Hyderabad, 10th 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”.