Indian Overseas Bank Unveils Ultra HNI Savings Scheme: Premium Banking For the Elite

Alankar Mishra

Author

Updated: 16-04-2025 at 12:52 PM

For high-net-worth individuals (HNIs) in India, the demand for exclusive and specialised banking solutions is on the rise. To meet this demand, Indian Overseas Bank (IOB) has introduced the Ultra HNI Savings Scheme, which comes with enhanced privileges, superior protection, and effortless banking services.

The ordinary banking program offers services in three tiers according to customer value:

IOB SB PRIME
IOB SB PRIORITY
IOB SB PRIVILEGE

All tiers offer a range of complimentary services, such as lounge access, unlimited banking transactions, personalised financial advice, and expensive insurance plans.

Overview

Feature	Details
Scheme Name	IOB Ultra HNI Savings Scheme
Bank	Indian Overseas Bank (IOB)
Target Customers	High-Net-Worth Individuals (HNIs)
Variants Available	IOB SB PRIME, IOB SB PRIORITY, IOB SB PRIVILEGE
Key Benefits	Personal accident insurance, free banking transactions, premium debit & credit cards, lounge access, dedicated relationship managers
Premium Features	Locker rent discounts, loan processing fee waivers, unlimited doorstep banking
Launch Announcement	Ajay Kumar Srivastava, MD & CEO of IOB

What Is The IOB Ultra HNI Savings Scheme?

The Ultra HNI Savings Scheme is an offering by the Indian Overseas Bank. It targets high-net-worth individuals and comes with a proprietary supplementary package that includes insurance, free banking transactions, premium cards, and personalised services.

The scheme aims to elevate the banking experience of the upper class of India by providing incredible financial solutions along with hassle-free convenience.

Objective

For those interested in becoming premium class customers, this scheme goes beyond basic transactions to offer a full lifestyle enhancement. Experience unparalleled banking, servicing and security like never before. Here’s what makes it special:

To provide specially designed financial services for HNIs with added premium features.
To provide enhanced convenience through unlimited free transactions, relationship managers, and doorstep services.
To provide personal accident insurance coverage of up to ₹1.10 crore, providing peace of mind and financial security.
To target rich customers by providing special-cloaked debit and credit cards, locker privileges, and waivers on loans.

Key Benefits

Get a taste of banking that is more than just transactions. Secure, convenient, and exclusively designed for you. From protecting your finances to personalising your services, enjoy banking that caters to you.

1. Financial Security & Insurance Benefits

Personal Accident insurance coverage is achievable for up to ₹1.10 crore.

2. Premium Banking Privileges

Dedicated Relationship Manager for personalszed financial assistance.
Banking Services Anytime, Anywhere – Banking From the Comfort of Your Own Home.
Concession Fee for Lockers – Up to 75% discount on locker rent.

3. Exclusive Debit & Credit Card Benefits

Premium Debit Cards: Top-tier VISA and RuPay cards are issued and maintained without any fees.
Credit Card Perks: No fees for issuance, periodic upkeep, and card expiration for credit cards.

4. Free & Unlimited Banking Transactions

Free NEFT, RTGS and IMPS transactions.
No charge for Instant Alerts for business banking transactions.

5. Lifestyle & Travel Benefits

Complimentary International Access: Enjoy Lounge access at both local and international airports with your RuPay Select Debit Card.

6. Loan & Banking Fee Waivers

No processing fees for vehicle and housing loans will be charged.
Chequebooks, demand drafts, and lockers are free.

Eligibility Criteria

Not everyone has access to exclusive banking services as only a select few elites are catered to. In case you are an HNI who is interested in premium perks, here’s what you need to meet:

As Indian Overseas Bank’s criteria for a high-net-worth individual (HNI), you must meet the minimum balance and income criteria of the bank.
The client must maintain a high average monthly balance in the savings account.
The client must hold or apply for a premium VISA or RuPay debit card issued under the scheme.

How To Apply

Starting with the IOB Ultra HNI Savings Scheme is easy. It doesn't matter if you feel like visiting a branch or would rather apply online; the process is user-friendly. Here's how to go about the application:

Application Process (Online & Offline)

Step 1: Visit the Nearest IOB Branch

Consult with a relationship manager (RM) for in-depth scheme details.
Provide the necessary papers and fill out the application.

Step 2: Apply Online via IOB Net Banking

Log in to IOB’s official website and apply for the Ultra HNI Savings Account.
Select the desired variant (PRIME, PRIORITY, or PRIVILEGE).
Provide KYC documents for verification.

Step 3: Through IOB Mobile Banking App

Open the IOB Mobile App.
Click on “HNI Banking Services” and complete the account opening application.
Submit files pending your bank's approval.

Documents Required

The first step toward easy and worry-free banking is having the correct documentation. To enroll in the IOB Ultra HNI Savings Scheme, please be ready with the following:

Aadhaar Card & PAN Card
Proof of Address
Proof of Income
Statements from Existing Banks

Conclusion

The IOB Ultra HNI Savings Scheme is an special offer designed for customers with exclusive banking needs. Such benefits associated with unmatched perks like personalized banking, free unlimited transactions, exclusive credit and debit cards, and insurance make IOB stand out as a leader in luxury banking.

This scheme offers the fast-growing high net worth individual segment in India financial convenience, superior banking, and security all within one scheme - a must have for all high net worth individuals.

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