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‘IOB Trendy’ Saving Account by Indian Overseas Bank

Published on March 26, 2021
Current Context: The Indian Overseas Bank (IOB) launched an ‘IOB Trendy’ Savings Account.
‘IOB Trendy’ Saving Account by Indian Overseas Bank
  • It is particularly launched for the growing millennial population in the country by keeping their banking preferences in mind.
  • To have an IOB Trendy account, the customer should be between the age of 21-38 years. The account can be opened in a self or joint manner. In the case of a joint account, the primary holder has to be a millennial at the time of account opening.
  • The ‘IOB Trendy’ comes up with no ‘Opening Balance’ requirement, therefore no charges will be levied for the first month for non-maintenance of balance.
  • The customer needs to maintain a daily minimum balance of Rs 10,000 or a daily minimum balance of Rs 5000 and a digital turnover (transactions using IOB ATM / CDM / IOB Mobile Banking or Internet Banking fund transfer / IOB UPI transactions or IOB Debit card POS transactions) of a minimum of Rs 2000 per month.
  • The account also offers a free personalised accident (death) insurance cover facility of Rs 5 lakhs, if the quarterly average balance is Rs 1 lakh and above.
  • Static Part: 
    • HQ of IOB: Chennai, Tamil Nadu
    • Tagline of IOB: Good People to Grow with


Q.1 What is the name of the saving account launched by Indian Overseas Bank particularly for the growing millennial population?
a. IOB Millions
b. IOB Trendy
c. IOB Sampanna
d. IOB Wealthy
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