50 lacs or 80% of the cost or 20 times the gross salary . Repayable period 15 years, for fixed rate maximum repayment is 10 years. Security Mortgage of property

Home Dcor
For interior decoration/ furnishing of existing homes. Quantum of loan Rs. 5 lacs Repayable period 60 EMI

Pushpaka
Loans to buy new/ used car or new two- wheeler. 90% of cost of new car and two wheeler and 75% of market value of used car finance against hypothecation of vehicle. Maximum loan amount Rs. 5 lacs for used car, which should not be moore than 5 years old Repayment 60 EMI for new cars and 36 EMIs for used cars.

Liquirent
Loan against rental receivables for owners of buiding let out to corporate/ banks/ MNCs etc. Quantum of loan maximum of 75% rent due and receivables subject to a ceiling of 60 months rent.

Clean Loan
Loan for salaried employees to meet personal and domestic expenses. Quantum of loan 10 times the monthly salary or Rs. 5 lacs whichever is lower for employees whose salary is routed through us and 5 times the monthly salary for other employees. Quantum of loan for LIC agents, 10 times of average monthly commission in a year with a maximum of Rs. 2 lacs. Repayment 60 EMI where the loan amount is based on 10 months salary/ commission and 36 EMI for others.

Vidya Jyothi
Education loan for education in India or Abrod in reputed institutes. Maximum loan amount Rs.10 lacs for study in study in India and Rs. 20 lacs for study in abroad. Repayable in 5-7 years, after completion of study in Abroad. Repayable in 5-7 years, after completion of studies No collateral security for loans up to Rs 4 lacs

IOB Akshay
Loan against Life insurance policies of companies approved by IRDA. Maximum loan amount 90% of surrender value in the form of CC/ DL/ TOD. Repayment 36 EMI

Sanjeevani
Loan Scheme for Registered Medical Practioners to construct Nursing homes/ hospitals/ purchase of equipment/ vehicle/ Ambulance. Maximum loan Rs 2 crores in Metro/ Ubran area, Rs. 50 lacs in semi urban area, Rs 50 lacs in semi-urbanarea and Rs 10 lacs in rural area.

 Margin 15-25% for purchase of equipments, 25- 30% for construction of nursing home. Repayment in 5-7 years

Easy trade
Hassle free loans to retail traders upto 100 lakhs. Insurance of stock, submission of stock statement etc are not insisted. Margin- ranges from 10 to 50%.

Commercial cash credit against jewellery

For business needs/ running a commercial activity of people engaged in business, against prime security of jewels.

Agricultural Jewel loan

Loan for agricultural purposes against primary security of jewellery, at an attractive ate of 7%

NRI Accounts Foreign Currency (Non Resident) Account

Foreign currency (Non resident) (FCNR) accounts can be opened by non resident Indian and persons of Indian origin with nomination facility. The accounts can be opened as term deposits in US dollar (USD), Great Britain Pount (GBP), Euro (EUR), Japanese Yen (JPY), Canadian Dollar (CAD), and Australian Dollar (AUD). The period of deposit will be I year to 5 years. Interest will be paid on maturity, in the same currency of the deposit. For deposits of tenure up to one year simple interest will be paid and for deposits of tenure beyond one year the interest will be compounded at half yearly rests. The maturity proceeds inclusive of interest are fully repartiable. Minimum amount of deposit shall be: USD 1000, EUR 1000, GBP 1000, CAD 100, AUD 1000, JPY 100000

Premature closure is allowed. However the interest payable in such cases will be one percent below the rate of applicable for the period the deposit has run. No interest is allowed on a deposit if closed prematurely before completion of one year. Loan against such deposits can be availed in Indian rupees up to 75% of the deposit amount and accrued interest or Indian Rupees 1,00,00,000 (whichever is lower) for puposes other than investment. FCNR accounts are opened only at designated branches.

Non Resident External (NRE) Account

NRE Accounts are Indian rupee denominated accounts that can be maintained as savings, Current or term deposit. Accounts can be maintained individually or jointly with other NRI/ PIO. Credits to NRE accounts can be by way of remittance from abroad in permitted currencencies, or by transfer from other NRE/ FCNR accounts. The entire balance in the account is fully repartiable. Loan facility available against the security of NRE Term deposits. Interest income is free from income tax Premature closure of deposit is permitted subject to conditions. Operation in the account allowed by duly executed power of attorney or mandate for local payments. Nomination facility available. Nominee can be resident Indian.

Non Resident Ordinary (NRO) Account

For NRI and PIOs meant for bonafide local banking transactions denominated in Rupees, not involving any violation of the provisions of FEMA (Note: Opening of accounts by individuals/ entities of Bangladesh/ Pakistan nationality/ ownership requires prior approval of RESERVE Bank of India)

When a resident Indian becomes non resident, the existing account in India will be designated as NRO account. The accounts can be in the form of savings, current or term deposits. Joint account with other NRI(s)/ PIO or close resident relative is permitted. Remittances from abroad and legitimate dues in India of the account holder ca be credited to the account. Interest income is subject to income tax. The following debits are permitted in the account All local payments in rupees including payments for investments Remittance outside India of current income like rent, dividend, pension, interest, etc . in India of the account holder. Remittance up to USD One million, per financial year (April March), for all bona-fide purposes, to the satisfaction of the bank.

Resident Foreign Currency (RFC) Account

Can be maintained by NRI who has returned home for permanent settlement settlement, after staying abroad for min. 1 yr. Can be opened without RBI approval. Can be maintained in USD/ EUR/ GBP/ JPY/ AUD/ CAD as Savings/ Term Deposits Following Credits are allowed: Balances in NRE/ FCNR accounts at the time of return Income from overseas assets or sales proceeds of overseas assets Entire amount of pension received from abroad Balance in the account can be remitted abroad for bonafide purposes either for self or dependents If going back abroad, funds can be traferred to NRE/ FCNR accounts Interest earned is subject to tax

Real Time Gross Settlement (RTGS)

The acronym 'RTGS' stands for Real Time Gross Settlement. The Reserve Bank of India (India's Central Bank) maintains this payment network. RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a 'real time' and on 'gross' basis. This is the fastest possible money transfer system through the banking channel. Settlement in 'real time' means payment transaction is not subjected to any waiting period. The transactions are settled as soon as they are processed. 'Gross settlement' means the transaction is settled on one to one basis without bunching with any other transaction. Considering that money transfer takes place in the books of the Reserve Bank of India, the payment is taken as final and irrevocable. Fees for RTGS vary from bank to bank. Both the remitting and receiving must have Core banking in place to enter into RTGS transactions. Core Banking enabled banks and branches have assigned RTGS 11character alphanumeric codes, which are required for transactions along with recipient's account number. RTGS is a large value (minimum value of transaction should be Rs. 1,00,000) funds transfer system whereby financial intermediaries can settle interbank transfers for their own account as well as for their customers. The system effects final settlement of interbank funds transfers on a continuous, transaction-by-transaction basis throughout the processing day. Customers can access the RTGS facility between 9 am to 4:30 pm on week days and 9 am to 12 noon on Saturday. The statistics of transactions for the month of March 2004 shows that in the interbank market transactions involving 45,000 instruments and aggregating Rs. 1,79,000 crore (1,790 billion) were settled. High value instruments (3,17,000) settlement aggregated Rs. 2,74,000 crore (2,740 billion). However, settlement of MICR instruments (145 lakhs) accounted for only Rs. 54,000 crore (540 billion). RTGS will eliminate settlement risk in the case of interbank and high value transactions.

Banks could use balances maintained under the cash reserve ratio (CRR) instead of the intra-day liquidity (IDL) to be supplied by the central bank for meeting any eventuality arising out of the real time gross settlement (RTGS). The RBI fixed the IDL limit for banks to three times their net owned fund (NOF). The IDL will be charged at Rs 25 per transaction entered into by the bank on the RTGS platform. The marketable securities and treasury bills will have to be placed as collateral with a margin of five per cent. However, the apex bank will also impose severe penalties if the IDL is not paid back at the end of the day. The RTGS service window for customer's transactions is available from 9.00 hours to 16.30 hours on week days and from 9.00 hours to 12.30 noon on Saturdays for settlement at the RBI end. However, the timings that the banks follow may vary depending on the customer timings of the bank branches.

National Electronic Fund Transfer

National Electronic Fund Transfer (NEFT) is an online system for transferring funds of Indian financial institution (especially banks). This facility is used mainly to transfer funds below Rs. 1,00,000. The Reserve Bank of India has instructed banks that they should not use RTGS for amounts below Rs 1 lakh (100 thousand). The new rule came into effect on 1 January 2007. For small transactions, RBI has asked banks to offer National Electronic Fund Transfer (NEFT) which provided T+0 and T+1 settlement system (depending on the time a customer gives instruction to the bank for transferring the fund).

Comparison
The key difference between RTGS and NEFT is that while RTGS is on gross settlement basis, NEFT is on net settlement basis. Besides, RTGS facilitates real-time ("push") transfer, while NEFT involves six settlement cycles a day 9:00 am, 11:00 am, 12:00 pm, 1:00 pm, 3:00 pm and 5:00 pm on week days and three settlements at 9:00 am, 11:00 am and 12:00 pm on Saturdays. Thus if a customer has given instruction to its bank to transfer money through NEFT to another bank in the morning hours, money would be

transferred the same day, but if the instruction is given later during the day, money would be transferred next day. However, RTGS facility is available in over 25,000 branches, while NEFT is available in 51,219 branches of 88 banks (as of 25 October 2008)[2]. Besides, while all commercial banks have put in place the RTGS facility, only 43 banks have purchased the software required to facilitate NEFT based transaction. RBI has instructed banks that all branches which are RTGS enabled should also provide NEFT by December 2006. Sources said that RBI also had planned to discontinue EFT (electronic funds transfer). This is because EFT is available only in 15 locations where RBI has its clearing house. The minimum transaction value for RTGS is Rs. 1,00,000,[3] whereas there is no minimum value for NEFT.

History
The NEFT system went live with effect from 21 November 2005. NEFT was set to cover all banks which were participating in the Special Electronic Funds Transfer (SEFT) clearing. NEFT was made on the Structured Financial Messaging Solution (SFMS) platform and is Public Key Infrastructure (PKI) enabled. RBI made it mandatory to migrate all the SEFT banks to NEFT by 15 December 2005. As NEFT would be serving all the bank customers using SEFT, the SEFT system was discontinued from 1 January 2006. Banks which fulfill the eligibility criteria for participation in RTGS were invited by RBI to participate in the NEFT.