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"0" Fee - Rupay Select Debit Card ‼️ - Indian Overseas Bank- SBHNI Account

ramkumar_yramkumar_y is verified member.

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Rupay Select Debit Card Available at "0" Issuance / Annual Fee.
100% Online Account Opening - No Branch Visit.


Note: Always refer bank website for updated and exact charges details
(Following details won't be updated)


Indian Overseas Bank SB-HNI Account (Features) :
Rupay Select DC: No Issuance / Annual Fee
Initial funding: 50000*
AMB: 50000
Card replacement: 350 + GST*
*Card will be processed after Initial funding.
*Card replacement can be requested through Mobile Banking.

Account Opening Procedure:
1)
Visit VKYC Page
2) In Branch Selection choose your nearby branch.
3) Select scheme as SB-HNI only.
4) Rupay Select is shown under Debit Card options, select the same.
5) VKYC verification will be done and account will be opened in 2-3 days.
6) Add Initial funding of 50000 and your card will be Auto-Generated and sent to your Registered address by bank.


FeatureDescription
EligibilityAccounts can be opened by all those who are eligible to open savings bank accounts.
Quarterly Average Balance (QAB)Rs 50,000/- for all
Non-Maintenance of QAB per quarterFlat Rs. 300/ per quarter
Internet & Mobile Banking FacilityFree
Type of Debit cardVISA Gold/ Rupay Platinum/ VISA Signature/ Rupay Select
Debit Card Issuance ChargesFree
Debit Card Annual Maintenance ChargeFree
ATM Cash Withdrawal LimitRs 40,000/- in VISA Gold / Rs 50,000/ in Rupay Platinum and Select/ Rs 1 Lac in VISA Signature
ATM POS LimitRs 1.25 Lac in VISA Gold and Rupay Platinum/Rs 3.5 Lac VISA Signature Rs 5 Lac Rupay Select
Ecom LimitRs 1.25 Lac in VISA Gold and Rupay Platinum/Rs 3.5 Lac in VISA Signature/ Rupay Select
ATM Access at own ATMUnlimited FREE
ATM Access at other Bank ATMUnlimited FREE
Lounge access: Domestic /International AirportLounge access is subject to card network. As per the present scenario, Rupay (Platinum/Select) provides 2 lounge access per quarter while VISA(Platinum/Signature) provides 1 lounge access per quarter
FREE Personal Accident Insurance -With accountRs 5 Lakhs (Death + PPD & TPD)
FREE Personal Accident Insurance -With Debit CardRs 10 Lakhs by NPCI for RuPay Select Card
As per the terms & conditions of NPCI, at present Debit Card will be eligible for Rupay Insurance Program only if it is being used in POS/Ecom transaction once in 30 days
Type of Credit cardVissa Classic/ Rupay Platinum/ Rupay Select/ VISA Gold
Credit Card limit subject to Bureau score, income norms and other eligibility criteriaIssuance Free Annual Maintenance Charges (AMC) -50% waiver.
NEFTFree both online & offline
RTGS FacilityFree both online & offline
IMPSFree
Demand DraftFree
SWEEP OUT FACILITY (flexi Facility)Available, if the balance exceeding Rs 1,25,000 will swept out and kept in TD
Core Deposit /Threshold DepositRs 1,25,000/-
Sweep Out amountRs 10,000/-
Sweep out periodicity (From SB to FD account)upto 179 days
Concession in Processing charges on retail loansUp to 50% concession
Personalized Free Cheque Books (per annum)FREE up to 100 leaves a year.
SMS ChargesFree
Concession on locker Rent15 % waiver
Locker OperationsFree
Processing fee for home loan of Rs 25 lacs and above100% concession
Processing fee for home loan below Rs 25 lacs50% concession
Rate of Interest on Home loan0.05% p.a. concession in applicable ROI
Rate of Interest on Vehicle loan0.05% p.a. concession in applicable ROI
Rate of Interest on Education loan more than Rs 7.5 lacs for study abroad / premier institution0.05% p.a. concession in applicable ROI
Rate of Interest on Personal loan0.10% p.a. concession in applicable ROI
Instant Credit of outstation chequesRs 25,000/-
Standing InstructionsFree
Utility Bill Payment, online Tax paymentFree
Stop Payment Instruction ChargesFree
Account Statement through e-mail/e-Statement (Monthly)Free
Benefits with Repay Select Debit Card
Gym
Nil​
15 days/1month free gym membership.
40-50% discounted price on extension of membership.
GOLF
Nil​
1 Complimentary Golf Lesson / round in a year. Discounted access from 2nd visits onwards.
SPA services
Nil​
1 Complimentary SPA session in a year. 40-50% discount on additional sessions throughout the year.
Health Check Up
Nil​
1 Complimentary premium health check-up package in a year. Discounted Health Check-up facility post utilization of complimentary offer.
Concierge Services
Nil​
Personal assistance anytime anywhere 24x7 is available in Hindi and English languages.
Exclusive merchant offers
Nil​
Exclusive offers from selected partner merchants.
 

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Last edited:
to avoid replacement charges, apply for SB HNI account offline in branch and mention i don't need any ATM card so DO NOT ISSUE ANY.. then once account is opened then apply for Rupay Select through mobile banking app/net banking.
 
I had regular account with iob and Rupay platinum card with validity upto 2026.
I upgraded to SB-HNI in Jan 2025 and upgraded to Rupay Select card. They deducted 413 as replacement charge. on this I have complaint to them and regional branch. but they ddnt reply for 2 month. I made a complaint to RBI then bank replied saying its replacement charge as customer has active Debit card. I have given my side of response to bank response to RBI.. now waiting for final verdict of RBI.
 
to avoid replacement charges, apply for SB HNI account offline in branch and mention i don't need any ATM card so DO NOT ISSUE ANY.. then once account is opened then apply for Rupay Select through mobile banking app/net banking.
Even this method attract charges. My account dormant due to repeated deductions from iob. Not funding & ignoring due to this reason
 
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