Indian Overseas Bank customers can now choose their name as account number

- Advertisement -

Indian Overseas Bank (IOB) has introduced a new scheme that allows customers to choose any name as their savings account number. This scheme, called ‘My Account My Name,’ is the first of its kind in the banking industry. Customers can select their own name or any other name as their account number, which can be used for all transactions.

The scheme was launched virtually by the bank’s managing director and chief executive officer from its Central Office in Chennai. It will be available at all 49 regional offices of IOB in India.

Under this scheme, the account name can be a combination of seven letters, seven numbers, or seven alphanumeric characters. For example, names like AJIT007, PRADHAN, or 2424707 can be used as account numbers.

- Advertisement -

Customers will no longer need to remember their 15-digit account numbers. Initially, the scheme is available for IOB SB HNI (High Net Worth Individuals) and IOB SB SALARY account customers.

IOB has redesigned all its savings account schemes to cater to the diverse needs of different segments of society, including salaried individuals, high net worth individuals, students, pensioners, and senior citizens.

The bank previously revamped its current account schemes on its 87th foundation day in February 2023.

- Advertisement -

Share this article...

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News...

Latest

Aryavart Bank Officers announce strike on 22 July against unfair transfers

Aryavart Bank Officers announce strike on 22 July against unfair transfers

Fraud Cases in Public Sector Banks increase Six Times in FY24

Fraud Cases in Public Sector Banks Surge Sixfold in FY24, Despite Reduction in Fraud Amounts

12.5 crore people in India got job between 2014 and 2023: SBI Report

India Generates 125 Million Jobs Between FY14 and FY23

Madras High Court says Advocates can’t represent complainants before RBI Ombudsman

Madras High Court Rules Against Legal Representation for Complainants Before RBI Ombudsman

FIR Registered Against Axis Bank MD in Lucknow for Rs.30 crore Fake Loan Fraud

FIR Registered Against Axis Bank MD in Lucknow for Fake Loan Fraud

CBI arrests Prathama UP Gramin Bank Manager for Bribery in KCC Loan

CBI arrests Prathama UP Gramin Bank Manager for Bribery in KCC Loan

Controversy erupts in appointment of MD & CEO of Indian Bank, RBI writes letter to Finance Ministry

Controversy erupts in appointment of MD & CEO of Indian Bank, RBI writes letter to Finance Ministry

Farmers MSP is linked to politics, Govt to face burden of Rs 13.5 trillion this year: SBI Report

Farmers MSP is due to politics, Govt to face burden of Rs 13.5 trillion this year: SBI Report

Rs 15 crore KCC fraud in Bank of India, Case filed against Branch Manager

Rs 15 crore KCC fraud in Bank of India, Case filed against Branch Manager

Latest News