Indian Bank SB Platinum

What is Indian Bank SB Platinum?

Indian Bank SB Platinum is a special savings account for high-income earners where surplus money is automatically moved to fixed deposits. It also comes with a free debit card for one year, insurance cover, and free money transfers within cities.

Updated On - 05 Sep 2025
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Overview of Indian Bank SB Platinum:

SB Platinum is a Savings Bank Account which offers the option to convert excess funds in the account to Term Deposit on a daily basis. This account can be availed by (HNIs) & Corporate Executives as well.

Bank

Indian Bank

Category

SB Platinum

Minimum Average Balance Requirements (MAB)

Minimum monthly average balance of Rs.25,000/-

Debit Card Offered

Free Indian Bank Debit card for one year from the date of first use

Interest Rate

Interest will be paid at the time of maturity

Services Offered with SB Platinum:

The following services are provided with Indian Bank Savings Account:

Cheque Book

Customer can choose to issue the cheque up to the balance in the MOD (multi option deposit ) plus the balance in the SB account.

Period

Minimum 15 days to 180 days

Remittance

Free remittance up to a maximum of two times a year, totaling Rs.25,000/-

Sweep

Daily sweep available for a minimum of Rs.5000 and multiples Push Sweep - at the option of the depositor, cut off balance for transferring to MOD A/c (threshold balance) which will be Rs.50,000 or more. If there is any amount in the Account that is above the threshold balance, it will be transferred to STD (in multiples of Rs.5,000). Pull Sweep - In case of an ATM withdrawal or a cheque received for payment and the balance in the SB A/c is not sufficient, on Last In First Out (LIFO) basis, the latest MOD (STD) will be prematurely closed. Further the amount will be automatically transferred to SB A/c in order to meet the payment. the customer has no option to change the PULL Sweep amount which will be in multiples of Rs. 5,000.

Intra / Inter city transactions

No charges for Intra / Inter city transactions

Features of Indian Bank SB Platinum:

Given below are some of the features and benefits that accompany SB Platinum.

Value Added Services

Interest will be paid at the time of maturity

Insurance cover

This account comes with life insurance cover worth Rs. 1 lakh for those in the age group of 15 to 45 years. Personal Accident Insurance cover worth Rs.1 lakh is also offered with the account. Personal accident Insurance is known as "IB Chhatra" and is available for those in the age group of 12 to 70 years.

Debit Card Offered

Free ATM /Debit card for one year from the date of first use

Fees and Charges for Indian Bank SB Platinum:

Service / Product

Fees & Charges

Non Maintenance of average Minimum Balance

If the total products are less than 7,50,000 in a month, customer will be charged Rs.120/- per month inclusive of Service Tax as penalty.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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