Indian verseas Bank

(A Govt. Of India Undertaking)

Steel Township Branch
Mail:[email protected]

Date: 16.08.2023
To,
Dear Parents,
DELHIPUBLIC SCHOOL, ROURKELA

Subject Opening of SB SUPER STARAccounts for children between 1day&25 years

Respected Parents,
Firstly, Iwould like to inform you that IOB Rourkela Steel Township branch is the
proud bankingpartner of one of the most esteemed school DPS Rourkela and we
are grateful to the institution forsucha long standingassociation for over 20 years.
Now in this fast paced world and ongoing digital revolution in the country we
have come up with a new & revamped product for the little super stars of the
school IOB SUPER STAR aCCoUnt.This account is loaded with special features and
allows our future heroes to be associated with banking from a very early age.
Details of the product are enclosed herewith.

We would like to inform you that respected schoolauthorities will also support us
in this initiative and very soon we willbe organizing camps to facilitate opening of
accounts for your kids. Iwould humbly request everyone for your whole hearted
support and participation.
Touching Hearts Spreading Smiles!!!!
I) Documents required for A/C operated by guardian &Self =2copies photo
of guardian &student, Aadhar card copy of both. (In case Aadhar card of
child is not available please provide a copy of birth certificate &school ID.)

haning You
 Annexure 3

Features of IOB SUper Star Account

SN Scheme Name/Features IOB Super Star Account

Target group Age-l day to 25 years

1days to 10years (Account shallbe opened as
2 Eligibility a joint account with Parernt/Guardian) and
Above 10years and up to 18 years -minor self
operated. Above 18years, major self-operated.
Transactions that are savings-oriented in nature
are permited. Commercial transactions are
3 Nature of Transactions non-allowable transactions. If non-allowable
transactions are noticed, then the Branch may
close the account with prior notice/intimation
citing reasons thereof
Minimum Balance Rs 200 for non-cheque book account holders
and Rs 500 for cheque book account holders
If the account is self -operated, ceiling of Rs
50,000/- shall be applicable, however, if the
5 Maximum Balance account is operated by parents, ceiling of Rs
50,000/- shall not be insisted. Above 18 years, in
major self-operated account, no maximum
balance ceiling
KYC requirement As applicable to Normal Savings Bank account
7 Nature of operation With/Without Cheque facility
25 Cheque Leaves will be issued free of charge
Free Cheque Book per year, thereaffer standard charges will be
levied.
1 DD free per month for Fees payment,
9 DD (maximum amount of Rs 1lacs)

10 cheque/DDcollection facility Freecollection ofcheque/DD gifted to the child

upto Rs 50,000/- per annum
RTGS/NEFT Free NEFT, if done online.
12 IMPS As per applicable charges.
13 SMSBanking Charge Free
Visa Classic/ Rupay Classic card (issued to
Parent/gUardian) and ATM/Debit card eligible
for minors of agel0 years or more to those who
maintain the prescibed minimum balance and
14
ATM DEBIT CARD/Type of subject to consent byparents/ guardian for issue
ATM/Debitcard of ATM debitcard. after 18 years,customer may
choose higher variant debit card subject to
prescribed minimum balance required for the
specific variant card.

15 ATM Cash Withdrawal Limit Rs. 5,000/- per day up to 18 years,above 18 years
based on cardvariant.
 ATM POS/Ecom Limit
Rs.25,000/- per day, above 18 years based on
16 Card variant.

Issue charge Free, Annual Maintenance

17 Debit Card charges
Charge -As per applicable charges
Rs 22 Lakhs on accidental death of
parent/guardian operating the account (by
18 Insurance cover on debit card RUPay]. As per the terms &conditions of NPC, at
present Debit Card will be eligible for Rupay
Insurance Program only if it is being used in
POS/Ecom transaction once in 30 days
19 Free Access to own Bank ATM 5 transactions (financial+ non-financial) per
month.
3 transactions (financial + non-financial) per
20 Free Access to other bank ATM month at Metro or 5 transactions (financial +
non-financial) per month at other centres.
Conversion of Account into After the child attains majority (18 years of age),
21 the account can be converted to regular SB
normal SB
deposit.
22 Nomination Available

23 Internet banking Internet Banking facility available, subject to min

age of account holder is 10years.
24 Mobile Banking Mobile Banking facility available, subject to min.
age of accountholder is 10 years.
25 Passbook/Statement Passbook will be provided.
26 Charges for Non-Maintenance
balance As per regular SB account

27 Sweep in sweep out facility. No Flexideposit facility

/Flexi Facility
28
Registration and Execution of
Free
SBanding Instructions

Sukanya Samridhi - For girl child Sukanya

Samridhi can be opened with us with standing
instruction for monthly credit.
Recurring Deposit-RD can be opened and
29 Investment options funded with a simple standinginstruction from
this SB account.
Systematic Investment Plan-Invest smallamounts
at regular interval to get a corpus at the time of
need.