Indian Overseas Bank (IOB) launched a programme where customers can choose any name for their savings account number.
According to the Indian Overseas Bank, the plan is the first in the banking industry to allow customers to choose their own or any other name as an account number that may be used for all transactions. The bank’s Managing Director and CEO launched the ‘My Account My Name’ scheme remotely from its Central Office in Chennai. The scheme will be available at the IOB’s 49 regional offices across India.
According to the scheme, the account name can be a mix of seven letters, seven digits, or seven alphanumeric characters solely, such as AJIT007, PRADHAN, or 2424707, and so on. Customers will not have to memorise their 15-digit account numbers. First and foremost, the plan is offered to IOB SB HNI and IOB SB SALARY account holders.
IOB stated that it has redesigned all of its savings account programmes to meet the demands of all segments of society, including salaried workers, high net worth individuals (HNI), students, retirees, and senior citizens. On its 87th anniversary in February 2023, the state-owned bank overhauled current account schemes.
