South Indian Bank launches SIB EXIM Current Account
Hyderabad, 9th August, 2023: South Indian Bank launches SIB EXIM Current Account specially curated for customers involved in Import and Export business. The Current account is available in two variants SIB EXIM Silver and SIB EXIM Gold with required Quarterly Forex Throughput (QFT) of 15000 (USD equivalent) and 50000 (USD equivalent) respectively.
SIB EXIM Current Account offers Competitive rates in Trade finance transactions, Free & Unlimited NEFT/RTGS transactions through digital channels, Unlimited Free Cash withdrawals from any SIB branches, Free Cash Deposit limit up to 15 times of previous month AMB, Free issuance of International Debit card and a lot more transactional benefits to cater the needs of this segment.
Earlier, bank has launched “SIB TF Online” a digital banking platform to facilitate Trade Finance transactions through Corporate Internet Banking 24X7 in a safe and paperless manner. Moreover, South Indian Bank is also authorized by RBI as an Agency Bank for collection of Customs Duty through ICEGATE portal.
Speaking about the launch Mr. Thomas Joseph K, EVP & Chief Business Officer said, “We are excited to offer our customers this dedicated current account product for managing their international trade needs. This new product is a testament to our commitment to providing our customers with the tools and resources they need to succeed in the global marketplace”.
About South Indian Bank
South Indian Bank is a leading Kerala-based Private sector bank with a nationwide presence. The bank’s shares are listed on The Stock Exchange Mumbai (BSE) and The National Stock Exchange of India Ltd., Mumbai (NSE). South Indian Bank has 941 branches, 1170 ATMs and 126 CDR/CDMs across India and a representative office in Dubai, UAE. South Indian Bank is a pioneer in technology-based banking, offering an array of digital products and services. It has one of the youngest workforces in the bankingsector in the country. The Bank’s Vision 2024 focuses on the 6 Cs -- capital, CASA, cost-to-income, competency building, customer focus, and compliance.