Chapter 1

A
INTERNSHIP REPORT
ON
BANKING PRODUCTS AND

GOVERNMENT SCHEMES
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A
TABLE OF CONTENTS
S.NO CHAPTER PAGE.NO
1. INDIAN BANK PROFILE 2- 15
2. DEPOSIT PRODUCTS 16 -29
3. E – KYC VERIFICATION 30 - 35
4. DIGITAL PRODUCTS 36- 52
5. LOAN PRODUCTS 53- 76
6. GOVERNMENT SCHEMES 77-- 84
7. CONCLUSION 85-86
8. ANNEXURE 87-92
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A
CHAPTER I
INDIAN BANK PROFILE
2
Indian Bank Profile
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1. Introduction
As per the Reserve Bank of India (RBI), India’s banking sector is sufficiently capitalised and well-
regulated. The financial and economic conditions in the country are far superior to any other country in
the world. Credit, market, and liquidity risk studies suggest that Indian banks are generally resilient and
have withstood the global downturn well.
The Indian banking industry has recently witnessed the rollout of innovative banking models like
payments and small finance banks. In recent years India has also focused on increasing its banking sector
reach, through various schemes like the Pradhan Mantri Jan Dhan Yojana and Post payment banks.
Schemes like these coupled with major banking sector reforms like digital payments, neo-banking, a rise
of Indian NBFCs and fintech have significantly enhanced India’s financial inclusion and helped fuel the
credit cycle in the country.
The digital payments system in India has evolved the most among 25 countries with India’s Immediate
Payment Service (IMPS) being the only system at level five in the Faster Payments Innovation Index
(FPII). * India’s Unified Payments Interface (UPI) has also revolutionized real-time payments and strived
to increase its global reach in recent years.
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A
Source: https://www.ibef.org/
4
The Indian banking system consists of 12 public sector banks, 22 private sector banks, 46 foreign banks,
Arural banks, 1485 urban cooperative banks and 96,000 rural cooperative banks in addition to
56 regional
cooperative credit institutions As of September 2021, the total number of ATMs in India reached 213,145
out of which 47.5% are in rural and semi urban areas.
In 2020-2022, banks assets across sectors increased. Total assets across the banking sector (including
public and private sector banks) increased to US$ 2.67 trillion in 2022.
In 2022, total assets in the public and private banking sectors were US$ 1,594.51 billion and US$ 925.05
billion, respectively.
During FY16-FY22, bank credit increased at a CAGR of 0.62%. As of FY22, total credit extended surged
to US$ 1,532.31 billion. During FY16-FY22, deposits grew at a CAGR of 10.92% and reached US$ 2.12
trillion by FY22. Bank deposits stood at Rs. 173.70 trillion (US$ 2.12 trillion) as of November 4, 2022.
According to India Ratings & Research (Ind-Ra), credit growth is expected to hit 10% in 2022-23 which
will be a double-digit growth in eight years. As of November 4, 2022 bank credit stood at Rs. 129.26 lakh
crore (US$ 1,585.09 billion).
As of November 4, 2022 credit to non-food industries stood at Rs. 128.87 lakh crore (US$ 1.58 trillion).
5
Source: https://www.ibef.org/
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2. Nationalization of Banks in India
Nationalization of Banks in India the Indian banking system is divided into commercial banks,
cooperative banks, regional banks, etc. In commercial banks, there are two types of banks, public banks,
and private banks. The important event in the history of Indian banks is the nationalization of banks. This
made the way for India to become the leading economies of the world. There were many banks which
were a success and continue to lead. These were Allahabad bank, Bank of India, Punjab national bank,
etc. Thus, the main event during this time was the merger of banks. Bank of Madras, Bank of Bombay,
and Bank of Bengal were merged. Later, it was named as the reserve bank of India. The second phase is
broadly known as the nationalization of banks in India. Thus, considering the economic planning, this
phase was the foundation for today’s economic condition. The third phase was marked by the
development of banks. This was due to the liberalization of economic policies. Many large and private
banks came into the picture during this time.
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2.1. The Nationalized Banks
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The first bank in India to be nationalized was the Reserve Bank of India which happened in January
1949. Further, 14 other banks were nationalized in July 1969. Bank of India, PNB, and many others
were part of this nationalization. While the next phase of nationalization saw 6 other commercial banks
were nationalized in 1980. These included Vijaya bank, a new bank of India, Corporation Bank, and
others. The needs for the nationalization of banks arose due to many reasons. These were catering to the
needs of big business houses and large industries. Further, sectors such as exports, agriculture, and the
small-scale industries were lagging. The moneylenders used to export the poor masses in India. These
all were taken into consideration during the nationalization of banks. Also, for a rural section of India,
the regional rural banks (RRBs) were formed. The objective was to serve large masses of the unreserved
rural population. Further, the specific requirements of sectors like 7 foreign trade, housing, and
agriculture were met. This was met by establishing NABARD, NHB, SIDBI, and EXIM.
BANKS HEADQAUTER TAG LINE

PUNJAB NATIONAL BANK NEW DELHI THE NAME YOU CAN BANK UPON
INDIAN BANK CHENNAI YOUR TECH- FRIENDLY BANK
STATE BANK OF INDIA MUBMAI WITH YOU ALL THE WAY, PURE BANKING
NOTHING ELSE, THE NATION’S BANK ON US
CANARA BANK BANGLORE TOGETHER WE CAN
UNION BANK OF INDIA MUMBAI GOOD PEOPLE TO BANK WITH

INDIAN OVERSEAS BANK CHENNAI GOOD PEOPLE TO GROW WITH
UCO BANK KOLKATA HONOURS YOUR TRUST
BANK OF MAHARASHTRA PUNE ONE FAMILY ONE BANK
PUNJAB AND SIND BANK RAJENDRA PLACE, NEW WHERE SERVICE IS A WAY OF LIFE
DELHI
BANK OF INDIA MUMBAI RELATIONSHIPS BEYOND BANKING
CENTRAL BANK OF INDIA MUMBAI CENTRAL TO YOU SINCE 1911, BUILD A

BETTER LIFE AROUND US
BANK OF BARODA GUJARAT INDIA’S INTERNATIONAL BANK
3. Reserve Bank of India present rates
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CASH RESERVE RATIO (CRR) 4.50%
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STATUTORY LIQUIDITY RATIO (SLR) 18.00%
POLICY REPO RATE 6.50%
STANDING DEPOSIT FACILITY RATE 6.25%
MARGINAL STANDING FACILITY RATE 6.75%
BANK RATE 6.75%
FIXED REVERSE REPO RATE 3.35%
Source : https://www.rbi.org.in/
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4. Indian Bank
4.1.
A Introduction about Indian Bank
Indian Bank is an Indian state-owned financial services company established in 1907 and headquartered
in Chennai, India. It has 39,734 employees, 54744 branches with 5428 ATMs and cash deposit machines
and is one of the top-performing public sector banks in India. In Chennai, it has 144 Branches. Total
business of the bank has touched ₹1,010,000 crore (US$130 billion) as on 31 March 2022. Bank's
Information Systems & Security processes certified with ISO27001:2013 standard and is among very few
Banks certified worldwide. It has overseas branches in Colombo and Singapore including a Foreign
Currency Banking Unit at Colombo and Jaffna. It has 227 Overseas Correspondent banks in 75 countries.
As per the announcement made by the Hon Finance Minister Smt. Nirmala Seetharaman on 30/08/2019,
Allahabad Bank merged from 01/04/2020 making Indian Bank now the seventh largest Bank in the
country.
4.2. Branch Network
Domestic branches: 5770

Overseas branches: 3 & IBU: 1hfft
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4.3. History
A 4.3.1. Early Formation and Expansion
➢ In the last quarter of 1906, Madras (now Chennai) was hit by the worst financial crisis the city was
ever to suffer.
➢ Of the three best-known British commercial names in 19th century Madras, one crashed a second had
to be resurrected by a distress sale, and the third had to be bailed out by a benevolent benefactor.
Arbuthnot & Co, which failed, was considered the soundest of the three.
➢ Parry's (now EID Parry), may have been the earliest of them and Binny and Co.'s founders may have
had the oldest associations with Madras, but it was Arbuthnot, established in 1810, that was the city's
strongest commercial organisation in the 19th Century.
➢ A key figure in the bankruptcy case for Arbuthnot's was the Madras lawyer, V. Krishnaswamy Iyer
who founded the Indian bank which was an offshoot of nationalistic 12 fervour and the Swadeshi
movement when the then British Arbuthnot Bank collapsed, and the Indian Bank emerged.
➢ Mr V. Krishnaswamy Iyer solicited the support of the Nagar Athar Chettyar authored by Mr Ramasamy
Chettiar, who was Annamalai Chettiar's elder brother.
➢ Sri V. Krishnaswamy Iyer and Mr Ramasamy Chettiar were one of the first directors of Indian Bank.
Later on, in 1915, Mr Annamalai Chettiar was inducted into the board of the Indian Bank.
➢ It commenced operations on 15 August 1907 with its head office in Parry's Building, Parry Corner,
Madras.
➢ In 1932 IB opened a branch in Colombo. It opened its second branch in Ceylon in 1935 at Jaffna but
closed it in 1939. IB next opened a branch in Rangoon, Burma, in late 1940.
➢ Then in late 1941 IB opened branches in Singapore, Kuala Lumpur, Ipoh, and Penang. The exigencies
of war forced IB to close its Singapore and Malayan branches with months. The closing of the Singapore
branch resulted in little loss to IB the loss of the branches in Malaya was much more costly.
➢ World War II resulted in further financial problems for IB and it was forced in 1942 to close a number
of its branches in India, and also its branch in Colombo.
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4.3.2. Board of directors
A
S.no Name
1. Shri Santi Lal Jain

MD & CEO
2. Shri Imran Amin Siddiqui

Executive Director
3. Shri Ashwani Kumar

Executive Director
4. Shri Mahesh Kumar Bajaj

Executive Director
5. Dr. Maruthi Prasad Tangirala

Government Nominee Director
6. Dr. Aditya Gaiha

RBI Nominee Director
7. Dr. Bharath Krishna Sankar

Shareholder Director
8. Ms. Papia Sengupta

Shareholder Director
9. Shri Balmukund Sahay

Part-time Non-Official Director
10. Shri Vishvesh Kumar Goel

Part-time Non-Official Director
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4.3.3. Bank Hierarchy
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Chairman And Managing Director
Executive Director
Chief General Manager
Top Executive (Only in advanced banks) Scale VIII
General Manager Scale VII
Deputy General Manager Scale VI
Assitant General Manager Scale V
Divisional Manager /Chief Manager Scale IV
Senior Manager Scale III
Manager Scale II
Officer Scale I
Clerk Scale 0
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4.3.4. Branch Information
A
Branch Name E.R.A. PURAM
Branch Manager DEVI LATHA PADMANABHAN S P.
Address CSM Plaza,Old No-45, New No-34,, Venkatakrishna Road,

Mandavelipakkam
District CHENNAI
State TAMIL NADU
Pin code 600028
IFSC IDIB000E001
MICR Code 600019014
Working Hours 10:00 AM To 03:30 PM
Non-Working Sundays, Public Holidays, 2nd and 4th Saturday Of Every Month
Days
Classification METRO
Phone Number 044-24938454
Email Address erapuram@indianbank.co.in
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4.3.5. Key Milestones
A Founded at Allahabad
1865, April
• The Bank was founded at the confluence city of Allahabad by a group of Europeans.
1920 P&O Operations
• The Bank became a part of P&O Banking Corporation’s group with a bid price of Rs..436
per share
1923 Moved to Calcutta
• The Head Office of the Bank shifted to Calcutta on Business considerations
1969, Jul Nationalized
• Nationalized along with 13 other banks, Branches – 151 Deposits – Rs.119 crores,
Advances – Rs.82 crores
1989, Oct Merger
• United Industrial Bank Ltd. merged with Allahabad Bank
1991 Merger
• Instituted AllBank Finance Ltd., a wholly owned subsidiary for Merchant Banking
2002 IPO
• The Bank came out with Initial Public Offer (IPO), of 10 crores share of face value Rs.10
each, reducing Government shareholding to 71.16%.
2005, Apr FPO
• Follow on Public Offer (FPO) of 10 crores equity shares of face value Rs.10 each with a
premium of Rs.72, reducing Government shareholding to 55.23%.
2006, Jun Shenze, China
• The Bank Transcended beyond the National Boundary, opening Representative Office at
Shenzen, China
2006, Oct CBS
• Rolled out first Branch under Central Banking Solution
2007, Feb Hongkong
• The Bank opened its first overseas branch at Hong Kong
2007, Mar Business growth
• Bank’s business crossed Rs.1,00,000 crores mark
2010, Mar Growth rate
• Bank crosses Business figure of Rs.1,75,000/- crore with a growth rate of 23.06%
2010, Mar Branch networks
• Bank crosses its network of 2500 branches
2012 CBS @ all Branches
• Bank has implemented Central Banking Solution in all its Branches
2013 Orbit of Large banks
• Bank crosses bench mark business figure Rs.3,00,000/- crore and enters in “Orbit of Large
Banks”
2014, April 150 years
• Bank celebrates 150 years of foundation
2020, Apr Amalgamation
• Banks amalgamated into Indian Bank
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4.3.6. Announcement of Bank Mergers by Hon’ble FM – 30.08.2019
A
On 30th August 2019, a landmark development, once again, changed the face of Indian Banking
Industry.
To boost the Indian Economy and strengthen the backbone of banking, to perform and outshine
on global parameters, the Finance Ministry announced amalgamation of 10 public sector banks
into 4 big banks.
As part of this exercise, Allahabad Bank is amalgamated into Indian Bank with effect from 01.04.2020.
This amalgamated entity brings the best of both the Banks and is presently, the 7th largest public
sector bank in the country.
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A
CHAPTER 2
DEPOSIT PRODUCTS
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5. Deposit Products
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•IB CORP SB – Payroll package scheme for salaried class

•IB Smart Kid
•SB Platinum – Savings Bank Platinum Account with
Sweep facility
•IB – Sammaan
•IB Mahila Shakti For Women
•IB Kishore – Savings Bank Account for Minors
•IB Gen X – For the Vibrant Youth
•IB Salaam – Special Account for Defence Personnel
•Savings Bank Account for Pensioners
Savings Bank •IB DIGI – Online SB A/C
A/c •BSBDA AND SMALL ACCOUNT
•SB for students under govt scholarship & SB for DBT
•SB FOR CENTRAL / STATE GOVERNMENT /
CONSULAR OFFICES & IND PFMS
•Capital Gains SB account
•Customer On-Boarding using TAB
•New SB Product for Salaried Customers IND SALARY
SURAKSHA
•IND Corp SB – Elite” Payroll package scheme for
Salaried Class with bundled Group Personal Accidental
Insurance (PAI)
•IB i-Freedom Current Account

•Premium Current Account
Current A/C •IB –COMFORT- DOMESTIC AND NRE
•CA FOR STATE /CENTRAL GOVT & CONSULAR &
IND PFMS
•IB RERA Current Account
•Capital gains
•Recurring Deposit
•IB Tax Saver Scheme
•Money multiplier Deposits
•Fixed Deposit
Term •Variable Recurring Deposit
Deposits •Short Term Deposits
•Motor Accident Claim Tribunal Deposit(MACAD) Scheme
•IB Golden Ager – Term Deposit Product for Super Senior
Citizens
•IND Non-Callable Deposit
•IND SHAKTI 555 DAYS
•IND SUPER 400 DAYS
NRI A/cs
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5.1. Savings Bank A/C
Introduction
 As per the definition of RBI, "Savings deposits" means a form of interest-bearing demand deposit
which is a deposit account whether designated as "Savings Account", "Savings Bank Account",
"Savings Deposit Account", "Basic Savings Bank Deposit Account (BSBDA)" or other account
by whatever name called which is subject to restrictions as to the number of withdrawals as also
the amounts of withdrawals permitted by the Bank during any specified period;
 Savings Bank Account is the most common type of account in a bank which caters to the needs
of almost all sections of customers. The terms 'Savings Bank Account', 'Savings Deposit
Accounts' and 'Savings Accounts' are used synonymously. Rules governing savings accounts are
given.
 A Savings Bank account can be opened by any individual in his/her name, two or more persons
in their join names, organizations, Agricultural produce market committees, SHGs etc.
Procedure for opening Savings Bank account
 KYC Procedures
 The prospective account holder should be properly identified as per KYC norms. For detailed
guidelines on Know Your Customer procedures.
 Customers who for any reason cannot fulfil the required KYC guidelines may also be allowed to
open Small Account, Accounts with introduction. These accounts are subject to certain restrictions
in transactions. For detailed guidelines regarding these accounts.
 Application Form
 The application form should be obtained duly signed by the prospective account holders. The
details to be obtained in the application form are given in Chapter 4 of this manual and the
instructions given therein should be followed. The opening of the account should be authorised
by the Branch Manager / Assistant Branch Manager or any officer permitted by Corporate Office
for this purpose (Refer Chapter 1). Two copies of photographs of the depositors/persons authorised
to operate the account should be obtained.
 The account opening forms and other material would be provided to the prospective depositor by
the Bank. The same will contain details of information to be furnished and documents to be
produced for verification and for record. It is expected of the Bank official opening the account,
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to explain the procedural formalities and provide necessary clarifications sought by the
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prospective depositor.
 Additionally, prospective depositor would be provided with "MITC" (Most Important Terms &
Conditions) on the product which inter-alia would contain the following when he approaches for
opening a deposit account. I. Information regarding number of transactions, cash withdrawals etc.,
that can be done free of charge within a given period; ii. Information about the kind of charges, if
any, in case of exceeding such limits in the form of a tariff schedule; iii. Information on the rate
at which interest is paid on savings deposits and its periodicity. iv. Minimum balance to be
maintained and penalty for non-maintenance thereof v. Other charges like cheque book issue
charges, ATM/debit cards etc.
 Initial Deposit
 Normally the initial deposit for opening an account should be in cash. Opening of an account by
cheque should be avoided.
 Minimum Balance
The following minimum balances are prescribed for SB accounts
 SB Account with Cheque Facility - 1000

 SB Account without Cheque Facility - 500
 In case of pensioners, Students with Bonafede certificate, there is no minimum

balance stipulated for the following SB accounts:
 SB account with Cheque Facility - Pensioner NIL
 SB account without Cheque Facility - Pensioner NIL
 SB account without Cheque Facility - Student NIL
 Opening of Accounts
 After the account is opened in the system initial deposit is to be made by the customer.
Customised Savings Bank Products
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The following customised Savings Bank products have been introduced to provide value additions for
A
customer retention. The salient features of the products are given below:
 "SB Platinum with Sweep Facility" (CBS Code - 2111-1601)

 Under this scheme, the Savings Bank account holder has to maintain a minimum monthly average
balance of `.25000 with a Threshold limit `.50,000/- (i.e., Sweep would be affected only when the
balance exceeds `.50,000/-)
 Special Benefits
 Free Life insurance cover for `.1.00 Lac (IB Jeevan Kalyan) is also available for those in the age
group of 15 to 45 who open this SB account and free Personal Accident Insurance cover (IB
Chhatra) for `.1.00 lac for the age group of 12 to 70 years.
 Free remittance up to maximum 2 times per year totalling`.25000
 IB Smart Kid SB a/c (for children of age 1 day to less than 18 years)
 A Savings Bank Account for Children of age 1 day to less than 18 years.
 Average Monthly Balance: `.100/- average monthly balance for non-cheque book operated SB
accounts and `.250/- average monthly balance for cheque operated SB accounts. An amount of
`.30/- per month will be charged in case of non-maintenance of minimum monthly average
balance.
 Other Benefits
 ATM / Debit card eligible for minors of age 10 years or more to those who maintain the prescribed
minimum balance and subject to consent by parents / guardian for issue of ATM debit card.
 Internet Banking subject to consent by parents / guardian for using Internet facilities, Add-on-
facility- Remittance by DD/BPO of school / college fees at par.
 Transfer of funds from parents / guardians account to the children's account allowed at par.
 SB for Students Crediting Scholarship amount under Government Schemes

Eligibility
Student beneficiaries under various Central/ State Government Scholarship Schemes
 Salient Features
 Mode of withdrawal through withdrawal slips only accompanied by pass book
 No limits for the credits.
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 Stipulation regarding inoperative/dormant account due to non-operation does not apply for this
A
category
 Minimum Amount
 No initial/minimum balance required.
 Maximum Amount
 No Limit
 Non - Maintenance of minimum Balance a NIL
 Interest rates a Quarterly from 30.04.2016 on a daily product basis @ 3.5% p.a.
 “IB – DIGI” - ONLINE SAVINGS BANK ACCOUNT

‘IB- DIGI” - Online Savings Bank Account opening facility through Bank’s website /Mobile App
using Aadhaar Based OTP aimed at mobilizing the accounts of tech savvy customers and provide
them the experience of convenient, secured, anywhere and anytime banking.
 Savings Bank Account for senior citizens – IB – Sammaan
Name of Savings Bank Account IB – SAMMAAN

Product Name SBCHQ-IB SAMMAAN-SR CITIZEN-
INR
Product Code 2179-2101
Monthly Average Balance NIL
Type of customers Resident Individuals aged over 60 years
Mode of operation Either singly or jointly; however, the first
account holder must be a senior citizen.
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 IB - Surabhi - Savings Bank Account - only for HER
A
Product Features IB SURABHI - REGULAR IB SURABHI - PREMIUM
Product Code 2190-1101 2190-1111
Target Customers Working women / Home Working women / Home maker
maker exclusively or as the exclusively or as the First account Holder
First account Holder with with Spouse / Daughter / Son age >18
Spouse / Daughter / Son age years
>18 years
KYC Requirement As applicable to SB accounts As applicable to SB accounts
Initial Deposit NIL NIL
Nature of Nature of Operation Cheque Nature of Operation Cheque only
Operation only
Average Monthly 10,000/- 25,000/-
Minimum Balance
Charges for Non- If shortfall in average monthly If shortfall in average monthly minimum
Maintenance of minimum balance is balance is
Minimum Balance 76% - 100% - 100/- pm 76% - 100% - 100/- pm
51% - 75% - 75/- pm 51% - 75% - 75/- pm
26% - 50% - 50/- pm 26% - 50% - 50/- pm
11% - 25% - 25/- pm 11% - 25% - 25/- pm
1% - 10% - 10/- pm 1% - 10% - 10/- pm
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5.2. CURRENT ACCOUNT
A
INTRODUCTION
Current Account is a form of demand deposit wherefrom withdrawals are allowed any number of times
depending upon the balance in the account or up to a particular agreed amount. Current account especially
caters to the needs of businesspeople who make extensive use of the cheque facility and also receive
cheques in their favour from others. There is, however, no restriction that only businesspeople should
open current accounts.
Who can open:
 A person in his/her name

 Two or more persons in their joint names
 Companies, Partnership Firms, Clubs, Associations, Religious, Educational, Charitable and
other Institutions on production of the necessary documents, copies of rules, bye-laws etc.,
duly attested by authorised persons.
Procedure for Opening Account
 Common Application form for individuals / non individuals (all types of entities) is provided
in the Intranet > Downloads. Branch shall ensure that in the non-individual opening form the
correct constitution type is entered by the applicant and related KYC is obtained.
 The prospective account holder should be required to fill up and sign the prescribed application
form. Additional documents wherever necessary should be obtained.
 At the time of opening of current accounts, the branch should insist on a declaration from the
account holder to the effect that he is not enjoying any credit facility with any other bank or
branch of our Bank or obtain a declaration giving particulars of credit facilities enjoyed by the
intending customers with any other bank(s)/branches.
 Adherence to KYC Norms
 Initial Deposit. The initial deposit for opening accounts should preferably be in cash.
 Opening the account
 After the account is opened in the system, using either the existing CIF or by creating a new
CIF, initial deposit is paid to the credit of the newly opened current account.
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5.3. Term Deposit Account
A
Introduction
Term Deposit is a deposit received by the Bank for a fixed period which is withdrawable only after the
expiry of the said fixed period and shall include deposits such as Recurring, Fixed, Money multiplier and
so on.
Interest Application
 Method and Periodicity of calculation of interest is same as that of ordinary SB account / Term
deposit accounts
Salient Features
 Under this Scheme the tax payers can avail of the benefit of exemption from capital gains only if
the amount of capital gains or the net consideration is deposited in Public Sector Banks on or
before their due date of filing a return of income in accordance with the scheme.
Min Amount
 Minimum amount is Rs. 1000/-
 Accounts offered in two types
 Deposit a/c A & Deposit a/c B
 Deposit A in the form of Savings Bank and Deposit B in the form of Term deposit (as cumulative
or non-cumulative)
Min Period
 Minimum 7 days
 Maximum – 3 years
Other Requirements/Details
 All branches except rural branches are authorized to accept deposits under the scheme. Tax payers
can avail the benefit of exemption under Section 54 (B, D, F & G as the case may be) of Income
Tax Act 1961. Nomination facility is available. Withdrawal is permitted as per rules. Interest
Payments are subject to TDS.
 No additional rate provided for staff / senior citizens
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5.4. Recurring Deposits
A
 Interest Application
 Quarterly compounding
 A regular monthly savings grows into a large sum to meet the financial needs at the end of the
agreed period
 Min Amt
 Monthly instalment Rs.100 and in multiples thereof
 Min Period
 Minimum 6 months
In multiples of 3 months with a maximum of normally 10 years
 Other Requirements/Details
 Loan, Foreclosure, Nomination facilities are available. TDS applicable

 Senior Citizens are eligible for additional rate of 0.50% p.a for an aggregate amount up to Rs.10
crore.
 However, no single deposit to be opened in a day for more than Rs 2 Cr within the overall limit
of Rs 10 Cr tagged to a single CIF.
 The above ceiling is applicable to all types of term deposits standing in the name of the Senior
Citizen as the principal account holder at one or more branches put together.
 Penalty on foreclosure of term deposit.
 Money Multiplier Deposits
 Min Amt
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 Minimum amount – Rs.1000/- and in multiples of Rs.100/-
A
 No maximum amount
 Min Period
 Minimum- 6 months.
 Maximum normally- 10 years
 Automatic renewal facility for equal period.

 Loan/nomination/pre closure facility available.
 Penalty on foreclosure of Deposit is applicable.
 Senior Citizens eligible for additional rate of 0.50% p.a for an aggregate amount up to
Rs.10 crore.
 However, no Single deposit to be opened in a day for more than Rs 2 Cr within the overall
limit of Rs 10 Cr tagged to a single CIF.
 The above ceiling is applicable to all types of term deposits standing in the name of the
Senior Citizen as the principal account holder at one or more branches put together.
5.5. Fixed Deposit
 quarterly or monthly basis with a discount
 A time deposit for a fixed period to earn interest with easy liquidity
 Min Amt
 Minimum Deposit- Rs.1000/-
 Max Amt
 No Maximum
 Min Period
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 Minimum 6 months, Maximum 10 years
A Senior Citizens are eligible for additional rate of 0.50% p.a for an aggregate amount up to
Rs.10 crore.
 However, no single deposit to be opened in a day for more than Rs 2 Cr within the overall
Senior Citizen as the principal account holder at one or more branches put together.
 Automatic renewal facility for equal period

 Loan / nomination /pre closure facilities available.
 Money Multiplier
 Min Amt
 Minimum amount – Rs.1000/- and in multiples of Rs.100/-
 No maximum amount
 Min Period
 Minimum- 6 months.
 Maximum normally- 10 years
 Automatic renewal facility for equal period.

 Loan/nomination/pre closure facility available.
 Penalty on foreclosure of Deposit is applicable.
 Senior Citizens eligible for additional rate of 0.50% p.a for an aggregate amount up to
Rs.10 crore.
 However, no Single deposit to be opened in a day for more than Rs 2 Cr within the overall
27
A Senior Citizen as the principal account holder at one or more branches put together.
5.6. Variable Recurring Deposit
 A recurring deposit scheme with the option of varying the monthly instalments is called
the Variable Recurring deposit scheme
 Min Amt
 Initial deposit Rs.500 or in multiples of Rs.100 up to a maximum of Rs. 1 lakh

 Can vary subsequent monthly instalment subject to a maximum of Rs. 10 lakhs per month.
 Min Period
 Minimum period – 36 months and the maximum period – 36 months
 Other Requirements/Details
 Loan, nomination, and foreclosure facilities.

 No penal interest on delayed payment of instalments
 Interest will be paid on the minimum balance between 10th and last day of the month. TDS
applicable.
 Senior Citizens are eligible for additional rate of 0.50% p.a for an aggregate amount up to
Rs. 10 crores. The above ceiling is applicable to all types of term deposits standing in the
name of the Senior Citizen as the principal account holder at one or more branches put
together.
 Penalty on Foreclosure of Term Deposit.
5.7. IND SHAKTI 555 DAYS
In rising deposit interest rate regime among peer banks, and to continue the Bank’s intent to pass on the
benefit of recent RBI Policy Rate Changes towards customers & general Public, a fixed maturity term
28
deposit product of 555 days with a special rate of interest having validity up to 31.03.2023 is
beingA
launched w.e.f. 19.12.2022.
This product aims at attracting new retail customers besides helping the Bank for the much-required
organic boost for its retail term deposits portfolio which will play a crucial role in Bank’s long-term vision
and growth.
5.8. IND SUPER 400 DAYS
IND SUPER 400 DAYS Fixed Deposit. Amidst the ups and downs in the market, most people are
turning to fixed deposits and, in this sequence, the competition to make Fixed Deposits in Indian public
sector banks has increased. Earlier senior citizens were given more interest in interest rates and now banks
have started their special fixed deposits to give more interest to women as well
5.9. NRI Accounts

An NRI Account refers to the accounts opened by a Non-Resident Indian (NRI) or a Person of Indian
Origin (PIO) with a bank or financial institution which is authorised by the Reserve Bank of India (RBI),
to provide various services.
Here are the types of NRI Accounts that you can opt for, to meet your financial requirements.
 Non-Resident External (NRE) Accounts
 Non- Resident Ordinary (NRO) Accounts
 Foreign Currency Non-Resident (FCNR) Accounts
29
A
CHAPTER III
E- KYC Verification
30
6. What is KYC?
A
KYC means Know Your Customer and sometimes Know Your Client.
KYC or KYC check is the mandatory process of identifying and verifying the client's identity when
opening an account and periodically over time.
In other words, banks must make sure that their clients are genuinely who they claim to be.
Banks may refuse to open an account or halt a business relationship if the client fails to meet minimum
KYC requirements.
The Know Your Client (KYC) rule is an ethical requirement for those in the securities industry dealing
with customers during the opening and ongoing maintenance of accounts.
It is implemented at the onset of the customer-broker relationship to establish the essential personal
profile of each customer before any financial recommendations are made. The customer is also made
aware of the need to comply with all the laws, regulations, and rules of the securities industry.
1. KYC Requirements
 Customer Identification Program
 CIP requires that financial firms must obtain four pieces of identifying information about a client,
including name, date of birth, address, and identification number.
 Customer Due Diligence

 CDD is a process in which all of a customer’s credentials are collected to verify their identity
and evaluate their risk profile for suspicious account activity.
 Enhanced Due Diligence

 EDD is used for customers that are at a higher risk of infiltration, terrorism financing, or money
laundering and additional information collection is often necessary.
31
7. KYC Compliance
A
Two rules governing KYC include Financial Industry Regulatory Authority (FINRA) Rule 2090 (Know
Your Customer) and FINRA Rule 2111 (Suitability).
FINRA Rule 2090 states that every broker-dealer uses reasonable effort when opening and maintaining
client accounts and are required to know and keep records on the profile of each customer, as well as
identify each person who has authority to act on the customer’s behalf.
FINRA Rule 2111 notes that a broker-dealer must have a reasonable belief that a recommendation is
suitable for a customer based on the client’s financial situation and needs. This rule assumes that the
broker-dealer has completed a review of the current facts and profile of the customer, including the
customer’s other securities and investments before making any purchase, sale, or exchange of a security
on the client's behalf.
AML and KYC

The U.S. Financial Crimes Enforcement Network (FinCEN) requires both customers and financial
institutions to comply with KYC standards to prevent illegal activity, specifically money laundering.
AML, anti-money laundering, is a term for the range of measures and processes used to achieve
regulatory compliance. KYC is a component of AML.
FinCEN requires financial institutions to understand the type and purpose of the customer relationship
and develop a customer risk profile, used as a baseline for detecting suspicious customer activities.
Financial institutions must also maintain current and accurate customer information and continue to
monitor accounts for suspicious and illegal activities. When detected, they are required to promptly
report their findings.
32
8. Know Your Customer (KYC) Guidelines
A
The objective of KYC / AML / CFT guidelines are -
 to prevent Banks from being used, intentionally or unintentionally, by criminal
elements for money laundering or terrorist financing activities, and
 to enable banks to know / understand their customers and their financial
dealings better, which in turn, help them manage their risks prudently.
 Know Your Customer is the principle on which the banking system operates to
avoid the pitfalls of operational, legal and reputation risks and consequential losses by
scrupulously adhering to the various procedures laid down for opening and conduct of
accounts.
33
9. Definition of Customer
A
For the purpose of KYC policy, a ‘Customer’ is defined as:
 A person or entity that maintains an account and/or has a business relationship with the Bank.
 One on whose behalf the account is maintained (i.e., the beneficial owner).
 Beneficiaries of transactions conducted by professional intermediaries, such as Stock Brokers,
Chartered Accountants, Solicitors etc. as permitted under the law, and,
 Any person or entity connected with a financial transaction which can pose significant
reputational or other risks to the Banks, say, a wire transfer or issue of a high value demand draft
as a single transaction.
10. Customer Identification Procedures
 Parameters of risk perception: ‘Customer risk’ in the present context refers to the money
laundering and terrorist funding risk associated with a particular customer from a bank’s
perspective. This risk is based on the risk perceptions associated with the parameters comprising
a customer’s profile, and the level of risk associated with the product and channels being used by
him.
 Customer identification means identifying the customer and verifying his/her identity by using
reliable, independent source of documents, data or information.
 For customers who are natural persons, branches should obtain sufficient
 identification data to verify the Identity of the customer, Address / location, and
 Recent photograph.
 For customers that are legal persons or entities, branches should verify their legal status through
proper and relevant documents.
34
A
35
A
CHAPTER IV
DIGITAL PRODUCTS
36
11. What Is a Debit Card?
A
A debit card is a payment card that deducts money directly from a consumer’s checking account when
it is used. Also called “check cards” or "bank cards," they can be used to buy goods or services; or to get
cash from an automated teller machine or a merchant who'll let you add an extra amount onto a purchase.
 Debit cards eliminate the need to carry cash or physical checks to make purchases, and they can
also be used at ATMs to withdraw cash.

 Debit cards usually have daily purchase limits, meaning it may not be possible to make an
especially large purchase with a debit card.

 Debit card purchases can usually be made with or without a personal identification number (PIN).
 You may be charged an ATM transaction fee if you use your debit card to withdraw cash from
an ATM that's not affiliated with the bank that issued your card.
 Some debit cards offer reward programs, similar to credit card reward programs, such as 1% back
on all purchases.
How a Debit Card Works?

 A debit card is usually a rectangular piece of plastic, resembling any charge card. It is linked to
the user's checking account at a bank or credit union. The amount of money that can be spent
with it is tied to the account size (the amount of funds in the account).
 In a sense, debit cards work as a cross between ATM cards and credit cards. You can use them
to get cash from a bank's automated teller machine, as with the former; or you can make purchases
with them, like the latter. In fact, many financial institutions are replacing their plain vanilla,
single-purpose ATM cards with debit cards that are issued by major card-payment processors
such as Visa or Mastercard. Such debit cards come automatically with your checking account.
 Whether being used to obtain cash or to buy something, the debit card functions in the same way:
It draws the funds immediately from the affiliated account. So, your spending is limited to what’s
available in your checking account, and the exact amount of money you have to spend will
fluctuate from day to day, along with your account balance.
12. Types of Debit Card (With Reference to Indian Bank)
RuPay Card Variants:
37
RuPay Platinum Card (Contact)
A
 Usage limit of Rs.50,000/- in ATM and Rs.1,00,000/- in Point-of-sales
 Insurance Cover for accidental death, airport lounge access and various other offers
RuPay Platinum Card (Contactless)
 Usage limit of Rs.50,000/- in ATM and Rs.1,00,000/- in Point-of-sales
 Airport lounge access, Insurance Cover for accidental death and various other offers.
 Facility of contactless POS purchases up to Rs.5000/-.
 NCMC (National Common Mobility Card) supported wallet for offline transactions (Tap & Go).
38
Rupay International Platinum card (Contact)
A
 Usage limit of Rs.100000/- in ATM and Rs.200000/- in Point of sales.
 Insurance Cover for accidental death, airport lounge access and various other offers.
 Airport lounge access and various other offers.
 For International use at Select Countries.
RuPay Debit Select Card (Contactless)
 Usage limit of Rs.50,000/- in ATM and Rs.1,00,000/- in POS.
 Joining benefits and Milestone based benefits
 In built Insurance Cover of up to Rs.10 Lakhs
39
 Higher transaction limits.
A
Airport lounge access and various other offers.
Rupay classic contactless Card (NCMC)
 Usage limit of Rs.25000/- in ATM and Rs.25000/- in POS.
IB DIGI – RuPay Classic Card
40
 RuPay debit cards issued for IB DIGI accounts opened through our website and IB Customer
A
Mobile App
 Usage limit of Rs.10,000/- in ATM and Rs.10,000/- in Point-of-sales
Senior Citizen Debit Card (Contact)
 Special Debit Card for senior citizen customers with photo, blood group and Date of Birth affixed
on the card.
 Usage limit of Rs.25,000/- in ATM and Rs.50,000/- in POS.
PMJDY Card (Pradhan Mantri Jan Dhan Yojana) – Contact
 Rupay card for PMJDY Account Holders
 Usage limit of Rs.25,000/- in ATM and Rs.25,000/-in POS.
 Over Draft in PMJDY accounts enabled for eligible accounts in ATMs.
 Insurance Cover for accidental death.
41
A
RUPAY KISAN CARD (Contactless)
 Rupay Card for Kisan account holders
 Usage limit of Rs.10,000/- in ATM and Rs,15,000/-in Point of Sales.
42
13. MasterCard Variants
A
MasterCard World (Contact)
 International Debit Card with Wide acceptance globally
 Usage limit of Rs.50,000/- in ATMs and Rs.1,00,000/- for Point-of-sales & online purchases
MasterCard World Platinum (Contactless)
 International Debit Card with Wide acceptance globally
 Usage limit of Rs.50,000/- in ATMs and Rs.1,00,000/-in POS & online purchases
43
A
14. Daily Limit on Number of Transactions Permitted on Debit Cards
No Type of Transaction Limit
1 Domestic Other Bank ATM Cash Withdrawal 5 transactions / Day
2 Domestic POS/E-Com transactions 10 transactions / Day
3 International POS/E-Com transactions 5 transactions within 24 Hrs
4 IRCTC Ticket Booking 4 transactions / Day
5 Cash at POS and Purchase with Cashback transactions 3 transactions / Day
15. Smart Facility
IB RUPEE KEY – RuPay On-The-Go Smart Keychain
 Keychain embedded with an NFC chip which connects with the card reader at the point of sale
(POS) devices.
 Customers can make contactless payments of amount up to Rs. 5000 without PIN.
 Faster check outs at POS devices reducing wait in queues.
 Rupay on-the-go keychain will be provided as an add on Card
 Customers can manage the device using Indian Bank mobile banking application.
 Customers can enable/disable the keychain as when needed for making payment.
44
 Customers can set their own limits as per the requirement up to the default limit.
A
Keychain can be blocked immediately if it is stolen/lost.
16. Credit Cards

16.1. What Is a Credit Card?
A credit card is a thin rectangular piece of plastic or metal issued by a bank or financial services company
that allows cardholders to borrow funds with which to pay for goods and services with merchants that
accept cards for payment. Credit cards impose the condition that cardholders pay back the borrowed
money, plus any applicable interest, as well as any additional agreed-upon charges, either in full by the
billing date or over time.
In addition to the standard credit line, the credit card issuer may also grant a separate cash line of
credit (LOC) to cardholders, enabling them to borrow money in the form of cash advances that can be
accessed through bank tellers, ATMs, or credit card convenience checks. Such cash advances typically
have different terms, such as no grace period and higher interest rates, compared with those transactions
that access the main credit line. Issuers customarily present borrowing limits based on an
individual’s credit rating. A vast majority of businesses let the customer make purchases with credit
cards, which remain one of today’s most popular payment methodologies for buying consumer goods
and services.
45
16.2. Types of Credit Cards (With Reference to Indian Bank)
A
IB-VISA-Bharat
A light card for the basic, shopping, travelling, or dining experience.
IB-VISA-Gold
For the finer side of life, with a high spending line, revolving line of credit, emergency card
replacement and cash disbursement services.
46
IB-VISA-Platinum
AFrom golf, to dining, shopping and more. Enjoy a host of attractive lifestyle privileges and
experiences.
IB-VISA-Business
For easy expense management of Corporate/business entity.
IB-VISA- Secured cards
Minimum of Rs.25000 or 100% of the Deposit amount or lesser limit as requested by the customer
by marking lien
47
IB – RuPay – Select
A
A high-end product for the luxury called life!
 IB-RuPAY-Platinum
The world is your oyster with the RuPay Platinum Credit Card by your side.
48
IB-RuPAY-Classic
A
16.3. A credit that brings you great deals and exclusive merchant offers.
Daily Usage Limits
S.No. Card Product ATM Cash POS / E-Com

Limit Purchase Limit Aggregate Limit
1 Bharat/ Classic Card 8000 12000 20000
2 Gold Card 25000 75000 100000
3 Platinum/ Select Card 50000 150000 200000
4 Business Card 50000 300000 350000
49
16.4. IndOASIS App:
A
Financial Services Non-Financial Services
Fund Transfer / Payment Services Savings Account/Current Account/OD/OCC

/ Loan Accounts
 Transfer funds up to Rs.5 Lakhs per day
 Fund Transfer instant/ scheduled Fund transfer  Get balance and other details
to self-accounts / Other Indian Bank  Mini statement (Calendar View)
Accounts/Other Bank Accounts (NEFT 24×7/  Add / Delete nominee
RTGS / IMPS)  Download statement with date and
 Instant transfer of funds through Easipay advanced search (Credit only / debit
 Credit to PPF Account only / min and max amount)
 NPS Payment  Transfer of home branch for SB
 Direct Tax Payment account
 Bill Pay / Recharge  Request / Stop Cheque
 UPI – Link accounts and balance enquiry  Open PPF Account
 UPI – Send money, Collect Money, Accept /  Open SB account through Video
Reject Collect Request to/from all bank KYC facility
accounts  Positive payment system
 UPI – Scan and Pay
 UPI 2.0 – Issue Mandate and Apply for shares
 UPI International QR facility, UPI Lite
Term Deposits (FD / MMD / STD/ RD /
 E- Rupi voucher issuance
VRD)
 Cardless Cash withdrawal through ATMs
50
 Open / Close
A  Check balance and other details
 Download Receipt
Account Related Services
 Get Account statement
 Activate statement through e-mail  Add / Delete nominee
 M-Passbook  Add / Modify / Delete Standing
 Transaction History Instruction
 Generate TDS certificate
 Submission of Form 15 G/H
Other Features
 Manage Beneficiary  Apply for loan (Home, Vehicle,

 Request Locker facility Mortgage, MSME)
 Open PPF  Apply for Pre-approved Personal
 View Average Quarterly Balance (AQB)/ Loan (PAPL)
Average Monthly Balance (AMB)  Generate / Cancel MMID
 UDIR facility to raise UPI related complaints  Change Language
 Apply for Credit Card  Raise / Track Complaints
 EMI / Deposit Calculator
 FAQs
 Offers
Shopping And Entertainment Related Services
 Price / Offers comparison for shopping → m-Shopping

 IndAdvantage Rewards for transactions through IndOASIS
Wealth Management Related Services
 Mutual Fund services – Lump sum / SIP investment in mutual funds

 Invest/subscribe to Mutual Funds, IPO, Demat & Trading
 Invest in NPS
 Apply for Arogya Raksha Insurance
 Buy health and motor insurance through M/s. Universal Sompo
 NPS account opening & maintaining
Debit Card Services Security Related Services
51
 Activate new Debit Card  Finger print / face id-based login
A
 Set / Reset PIN facility
 Lock / Unlock transactions  Auto read of OTP
 Enable / disable ATM/POS/e-com/NFC  Scrambled keypad on every login
 Set limit for ATM/POS/e-com/NFC  Change/reset MPIN and MTPIN
 Enable / disable Domestic / International  Forgot Password – MPIN/MTPIN
transactions  Lock / Unlock Mobile banking and
Internet Banking transactions
 Set transaction limits for IMPS,
NEFT, Intra-bank transfer and Bill
Pay/recharge
 Enable / disable biometric login
52
A
CHAPTER V
LOAN PRODUCTS
53
17. Loan Products
A
• Agricultural Godowns / Cold Storage

• Financing Agriculturists for Purchase of Tractors & Other Farm
Machinery
• Agri Clinic and Agri Business Centres
Agricultre • SHG Bank Linkage Programme – Direct Linkage to SHGs
• Kisan Credit Card (KCC)
• Agricultural Jewel Loan Scheme
• SELF HELP GROUP (SHG) – SHAKTI
• B Home Loan Combo

• Reverse Mortgage
• Ind Mortgage
• IB Home Loan
Person/Induvidual • NRI Plot Loan
• Jewel Loan
• Loan for Purchase of “Van / Minibus / Bus / Ambulance” to Institutions /
Firms / PSU / Company / Hospitals
• LOAN AGAINST LEASE RENTALS
• IB Tradewell
• IND SME Secure
• IB MICRO
• IND-SME E-VAAHAN
MSME • IND MSME SAKHI
• ONLINE SHISHU MUDRA Loan
• IND MSME VEHICLE
• IB Doctor Plus
• Corporate credit
• WORKING CAPITAL
Corporate • TERM LOAN
• CORPORATE LOAN
Education • Education Loan Interest Subsidies
54
18. Personal/ Individual
A
18.1. IB Home Loan Combo
Eligibility Individuals including Joint borrowers who have

 Availed the Home Loan from Indian Bank
 Satisfactorily serviced the Home Loan for at least ONE year after the
Holiday Period.
 Created Equitable Mortgage
 Home Loan account repayments are regular and the account is in
Standard Category.
Benefits Under the package the borrower is entitled for any one or more of the
following loans, with concessional interest rate and processing charges
provided he / she is otherwise eligible as per the individual loan products
subject to repayment capacity and other eligibility criteria.
* IB Vehicle Loan (Both 4-wheeler and 2-wheeler) * IB Clean Loan (to
Salaried Class) * IB Pension Loan * IB Home Improve
Applicable Product Concession in Concession in Processing charge.

Interest Rates and Interest rate
Processing charge IB Vehicle 0.50 % from the 50 % on applicable Processing charges
concessions loan applicable card of the respective product.
Salary Loan rate of the
IB Pension respective period
loan.
IB Home NIL 50 % on applicable Processing charges
Improve of the respective product.
Security * The security prescribed for the individual loan products are to be offered *
Equitable Mortgage taken for the Home Loan should be extended to cover
the other loan/s sanctioned under the package.
CERSAI registration (at Applicant’s cost) to be done
Other * All other terms and conditions laid down as per the individual loan
Requirements/Details products should be complied with. * The Home Loan borrowers can avail
any one or more of the above products subject to fulfilling repayment
capacity for servicing existing loan liability/is and the proposed loan
liabilities
55
A
18.2. IB Home Loan
Target Group · Salaried Class

· Businessmen
· Professional & Self-employed
· Pensioners
Entry Age 18 years

Purpose of · Purchase a new house/flat
Loan · Construct a new house/flat (Applicant already owns a plot/land)
· Purchase of house site and construction of house thereon
· Purchase of flat under construction
· Purchase of semi-finished flat/house from the builder and completion of

interiors
· Purchase of a house/flat being resold
· Additional construction in existing house
· Repair/renovate an existing house/flat
· Takeover of Home Loans
· Reimbursement of cost incurred for Purchase/Construction of house/flat
Employment Salaried:
Service/Busi · Regular employees of Central Government / State Government / Public Sector
ness Undertakings /Government or Government aided Educational Institutions with
Experience salary statement from the existing employer for at least previous 3 months.
· Regular employees of MNCs/Reputed Companies (Externally rated as BBB or

above) with salary statement from the existing employer for at least previous 3-
months subject to the condition that they have total experience of minimum 2 years.
Non-Salaried:
· In case of Businessmen, Professional and Self-employed minimum experience

of 3 years
56
Pensioner:
A
· Having adequate income to service the loan
Quantum of Loan will be considered only based on NTHP criteria

Loan · If Gross Annual Income of the applicants is up to Rs.15 lakhs, take home
income should not be less than 40% of the Gross Annual Income
· If Gross Annual Income of the applicants is above Rs.15 lakhs, NTHP should
be minimum Rs.50000 per month
Margin (i) Loan up to Rs.30 lakhs: 10%

(ii) Loan above Rs.30 lakhs to Rs.75 lakhs: 20%
(iii) Loan above Rs.75 lakhs: 25%
In case of (ii) and (iii), margin up to 10% shall be offered with additional ROI of
0.25% over and above the extant rate of interest and subject to other terms &
conditions. This offer is valid up to 31.03.2023
Loan for Repairs & Renovation: 30%
Repayment General Home Loan: Maximum 30 years

Period Takeover or Balance transfer: Repayment period can be extended beyond the
(inclusive of period sanctioned by the original lender subject to a maximum of 30 years including
Holiday the period already run in the existing institution
Period) Home Loan under Commercial Real Estate for Salaried: Maximum 30 years
Home Loan under Commercial Real Estate for Non-salaried: Maximum 25
years
Repairs & Renovation: 10 years
Holiday · Outright purchase of house/flat – NIL
Period · For construction of house on the plot already owned by the applicant –
Maximum 18 months
· Purchase of Plot and construction of house thereof / flat under construction by

promoters / developers – Maximum 24 months
· Flat under construction – in case of bigger projects – Maximum 36 months
· Takeover accounts – NIL
57
The above holiday period will be considered subject to servicing / pre-EMI interest
A and repayment period (inclusive of holiday period) should not exceed 360 months.
Repayment Applicant can avail one of the following repayment options subject to T&C
Type · Equated Monthly Instalment (EMI)
· Progressive Monthly Instalment (PMI)
· Negotiated Repayment
Security Mortgage of Property purchased/constructed out of loan proceeds

Insurance The property financed under the Home Loan should be insured at Borrower’s cost
and the policy has to be kept renewed every year without any time gap.
At the option of the borrower(s), loan may be covered under Group Mortgage
Redemption Assurance Scheme (GMRA)
58
19. Reverse Mortgage
A
Eligibility * Senior Citizens above 60 years, including retired staff of our Bank.
Married couples will be eligible as joint borrowers for financial assistance
provided one of them is above 60 years of age.
* They should be owner of self-acquired residential property with absolute,
clear title / conveyance and self-occupied and it should be principal
residential house / flat, located in India.
* The property should be free from encumbrance and is saleable and the
house / flat to be located in India. However, inherited residential property if
it is devolved on partition or owing to being the sole legal heir also can be
accepted provided the title of the property is free from encumbrance.
* The residual life of the property should be more than 20 years
Purpose  Loan to meet Medical, emergency expenditure for maintenance of family
 For supplementing pension / other income
 Meeting any other genuine need
(Speculative, trading purposes shall not be permitted)
Quantum of Loan  The amount of loan will depend on realizable value of the residential
property as assessed by the Bank. The realizable value of the property is
calculated at 10% less than the Market Value assessed by Bank’s Panel
Engineer.
 Maximum loan amount: Rs.75 lakh.
 Loan will be disbursed by Bank on regular monthly terms as annuity.
Lump sum up to 20% of the eligible loan amount should be considered only
if the amount is utilised for meeting medical expenses of the Reverse
Mortgage Loan Applicant/s.
 The maximum eligible lumpsum is restricted to Rs.15 lakhs.
 Revaluation of property to be done once in 3 years and interest rate will
be reset once in 5 years. Periodic monthly payments will be based on such
revaluation and the Loan to Asset Value shall be based on such revaluation.
Borrowers consent for this will be obtained upfront.
Margin 61% on the realizable value of property.
Repayment * 15 years, with a provision to roll over, in case of need, after revaluation
* Fresh terms, as at the time of rollover, shall be applicable.
Security  Mortgage of residential property in favour of Bank
 Bank reserves the right to seek additional collaterals
59
 Commercial property will not be eligible for Reverse Mortgage Loan
A {Equitable Mortgage to be registered (at Applicant’s cost) if there is a
provision for the same in the State where property is located}
CERSAI registration (at Applicant’s cost) to be done
Documents to be 1. Completed Application Form with passport size photograph.
submitted for
2. PAN Card copy.
processing the
application 3. Proof of residence such as Recent Telephone Bill / Electricity Bill /
Property Tax Receipt / Passport / Voter’s ID.
4. List of legal heirs with name, age, address etc.
5. Sale Deed.
6. Approved Building Plan.
7. Title Deed Documents for 30 years.
8. Proof of title in the Revenue Records. (Legal Opinion from Advocate &
Valuation of property from Engineer will be arranged by Bank at applicant’s
cost).
Insurance Property (offered as security) to be insured at borrower’s cost with Bank
clause against fire, flood, earthquake, riot and other risks, which are
normally covered by insurance companies.
Other terms and 1. The loan amount need not be repaid during the lifetime of the borrower /
conditions spouse. The borrower / spouse can continue to stay in their home during
their lifetime. 2. The option of pre-payment is available, without pre-
payment charges.
60
20. Jewel Loan
A
Eligibility Individuals including Senior Citizens
Minimum Entry 21 years

Age
Maximum Exit 70 years

Age
Purpose Domestic needs, consumption, family function, medical expenses and any bankable
activity, other than speculative
Type of Facility 1. Bullet Repayment

 Entire loan amount is repayable at the end of period along with interest
 Quantum of Loan:
Loan up to Rs.5.00 lakhs: 70% of market value of the Jewels pledged or Per gram
advance value of Jewels, whichever is lower.
Loan above Rs.5.00 lakhs & up to Rs.10.00 lakhs: 65% of market value of the
Jewels pledged or Per gram advance value of Jewels, whichever is lower.
 Max. Loan Amount: Rs.10.00 lakhs per borrower
 Repayment Period: Maximum 12 months
2. Monthly Repayment
 Repayable in monthly instalments with interest
 Quantum of Loan: 70% of market value of the Jewels pledged or Per gram
advance value of Jewels, whichever is lower
 Max. Loan Amount: No cap
 Repayment Period: Maximum 35 months
Appraiser Fee To be borne by the applicant
Security Pledge of jewels
Documents  Duly filled in application form

Required  Identity proof
 Address proof
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21. Loan For Purchase of “Van / Minibus / Bus / Ambulance” To Institutions /
Firms
A/ PSU / Company / Hospitals
Eligibility · Central PSUs/State PSUs/Government Departments/ Educational Institutions /

Firms/ Company External Rated A and above for the last 2 years / Hospitals run by
Trust/Society.
· The entities should have generated net profit/income or surplus cash flows as
applicable in the last 2 financial years, to service the EMIs.
Purpose Purchase of New Vehicles for own use of the entity
Margin 30% of On Road price for repayment period up to 60 months

20% of On Road price for repayment period from 61 to 84 months
Quantum of Minimum: Rs.10 Lakhs.

loan Maximum: Rs.5 crores (OR) extant of finance required up to 10 vehicles, whichever
is lower per occasion.
Repayment Maximum 84 months (No holiday period)

Period
Security · Hypothecation of vehicle to be purchased.
· Personal Guarantee of promoter / partners / Directors / Trustees of
firm/company.
· Collateral security based on risk assessment
Documents · Audited Balance Sheet / Financial Papers / statement of account (for last 12
required months) of the institutions /PSUs/company for last 3 years.
· Quotation for the vehicle from an authorised dealer.
· Financial Papers / Income and Expenses statement of the

institutions/PSUs/company to ascertain repayment capacity.
· Documents to be taken as per documentation manual as applicable for vehicle
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22. PERSONAL LOAN
Eligibility Permanent Employees with minimum service/ experience of 2 years with

Govt./Quasi -Govt./ Boards/ Endowments/ reputed companies/ Corporate
Industrial Establishments etc.
Purpose For meeting Marriage/Educational and medical expenses, to celebrate family

functions, for other household expenses or any other bankable purpose, but not
for speculative purposes.
Age Minimum Entry Age 21 years
Margin Nil
Net Take Home Pay Take home pay (after proposed EMI) should not be less than 40% of the gross
salary
Guarantee Guarantee of spouse (wherever applicable) and or PF/Gratuity/NPS Nominee
Takeover of Liability If salary is credited with us, takeover is permitted subject to compliance of
norms of the Bank
Closure of loan Repayment tenor will be fixed such that the loan is getting closed 3 months
prior to superannuation
Documents to be · Proof of income (last six months’ Salary Slips showing all deductions or
submitted by the latest Form 16) duly attested by the employer
applicant · Proof of employment (copy of the employment order, Photo Identity
Card issued by the employer, employee number etc)
· Form 16 / ITR
· PAN Card (mandatory)
· KYC documents (like – Passport, Aadhar Card, Ration Card, Election
ID, Driving License etc).
· Authorization to debit SB account / ECS / NACH mandate.
Category 1: Salary of the employee is credited in Indian Bank and no Check-off/

Undertaking is available
 Term Loan:
o Maximum of 20 times of the monthly GROSS salary

o Repayment tenor: Max 84 months
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 Overdraft:
Ao Limit equal to 1 month’s gross salary of the applicant subject to maximum of Rs.2.00 Lakh
o Limit is valid for a period of one year
 Maximum limit is capped at Rs.50.00 lakhs (Term Loan and Overdraft together)
 Subject to the condition that the employer will obtain NOC from us for change of salary account
Category 2: Salary of the employee may or may not be credited in Indian Bank and
Check-off / Undertaking is available (or) Customer has already availed Home Loan with
us, account is regular, and salary is credited in our Bank
 Term Loan / Overdraft: Maximum of 20 times of monthly GROSS salary
 Maximum limit: No cap

 Repayment tenor of Term Loan: Max 84 months
 Overdraft under this category is sanctioned on a monthly reduction basis with Repayment Tenor
of:
o For limits up to Rs.5 lakhs – Max 60 months
o For limits above Rs.5 lakhs – Max 84 months
 At any point in time a customer is allowed to take either term loan or overdraft and cannot have
both the facilities at the same time.
23. LOAN AGAINST LEASE RENTALS

Our bank has a product in the name of “IB RENTAL” for availing finance against the lease rentals of
commercial and residential properties on the most liberalized terms. The scheme will cater to the specific
needs of our clientele who owns Malls and other commercial complexes, let out on rent or proposed to
be let out.
Particulars Guidelines
Owners of Property (Commercial/Residential) who

Eligibility
have let out or propose to let out the property to eligible lessee/Tenants
Purpose Any Bankable purpose
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A Loan Requirement of Rs. 5 crores and above.
Depending on of monthly rental value pertaining to unexpired certain period
of the lease.
Loan amount
(For Loan amount of less than Rs. 5 crores our Bank has separate scheme
under the name IB-Rent Encash)
Margin 10% to 20% of the net present value of the rentals
Tenor & Period of EMI Maximum period 144 months. Period of 180 months can be considered
repayment on selective basis.
Mortgage of the property with value to cover 125% of the loan amount.
Escrow of the lease rentals
Security Tri-partite Agreement between the Borrower, Lessee and the Lender (Bank)
Others as applicable as per Bank guidelines
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24.
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Processing Fee on Personal Segment Loan Products
Product Name Processing Charges

IB Home Loan to Residents 0.40% up to ₹100 lakhs subject to max. of ₹20000.00
Home Loan to NRI 0.20% above ₹100 lakhs subject to max. of
₹50000.00
IB Home Advantage
IB Plot Loan to NRI
IBHL-CRE
IB Home Improve 1.00% on the Loan amount

IB Home Loan Plus Min: Rs.5000.00; Max: Rs.15000.00
IB Home Enrich
Plot Loan to Residents
Repair and Renovation
Home Loan to Corporate Entity 0.25% of the loan amount

Minimum: ₹25,000.00
Maximum: ₹5.00 lakhs
IB Home Loan Combo Concession of 50% applicable processing charges for

the following Loan products: Vehicle Loan, IB Clean
Loan, IB Pension Loan, IB Home Improve
Ind Mortgage Scheme 1.00% on the loan amount
Rent Encash
IB Rental
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IB Reverse Mortgage 0.30% on the loan limit
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IB Vehicle Loan (Car) 0.50% on the loan amount. (Max.
₹10000.00)
IB Vehicle Loan (2-Wheeler) 1% on the loan amount
IB Vehicle Loan (Used Car) 1% on the loan amount (max. ₹10000)
Loan for Purchase of “Van / Minibus / Bus / 1% on the loan amount (max. ₹100000
Ambulance” to Institutions / Firms / PSU / Company / per loan)
Hospitals
IB Educational Loan – Study in India & Studies Up to ₹10 lakhs: Nil
Abroad Above ₹10 lakhs: 0.15% max.
₹3000.00
IB Educational Skill Loan NIL

Educational Loans covered under Credit Guarantee
Scheme
IB Education Loan Prime
Pre-approved Personal Loan ₹470.00

Clean Salary Loan For Govt/PSU Employees: Nil
Clean Salary Loan Overdraft For others: 1.00% on the Loan amount;
Maximum: Rs.10000.00
IB Pension Loan Scheme Up to ₹25000: NIL

Above ₹25000: ₹250.00
Jewel Loan (Non-Priority) ₹0.50% on loan amount.

OD against Gold Jewels
Loan against NSC/LIC Bonds Up to ₹ 1 Lakh: Nil

Above ₹ 1 Lakh: ₹ 500.00
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25. CIBIL SCORE
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The Credit Information Bureau (India) Limited (CIBIL) is the most popular of the four credit
information companies licensed by Reserve Bank of India. There are three other companies
also licensed by the RBI to function as credit information companies. They are Experian,
Equifax and Highmark. However, the most popular credit score in India is the CIBIL score.
Let’s find out what is CIBIL score.
CIBIL Limited maintains credit files on 600 million individuals and 32 million businesses.
CIBIL India is part of TransUnion, an American multinational group. Hence credit scores are
known in India as the CIBIL TransUnion score.
CIBIL Score is a 3-digit numeric summary of your credit history, rating and report, and
ranges from 300 to 900. The closer your score is to 900, the better your credit rating is.
What does credit history and credit report mean in CIBIL?

When you want a loan, you must ask yourself what is my CIBIL score? And will I be credit-
worthy? Your bank will check your credit-worthiness through your credit history and make a
credit report.
A credit history is a record of a borrower's repayment of debts. A credit report is a record of

the borrower's credit history from a number of sources, including banks, credit card
companies, collection agencies, and governments. A borrower's credit score is the result of a
mathematical algorithm applied to credit information to predict how credit worthy you are.
A CIBIL credit score takes time to build up and usually it takes between 18 and 36 months or
more of credit usage to obtain a satisfactory credit score.
Why does the CIBIL credit score matter?
The CIBIL score plays a critical role in the loan application process. When someone
approaches a bank or a financial institution for a loan, the lender first checks the applicant’s
CIBIL score and report. If the CIBIL score is low, the bank may not even consider the
application further. If the CIBIL score is high, the lender will investigate the application and
consider other details to determine if the applicant is credit-worthy.
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The CIBIL score works as a first impression for the lender, the higher the score, the better are
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your chances of the loan being reviewed and approved. The decision to lend is solely
dependent on the bank and CIBIL does not in any manner decide if the loan/credit card
should be sanctioned or not.
Typically, a score of 700 is considered good.
How is the score calculated?

While each credit information company has its own proprietary algorithm to calculate an
individual's credit score, the most important elements of the score composition are centric
around the loan payment behaviour of the individual. Your CIBIL TransUnion Score is
calculated based on the information in the "Accounts" and "Enquiry" section of your CIBIL
Report. The score is calculated based on the following factors:
1. Past Performance: Individuals past performance on their debt obligations is the most
important criterion and contributes approximately 30 per cent weightage to the score
2. Credit Type & Duration: Type of loan availed whether secured or unsecured loan, and
the duration of credit history established contributes an additional 25 per cent to the score.
3. Credit Exposure: The total amount of credit exposure contributes another 25 per cent
4. Other factors: Other factors such as credit utilization, recent credit behaviour contributes
the remaining 20 per cent to the score.
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26. Loan Amortization Table
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Resulting
Opening principal principal
Month outstanding Interest paid Principal repaid outstanding
1 Rs. 50000 500 3942 Rs. 46058
2 Rs. 46058 461 3981 Rs. 42077
3 Rs. 42077 421 4021 Rs. 38056
4 Rs. 38055 381 4061 Rs. 33994
5 Rs. 33994 340 4102 Rs. 29892
6 Rs. 29892 299 4143 Rs. 25749
7 Rs. 25749 257 4185 Rs. 21564
8 Rs. 21564 216 4226 Rs. 17338
9 Rs. 17338 173 4269 Rs. 13069
10 Rs. 13069 131 4311 Rs. 8758
11 Rs. 8758 88 4354 Rs. 4404
12 Rs. 4404 44 4398 Rs. 0.00
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27. EMI Calculator
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28. Interest rate charges
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Product Name Interest Rate
Range
Home Loan
IB Home Loan to Elite Customers (Rs.15 lakhs & above) 8.45% to 9.10%
IB Home Loan to Elite Customers (Rs.15 lakhs & above) – Takeover 8.45% to 9.00%
IB Home Loan (CRE) to Elite Customers (Rs.15 lakhs & above) 8.95% to 9.60%
IB Home Loan to General Customers 9.20% to 9.40%
IB Home Loan CRE to General Customers 9.70% to 9.90%
Home Loan Premium

IB Home Loan Premium 9.00% to 9.20%
Home Loan to Corporate Entity

Home Loan to Corporate Entity 8.45% to 9.95%
Home Advantage
IB Home Advantage to Elite Customers (Rs.15 lakhs & above) – 8.85% to 9.10%
Term Loan
IB Home Advantage to Elite Customers (Rs.15 lakhs & above) – 9.85% to 10.10%
Overdraft
IB Home Advantage to General Customers – Term Loan 9.20% to 9.40%
IB Home Advantage to General Customers – Overdraft 10.20% to 10.40%
Plot Loan
Plot Loan to Elite Customers (Rs.15 lakhs & above) 9.85% to 10.10%
Plot Loan to General Customers 10.20% to 10.40%
IB Home Improve
IB Home Improve to Elite Customers (Rs.15 lakhs & above) 9.35% to 9.60%
IB Home Improve to General Customers 9.70% to 10.15%
IB Home Enrich
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IB Home Enrich 9.40% to 9.95%
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Home Loan Plus

IB Home Loan Plus to Elite Customers (Rs.15 lakhs & above) 9.35% to 9.85%
IB Home Loan Plus to General Customers 9.70% to 10.15%
Ind Mortgage Loan

Ind Mortgage (Term Loan) 10.10% to 11.60%
Ind Mortgage (Overdraft) 11.10% to 12.60%
Reverse Mortgage Loan

Reverse Mortgage Loan 9.40%
Loan against Rent Receivables

IB Rent Encash 10.00% to 11.50%
IB Rental 9.70% to 11.20%
IB Rental (CRE) 10.20% to 11.70%
If the lessee(s) is(are) our Bank / PSB / Pvt sector Bank / Reputed Financial Institution /
Government Organization / PSU / Company & Firm (Externally rated “A” / equivalent and
above), concession of 0.50% is application on effective ROI
Education Loan
Education Loan 8.60% to 11.40%
Vehicle Loan
IB Vehicle Loan to Elite Customers (Rs.5 lakhs & above) 8.65% to 9.05%
IB Vehicle Loan Eco Vahan (Electric Car) to Elite Customers (Rs.5 8.60% to 9.00%
lakhs & above)
IB Vehicle Loan to General Customers 9.20% to 9.70%
IB Vehicle Loan Eco Vahan (Electric Car) or General Customers 9.20% to 9.65%
IB Vehicle Loan for Purchase of User Car $ 10.80% to 12.90%
Vehicle Loan for Purchase of 2-Wheeler 9.20% to 11.65%
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Loan for Purchase of “Van / Minibus / Bus / Ambulance” to 10.00% to 10.65%
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Institutions / Firms / PSU / Company / Hospitals
$ For vehicles purchased from certified pre owned cars like Authorized Dealer of Maruti
True Value, Mahindra First Choice, Hyundai Promise, Toyota U Trust (supported by
Quotation) discount of 0.25% is given on the applicable rates.
Pre-approved Personal Loan

Pre-approved Personal Loan to Pensioners, Salaried & Regular 12.40%
Income customers
PAPL to Self-employed Customers 13.00% to 15.00%
Pre-approved Personal Loan to Home Loan customers 11.00%
Clean Loan
Non-Priority Term Loan for GMRA Premium 10.00% to10.15%
IB Saral 10.60%
IB Professional 10.25%-10.50%
IB Insta Cash 10.25%
Salary Loan & IBCLS Plus

Clean Loan to Salaried Class – Term Loan 10.90% to 11.40%
Clean Loan to Salaried Class – Overdraft 11.90% to 12.40%
Pension Loan
Pension Loan 11.15% to 11.40%
Jewel Loan
Jewel Loan (Non-Priority) 8.95% to 9.75%
OD against Gold Jewels 9.90% to 10.40%
Other Retail Loans

Sovereign Gold Bond 9.05% to 9.90%
Loan / Overdraft against NSC/KVP/LIC Policy/RBI Relief Bonds 10.95%
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Term Loan/Overdraft against own deposits 1% over deposit
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rates
Loan against Third party INR deposit 10.80%
Loan to depositor against own FCNRB Deposit 10.30%
Loan against third party FCNRB Deposit 10.80%
29. Banking Ombudsman
Banking Ombudsman is a body created by the RBI to take care of the banking complaints of
the general public in India. RBI appoints a senior official or Ombudsman who addresses and
resolves all the complaints and grievances of the customers.
The Banking Ombudsman is basically that has been created by RBI to look after banking
related complaints that general public may need assistance with. The Ombudsman is a senior
official, who has been appointed by the Reserve Bank of India to address grievances and
complaints from customers, pertaining deficiencies in banking services. It covers all kinds of
banks including public sector banks, Private banks, Rural banks as well as co-operative
banks. It was originally established in 1995, it went through some major revisions in 2006
which covered transactions pertaining to complaints of ATM cards, debit cards and credit
cards, deduction of service charges by banks without prior intimation, unfair practices of
banks and non-compliance by direct sales agents (DSA) of banks for the services that were
promised while opening the bank account and more. It was last amended in February, 2009 as
of December, 2015 to meet the deficiencies that arise from online banking as well.
What are the types of complaints accepted by the banking ombudsman?

Some of the assumably trivial issues such as rude behaviour from the bank officials, delays in
the disbursing of loans, or even forcing customers to buy insurance policies for processing
loans etc., are all addressed by this organization and the process of complaining simple
requires filling up a form online or sending in a filled form to a postal address.
You could even be compensated Rs. 1 lakh for being harassed because of any issue or that
you may have undergone through mental agony.
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Some of the possible issue where you could complain at to the Banking Ombudsman
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include:
 Delay in providing any service

 Charging higher rate of interest linked to BPLR on Housing Loan
 Levying of charges without any notice or Information.
 Any Loss suffered because of lack of coordination from Bank side
 Fraudulent transactions against lost credit card
 Unreasonable credit card charges
 Cheque lost in transit by the bank
 Non-updating of CIBIL records
 Fraudulent transfer of funds by using net banking
 Closure of any account with providing any information or reason
 When bank demands unreasonable proofs for opening of account
 Loss of cheque from Cheque drop box
 Change in terms and conditions without notice or valid reason
 Mis-selling of Insurance products
 Forcing customers to take insurance policies for processing Loans
 Casual approach from Bank on performing its duties
 Rejection of Loans on unfair grounds
 Harassing customer or misbehaviour for any reason
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CHAPTER VI
GOVERNMENT SCHEMES
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30. PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA
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 DETAILS OF THE SCHEME: The scheme will be a one-year cover, renewable
from year to year, Insurance Scheme offering life insurance cover for death due to any
reason. The scheme would be offered / administered through LIC and other Life
Insurance companies willing to offer the product on similar terms with necessary
approvals and tie ups with Banks for this purpose. Participating banks will be free to
engage any such life insurance company for implementing the scheme for their
subscribers.
 Scope of coverage: All savings bank account holders in the age 18 to 50 years in
participating banks will be entitled to join. In case of multiple saving bank accounts
held by an individual in one or different banks, the person would be eligible to join
the scheme through one savings bank account only. Aadhar would be the primary
KYC for the bank account.
 Enrolment period: Initially on launch for the cover period 1st June 2015 to 31st May
2016, subscribers will be required to enrol and give their auto-debit consent by 31st
May 2015. Late enrolment for prospective cover will be possible up to 31st August
2015, which may be extended by Govt. of India for another three months, i.e., up to
30th of November, 2015. Those joining subsequently may be able to do so with
payment of full annual premium for prospective cover, with submission of a self-
certificate of good health in the prescribed proforma.
 Enrolment Modality: The cover shall be for the one-year period stretching from 1st
June to 31st May for which option to join / pay by auto-debit from the designated
savings bank account on the prescribed forms will be required to be given by 31st
May of every year, with the exception as above for the initial year. Delayed enrolment
with payment of full annual premium for prospective cover may be possible with
submission of a self-certificate of good health. Individuals who exit the scheme at any
point may re-join the scheme in future years by submitting a declaration of good
health in the prescribed proforma. In future years, new entrants into the eligible
category or currently eligible individuals who did not join earlier or discontinued their
subscription shall be able to join while the scheme is continuing, subject to
submission of self-certificate of good health.
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 Benefits: Rs.2 lakhs is payable on member’s death due to any reason
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 Premium: Rs.330/- per annum per member. The premium will be deducted from the
account holder’s savings bank account through ‘auto debit’ facility in one instalment,
as per the option given, on or before 31st May of each annual coverage period under
the scheme. Delayed enrolment for prospective cover after 31st May will be possible
with full payment of annual premium and submission of a self-certificate of good
health. The premium would be reviewed based on annual claims experience.
However, barring unforeseen adverse outcomes of extreme nature, efforts would be
made to ensure that there is no upward revision of premium in the first three years.
 Eligibility Conditions: a) The savings bank account holders of the participating
banks aged between 18 years (completed) and 50 years (age nearer birthday) who
give their consent to join / enable auto-debit, as per the above modality, will be
enrolled into the scheme. b) Individuals who join after the initial enrolment period
extending up to 31st August 2015 or 30th November 2015, as the case may be, will be
required to give a self-certification of good health and that he / she does not suffer
from any of the critical illnesses as mentioned in the applicable Consent cum
Declaration form as on date of enrolment or earlier.
 Master Policy Holder: Participating Banks will be the Master policy holders. A
simple and subscriber friendly administration & claim settlement process shall be
finalized by LIC / other insurance company in consultation with the participating
bank.
31. PRADHAN MANTRI SURAKSHA BIMA YOJANA
DETAILS OF THE SCHEME: The scheme will be a one-year cover, renewable from year
to year, Accident Insurance Scheme offering accidental death and disability cover for death or
disability on account of an accident. The scheme would be offered / administered through
Public Sector General Insurance Companies (PSGICs) and other General Insurance
companies willing to offer the product on similar terms with necessary approvals and tie up
with Banks for this purpose. Participating banks will be free to engage any such insurance
company for implementing the scheme for their subscribers.
Scope of coverage: All savings bank account holders in the age 18 to 70 years in
participating banks will be entitled to join. In case of multiple saving bank accounts held by
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an individual in one or different banks, the person would be eligible to join the scheme
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through one savings bank account only. Aadhar would be the primary KYC for the bank
account.
Enrolment Modality / Period: The cover shall be for the one-year period stretching from
1st June to 31st May for which option to join / pay by auto-debit from the designated savings
bank account on the prescribed forms will be required to be given by 31st May of every year,
extendable up to 31st August 2015 in the initial year. Initially on launch, the period for
joining may be extended by Govt. of India for another three months, i.e., up to 30th of
November, 2015. Joining subsequently on payment of full annual premium may be possible
on specified terms. However, applicants may give an indefinite / longer option for enrolment
/ auto-debit, subject to continuation of the scheme with terms as may be revised on the basis
of past experience. Individuals who exit the scheme at any point may re-join the scheme in
future years through the above modality. New entrants into the eligible category from year to
year or currently eligible individuals who did not join earlier shall be able to join in future
years while the scheme is continuing.
Premium: Rs.12/- per annum per member. The premium will be deducted from the account
holder’s savings bank account through ‘auto debit’ facility in one instalment on or before 1st
June of each annual coverage period under the scheme. However, in cases where auto debit
takes place after 1st June, the cover shall commence from the first day of the month
following the auto debit.
Eligibility Conditions: The savings bank account holders of the participating banks aged
between 18 years (completed) and 70 years (age nearer birthday) who give their consent to
join / enable auto-debit, as per the above modality, will be enrolled into the scheme.
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32. PFRDA – Pension Fund Regulatory and Development Authority
The Government of India had, in the year 1999, commissioned a national project titled
“OASIS” (an acronym for old age social & income security) to examine policy related to old
age income security in India. Based on the recommendations of the OASIS report, Government
of India introduced a new Defined Contribution Pension System for the new entrants to
Central/State Government service, except to Armed Forces, replacing the existing system of
Defined Benefit Pension System. On 23rd August, 2003, Interim Pension Fund Regulatory &
Development Authority (PFRDA) was established through a resolution by the Government of
India to promote, develop and regulate pension sector in India. The contributory pension
system was notified by the Government of India on 22nd December, 2003, now named the
National Pension System (NPS) with effect from the 1st January, 2004. The NPS was
subsequently extended to all citizens of the country w.e.f. 1st May, 2009 including self-
employed professionals and others in the unorganized sector on a voluntary basis.
The Pension Fund Regulatory & Development Authority Act was passed on 19th September,
2013 and the same was notified on 1st February, 2014. PFRDA is regulating NPS, subscribed
by employees of Govt. of India, State Governments and by employees of private
institutions/organizations & unorganized sectors. The PFRDA is ensuring the orderly growth
and development of pension market.
Functions of PFRDA
The PFRDA’s preamble declares that the authority’s goals are to “promote old age income
security by creating, growing, and regulating pension funds, to safeguard the interests of
subscribers to pension fund schemes, and for issues associated with or incidental thereto.”
PFRDA is headquartered in New Delhi, with regional offices located around the country.
 Promote pension plans in the country by encouraging both obligatory and voluntary
pension schemes to meet the retirement income demands of retired workers.
 The National Pension System, both tier 1 and tier 2, is overseen and governed by the
PFRDA.
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 PFRDA oversees hiring different intermediaries such as Pension Fund Managers,
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Central Record Keeping Agency (CRA), and so on.
 Educating the general public and stakeholders on the significance of pensions.
 Training for intermediaries who are in charge of popularising and teaching individuals
about the value of pensions.
 Addressing and resolving issues between various intermediaries, such as banks, as

well as between consumers and intermediates.
Central Record Keeping Agency (CRA)
This intermediary’s responsibilities revolve around record keeping, accounting,

administration, and providing customer support to Pension Fund subscribers. PFRDA has
appointed two CRAs for the aforementioned functions: National Securities Depository Ltd.
(CRA1) and Karvy Computershare Private Ltd. (CRA2).
 Employers of private-sector employees who are pension subscribers have the option
of choosing between the two CRAs.
 Non-employee Voluntary Subscribers can select between the two CRAs on their own.
 The respective government has the option of selecting CRA for government sector
employee pension subscribers and subscribers enrolled in the Atal Pension Yojana.
 The aggregator chooses between the two CRAs for NPS subscribers.
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33. Atal Pension Yojana (APY)
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Introduction
 The Government of India is extremely concerned about the old age income security of
the working poor and is focused on encouraging and enabling them to join the
National Pension System (NPS). To address the longevity risks among the workers in
unorganised sector and to encourage the workers in unorganised sector to voluntarily
save for their retirement, who constitute 88% of the total labour force of 47.29 crore
as per the 66th Round of NSSO Survey of 2011-12, but do not have any formal
pension provision, the Government had started the Swavalamban Scheme in 2010-11.
However, coverage under Swavalamban Scheme is inadequate mainly due to lack of
guaranteed pension benefits at the age of 60.
 The Government announced the introduction of universal social security schemes in
the Insurance and Pension sectors for all Indians, specially the poor and the under-
privileged, in the Budget for the year 2015-16. Therefore, it has been announced that
the Government will launch the Atal Pension Yojana (APY), which will provide a
defined pension, depending on the contribution, and its period. The APY will be
focussed on all citizens in the unorganised sector, who join the National Pension
System (NPS) administered by the Pension Fund Regulatory and Development
Authority (PFRDA). Under the APY, the subscribers would receive the fixed
minimum pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month,
Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their
contributions, which itself would be based on the age of joining the APY. The
minimum age of joining APY is 18 years and maximum age is 40 years. Therefore,
minimum period of contribution by any subscriber under APY would be 20 years or
more. The benefit of guaranteed minimum pension would be guaranteed by the
Government. The APY would be introduced from 1st June, 2015.
Benefit of APY
 The Guaranteed minimum pension for the subscriber ranging between Rs. 1000
to Rs. 5000 would be available, if he joins and contributes between the age of 2
18 years and 40 years. The contribution levels would vary and would be low if
subscriber joins early and increase if he joins late. 2.2 The benefit of minimum
pension under Atal Pension Yojana would be guaranteed by the Government in
83
the sense that if the actual realised returns on the pension contributions are less
A
than the assumed returns, for minimum guaranteed pension, over the period of
contribution, such shortfall shall be funded by the Government. On the other
hand, if the actual returns on the pension contributions are higher than the
assumed returns for minimum guaranteed pension, over the period of
contribution, such excess shall be credited to the subscriber’s account, resulting
in enhanced scheme benefits to the subscribers.
Eligibility for APY
 Atal Pension Yojana (APY) is open to all bank account holders. The Central
Government would also co-contribute 50% of the total contribution or Rs. 1000
per annum, whichever is lower, to each eligible subscriber account, for a period
of 5 years, i.e., from Financial Year 2015-16 to 2019-20, who join the NPS
before 31st December 2015 and who are not members of any statutory social
security scheme and who are not income tax payers. However, the scheme will
continue after this date, but Government Co-contribution will not be available.
The Government co-contribution is payable to eligible PRANs by PFRDA after
receiving the confirmation from Central Record Keeping Agency at such
periodicity as may be decided by PFRDA.
Age of joining and contribution period

 The minimum age of joining APY is 18 years and maximum age is 40 years. The
age of exit and start of pension would be 60 years. Therefore, minimum period
of contribution by the subscriber under APY would be 20 years or more.
84
MY EXPERIENCE DURING INTERNSHIP
A
 I did my internship in the Indian Bank East R.A Puram Branch, Chennai.
 On the very First day I was asked to observe about the general practises that were adopted
by the bank.
 From the next day onwards I learnt what were the various types of accounts and how the
accounts were being opened for individuals, partnership firms and business enterprises.
 Also, I learnt how these accounts could be opened digitally using TAB known as ‘Tab
Banking’.
 I leant what were the procedures that were adopted while opening the bank account.
 I also learnt, how the E- KYC verification was done, and how PAN card and Aadhar card
were being linked to the Bank account
 We were also taught how the debit, credit cards were issued, How they should be verified
before issuing it to the customer, once the card was issued how to activate the card, if the
card was lost how to raise the complaint etc .
 We also learnt about various investment avenues and the special deposit schemes that was
offered by the central government and their interest rates.
 We also got to learnt about the various loan products that is offered by the Indian bank,
how the loans were processed, how the cibil score was calculated, pre sanction, post
sanction of loans, repayment tenure etc.
 We also learnt about how loans could be availed through IND Oasis App.
 One of the main aspects we learnt was the banker – customer relationships. How
important the customers were to the bank and how should we treat them.
 In addition, we saw and learnt how the money was loaded into the bank ATMs. And how
to set the debit/credit card PIN.
 Lastly, we learnt about the various government schemes that were offered by the Indian
bank namely PMJJBY, PMSBY, APY, PPF ACCOUNT. We were taught in detail about
the schemes, The amount that needs to be paid, its benefits, duration of the scheme, about
the nomination etc.
 In addition, we were asked to brief about the schemes to the customers who were coming
to the bank and explain to them about the benefits of the scheme and ask them whether
they were interested in joining this scheme
85
 Overall, it was really a great exposure where we could practically learn all the banking
A
practises which we had read theoretically in the previous semesters. It gave us immense
deep knowledge about the various services which were provided by the bank.
 I am thankful to my Head of the Department and my College for giving this
opportunity…
86
A
ANNEXURE
PMSBY PMJJBY
Contribution Chart
87
A
88
CREDIT CARD APPLICATION FORM
A
89
DEBIT CARD APPLICATION FORM
A
90
PERSONAL LOAN APPLICATION FORM
A
91
LOAN AGAINST DEPOSITS APPLICATION FORM
A
92
A
93

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BANKING PRODUCTS AND

S.NO CHAPTER PAGE.NO

1. INDIAN BANK PROFILE 2- 15

2. DEPOSIT PRODUCTS 16 -29

4. DIGITAL PRODUCTS 36- 52

5. LOAN PRODUCTS 53- 76

6. GOVERNMENT SCHEMES 77-- 84

INDIAN BANK PROFILE

2. Nationalization of Banks in India

BANKS HEADQAUTER TAG LINE

INDIAN BANK CHENNAI YOUR TECH- FRIENDLY BANK

CANARA BANK BANGLORE TOGETHER WE CAN

UNION BANK OF INDIA MUMBAI GOOD PEOPLE TO BANK WITH

UCO BANK KOLKATA HONOURS YOUR TRUST

BANK OF MAHARASHTRA PUNE ONE FAMILY ONE BANK

BANK OF INDIA MUMBAI RELATIONSHIPS BEYOND BANKING

CENTRAL BANK OF INDIA MUMBAI CENTRAL TO YOU SINCE 1911, BUILD A

BANK OF BARODA GUJARAT INDIA’S INTERNATIONAL BANK

3. Reserve Bank of India present rates

POLICY REPO RATE 6.50%

STANDING DEPOSIT FACILITY RATE 6.25%

MARGINAL STANDING FACILITY RATE 6.75%

BANK RATE 6.75%

FIXED REVERSE REPO RATE 3.35%

4.2. Branch Network

Domestic branches: 5770

1. Shri Santi Lal Jain

2. Shri Imran Amin Siddiqui

3. Shri Ashwani Kumar

4. Shri Mahesh Kumar Bajaj

5. Dr. Maruthi Prasad Tangirala

6. Dr. Aditya Gaiha

7. Dr. Bharath Krishna Sankar

8. Ms. Papia Sengupta

9. Shri Balmukund Sahay

10. Shri Vishvesh Kumar Goel

Chairman And Managing Director

Chief General Manager

Top Executive (Only in advanced banks) Scale VIII

General Manager Scale VII

Deputy General Manager Scale VI

Assitant General Manager Scale V

Divisional Manager /Chief Manager Scale IV

Senior Manager Scale III

Branch Name E.R.A. PURAM

Branch Manager DEVI LATHA PADMANABHAN S P.

Address CSM Plaza,Old No-45, New No-34,, Venkatakrishna Road,

State TAMIL NADU

Pin code 600028

MICR Code 600019014

Working Hours 10:00 AM To 03:30 PM

Phone Number 044-24938454

Email Address erapuram@indianbank.co.in

into 4 big banks.

sector bank in the country.

•IB CORP SB – Payroll package scheme for salaried class