Multi City Cheque Facility

Launched with effect from 1^st September 2005.

Eligibility to avail the facility:-

1. All customers maintaining satisfactorily operated Current Account OR Cash Credit account with a Networked Branch  are eligible to apply for this facility through the branch.
    
2. The Cheques are personalized with the customer name’s  pre-printed and will be issued from a centralized location.

Issue of Cheques:

1. Customer may issue the Cheque to their suppliers / beneficiaries who maintain accounts with any Bank in the 40 identified centers.
2. Each Cheque can be drawn for a maximum amount of Rs. 5,00,000 /- (Rupees Five Lacs only).
3. No cash withdrawal is permitted against the Cheque.

How payment would be effected?

1. The upcountry beneficiary can present the Cheque to local branch of IOB in clearing and can get the payment locally.
2. If the beneficiary is a customer of IOB, the Cheque would be paid instantly on line.

Where payable?

1. The Cheques are payable at par at all networked branches of the Bank.