Indian Overseas Bank offers upgradation facility on Savings Scheme Variants

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Chennai, July 6th, 2024: Indian Overseas Bank (IOB), one of the largest PSU banks in India, is now offering customers a chance to upgrade their existing savings account scheme to higher variants through the bank website. The higher variants of savings account like SB Max and SB HNI offer a host of enhanced facilities and attractive features, which includes concessions and waiver of various charges, providing customers with more value and flexibility.

IOB CO

To initiate the upgradation process, customers can log in to the IOB website, navigate to the Online Services section, enter account number and OTP, and choose the desired savings scheme from the available options. The details of the new scheme will be displayed for review. Upon reviewing the details of the new scheme, customers can complete the switch by clicking the submit button, with an acknowledgment generated upon successful completion.

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

Besides this, to provide further impetus to paperless banking, IOB has introduced a new service that enables customers to access their loan account statements directly through the Digilocker app /web portal.

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