What it does
Indian Bank’s IndSMART app handles retail transfers, saved payees and scheduled instructions. It separates transfers within Indian Bank from NEFT, IMPS and RTGS payments to other banks. Basic Savings Bank Deposit accounts include internet and mobile banking without a service fee.
A saved payee and a recurring instruction do different jobs. In IndSMART, payee management adds, edits or removes recipients and marks favourites. Scheduled transfers and standing instructions determine when money moves. Transaction Lock/Unlock separately controls account activity.
For registration, enter the customer ID or mobile number and authenticate with debit-card details, Green PIN or an existing IndSMART MPIN. Set the MPIN, transaction PIN and security questions. The app also supplies account statements and a mobile passbook.
Savings costs depend on the account
Ordinary Savings Bank accounts have no minimum-balance requirement or non-maintenance charge. The January 2026 tariff includes 50 branch debit transactions per half-year, then charges ₹15 plus GST for each extra transaction. ATM, card, internet, mobile and specified electronic payments are excluded from that count. Email statements are free; posted copies incur actual postage.
The bank’s October 2026 deposit policy gives Basic Savings Bank Deposit accounts free digital banking, a debit card without annual charges and at least 25 cheque leaves yearly. No opening deposit or ongoing minimum balance is required. These facilities are optional and existing customers can request them.
The basic account requires identity checks and a declaration that the applicant has no other Basic Savings Bank Deposit account at any bank. It is distinct from a Small Account, whose simplified verification comes with stricter limits and no mobile or internet banking.
Strengths
- Saved recipients and payment schedules have separate controls
- Statements and a mobile passbook support later account review
- Basic deposit accounts include digital banking and a debit card without annual fees
Watch out for
- Basic deposit applicants cannot already hold another basic deposit account at any bank
- Small Accounts do not provide internet or mobile banking
Best for
- Indian Bank customers managing saved payees and scheduled transfers
- Customers choosing between ordinary savings and a basic deposit account
Sources
- Indian Bank IndSMART: Registration and Retail Services (Oct 27, 2026)
- Indian Bank Savings Account: Balance Rules and Eligibility (Oct 27, 2026)
- Indian Bank Service Charges from January 2026 (Oct 27, 2026)
- Indian Bank Deposit Policy Version 1.5, Effective October 2026 (Oct 27, 2026)
- Indian Bank: PMJDY Basic Deposit and Small Account Comparison (Oct 27, 2026)