South Indian Bank (SIB), has launched ‘NRE Savings - Diamond Account’

Indian bank’s NRI product
DOHA, Aug 12, 2008

The South Indian Bank (SIB), a leading bank in India, has launched ‘NRE Savings - Diamond Account’ targeting NRE customers who maintain high average balance in their saving bank accounts. This account offers multi-city features to the customers.

With the carefully thought-out value additions of this pioneering product, the NRIs who maintain an average balance of nearly QR4500 can enjoy free and unlimited Any Branch Banking (ABB) facilities, free and unlimited fund transfer to any other bank account in India through RTGS and NEFT by debit to NRE accounts.

The privileges also include free and unlimited purchase of Drafts/Payment Orders by debit to NRE accounts, free International ATM-cum-Debit Card for which annual maintenance charges are not collected, free withdrawal of cash through other Banks' ATMs in India, free fund transfer facility through Internet Banking, free utility payment and e-commerce services for Internet Banking customers and free SMS facility and no annual maintenance charges.

Presiding over the function, Dr V A Joseph, Chairman and CEO of the Bank, said: “South Indian Bank is striving hard to render personalized customer service using the latest technological capabilities.” Source ::: The Peninsula

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The FIRST among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act. The FIRST bank in the private sector in India to open a Currency Chest on behalf of the RBI in April 1992.

One of the earliest banks in South India, "South Indian Bank" came into being during the Swadeshi movement. The establishment of the bank was the fulfillment of the dreams of a group of enterprising men who joined together at Thrissur, a major town (now known as the Cultural Capital of Kerala), in the erstwhile State of Cochin to provide for the people a safe, efficient and service oriented repository of savings of the community on one hand and to free the business community from the clutches of greedy money lenders on the other by providing need based credit at reasonable rates of interest.