Indian Bank was established over a century ago as a part of the Swadeshi Movement. The bank now has several bank branches all over the country, a few branches overseas, and over 200 overseas correspondent banks in approximately 75 countries. Indian Bank’s vision is to be a financial institution that is committed to excellence and adding value to its customers. The bank aims to provide its customers with all financial products under one roof at an affordable cost.
One of the many financial products that Indian Bank offers is the current account. A current account is a type of bank account that is mostly used by businessmen who require high liquidity. The account has high limits on the cash deposits and withdrawals made against the account. One of the current accounts offered by Indian Bank is the Supreme Current Account. The account comes in 4 variants.
Indian Bank Account Number
Indian Bank, founded in 1907, has been providing banking services for almost a century. Millions of clients worldwide have accounts in the form of savings, current, and loans, among other things.
Each consumer is given a unique account number that shows their ownership of the institution. Here is detailed information about the numerical system used by Indian banks and how they assign them.
Features and benefits
The following are the features and benefits of the Supreme Current Accounts:
- The average monthly balance requirement for the Supreme Current Accounts differs based on the variant of the account that the customer chooses:
- Plan A: Rs.1 lakh
- Plan B: Rs.2 lakh
- Plan C: Rs.3 lakh
- Plan D: Rs.10 lakh
- The bank provides customers with its internet banking, statement of accounts, and demand drafts free of charge.
- Account holders can avail the bank’s Comprehensive House Holders’ Policy. The limits differ based on the variant of the account that the customer holds:
- Plan A: Rs.1 lakh
- Plan B: Rs.2 lakh
- Plan C: Rs.3 lakh
- Plan D: Rs.3 lakh
- Indian Bank account holders are given the privilege of free cash handling for the first 10 sections per day.
- Individuals can make unlimited cash withdrawals for themselves per day. The maximum amount that can be withdrawn per transaction is Rs.50,000.
Eligibility criteria
To be eligible to open a Supreme Bank Current Account from Indian Bank, the applicant will have to fall under one of the following categories:
- Individual
- Sole proprietorship
- Undivided Hindu Family (HUF)
- Partnership firms
- Clubs
- Associations
- Committees
- Limited companies
- Societies
- Schools Trusts
In addition to the benefits mentioned above, Indian Bank offers its Supreme Current Account holders an insurance cover and discounts on its service charges.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards
Indian Bank Account Number Format
As the Indian banking industry has transformed due to digital transformation, practically every public and private sector bank is now working on core banking platforms to improve services and results.
All Indian bank branches offer essential banking services (anytime, anywhere banking). Account number forms have evolved between banks due to technological advancements in the banking sector. However, there is no consistency in the account number format used by many Indian banks. The length of an Indian Bank account number can range from 9 to 18 digits, depending on the basic banking product utilized by the branch.
BaNCS and Finacle are the two most popular core banking products in India. TCS’s BaNCS produces random account numbers with no branch or product information contained. Finacle generates account numbers in serial format, which include information such as branch code, scheme code, Indian Bank account number digits, serial number, and so on.
When you start an account with Indian Bank, you will be given a 9-digit account number. Account numbers are assigned at random since Indian Bank employs BaNCS core banking. Account numbers can be up to 17 digits long and prefixed with zeros.
Other Details of the Indian Bank Account Number
In its 11 digits, the IFSC code signifies bank and branch information. Indian Bank account number example, if the IFSC code is IDIB000K023
- The first four numbers or the Indian Bank account number starting digits – ‘IDIB’ – are the Indian bank’s identity.
- ‘0’ is the fifth digit.
- The last six numbers – ’00K023′ – are utilized as a branch identifier, which in this case is the K R Puram Indian bank branch.
- Similarly, the MICR code, which is a 9-digit numerical code used for money transfers, uniquely indicates the city, bank, and branch information.
- Finally, with a history dating back more than a century, Indian Bank continues to deliver specialized banking services through its 100% core banking solutions and massive financial inclusion initiatives for rural development.
How to View the Indian Bank Account Number?
Step 1: Obtain your KYC documents.
Step 2: Have your most recent images and the account opening paperwork completed.
Step 3: Gather Proof of Address (Utility bills, Ration card, Bank account statement, etc.)
Step 4: Identity Proof (Aadhaar Card, Passport, PAN Card, Voter’s Identity Card, etc.)
Step 5: Submit all documentation and other information to the local Indian bank.
Step 6: Wait for the account to be authenticated.
Step 7: Get your Indian Bank kit (cheque, passbook, net banking details, etc.)
You now have your own account number with an Indian bank.
Issuance of Indian Bank Account Numbers
Indian Bank account numbers are generated at random; there is no specific digit or number from which an Indian Bank account number begins.
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