:: Indian Overseas Bank

Current Account can be opened either singly or in joint names for Private Individuals. Accounts can also be opened for Private Limited Companies / Partnership / Limited Companies / Societies and Sole Proprietor.
Photo Copies of Passport / IC / Employment Pass to be submitted. Original documents should be shown at the time of verification
Check List for opening Limited Companies Account

Memorandum and Articles of Association.
(Duly signed by the Directors in the first and last page)
Certificate of Incorporation
Instant Information from Registrar of Companies
Resolution for opening and operating the account
Introduction by current account holder acceptable to the bank
Photocopies of Identity Card/Passport of all the Directors

Check List for opening Partnership Account
- Copy of Partnership Agreement
- Certificate of Registration
- Instant Information from Registrar of Companies
- Rubber Stamp with Designation
- Introduction by Current Account holders acceptable to the Bank
Current Account can be opened in SGD and USD.
Minimum deposit of $1000 for SGD or USD for corporate accounts and $500 for private individuals opening in SGD or USD
Minimum balance equivalent to the deposit amount to be maintained, otherwise a charge of SGD/USD 10 will be charged as service charge.
Cash Withdrawal by way of a cheque.
Cheque books will be issued to the Account Holder
There will be service charges on closing of account
Customers to advise change of address promptly.
Notification to customers will be by post and the last given address will be deemed to be the actual address.
Customers have to keep track of their accounts and make sure deposits or withdrawals are made periodically once every three months at least in order to keep account operative. Charges will be levied to keep account operative once account becomes inactive.
Bank reserves the right to recover or adjust any incorrect entry in the account.
Customers are requested to check all entries in statement and will be deemed to be correct if not notified within 14 days.
For USD accounts, Currency deposits will be subjected to lieu of exchange of 1% and withdrawal depends on the availability of US Dollars with the bank.