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MISCELLANEOUS SERVICES)-
COLLECTION OF TAXES:
1. Citizens can remit certain types of Taxes like Income Tax, Sales Tax, Wealth
Tax, Interest Tax, Gift Tax, Corporation Tax, Estate Duty, Customs and Excise
Duty, at the counter of designated branches.
2. For direct taxes OLTAS (Online Tax Accounting System) was introduced from
01.06.2004. The cumbersome process of filling up of four copies of challans has
been replaced by a single copy challan.. As per the latest government
guidelines, it is mandatory to mention the PAN & TAN numbers while remitting the
Income Tax at the branches
3. Taxes can be remitted in cash or by cheques payable locally .
4. Certain branches have also been authorised to accept Telephone Bills,
Electricity Bills and Water Bills and Property Tax.
PAYMENT OF PENSION:
Branches of Indian Overseas Bank are authorised to disburse Central Civil,
Railway, Defence amd various State Government pensions in the following states
and cities.
States: Tamilnadu, Pondicherry, Kerala,
Orissa and Punjab
Cities: Kolkata, Mumbai, Delhi/New Delhi,
Hyderabad/Secunderabad, Bangalore and. Lucknow
The pensioner can open joint account wi;th his /her spouse in whose favour an
authorisation for family pension exists. The pensioner can operate the account
jointly With the spouse by “former or Survivor” or “Either or Survivor” basis.
Monthly Pension is automatically credited to the pensioner’s individual
account.
The pensioners who draw pension are required to submit the prescribed
certificates periodically. Viz , Life certificate, Non-marriage/ Remarriage
certificate ,Non employment certificate etc., to the Branch itself where their
account is maintained.
The pension accounts can be transferred at the request of the pensioner from one
authorised Branch to another and similarly from one Bank to another Bank.
Nomination facility is also available for these accounts.
Our bank is extending exclusive financial assistance in the form of "Pensioner's
Loan Scheme" wherein pensioners are granted loans for medical treatment,
personal expenses etc., subject to bare minimum formalities. The loan is
repayable in easy monthly instalments.
ACCEPTANCE AND EXCHANGE OF CUT NOTES:
1 Citizens can freely exchange soiled / cut and / or slightly mutilated notes
from the bank at any of the branches, subject to the Rules and Regulations
prescribed by the Reserve Bank of India, from time to time.
2 Our Branches with currency chests attached, also provide Exchange of
damaged/mutilated notes subject to provisions o f RBI (Note Refund) Rules, in
force.
3.Customers may refuse to accept cut / soiled notes issued to them as these
unfit notes are not reissuable by the branches.
REMITTANCES:
ISSUE OF DEMAND DRAFTS / TELEGRAPHIC TRANSFERS / MAIL
TRANSFERS AND BANKER'S CHEQUE:
1.All the branches of bank can issue Demand Drafts / Mail Transfers, Telegraphic
transfers on our own branches at the request of the customers / public. Banker's
Cheques are issued for local transactions.
2.The above services are provided on payment of service charges, prescribed by
the bank as directed by Indian Banks' Association from time to time.
3.The above services are rendered within the exhibited time norms, which are
displayed in all the branches and in case of any difficulty citizens can seek
the help of the Branch Manager.
4.Replacement draft, in lieu of lost draft, upto and including Rs.2,500/- may be
issued to the purchaser against indemnity. If duplicate draft is required for a
higher amount, non-payment certificate is called for from drawee office by
telex/telegram at applicant's cost and other formalities completed as per the
prescribed procedures.
PAYMENT OF INTEREST FOR DELAYED COLLECTION:
Outstation cheques are collected within 7 days . Interest at Savings Bank
interest Rate for the delayed period will be paid for delays beyond the
prescribed period mentioned above.. No interest is payable when instruments are
lost in transit.
TRAVELLER CHEQUES:
Our bank issues traveller cheques in various denominations of Rs.100/-, Rs.500/-
and Rs.1,000/-. They are payable at par at all our branches. Nominal service
chares at Rs.0.60 ps. Per Rs.100/- - with a minimum of Rs.6/- is levied for
issuance of travellers cheques. However, exchange will be collected on the total
value of cheques sold at any point of time.
SAFE DEPOSIT LOCKERS:
For the safety of valuables, documents, etc., safe deposit lockers are available
in various sizes in most of our branches, which can be hired by the citizens on
payment of annual rent upfront. Customers are also encouraged to make a caution
deposit while renting the locker depending on the size of the locker..
Nomination facility is also available. All applications received for hiring out
a locker are serially numbered and a waiting list is maintained by the branches.
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