New Delhi, April 18th, 2023: South Indian Bank today announced the launch of flexible saving products for NRI customers. NRIs can now enjoy the flexibility to either maintain deposits or the prescribed savings account minimum balance with these products.

South Indian Bank has been on the journey of simplifying banking needs and providing best in class customer experience. The roll out of SIB SEAFARER and SIB PULSE for mariners and healthcare professionals are just the instances for the same.

Speaking on the launch, Mr. Murali Ramakrishnan, Managing Director & Chief Executive Officer (CEO), South Indian Bank, said, “It has been our constant endeavour to provide our customers with banking products that fulfil their needs. Accordingly, our flexible savings products will offer targeted NRI segments with convenient avenues to park their savings. We are confident that SIB SEAFARER & SIB PULSE will lay the foundation for more such products in the banking domain. I’m sure these products will create a new & universal template for the way NRI depositors transact with banks.”

Salient Features of SIB Seafarer and SIB Pulse are:

SEAFARER PULSE
  • Flexibility to maintain a minimum balance of Rs.10,000/- in linked accounts (eligible for the latest 2 NR Accounts opened)
  • No minimum balance required for the maintenance of the NRI Term Deposit of Rs.2,00,000/- and above
  • Experience best in class digital banking through Mirror+ and SiBerNet.
  • UPI payment facility available
  • Airport lounge access with International debit card available.
  • Priority banking facility available for you and your family
  • Special rates for inward remittances*
  • Flexibility to maintain a minimum balance of Rs.10,000/- in linked accounts (eligible for the latest 2 NR Accounts opened)
  • NR Term Deposit above Rs.2 Lakh or • RD with minimum monthly instalment above Rs.20,000/-
  • Get 1000 SIB REWARD points on opening the NRE/ NRO account together
  • Preference for 25% waiver on processing fees for Home Loans and Vehicle Loans.
  • Priority banking facility available for you and your family
  • UPI payment facility available
  • Airport lounge access with International debit card

By Prabeen