Indian Overseas Bank Unveils Ultra HNI Savings Scheme with Premium Benefits

Indian Overseas Bank (IOB), based in Chennai, has introduced a premium Ultra HNI Savings Bank Scheme tailored for high-net-worth individuals (HNIs). This special banking initiative includes 3 variants – IOB SB PRIME, IOB SB PRIORITY, and IOB SB PRIVILEGE, each offering unique benefits designed to meet the financial needs of affluent customers.

Key Features and Benefits

Comprehensive Insurance and Relationship Management

• Personal Accident Insurance (PAI) – Coverage up to ₹1.10 crore for financial security.
• Dedicated Relationship Manager – Personalised financial guidance and support.

Convenience and Banking Privileges

• Doorstep Banking – Unlimited services at your home through dedicated service providers.
• Exclusive Lounge Access – Free domestic and international airport lounge entry via RuPay Select Debit Card.
• Unlimited Free Transactions – NEFT, RTGS, IMPS, and SME alerts at no extra cost.

Loan and Credit Card Benefits

• Loan Processing Fee Waiver – 100% discount on processing charges for home and vehicle loans.
• Premium Debit Cards – Free issuance and maintenance of high-end VISA and RuPay debit cards.
• Credit Card Perks – No charges for issuance, renewal, or annual maintenance of credit cards.

Locker and Banking Services

• Locker Rent Discounts – Up to 75% concession on locker rent.
• Free Banking Services – Complimentary cheque books, demand drafts, and locker operations.

IOB’s Vision for Premium Banking

Ajay Kumar Srivastava, MD & CEO of IOB, highlighted the importance of the new scheme, stating, “With the rising number of HNIs in India, we understand the demand for personalised financial services, premium benefits, and hassle-free banking. The Ultra HNI Savings Scheme is our commitment to delivering a superior banking experience with exclusive privileges.”

With its enhanced features, IOB’s Ultra HNI Savings Scheme aims to redefine elite banking, offering unmatched convenience, security, and financial advantages for high-net-worth customers.

Share Price Movement

On March 10, at 11:42 AM IST, Indian Overseas Bank share price was trading at ₹44.30, down 0.83%. The stock opened at ₹44.68, reached a high of ₹45.02, and a low of ₹44.07. The bank has a market capitalisation of ₹83.74K crore and a P/E ratio of 26.89. Over the past 52 weeks, the stock has hit a high of ₹75.55 and a low of ₹40.52.

Conclusion

With its tailored financial services, exclusive privileges, and seamless banking experience, IOB’s Ultra HNI Savings Scheme sets a new benchmark in elite banking for high-net-worth individuals.

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