- CNM Business Reporter
~ A Savings Account for the Millennials ~
Indian Overseas Bank has launched ‘IOB Trendy’, a Savings Account that has been thoughtfully customized keeping in mind the banking preferences of the growing millennial population in the country. Millennial today heavily rely on their savings accounts to manage their finances. They want to carry out their banking activities with minimal hassles, and they routinely rely on technology to help them do it. This is exactly what Trendy has to offer…convenient banking with value-adds for the monies they save
for themselves at IOB.
Indian Overseas Bank understands that banking needs are prompted by life needs…small and big.IOB Trendy is a Savings Bank Account Scheme introduced by the bank towards this endeavour of understanding the banking needs of millennial and customising the scheme to those needs.At the time of opening an IOB Trendy account, one needs to be within the age bracket of 21 – 38 years.The account may be self or jointly operated. In case of a joint account, the primary holder has to be a millennial at the time of account opening.
There is no ‘Opening Balance’ requirement for IOB Trendy…meaning to say no charges shall be levied for the first month for non-maintenance. One will need to maintain a daily minimum balance of INR 10,000/- (OR) a daily minimum balance of INR 5,000/- and a digital turnover (transactions using IOB ATM/CDM / IOB Mobile Banking or Internet Banking fund transfer/ IOB UPI transactions or IOB Debit card POS transactions) of minimum of INR 20,000/- per month.