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 Savings Account
 Term Deposits
Savings Account
A Savings Account with us allows you to route all your personal financial transactions in a secure
and convenient way. With the power of technology based value added services, you are never
away from your Savings Account. We have different types of Savings Accounts to suit your exact

Types of Savings Account:-

• Regular Savings - With normal cheque book facility.

• Privilege Savings - With complete anywhere banking facility.
• Group Salary Savings Account - for every employee to meet the expectations.
• Junior Savings - For the students above age 12.
• An exclusive SB Account for Youth.
• MAHILA Savings - An attractive Savings Bank account exclusively for women.
• SB Invest - An exclusive account for Demat / Trading account holders.

Regular Savings

General Features

 Accounts can be opened in joint names of family members.

 Helps you and your family to accumulate savings.
 Cheques, Drafts, Interest warrants, Dividend Warrants etc. in Indian rupees and foreign
currencies can be collected and credited.
 Liberal withdrawal facilities.
 No Income tax deduction at source on interest.
 Standing instruction for remittance of insurance premium, rent and similar payments
carried out.
 Interest will be allowed at 3.5% per annum or at the rate fixed by RBI from time to time,
on a daily product basis.
 Nomination facility available

How to open an account

 Download the application form.

 Fill in the details and sign the form.
 Proper Introduction (you may contact nearest branch for more details).
 You may bring the filled up form, two passport-size photographs and documents like
Passport/Ration card/Voter's card/PAN card as proof of address to our branch.
Privilege Savings

South Indian Bank's privilege savings account offers the customer multiple advantages over the
Regular Savings Account.

Features (in brief)

 Accounts can be opened in joint names.

 Complete Any Branch Banking Facility.
 Payable at Par Cheques.
 International ATM cum Debit Card.
 Nomination facility available.

How to opt for Privilege Facility in your Savings Account

 If you are an existing Savings Account holder, you may download the Application form
from the link provided below, fill the same, sign and submit to your branch to convert your
Savings Account to a Privilege Account.
 If you are a new customer, you may contact our nearest branch for opening a Savings
Account. You may request for Privilege facilities while opening the account.

Group Salary Savings Account

South Indian Bank's Group Salary Savings Account (GSSA) is for the employees of various
business / service enterprises.This scheme offers multiple advantages over and above a regular
savings account, FREE of Charges!

Features (in brief)

 Available in 3 categories to suit the requirements of every employee

 FREE Any Branch Banking facilities.
 FREE fund transfer facilities.
 No minimum balance stipulations.
 No charges for not maintaining minimum balance.
 FREE Global ATM cum Debit card with out AMC charges.
 FREE usage of other bank's ATMs in India.
Junior Savings

With a mission to impart ‘Savings Habit’ among students South Indian Bank has come up with
this product named ‘SIB JUNIOR ’. This product is an SB account exclusively for students.

 Students having completed 12 years of age with an upper age limit of 23 years are
eligible to open a SB account with any of our branches. Introduction from the Principal /
Head Master / HOD & Photo Identity Card are sufficient for opening such an account.
Usual introduction is acceptable.
 SB account may be opened at least with a minimum cash remittance of Rs.10/-.
However, a minimum balance of the a/c is Rs 150/-, has to be maintained within a period
of 3 months.
 Free cheque books can be issued and free Internet based fund transfer may be allowed
when the account holder attains the age of majority (18 years) and also by keeping a
quarterly average balance of Rs.1000/-. Penalty for non maintenance of minimum
balance will be applicable in such accounts (Rs.250/- + ST per quarter as on date).
 Free ATM cum Global Debit Card: ATM cum Global Debit Card will be issued free of
 Parents can open an ABB account with any of our Branches for easy fund transfer.
 Free fund transfer will be permitted from Parents Account to SIB Junior Account.

Youth Plus Savings

In a fast developing country like India, the aspirations of the youth are sky high. The young
population of our country is the strength of our country. The recent changes in our corporate
identity are in tune with the aspirations of today’s youth. The Bank has dedicated this year for
youth empowerment.

Among various activities, a powerful savings bank product is designed exclusively for the youth.
South Indian Bank as a tech savvy bank has powered this product with the best technology

The bank with experienced front office staff with the support of latest technology is inviting every
Indian youth to join hands with us to enjoy a new banking experience.

Features *

 Admit age: 20 to 35 years Minimum balance Rs.1,000/-

 FREE Mobile Banking Service.
 FREE Personalised Cheque book.
 FREE usage of our ATM net work.
 FREE Depository account opening.
 FREE Any Branch Banking facility.
 FREE for life International Credit Card.
 FREE International ATM cum Debit Card.
 FREE Internet Banking facility & fund transfer.
 FREE subscription of Student’s Economic Forum by e-mail.
 Preference for Project work at bank, subject to availability of seats.

MAHILA Savings

South Indian Bank has launched a Savings Bank account exclusively for women called , “SIB:
MAHILA’.This packaged savings bank product is linked with recurring deposit with one year
‘house-to-house’ travel insurance and accident death insurance cover. This free insurance
cover is for a period of one year only from the date of opening of the account. Existing
Mahila account holder can renew the insurance cover for the second year on opening a
fresh Mahila RD account. The Mahila SB account should be opened in the name of a woman in
the age group of 18 years and above, while the RD a/c. can be in the name of any individual.
Please refer below for details on various value-added services offered through this scheme.

The two variations of the scheme are:

1.Mahila Savings Bank : can be opened with a minimum balance of Rs. 1,000/- and an R.D. for
a minimum monthly installment of Rs. 100/- for a minimum period of twelve months

2.Mahila Plus Savings Bank :can be opened with a minimum balance of Rs. 25,000/- and an
R.D. for a minimum monthly installment of Rs. 1,000/- for a minimum period of twelve months.

Term Deposits

Now you can earn a higher income on your surplus funds by investing in a deposit scheme of
your choice. We provide security, trust and competitive rate of interest. We also have schemes
which combine good returns with easy liquidity.

Salient features are,

 Nomination facility is available in respect of all deposit accounts.

 Interest upto Rs.10000/- per annum is exempted from TDS.

Loans are available on deposit accounts upto 90% of deposit amount.

Types of Deposits:-

 Kalpakanidhi - Interest is compounded quarterly.

 SIB Flexi Deposit - Automatic part closure to cover Savings Account deficit.
 SIB Tax Gain 2006 - Eligible for tax exemption under Sec 80 C.
 Fast Cash Deposit - Short term deposits with part closure option.
 Fixed Deposits - Interest is paid out quarterly/monthly.
 Recurring Deposit - Fixed Monthly installment deposit scheme.


 Reinvestment plan with interest-compounded quarterly.

 Fixed deposit for periods ranging from 6 months to 10 years.
 Compounding of interest quarterly - yields higher effective returns.
 Provision for automatic renewal at maturity.

How to open an account

If you already have a SB or Current account with our bank

 Download the application form.

 Filled application forms with SB/CA account numbers mentioned in the column for
introduction is required and no other documents are required

If you do not have SB or Current account with our bank

 Download the application form(from the link provided below).

 Fill in the details and sign the form.
 Proper Introduction (you may contact nearest branch for more details).
 You may bring the filled up form, two passport-size photographs and documents
like Passport/Ration card/Voter's card/PAN card as proof of address to our branch.
 You may register for the value-added services by filling up the respective forms.

SIB Flexi Deposit

General Features

 A fixed deposit linked to your Savings Bank account.

 Fixed Deposit maintained in units of Rs.1000/-
 You can link any fresh flexi deposit to your SB account
 Fixed Deposit is broken automatically on a Last In-First Out basis and minimum units
.transferred to SB a/c when the SB balance falls in deficit.
 Interest is paid out every quarter.
 TDS applicable.
How to open an account

If you already have a SB or Current account with our bank

 Download the application form.

 Filled application forms with SB/CA account numbers mentioned in the column for
introduction is required and no other documents are required.

If you do not have SB or Current account with our bank

 Download the application form.

 Fill in the details and sign the form.
 Proper Introduction.
 You may bring the filled up form, two passport-size photographs and other relevant
documents (as instructed by the Branch Manager) to our branch.
 You may register for the value-added services by filling up the respective forms.

SIB Tax Gain 2006

Government of India vide reference No.203/2006 dated 28.07.2006 has notified the scheme
“Bank Term Deposit Scheme-2006” effective from 01.04.2006, which was announced in the
recent Finance Budget. For unique identity, we have named the deposit scheme as “SIB-TAX
GAIN –2006 ".

The salient features of the scheme are given below:

1.An amount up to Rs.1 lac ( Minimum Rs.100/- and maximum Rs.1 lac in multiples of Rs.100/-)
deposited in the bank as Fixed / under Compound interest scheme for a period of 5 years is
eligible to be exempted from Income Tax under Section 80C of IT Act, 1961.

2. Amount deposited in the name of individual, joint (first name holder) or HUF (Karta) not
exceeding Rs.1 lac in a financial year is eligible for tax exemption.

3. Though nomination can be registered, NO nomination shall be made in respect of a term

deposit applied for and held by or on behalf of a minor.

4. The rate of interest will be the rate of interest applicable for Fixed deposits with maturity 5
years. Additional rate for senior citizens will be applicable to this deposit also.

5. Deposit can be transferred from branch to branch but not between banks.

6. This deposit shall not be pledged to secure loan or as security to any other asset.

7. This deposit shall not be encashed before the expiry of 5 years from the date of its receipt.

8. Interest on this deposit shall be liable to Income Tax on the basis of annual accrual or receipt
depending up on the simple interest or compound interest scheme and tax on such interest shall
be deducted as usual.

Fast Cash Deposit

General Features

 Ultra short fixed deposits which allow automatic renewal

 Deposit for 30, 46 or 91 days with cumulative or non-cumulative option
 Partial withdrawal permitted while balance continues to earn interest
 Freedom from visiting the bank for renewals-Automatic renewal facility
 Rate of interest as applicable for fixed deposits of like duration

How to open an account

If you already have a SB or Current account with our bank

 Download the application form.

 Filled application forms with SB/CA account numbers mentioned in the column for
introduction is required and no other documents are required.

If you do not have SB or Current account with our bank

 Download the application form.

 Fill in the details and sign the form.
 Proper Introduction.
 You may bring the filled up form, two passport-size photographs and documents like
Passport/Ration card/Voter's card/PAN card as proof of address to our branch.
 You may register for the value-added services by filling up the respective forms.

Fixed Deposits


 Simple interest will be paid quarterly.

 Monthly interest payout scheme is also available at discounted rate.
 For Short/long term investment.
 Deposits can be made for period ranging from 15 days to 10 years.
 Interest can be withdrawn periodically or transferred to other accounts as per instructions
 Can give auto-renewal instructions.
 TDS applicable.
How to open an account

If you already have a SB or Current account with our bank

 Download the application form.

 Filled application forms with SB/CA account numbers mentioned in the column for
introduction is required and no other documents are required.

If you do not have SB or Current account with our bank

 Download the application form.

 Fill in the details and sign the form
 Proper Introduction (you may contact nearest branch for more details)
 You may bring the filled up form, two passport-size photographs and documents
like Passport/Ration card/Voter's card/PAN card as proof of address to our branch.

Recurring Deposit:-


 Promotes regular savings - meant for fixed income/salaried group

 Fixed monthly installment for period ranging from 12 months to 120 months
 No income tax deduction at source on interest
• High yield
 Facility to remit installment through internet banking.

How to open an account

If you already have a SB or Current account with our bank

 Download the application form

 Filled application forms with SB/CA account numbers mentioned in the column for
introduction is required and no other documnets are required

If you do not have SB or Current account with our bank

 Download the application form

 Fill in the details and sign the form
 Proper Introduction (you may contact nearest branch for more details)
 You may bring the filled up form, two passport-size photographs and documents like
Passport/Ration card/Voter's card/PAN card as proof of address to our branch.
 You may register for the value-added services by filling up the respective forms.

80 Plus Deposits:-

80 Plus Deposit scheme was launched on 1st January 2009 to commemorate the 80th
anniversary of the bank. This product with higher yeild was offered for a limited period up to
31/03/2009. FREE accident death insurance cover up to Rs. 1 lac per individual aged up to 70
years, was an added attraction to this product. The deposit was accepted for a period of 39
months and the accident death insurance cover is available to the individual customers till the
pre-closure / maturity of the deposit. Frequently asked questions on the insurance cover and the
claim procedure are given below for the ready reference of our valued customers.

FAQs on 80 Plus Deposits:-

For whom is the insurance cover applicable?

Any individual, holding Eighty Plus Deposit, of less than 70 years of age as on date of deposit, is
eligible for the insurance cover. However, in case of joint account, the First Named person will be

Whether individual policies will be sent to the customers?

No. This is a group insurance policy, where the Bank pays / renews the premium.

If a depositor has multiple deposits, as first applicant, (at the same branch or in other
branches), under this scheme can the insurance cover be compounded?

No. Maximum eligible cover is Rs. 1 lakh.

On death of the insured, who will be eligible for claim?

Legal heirs of the insured (the 1st applicant).

What is the procedure to lodge the claim?

In case of a tragic death by accident, the legal heir(s) of the insured should intimate the Insurance
Company in the address below. The Claim Form is to be duly filled and submitted to Bajaj Allianz
with other necessary documents (FIR, Post Mortem report, Certificate showing proof as Legal
Heir(s), Photo identity proof of legal heir(s), etc. as required by the Insurance Company.

SIB Personal Loan Scheme

For meeting personal / family finance requirements including expenses towards purchase of
household articles/ white goods / electronic / computer equipments, peripherals/ expenses for
medical treatment / inland or foreign leisure travel / inland or foreign business travel / travel
abroad on employment contract # etc.

(# For persons traveling abroad on employment contract - Certified copy of international

qualifying examination like CGFNS / IELTS, certified copy of valid Passport; certified copy of
Employment offer letter / Work permit, certified copy of registration obtained by the recruitment
agency etc to be obtained)

The purpose of the loan should be indicated in the application form and proposal.

Target group:-
There shall be two types of Personal Loans.
• For Individuals
• Group Loans

Individual Loans:-

 Individuals permanently employed in reputed companies / firms / organisations /

Govt.service having remaining period of service equal to the repayment period.
 Practicing / employed Doctors - having professional Medical Degree
 Business men
 Other categories having sufficient income /IT Return and who are capable of remitting
• NRIs

Group Loans:-

To permanent employees of GOI and State Government , PSUs, Blue Chip companies and
reputed institutions etc.

Maximum quantum of loan:-

Maximum Rs. 3.00 lakhs subject to the following :

Salaried persons:- 15 times of the monthly net salary excluding the proposed loan deductions
subject to a maximum of Rs.3.00 lakhs.

Persons engaged in business/profession and filing IT Returns:- Equal to the annual income
declared as per the latest IT Return (without considering capital gains) subject to a maximum of
Rs.3.00 lakhs.

Persons travelling abroad on employment contract:- 75% of total expenses / 5 times of

monthly salary whichever is lower as per contract terms subject to a maximum loan of Rs. 3.00

NRIs:- 50% of the average annual remittance to their NRI account /spouse’s domestic account
(excluding bulk remittance) subject to a maximum loan of Rs. 3.00 lakhs.

Persons who do not come under the tax bracket and gives a declaration to that effect:-
Equal to the annual income declared by the applicant supported by appropriate documents to the
satisfaction of the Branch Manager, subject to a maximum loan of Rs.3.00 lakhs.

Individual Loans:-

 For doctors( as mentioned earlier) and (b) SB account holders whose salary is credited to
the account Guaranty optional
 For persons going abroad on employment Up to Rs. 1.00 lac – one guarantor.Above
Rs.1.00 lac – Property / acceptable collateral security for 125% of loan amount
 For others- at least one guarantor having Net Worth not less than thrice the loan amount.
Group Loans:-

One permanent employee of the organisation, who can be principal debtor as well as co-obligant
for one loan only.

Repayment period:-
Maximum 48 months(EMIs). In the case of group loans, single monthly payment covering the
total monthly instalments of all members of the group to be obtained from the institution.

Vehicle loans

Planning to buy a new car, commercial vehicles, or vehicles for agrarian puposes! We offer loans
for one and all. At minimal interest rates, and no hidden charges, these are very attractive.

*All loans are subject to the discretion of the bank and subject to such conditions as may be
stipulated by the Bank. Interest rates are subject to change without notice

Types of Vehicle Loans:-

 Mobiloan Personal - For Private Registration Vehicle.

 Mobiloan Commercial - For Commercial Registration/Taxi Vehicle.
 Mobiloan Agricultural - Vehicles For Agricultural Purposes.

Mobiloan Personal

Target Group :

• Salaried persons working in reputed companies/ firms/ organisations having remaining

period of service more than the repayment period fixed (2) Business men, professionals,
large scale agriculturists etc.

Type of vehicle : Any private registration vehicle

Cost of vehicle : Shall include Basic cost + duties + taxes + octroi + one time life tax +
comprehensive insurance premium for the first year.

Margin :

Depends on collateral security:

• 10% margin with 100%collateral
• 15% margin with 50% collateral
• 25% margin without collateral

Loan amount : For two wheelers , upper ceiling Rs.75,000/- No upper ceiling for other
categories. The total cost of the vehicle less the applicable margin shall be the loan amount ,
subject to the borrowers income level and repayment capacity.
Mobiloan Commercial

Type of vehicle : Any commercial registration/ / taxi vehicle

Cost of vehicle : shall include basic cost + duties + taxes + octroi + one time road tax +
comprehensive Insurance premium for first year

Loan amount : No upper ceiling fixed. The costs mentioned in the above column less the
applicable margin shall be the loan amount , subject to the borrowers income level and
repayment capacity.

Collateral Security : Please contact the nearby branch

Margin :

• 25% of cost of vehicle if collateral cover is less than 50%

• 15% of cost of vehicle if collateral cover is 50% or above but not fully covered
• 10% of cost of vehicle with full cover collateral .

Priority Sector Status : Advances to Small Road and Water Transport Operators (SRWTO)
owning a fleet of vehicles not exceeding ten vehicles, including the one proposed to be financed
shall be included under Priority Sector.

Repayment period : Maximum 60 months. Loan to be closed by Equated Monthly Instalments.

Upfront Fee : 0.50% of loan amount ( one-time)

Penal interest : 2% for the defaulted amount for the defaulted period.

Pre-payment penalty : Nil

*All loans are subject to discretion of Bank and conditions as stipulated by the Bank

Mobiloan Agricultural

Target group :
Agriculturists – individuals/ jointly with spouse/ Plantation companies

Type of vehicle :
Tractor with or without accessories, two wheelers, goods autos, jeeps, pick-up /delivery vans/
trucks etc for agricultural purposes.
Minimum land holding : Those having at least 1 acre of cultivated area .
Loan amount : Upper Ceiling Rs.10.00 lacs

Margin :

• 25% of cost of vehicle if collateral cover is less than 50%

• 15% of cost of vehicle if collateral cover is 50% or above but not fully covered( Power-
Regional Heads)
• 10% of cost of vehicle with full cover collateral

Collateral Security : Please contact the nearby branch

Special conditions : For tractors- the borrower must own a trailer/ other accessories or include
the same as an item for purchase .

Repayment period :
For tractors : Maximum 7 years
For other vehicles: Maximum 5 years .
Repayment can be by monthly / quarterly installments.

*All loans are granted at the discretion of the Bank and conditions as stipulated by the Bank.

Gold Loans

Gold! The name brings to mind images of wealth. At South Indian Bank, we value this age old
preferred investment option and offer you easy avenues for quick finance against this invaluable

Types of Gold Loans:-

 Gold Power - Overdraft against Pledge of Gold.

 Gold Rush - Gold Loans with attractive interest rate.

Gold Power

To be operated as an overdraft account against pledge of 22 carrot gold ornaments. Lending

against gold / silver bullion is prohibited. There is provision for release of the ornaments & re-
deposit of the ornaments without any restrictions.

Special features of the scheme

• Safety of the ornaments – Under custody of the Bank.

• Liquidity of the gold is ensured – by sanctioning overdrafts under pledge of ornaments.
• Availability of the ornaments for use at any time – there is provision for release of the
ornaments & re-deposit of the ornaments without any restrictions.

Target group : Individuals, Partnership & Proprietary Firms.

Type of facility : Overdraft against pledge of 22 carrot gold ornaments

Loan limits : Minimum Rs.0.25 lac , Maximum Rs.100 lacs

Security : Pledge of 22 ct Gold Ornaments

Rate of Interest : Click here to view the latest Rate of Interest

Rate per gram : as fixed by H.O from time to time.

Processing fee : 0.20% on each renewal / enhancement.

Penal interest : 2 % p.a

Period of sanction : 12 months; Can be renewed after paying interest.

Only 22 ct ornaments should be accepted for pledge . Borrower can operate this account as their
personal overdraft.

Gold Rush

Minimum amount of advance. : Rs.10,000/-

Period of Advance : 12 months.

Cutoff date for redemption/auction : 13 months.

Rate of Interest : Click here to view the latest Rate of Interest

Rate per gram of 22 ct.Gold Ornament : changes periodically.

Minimum Interest : Minimum for 5 days or Rs. 50/- whichever is higher.

Handling Charges : 0.25%

The scheme details are furnished in brief only. For more details please contact any of the
branches nearest to you. Click here for Branch Network

*All loans are granted at the discretion of the Bank and conditions as stipulated by the Bank.

Educational Loans

Moulding a generation with good education has always been one of our priorities.
Education lays the foundation for creating a new future for a youngster, and thereby to
secure his life. To this end, we have customised educational loans to suit any need. Be
it for further education overseas or to pursue couses within the country, South Indian
Bank offers them all.
Types of Educational Loans:-

 Vitjnan Pradhan Scheme - students desirous of pursuing professional courses.

 SIB-Excellence - for students seeking admission to premier educational institutions such
as IITs, IIMs etc.
 Vidyanidhi Scheme - exclusive for students securing admission in Professional colleges.

Vitjnan Pradhan Scheme

1. Name of the Scheme : VITJNAN PRADHAN SCHEME (VPS)

2. Target Group : Students desirous of pursuing professional courses in India and abroad.

3. Courses eligible & amount of loan : Various courses For details please contact the branch.

4. Purpose of finance
• Fees
• Caution deposits and refundable deposits
• Cost of study books / equipments
• Cost of uniform
• Hostel Boarding and lodging
• one time premium of life insurance policy without maturity return covering the entire
period of loan with sum assured equal to the loan amount.

Borrower shall be the student him/herself if he/she is major (completed 18 years). In the case of
minor students, parents shall be the borrowers.

B. Minimum Margin
• Up to Rs. 4 Lacs : NIL
• Above Rs.4Lacs :Studies in India : 15%
• Overseas studies : 25%

Upto Rs 4 lacs - Guarantee of parents. No security required

Above Rs.4 lacs -Guarantee of parents together with collateral security

D. Period of loan / Repayments

Repayment period will start from 1 year after qualifying exam or six months after obtaining
employment, whichever is earlier. For overseas studies, the holiday is restricted to 6 months fixed
after the qualifying examination.

Loan should be repaid in 60 equal monthly instalments after the holiday/moratorium as above.

The scheme details are furnished in brief only. For more details please contact any of the
Penal interest : @2% to be charged for loans above Rs.2 lacs for the overdue amount and
overdue period.

Processing/ upfront charges : NIL


1. Name of the Scheme:- SIB ‘Excellence’

2. Objectives:- To attract talented youths pursuing professional studies in the top
prestigious educational institutions in India to our bank .
3. Nodal Branches:- 1.Ahmedabad 2.Bangalore-City 3.Lucknow 4.Indore
5.Kolkata-G .C Avenue 6.Kozhikode Main 7.Delhi-Con.Place 8.Mumbai-Powai
9.Chennai-T.Nagar / Nungambakkam 10.Hyderabad

Other branches can send recommendations to their nearest nodal Branch /R.O.
4. Target :- Group Students getting admission through general merit in premier
educational institutions in the country .
5. Amount of loan:- Max.Rs.10.00 lakhs subject to actual requirement, whichever
is lower.
6. Margin:- Upto Rs. 4 .00 lakhs : NIL.
Above Rs. 4.00 lacs : 5%
Scholarships /assistantship can be included in margin . Margin may be brought in
on year-to-year basis as and when disbursements are made.
7. Purpose of finance:- a) Fees payable to College including examination
/library /laboratory fees
b) Caution deposits and refundable deposits(not exceeding 10% of tuition fees
for the entire course).
c) Cost of study books / equipments / computers
d) Cost of uniform
e) Hostel Boarding and lodging
f) One time premium of life insurance policy (without maturity return) covering the
entire period of loan with sum assured equal to the loan amount.
8. Mode of payment:- Payment, preferably through RTGS direct to the institution /
supplier for college/hostel fees, books, uniform, computers etc as far as possible.
RTGS charges may be waived. The paid bills / vouchers (not older than 3
months) may be reimbursed by credit to borrower’s account.
9. Borrower/ Guarantor:- In the case of (major) students – borrower to be the
student him/herself along with atleast one of his/ her parents as guarantor.
Networth of the guarantor/s should not be less than the loan amount.

If parents are not alive, close relative should be guarantor.

(Either one guarantor with net worth not less than the loan amount or more than
one guarantor with total networth not less than the loan amount).
In the case of minor students- one of the parents to be the borrower along with
other parent/ close relative as guarantor.

Close relative for this purpose means related to the borrower as follows:- parents/ brother
/sister /sister’s husband / paternal or maternal uncle / father’s sister/mother’s sister .

10. Security:- Guarantee by one of the parents/close relative .

Life Insurance policy (Single Premium) for equal amount of loan and tenure to be
got assigned in bank’s name .
11. Period of loan / Repayment:- Repayment will start from 1 year after qualifying
exam or six months after obtaining employment, whichever is earlier. Loan
should be repaid in 60 equal monthly instalments after the holiday/ moratorium
as above. No prepayment penalty. Interest during holiday period may be
funded /remitted as per option given by the borrower at the time of availment of

Some of the other terms:- Only Indian Nationals (including NRIs) are eligible

Loan should not be granted for the payment of capitation fee / donation

Copy of the mark sheet / progress report of the student /borrower - semester wise will have to be
produced to the bank . In case the student fails in any annual / semester examinations during the
course of his/her study, continuance of the loan should be reviewed by the sanctioning authority.

The borrower should submit application with identity proof including passport details, if available.
Individual worth statements of all the signatories and relevant record/proof for financial
requirements for the entire course, including admission ticket, if any to be obtained.

Tariff of fees, refundable deposits, hostel fees, details of eligible stipend etc. should be
certified by the educational institution.

Books/ instruments to be purchased should be certified by the programme co- ordinator .

The borrower to open SB account with the nearest / loan emanating branch of our bank.

Penal interest as per rules.

Vidyanidhi Scheme

The Scheme is beneficial for students who have newly secured admission to selected
Professional Colleges in Kerala. The Scheme enables the student to pay 'refundable deposit'
demanded by the educational institution. Application must be in the name of the student if he/she
has completed 18 years. In case of minor students, parents shall be the borrowers. Payment
direct to the College Management as prescribed in the prospectus.
Agriculture Loans

At South Indian Bank, we have always believed that agriculture is one of the mainstays of Indian
economy and that if the farmers are given the right kind of support at times when they most need
it, the sector can excel. Our agriculture loans are tailored to meet farmer's needs.


Target Group : Individuals and / or jointly with spouse / parents or joint Property owners.

Net worth by way of landed property should be at least twice the loan amount.

Purpose : Any agricultural / allied activity.

Eligibility : Based on unit cost of NABARD / scale of finance of the Agrl. /

allied activity undertaken by the borrower.

Quantum of loan : Term Loan – Minimum Rs. 1.00 lac

Maximum Rs.25.00 lacs

Rate of Interest : Click here to view the latest Rate of Interest

Repayment capacity : 75% of the annual income certified by the Br.Manager will be treated as
the annual repayment capacity of the borrower.

Security :

• Primary : Hypothecation of crops / assets created.

• Collateral : Please contact the nearby branch.
: Hypothecation of crops / assets created.

Repayment period : Up to 7 years in monthly / quarterly / half yearly installments.

Disbursement : Loan proceeds to be credited to the SB/CD account of the borrower.

Foreclosure penalty : 2% of the outstanding amount / DP at the time of closure, whichever is


Other terms & conditions :

 Spouse to join documents, in case of married persons.
 Declaration from the borrower to the effect that loan will be utilised for Agricultural / Allied
 Loan should not be granted to liquidate any existing liabilities other than agricultural
 Flexibility up to 25% of the unit cost / scale of finance permitted to arrive at quantum of
 Processing charges : 0.25% for loans up to & including Rs.10.00 lacs
 Upfront charges : 0.50% for loans above Rs.10.00 lacs.
 Category of loan : Priority Sector – Agriculture
 The scheme details are furnished in brief only. For more details please contact any of the

Flexi loan

Flexiloans can be extended to residents and non-residents . Flexiloans can be extended only in
the form of Term Loans.

The quantum of loan will be based on the annual income and repayment capacity of the borrower
, security offered etc, unlike the case of project / industry loans , where finance is granted on the
strength of the project / activity chosen.

Target Group : High Networth individuals ( single/joint)

Purpose of the loan : Purpose of the loan should be specified in the application form and
sanction order . Purpose should not be for hoarding, speculation or activity restricted by GOI or
State Governments or local bodies.

In the case of NRIs , loan shall not be granted for the purpose of investment in non- banking
business or in Agriculture or Plantation or Real Estate business or construction of Farm House or
for trading in Transferable Development Rights (TDRs). Branches to obtain an undertaking also
to this effect from the NRI borrowers.

Quantum of loan : Minimum : Rs.2.50 lacs

Maximum :

• against prime urban property - Rs.50.00 lacs

• against non-urban residential property : Rs.30.00 lacs

Loans above Rs.50.00 lacs will not be considered under Flexiloan Scheme

The annual repayment obligation shall not exceed 75% of the total an annual income from all
sources for business people . For salaried class, annual repayment obligation shall not exceed
60% of the annual income .

Value of security : Prime urban property (residential/non-residential) or Non- urban residential

property : value at least 200% of the loan amount.

Rate of Interest : Click here to view the latest Rate of Interest

Upfront Fee : one-time Upfront fee 0.50% of the loan amount irrespective of the quantum of
loan .

Mode of disbursement : by credit to the borrowers SB/CD/NRO account

Repayment Period : Minimum 6 months; Maximum 60 Months through EMIs. If the loan is to be
closed before 6 months, interest applicable for full 6 months to be collected. For loans with
maturity period up to 12 months bullet repayment can be fixed.

Penal Interest : 2% p.a. for the defaulted amount for the defaulted period.

Other terms & conditions : a) In the case of married persons, spouse also should join the

Other Loans

Today's financial market demands creates unique needs. We are always on the forefront to help
our customers to achieve their financial goals. We have loan products tailormade for specific

 SIB fortune - Loan For Subscribing To IPO/Public Issue Of A Company

 Rental Loan Scheme - Loan Against Rent Receivables

SIB fortune

Purpose : This is a product to finance IPO / PUBLIC ISSUE of a company.

This scheme will not cover advance against shares acquired from the market.
Issues of existing profit making companies for the last 3 years specially identified by the bank
alone are eligible for finance.

Authorised branches : Coverage of the scheme is limited to only 8 branches viz ; Mumbai
NP, New Delhi (CP), Calcutta GC Avenue, Ahmedabad, Chennai GT, Coimbatore Raja
Street, Mumbai Fort and Ernakulam Banerji Road .

Eligibility : Employees of reputed companies, professionals, business men.

Amount of loan : Minimum Rs.1 lac and Maximum Rs.5 lacs.

Rate of Interest : Click here to view the latest Rate of Interest

Margin on issue price : 50%

Upfront fee :0.50%

Repayment Period : 60 months

An account opened strictly observing KYC norms is a prerequisite for extending IPO finance.
Advance will be given only against shares offered in demat form . Anti Money Laundering
(AML) guidelines must be strictly followed.

Rental Loan Scheme:

Loan Amount : Depends on the rent terms. No higher ceiling for loan fixed

Purpose : Purpose for which loan is availed must be shown in the application. Purpose should
not be for hoarding, speculation or activity restricted by GOI or State Governments or local

Primary Security : Assignment of lease rentals.

Collateral Security : If lease agreement is not registered 100% collateral security is necessary.

Loan Amount, Margin

Category Margin

• Amount equal to future rentals discounted without any

collateral security.# (present value of future Nil
stream of rent receivables)
# provided the lease agreement is registered
• Amount of future rentals ( without discounting) 25% of the full rent
fully covered by collateral security receivable

In the case of category (b) where future rental may not be sufficient to cover the loan
amount , the borrower should have alternate source of income to substantiate the repayment.
( by verifying the audited financial statements, BM’s income certificate, IT returns, Salary
certificates etc).

Repayment : As EMI equal to un-expired lease period or extended lease period subject to a
maximum of 7 years.

Upfront fee : 0.50% of the loan amount

Penal interest : 2 % on the defaulted amount for the defaulted period.

10. General Conditions :

• The borrower should be known to the bank or duly introduced.
• The tenant should be a MNC, Bank, Financial institution, Insurance Company, Blue Chip
Company, Reputed Corporation, PSU, Government Dept., Quasi Government etc.
• Loan repayment period will be the remaining period of Lease period or extended lease
• Irrevocable PA should be executed by the lesser/ borrower in favour of the Bank to
collect the future rent from the lessee which should be accepted and be registered with
the lessee/ tenant who should undertake to pay the lease rentals direct to the Bank.
• If there is option in favour of Lesser for incremental rent after a specific period, as per
agreement, the incremental rental value shall be included for the calculation of the loan
• If the Lease agreement has an option clause either in favour of Lesser or Lessee to
vacate the premises during the Lease period, the Lesser & Lessee along with the lender
(Bank) should execute a tri-partite agreement in which Lessee should agree to deliver
their possession direct to the Bank, Lesser should agree to allow the Bank to let out the
premises till the expiry of the original lease period and receive rent directly from the
lessee. Lesser through the agreement should also authorise the Bank to let out the
premises & hand over the possession to a fresh lessee for a period up to the expiry of the
original lease agreement. The incremental lease rental if any shall be credited to the loan
• Only post TDS Rental amount will be accepted for calculations.

OTS scheme for Micro & Small Enterprises (MSE)

Salient features of Policy for Non-discretionary One Time Settlement scheme for Micro & Small
Enterprises (MSE) Sector.


Micro & Small Enterprises (MSE) sector constitute a growth engine of the economy with
significant contribution to GDP , exports and employment opportunities. Besides providing depth
to industrial base of the economy, the MSEs also lead to entrepreneurial development and
diversification of industrial sector. With the services sector dominating the MSE, and MNCs
outsourcing their various requirements to Indian service providers, the scope for MSE finance has
increased even further. As per the Priority Sector guidelines issued by RBI, only Micro & Small
Enterprises segment will qualify for inclusion under priority sector.


As per RBI stipulations, the following items come under the purview of MSE sector.

Enterprises Units engaged Units engaged in

inmanufacturing/ providing/
processing of Goods rendering of Services.

Micro Enterprise Investment in plant and Investment in equipment

machinery not exceeding not exceeding Rs.10 lacs.
Rs.25 lacs.

Small Enterprise Investment in plant and Investment in equipment

machinery exceeding exceeding Rs.10 lacs nut
Rs.25 lacs not exceeding Rs.2
but not exceeding Rs.5 Crores

As per directions of RBI, Bank has put in place a policy for Non-discretionary One Time
Settlement scheme for recovery of Non performing loans in MSE sector.

Quantum of OTS:

In the case of loans granted to Micro & Small Enterprises (MSE) , the functionaries are
permitted to allow settlement even if there is no yield or even with write off of a portion
principal amount subject to their sanctioning powers. NPA accounts in MSE sector can be got
closed by OTS wherein bank allows the borrower certain concessions in principal/interest or
both, provided the account is closed within a specified period.

In cases of advances, which are fully secured either by primary or collateral securities, the
settlement will be allowed, taking into consideration the reasonable value of security

The level of sacrifice to be allowed in an account shall be considered after taking into account

history of the account, the nature of default (willful or otherwise), value of securities available,
resourses of the borrower etc and shall be considered on a case to case basis

All settlement proposals should be submitted to the branch concerned .

Life Insurance

The South Indian Bank Ltd. has entered into a tie up with the Giant in the Life Insurance
Sector - LIC of India for soliciting Life Insurance policies for our customers. LIC is the only
insurance company whose policy proceeds are guaranteed by the Government. Through this
tie up, the banking expertise of The South Indian Bank Ltd. and the Risk Management
expertise of LIC of India will be combined to provide excellent life cover policies and
investment option to our customers. All the products of LIC will now be available through our
branches. It opens up a reliable and trustworthy investment avenue, making SIB a one stop
shop for all financial requirement.

Health Insurance
Good Health Plan:

Hospitalisation expenses / medical treatment have now increased considerably. Once you
are sick and hospitalized, then you have no other choice, but to avail the best health services,
spending your hard earned savings. Realizing this eventuality, we now offer an excellent
health insurance product from M/s. Cholamandalam M S General Insurance Company. This
product is available to our SB / CD customers, including NRIs (for expenses incurred in
hospitals in India) exclusively through the South Indian Bank branches. A five member family
(self, spouse and 3 children) can avail a family floater policy for Rs. 2 lakh, just for an annual
premium of Rs. 5,000/- (inclusive of Service Tax). Cashless hospitalisation facility is also
available in over 2300 hospitals across India.

"The South Indian Bank Limited (SIB)" at any time is not liable issuing insurance certificate
and settle claims as per the terms and conditions of policy. It is the sole responsibility of the
M/s. Cholamandalam M S General Insurance Co. Ltd. who had insured the borrower
accepting the insurance premium. You may please complete all the procedures prescribed by
the insurance company for timely settlement of the claims if any.

• General Insurance

South Indian Bank has business with M/s. Bajaj Allianz General Insurance Company Limited , a
joint venture between Bajaj Auto Ltd., India's leading 2 & 3 wheeler manufacturer and Allianz AG,
the world's largest general Insurance company.

As a Corporate Agent , South Indian Bank has already started distributing various general
insurance products to the customers through its own branches.

General Insurance can be broadly classified into:

Fire Insurance

 Liability Insurance
 Marine Insurance
 Motor Insurance
 Medi Claim
 Travel Insurances

Fire Insurance
Areas of coverage
• Buildings
• Machinery and Accessories
• Stock and stock in process
• Contents including furniture
What Can Be Insured?
• Dwellings, Offices, Shops, Hospitals(Located outside the compounds of
industrial/manufacturing risks)
• Industrial / Manufacturing Risks
• Utilities located outside industrial/manufacturing risks
• Machinery and Accessories
• Storage Risks outside the compound of industrial risks
• Tank farms / Gas holders located outside the compound of industrial risks
Covering Include
• Fire
• Lightning
• Explosion/Implosion
• Aircraft damage
• Riot, Strike
• Terrorism
• Storm, Flood, inundation
• Impact damage
• Subsidence , landslide
• Bursting or overflowing of tanks
• Bush fire etc.
Some Add on covers are………….
• Terrorism
• Removal Of Debris
• Architects, Surveyors, Consulting Engineers fees
• Earthquake (Fire and Shock only)
• Spontaneous combustion
• Startup expenses
• Spoilage Material Damage Cover

Leakage and Contamination cover

Liability Insurance

For Public

The Public Liability Act, 1991 was made effective from 1st April 1991. The object of this Act is to
provide through insurance immediate relief to persons affected due to “accident” while “handling”
“hazardous substance” by the owners on “no fault liability basis”. This has also been brought
under Tariff. The definition of “Owner” is so comprehensive as to cover any person who owns or
has control over any hazardous substance at the time of accident. This includes any Firm or its
partners. Association or its members, Company or its Directors and all other persons associated
and responsible to that Company in the conduct of their business.

The various terms like “Accident”, “Hazardous substances” as defined in the Act are given below.

“Accident” means an accident involving a fortuitous, sudden or unintentional occurrence while

handling any hazardous substance resulting in continuous, intermittent or repeated exposure to
death of, or injury to any person or damage to any property but does not include an accident by
reason only of war or radioactivity.

“Handling” in relation to any hazardous substance, means the manufacture, processing,

treatment, package, storage, transportation by vehicle, use, collection, destruction, conversion,
offering for sale, transfer or the like of such hazardous substance.
“Hazardous Substance” means any substance or preparation which is defined as hazardous
substance under the Environment (Protection) Act, 1986 and exceeding such quantity as may be
specified by notification by the Central Government.

“Hazardous Substance” means any substance or preparation which, by reason of its chemical
properties or handling is liable to cause harm to human beings, other living creatures, plants,
micro-organism, property or the environment (as per the Environment (Protection) Act, 1986).

Marine Insurance

Who can insure?

Owners or bankers of goods in transit/shipment

What all can insure?

• export and import shipments
• goods in transit by rail, sea, road, air or post
• goods carried by coastal vessels plying between the various ports within the country
• cargo transported by small vessels or country craft over inland waters
• goods moved from place to place by river transport.

The policy covers loss/damage to the property insured due to:
• Fire or explosion; stranding, sinking etc.
• Overturning, derailment ( of land conveyance)
• Collision
• Discharge of cargo at port of distress
• Jettison
• General average sacrifice, salvage charges
• Earthquake, lightning
• Washing overboard
• Sea, lake, river water
• Total loss of package lost overboard or dropped in loading or unloading
• War and SRCC is specifically covered

This policy is valid for a single voyage or transit. The policy will be issued before the voyage
starts. The coverage will cease immediately on completion of the voyage. The specific voyage
policy must show complete details of the risk..It should contain particulars of conveyance/Vessel
name/ Bill of Lading or Way bill and date , sum insured ,terms and conditions of cover, voyage ,
cargo description etc like all other marine policies.

Annual policy

This policy may be issued to cover goods in transit by road or rail or sea from specified depots or
processing units owned or hired by the insured. The goods covered must belong to or held in
trust by the insured . These policies can not be issued to transport operators , clearing ,
forwarding and commission agents or freight forwarders or in joint names.. They can not be
assigned or transferred. For such policies the sum insured should not be less than Rs 5000/-.
Motor Insurance

• Motor vehicle which includes private cars, Motorized Two wheelers and Commercial
vehicles excluding vehicles running on rails.

• Owners of the vehicle, Financiers or Lessee, who have insurable interest in a motor

Section II (Liability) of Package Policy :

1. Liability to third parties bodily injury and or death and property damage

2. Personal accident cover for the owner driver for a specified sum insured

The following are payable under Section II of the Package Policy subject to the limit of liability laid
down in the Motor Vehicles Act :
• The insured's legal liability for death / disability of third party
• Loss or damage to third party property
• Claimant's cost as decided by the court
• All costs and expenses incurred with company's written consent.

• In case of death of an Insured person, entitled to indemnity for a liability incurred under
this policy, his legal representative will be indemnified in place of insured, if he observed
all conditions as the insured himself.

Section I (Own Damage - OD) of Package Policy:

Section I of package policy covers loss or damage to the vehicle and / or accessories due to
• Accidental external means
• Fire, Self ignition, lightning
• Burglary, house breaking or theft
• Terrorist activity
• Riot, Strike and Malicious Damage
• Earthquake
• Flood, cyclone and Inundation etc
• While in transit by rail, road, air, elevator, lift or inland waterways
• Landslide or work slide

None of the above perils can be excluded from the scope of a policy.

Loss or damage to accessories by burglary/house breaking/theft

1. For private car it is covered

2. In case of Motorized Two Wheelers this can be covered on payment of an additional premium
at 3% of the IDV of such accessories

3. Loss or damage to Lamp, Tyres, mudguard and / or bonner side parts, bumpers etc., can be
covered on payment of additional premium. This is applicatble only to Commercial Vehicles.

If the vehicle is disabled in an accident, cover is provided for the reasonable cost.

Medi Claim

Expenses incurred by the insured for hospitalisation for illness / diseases or injury sustained
(domiciliary hospitalisation also payable as per policy). These include Hospital charges ( Room,
Boarding & Operation theatre ) fees for surgeon, Anaesthetist Nursing, specialist etc., diagnostic
tests, cost of medicines, blood, oxygen etc., cost of appliances like pacemaker, artificial limbs

• Any person in the age group of 5 to 75 years Children between 3 months and 5 years can
be covered only along with parent/s.
• Institutions ( Government or Private ) for their employees
• Clubs / association for their members in the said age group
• Group schemes for homogenous groups of more than 50 persons.

What will pay

• Domiciliary hospitalisation benefits can be excluded under group mediclaim policy and a
premium discount can be availed.

• Exemption under income tax (80D of Income Tax Act) for Premium paid by cheque
• A discount of 10% of total premium for coverage of family under a single policy
• Actual hospitalisation expenses of various types listed above subject to a
maximum of Rs. 15,000/- to Rs. 5,00,000/- depending upon the sum insured chosen at
the inception of the policy ( sum insured is maximum liability under the policy )
• Actual domiciliary hospitalisation expenses limited to Rs. 3,000/- to Rs. 50,000/-
depending on the sum insured chosen at inception
• Cost of health check up reimbursable at the end of 4 continuously claim free underwriting
years limited to 1% of Average sum insured of 4 claim free years
• The sum insured will be increased by 5 % cumulative bonus for every claim free year. If
there is a claim in a policy with cumulative bonus 10% of the sum insured will be reduced
from the earned bonus
Maternity expenses incurred in Hospital / Nursing Home as in-patient subject to limit of sum
insured or Rs. 50,000/- whichever is lower on payment of extra premium and policy being
extended to cover maternity benefits. This benefit is only available in group policies.
All terms, benefits, conditions of cover are subject to the definitions of
various terms under policy.

Travel Insurances

Our Baggage Insurance Policy covers all accompanied baggage during a journey like
suitcases,trunks etc., containing the baggage and additions during the journey.

• It covers accompanied baggage(not dealers', stock or travellers samples) during a

specified journey (including air travel).Suitcases, trunks etc., containing the baggage and
additions can also be insured provided they are declared specifically before the
commencement of the journey
• The policy provides cover against loss or damage to accompanied personal baggage due
to fire, riot and strike, terrorist activity or theft or accident during the course of journey
including stoppages en route anywhere in India
• Insured and insured’s family members in respect of their baggage as specified above

This policy covers persons whilst on a tour or a pilgrimage.Groups of individuals who go on study
tour, educational trips or pilgrimage. Educational institutions, tour operators, travel agents, clubs,
associations etc., who arrange tours, picnics, yatras etc can avail this cover for persons going on

a) Death or disablement ( Permanent Total or Permanent Partial ) due to accident, hospitalisation


b) additional expenses towards alternative travel

arrangement due to detour or cancellation caused by accident to carrying vehicle / train and c)
loss / damage to baggage whilst on tour.

• Death, PTD 100 % Capital Sum Insured ( CSI )
• Loss of one limb or one eye 50% of Capital Sum Insured.

Permanent Partial disablement varying percentages of CSI as per policy

EXTENSIONS :Following covered at an additional premium

• Medical expenses incurred up to 25% of claim or 10 % of sum insured which ever is
lower Loss / damage to accompanied baggage subject to limits of Rs. 1,000/- or Rs.
2,000/- (depending on CSI chosen)
Additional expenses incurred towards alternative travel arrangement on account of detour /
cancellation subject to a limit of Rs. 1,000/- or Rs. 2,000/- (depending on CSI chosen) - if detour
arises by loss / damage to mode of transport by Act of God.

Export Credit Guarantee Corporation (ECGC):

The South Indian Bank Ltd. is appointed as the Corporate Agent of Export Credit Guarantee
Corporation of India (ECGC) for marketing the Exporter’s Credit Insurance Policies.

Export Credit Guarantee Corporation of India Limited (ECGC) was established in 1957 by the
Government of India. It functions under the administrative control of the Ministry of Commerce &
Industry, Department of Commerce, and Government of India. It is managed by a Board of
Directors comprising representatives of the Government, Reserve Bank of India, Banking,
Insurance and Exporting community. ECGC is the fifth largest credit insurer of the world in terms
of coverage of national exports.

ECGC provides a range of credit risk insurance cover’s to exporters against loss in export of
goods, failure of buyers and also other unforeseen losses. The customers of other banks may
also approach our branches for the credit insurance policies of ECGC.

Credit Insurance Policies:

• SCR or Standard Policy

• Small Exporters Policy
• Specific Shipment Policy (Short Term)
• Export Turnover Policy
• Services Policy
• Construction Works Policy
• Specific Policy for Supply Contract
• Insurance Cover for Buyer’s credit and Line of credit
• Export (specific buyer’s) Policy
• Buyer Exposure Policy
• Consignment Exports Policy
• Software Project Policy
• IT Enabled Services Policy

Online Insurance

Health Insurance

Medical expenses are surging day by day. Good and quality medical care is becoming a dream
for common people. Answer of the day for this problem is health insurance. It helps people to
cover their medical expenses. Health insurance is becoming a necessity in today’s life. South
Indian bank in association with Bajaj Allianz provides our customers quality health insurance
products. The main products offered are:


Home Insurance

Home insurance helps to protect your Sweet Home from burglary, theft & fire. South Indian Bank
in association with Bajaj Allianz provides online home insurance.


Motor Insurance

Motor insurance helps to cover loss due to accident. South Indian Bank in association with Bajaj
Allianz now provides the facility to insure your vehicles online.


Travel Insurance

Whether travel is for business or pleasure, it involves risk. South India Bank in association with
Bajaj Allianz provides online travel insurance. It is safe and fast, which can be bought sitting in
the comfort of your office or home.


By clicking the ‘Subscribe Online’ button, you will be taken to resources located on servers
maintained and operated by Bajaj Allianz over whom SIB does not have any control and SIB
accepts no responsibility or liability for any of the material contained on those servers. You will be
using such hyperlinks and third party websites at your own risk and SIB will not be liable for any
damages or losses, direct or indirect, arising out of or in connection with your doing so. SIB is not
in any way liable for the contents of any of these linked websites or web pages. By providing
hyperlinks to an external website or web pages, SIB shall not be deemed to endorse,
recommend, approve, guarantee, indemnify or introduce any third parties or the services /
products they provide on their websites. When you click on the link to the external websites,
please note that you are leaving the SIB's website and our Policies and terms & conditions will
cease once you leave our website. SIB is not a party to any contractual arrangements entered
into between you and the provider of the external website unless otherwise expressly specified or agreed
to by SIB. Such external websites are governed by their respective policies.
• Money Transfers

Fast, reliable and with minimal charges, money transfers with South Indian Bank is a no-hassle
affair. Be it within the country or abroad , our online money transfer services, make the business
of transferring money look one of the easiest jobs. With all our branches networked under the
Core Banking system, you can send and receive money in an instant and meet your urgent

Domestic Transfers

Using the power of 100% networked branches under Core Banking System, we have devised fast
methods of transferring money from/to your account with us. We are also active participants of
the latest money transfer schemes launched by Reserve Bank of India. This allows you to
instantaneously send and receive money to/from any other Bank account.

 SIB Fast Money - Deposit cash/transfer money from any branch

 RTGS - High value transfers from/to any other Bank account under Real Time Gross
Settlement System of RBI
 NEFT - Transfers from/to any other Bank Account under National Electronic Fund
Transfer System of RBI
 Demand Drafts - Traditional method of sending Demand Drafts

SIB Fast Money

SIB FAST MONEY is the easiest, quickest and cheapest mode of transferring money to any
South Indian Bank Account. This scheme enables online credit to any Savings Bank, Current
Account or Over Draft Account maintained in any net-worked branch of the Bank, thanks to South
Indian Bank’s Core Banking Solution. What is more, it is SAFE AND FAST !

• Any Savings Bank Account (OR) Current Account (OR) Over Draft Account in any of our
networked branch can now receive instant remittances.
• The remittance can be made from any networked branch spread across the country.
• You can also use this facility to quickly send funds, to any person who has an account in
any of our networked branches. If required, the receiver can immediately withdraw the
money using his ATM card or from his branch.
• The remitter can be a customer or even a non-customer. If the remitter is a customer, the
funds can be provided at his branch by giving a cheque on his account or by remitting
cash at any of the networked branches. If the remitter is a non-customer, he can directly
remit cash at any of the networked branches.
• The commission collected for this Electronic Fund Transfer is nominal.
• As there are no extra charges for the instant credit and as the postal charges are not
included, the SIB FAST MONEY charges are effectively lesser, making it the cheapest
mode of INSTANT money transfer.
• As the credit happens instantaneously at the receiving branch end, you save on the time,
which used to take for a Mail Transfer/Demand Draft to be delivered at the destination.
• There are no special minimum balance requirements for using this facility.
• You can remit up to a maximum amount of Rs.2,00,000/- per transaction.
• The remitter need not be a customer of South Indian Bank.


(Real TIme Gross Settlement System)

RTGS is an electronic payment system, which provides online settlement of payments between
financial institutions. In this system, payment instructions between banks are processed and
settled individually and continuously throughout the day. Through RTGS, the customers of South
Indian Bank can make payments to the beneficiary’s a/c in another bank and vice-a-versa. Payee
banks and their customers receive funds with finality, during the day, enabling them to use the
funds immediately without exposing themselves to risk. It is a highly secured system using PKI
and includes signing and encryption. The South Indian Bank started RTGS operations from 16th
July 2004 onwards. All the branches of the Bank are RTGS enabled. Customers of all our
branches can avail RTGS services for transferring funds to accounts of other banks; provided
those bank branches are also RTGS enabled.

For payments through RTGS, the remitter (customer) is required to submit the 'RTGS Funds
Transfer Application Form’ along with his/her cheque for the amount to be transferred plus bank
commission at any of our networked branches. The remitter shall be responsible for the accuracy
of the particulars given in the RTGS funds Transfer Application Form.

Fund Transfer Amount

Minimum amount for RTGS transaction is Rs. 1.00 lac.


RTGS payments :
• Upto 5 lakhs : Rs.25/- per transaction
• 5 lakhs & Above : Rs.50/- per transaction

RTGS receipts : NIL


National Electronic Funds Transfer (NEFT) system is an electronic funds transfer system
introduced by Reserve Bank of India to facilitate banks to transfer funds electronically from one
customer account of a NEFT participant bank branch to another customer account of any other
NEFT participant bank branch in India in an efficient, secure, economical, reliable and expeditious

The NEFT system in contrast with the RTGS system settles in batches. Currently there are six
settlement batches daily in NEFT. At present RTGS system can be used to send only high value
transactions, while NEFT can handle low value transactions also inclusive of paisa component.

South Indian Bank has started live NEFT operations from 1st March 2007 onwards with all the
branches enabled to do NEFT operations. Customers of all branches of South Indian Bank can
avail NEFT services for transferring funds to accounts of other banks; provided those bank
branches are also NEFT enabled.


For payments through NEFT, the remitter (customer) is required to submit the 'NEFT Funds
Transfer Application Form’ along with his/her cheque for the amount to be transferred plus bank
charges at any of our branches. The remitter shall be responsible for the accuracy of the
particulars given in the NEFT Funds Transfer Application Form.

Fund Transfer Amount

There is no upper value limit or lower value limit for putting through an individual NEFT
transaction. NEFT transactions can be done inclusive of paisa component.


NEFT - Payments

Upto 1 lakh :Rs.5/- per transaction

1 lakhs & Above :Rs.25/- per transaction

NEFT receipts: NIL

Demand Drafts

Demand Draft

In addition to the online services, we also offer traditional facilities such as issual of

• Demand Draft
• Banker's Cheques
• Payable at Par Cheques (for Privilege SB Accounts)

International Transfers
• You can receive funds in your account, which has been remitted from
abroad. South Indian Bank, with its network of exchange houses tie-up,
ensure that any remittance made from abroad, reaches you instantly.

Resident Indians are permitted to remit money abroad subject to the rules and
regulations in this regard. We offer money transfer facilties compliant to these

 SIB eazyRemit - Online money Transfer from US

 Correspondent Banks
 Swift Centres
 Online money Transfer
 Draft Drawing Arrangements

SIB eazyRemit - Online money Transfer from US

SIB eazyRemit is an internet based remittance service launched in association with our
correspondent bank, Bank of New York, Mellon (BNYM), New York. This new facility offers a
hassle free fund transfer to your loved ones in India and can be operated from the comforts of
your home or office using the internet platform. NRI’s can transfer US Dollar funds, from their
account with any ACH- affiliated bank in the USA, to the account of the beneficiary with any
branch in South Indian Bank.


1. The remitter should be a valid bank a/c holder of any bank in the USA.
2. Maximum amount per transfer is USD5000 and aggregate amount per month
is USD30,000 and 10 in number.

1. Easy, secure, quick and cheap way of remitting funds to India.

2. It is a user friendly application and remitter is well guided while login to the link provided
by us from our website to access the site for on line remittance provided by Bank of New
3. The Remitter has to make a one time registration by adding personal details and
beneficiary details. All remitters are subject to an Identity Verification that will validate
their name, address, SSN (Social Security Number) and DOB and ensure accuracy
through an online, real-time check.
4. Beneficiary gets the credit within four working days.
5. SIB applies its finest rates Exchange rate ruling on the day of credit to beneficiary.
6. Customer can give one time instruction for periodic remittances under this product.
7. Scheme is regulated by ACH rules.
8. Scheme is fully compliant as per US Federal Reserve guidelines.
9. A transaction charge of only Rs.10/-(inclusive of service tax) per transaction will be
deducted from the converted remittance amount at our end.

Charges to the Remitter will be US$7.00.

Correspondent Banks

NRIs can instruct their banks abroad to remit the amount directly to our correspondent bank,
giving the South Indian Bank account number to the correspondent bank, and name of the
branch where the account is maintained. Kindly mention the account name and sixteen digit
account number to which the amount is to be credited.

Swift Centres
We are the first bank in India using new version of IP based SWIFT network .

Our Swift code: SOININ55

The following branches/offices are connected to SWIFT

Name of branch SWIFT CODE

























Fastest way for transfer of funds:

To make Foreign Currency remittances through our correspondent banks, kindly provide the
following information to your Bank in their format for speedy and smooth transfer. Please provide
the full 16 digit account number with your name towards on-line credit.

For USD remittances:

1. Pay Bank of Newyork, Newyork, Swift: IRVTUS3N, Chips MBR 001/FED ABA Routing No.
021000018 USD......... for credit of A/c No. 803-3162-716 South Indian Bank Ltd., Cochin, Swift:
SOININ55, for onward credit for opening new NRE, FCNR account of.......(your name) with their
branch or NRE account No.......of their.....branch.

2. Pay HSBC Bank USA, Newyork, Swift: MRMDUS33, Chips:090468/FED ABA Routing No.
021001088, USD..........for credit of A/c No. 000-03881-4, South Indian Bank Ltd., Cochin, Swift:
SOININ55 for onward credit for opening new NRE/FCNR account of......... (your name) with
their.........branch or NRE A/c No .........of their..........branch.


3. Pay Standard Chartered Bank,NewYork , SWIFT,Chips ABA 0256 FED ABA :026002561,ABA
Routing NO.026002561 USD........... for credit of A/c No. 3582021649001, The South Indian Bank
Ltd., Cochin, Swift::SOININ55 for onward credit for opening new NRE/ FCNR account of ............
(your name) with their.......... branch or NRE account No. ........of the branch.

For GBP (Pound Sterling) Remittances

Pay HSBC Bank, London, Swift Code MIDLGB 22, GBP.....for credit of our a/c no. 35832431 604-
055988-001, South Indian Bank Ltd., Cochin, Swift SOININ55 for onward credit for opening new
NRE/FCNR account of........(your name) with their ......... branch or NRE a/c No..........of

For EURO remittances

Pay Commerz Bank AG, Germany , Swift: COBADEFF Euro......for credit of A/c no. 400
875107500 EUR , South Indian Bank Ltd., Cochin, Swift SOININ55 for onward credit for opening
new NRE/FCNR account of.....(your name) with their....... branch or NRE account No.......of

For Japanese Yen remittance

Pay Hongkong and Shanghai Banking Corporation, Tokyo, Swift HSBCJPJT, JPY ......... for credit
of A/c No. 009-102385-026 The South Indian Bank Ltd., Cochin, Swift SOININ55 for onward
credit for opening new NRE/FCNR account of.........(your name)
with their.....branch or NRE account No.......of branch.

For Swiss Franc remittance

Pay UBS AG, Zurich, Swift Code: UBSWCHZH80A CHF......for credit of A/c no.0230-35300.05Q
The South Indian Bank Ltd., Cochin, Swift: SOININ55 for onward credit for opening new NRE
account of......(your name) with their .........branch or NRE
account No.........of branch.

For Canadian Dollar remittance

Pay HSBc Bank Canada, Toronto, Ontario, Swift Code: HKBCCATT CAD.........for credit of A/c
No. 930-134265-060 The South Indian Bank Ltd., Cochin, Swift: SOININ55 for onward credit for
opening new NRE account of..........(your name) with their.......branch or NRE account No........of
the branch.
NOTE - While transfferring funds, for opening FCNR deposit ,please do not provide your
NRE/NRO SB account number ,to avoid funds getting converted to INR.

Online money Transfer

Online Money Tranfer services available with South Indian Bank ensures that your money is
transferred to the appropriate location. Total security and speed are the bywords for us at South
Indian Bank.

 SIB Flash - Web based remittance from UAE

 SIB Express - Online remittance from middle-east
 TT REMITTANCE - Online remittance from middle-east
 MTSS - Online Money Transfer Service Scheme

SIB Flash

Web based inward remittance for instant account credit to SIB customers from UAE Exchange,
Abu Dhabi

South Indian Bank and UAE Exchange, Abu Dhabi have jointly launched a brand new remittance
product, “SIB Flash”. It is an instantaneous credit facility to credit the beneficiaries’ account within
seconds of remitting the fund at UAE Exchange. The remitter & the beneficiary will be informed
through SMS to their mobile within 60 seconds of credit to beneficiaries account ie by the time the
remitter leaves the EH, he will be informed of the status of the credit. We are the first bank in
India to introduce such a facility.

Salient features of SIB Flash

• REAL TIME credit facility to send remittances through all branches of UAE Exchange
Centre, Abu Dhabi to South Indian Bank accounts.
• The beneficiary’s account will be credited within seconds and that too without manual
• First Bank and first Exchange House to have such a facility in India.
• The remitter gets an SMS confirmation on completion of the remittance process within 60
• The beneficiary also gets an SMS, in the case of customers registered under Mobile
• Presently there is a cap of INR 5 Lakh per remittances routed through FLASH, which may
be reviewed and revised at a later date on mutual consent.
• No additional charges to be borne by the remitter under SIB Flash. Only the normal
charges applicable as in the case of SIB Express facility is collected by the EH.
• It is a web based remittance via SIB Payment Hub.

State of the art security features are in place for this remittance facility.
SIB Express

Under this arrangement remittance from abroad will be credited to beneficiaries’ account
instantaneously by electronic transmission.


We are having Money Transfer Service Scheme (MTSS) arrangement that operates under the
purview of RBI guidelines and facilitates instant payment of cash in respect of Foreign Inward
remittance to individual beneficiaries in India under the following brand names:

1. Wall Street Instant Cash:-

A remittance arrangement with a subsidiary of M/s Wall Street Exchange Centre LLC, Abu Dhabi
that facilitates instant cash payment.

2. Money Gram:-

A tie up with M/s. Thomas Cook (India) Ltd. which is a super agent of Moneygram payment
system Inc and facilitates moneygram remittance from all over the world.

3. Xpress Money :-

A strategic tie-up with M/s. UAE Exchange & Financial Services Ltd for facilitating Global Money
Transfer Service, Xpress Money. UAE Exchange & Financial Services Ltd is the principle agent
for UAE Exchange Centre LLC, Abu Dhabi, for facilitating Xpress Money Service in India.

4. EzRemit:-.

A strategic tie-up with M/s BFC Forex & Financial Services Pvt. Ltd for facilitating EzRemit. BFC
Forex & Financial Services Pvt. Ltd is the principle agent for Bahrain Finance Company,
Manama, Bahrain

Salient features of MTSS:

• Only personal remittances such as remittances towards personal expenses and
remittances favouring foreign tourists visiting India can be sent through MTSS. Trade
related remittances, remittances towards purchase of property, investments or credit to
NRE / FCNR accounts, etc. or donations/contributions to charitable organization are not
allowed under this arrangement.
• Maximum remittance with a ceiling of USD 2500.
• Amounts up to Rs. 50,000/- may be paid in cash. Any amount exceeding this limit shall
be paid by means of cheque / DD /PO etc or credited directly to the beneficiary’s account.
• Only 12 Transactions per beneficiary are permitted in a calendar year.
• Payment is made in INR only, without any deduction of charges from beneficiary.
• Reliable, swift and convenient.
• It is a hassle free instantaneous payment to beneficiary against photo identification.
• The scheme does not envisage repatriation of such inward remittances.

Operational Procedure :

For Remitter
• Visit your nearest Money transfer outlet (any of the 4 arrangements mentioned above)
• Complete the Send form and submit valid identification documents (passport/ driving
• Remit the money to the agent and collect the Transaction reference number.
• Convey the transactional details to the beneficiary.

For Beneficiary
• Collect the reference number from the Remitter.
• Walk into the nearest SIB Branch.
• Complete the remittance Receive form and furnish transaction details with valid ID proof

Collect the funds in local currency.

Draft Drawing Arrangements

NRIs can send remittance through Demand Draft through any bank/exchange companies abroad
for credit of account with South Indian Bank. We have Inward Rupee Drafts Drawing
arrangements with the Banks/Exchange companies in the given nations.

 U.A.E
 Bahrain
 Qatar
 Kuwait
 Singapore
 Oman

Value Added Services

Value Addition is the norm when you open an account with us. We offer different types of value
added services which you can opt, as per your convenience. With the power of our online
services you are never far from your account.

 New Pension System

 Online Trading - SIBer Trade
 PAN Service Agency (PSA)
 Demat Services
 Any Branch Banking
 Global ATM cum Debit Card
 Internet Banking
 M-Commerce - - Make payments for your purchases of goods/services and utility bills.
 Mobile Banking
 Credit Card
 SIB Collect
 KYC Certification of Mutual Fund Investors
 Cash Management Services(CMS)

 New Pension System

New Pension System (NPS) – South Indian Bank acts as Point Of Presence (POP)

Pension Fund Regulatory and Development Authority (PFRDA), established by the Government
of India on 23rdAugust 2003, launched the New Pension System (NPS) across the country with
effect from 1stMay 2009. PFRDA is mandated to act as a regulator for the pension sector.

South Indian Bank (SIB), upon willingness and technical preparedness, has been allowed by the
PFRDA to act as one of the Point Of Presence (POP) Banks in the country. In fact, SIB is the
single old generation private sector bank that has been permitted by PFRDA among the names of
22 POPs. SIB has identified 452 selected branches across the nation to act as the Point Of
Presence Service Provider (POP-SP).

(1) Initial Customer Interaction for NPS, (2) Subscriber Registration, (3) Maintenance of hard
copies and record of transactions, (4) Regular subscriber contribution file upload onto the Central
Recordkeeping Agency (CRA) System, (5) Subscriber servicing, (6) Grievance handling are some
of the key functions of the POP. Activities for providing all POP/POP-SP services to fully meet the
requirements of PFRDA in serving the citizens of India are already implemented in SIB.

Online Trading - SIBer Trade

Customers of our Bank are availing capital market services presently through multiple channels.
‘SIBer Trade’ attempts to offer three-in-one (Online trading) model for the benefit of our
customers through our Bank.

Benefits to SIB customers

• Convenience – SIBer Trade helps our customers to easy management of their equity
investment portfolio. It offers the convenience of a Financial Supermarket. Customers
can open their Savings account, Demat Account and trading account by approaching any
of our Branches.
• No more cheques. The system envisaged is fully online seamless one and customers
need not issue cheques for every share purchase, as done usually. Debits/Credits for the
purchase/sale of equities will happen automatically to customers Savings accounts.
• No need to submit Delivery Instruction Slips (DIS) or track the settlement cycles. There is
no requirement of submission of DIS by the customers and the chances of auction of
shares on forgetting to submit delivery instructions to the DP are now ruled out.
• Dynamic display of live stock exchange quotes gives the client immense advantages
while trading in stocks.
• Best Price :Decisions can be made on the latest quotes and orders will reach the stock
exchange almost instantaneously, thereby assuring the best price in every transaction.
• Comfort – Client can place the order from anywhere in the world, any time of his choice.
Off line orders can also be placed after trade timings
• Security - Funds/ shares lie with the bank till the trade is confirmed. Transfer of
funds/shares to the broker takes place only after the days trading is over.
• Delivery Trading – When the Customer purchases or sells shares in cash trading the
shares/funds will normally be credited to the demat/bank account on the settlement day
of the stock exchange which is normally two working days after the trading day(T +2)
• Margin Trading – Intra Day trades. Customer can trade up to a multiple of the funds
allocated keeping margin. The transactions will have to be squared off, before 3 p m on
the same day
• Buy Today Sell Tomorrow – What is bought today can be sold tomorrow, even before
they are credited to the demat account in select Shares
• Trade over phone – Customers can call a toll free number and sell or buy or place orders
with Geojit. Phone 1800-103-5504,91484 3911704
• IPO – Client can also invest in Initial Public Offers also through SIBer Trade. It can be
made online also.
• Customers are not losing interest for the unutilized funds
• Customers will be getting contract notes on the same day, by evening through mail.

Demat/Trading Opening Forms are available in all our Branches.

Instructions For Filling Up of Trading Account Opening Forms

(Read the instructions given on the back of front cover and page 51 and 52 of trading form before
filling up the Trading form)

• All spaces should be filled up mandatorily and should be accompanied by valid self
attested documentary proof and verified by Branch official with seal “Verified with
• There should not be multiple signatures in pages. (ie Customer should not put more than
one signature at the places marked for signature.)
• Signatures in PAN Card and Account Opening booklet should match. If the signature in
the trading booklet is not matching with PAN card signature, client has to submit a
signature confirmation letter signed by our Branch Manager.
• Any page where signatures are found cut off will not be accepted and fresh booklet
should be taken up (that means extra cost for the form)
• A booklet which has been partly used by a client cannot be used by another client.
• Photograph has to be Passport size Photograph with white background and projecting
80% of the face of the client.
• Proof like telephone bill, electricity bill, bank statement or any such valid document
should be of a very recent date. Old ones beyond two months will not be accepted.
• Clients have to mention permanent address and communication address in the booklet.
Residence address is compulsory. Trade codes will not be allotted if the client gives
office address only. (Proof required for all of the addresses mentioned)
• Name in Trading/Demat a/c and PAN Card should be same. If there is any spelling error
in clients name in the PAN card, the client will have to rectify the same in PAN card, by
approaching the IT authorities or the designated agencies like UTI, Karvy etc.
• Photostat copies of pages of trading booklet is not acceptable.
• Passports issued outside India, will not be accepted as address proof.
• Clients have to mention the mail id in the trading booklet in capital letters, without which
the trading form will be rejected.
• Foreign mobile numbers (ISD numbers), will not be accepted.
• Customer shall put his signatures at the marked places on page 1,5, 7 to
29,31,33,35,37,39,41,43,45,49 (total 36 signatures of customer).
a.Two signatures of customer in page 7,13,
b.Joint holders if any should also sign on page 31,37,41
• Trading booklet will be immediately given on opening of the a/c. Cover attached to the
trading booklet contains your Password and PIN no. Customers are required to keep safe
custody of the same.
• Branch Manager will sign under ‘introduced by’ on page 5, and under ‘authorized by’ on
page 6, and also as witness No 1 on page 37, with his official seal.
• Asst Manager of the branch will sign as ‘interviewer’ on page 5, under ‘documents
verified by’ on page 6, and on page 52 for ‘Check list verification’. He will put his
signature under official seal and with signature code.
• There should be two witnesses on Page 37. One will be by the Branch Manager and Asst
Manager or one of the staff may sign with name and short address as second witness of
• Kindly ensure that the same date and place is mentioned in all spaces provided for the
said purpose.

• Fill the details and signatures in black/blue ball pen.

• Tariff Agreement Form No 98 provided by the Bank to be signed by all Demat/Trading
if you are still having queries please mail your queries to mail id and get it

The Process of Trading

• Customer has to first allocate funds in his bank account before he start buying.
• The amount so blocked is the buying power of the customer.
• Customers can block any number of times and there is no limit for the amount that can be
blocked for trading.
• A buy order can be placed now. The order can be placed either as limit fixing a price or
as market order.
• The order is immediately sent to the stock exchange for execution.
• While selling, the system will check the balance in the demat account automatically and if
sufficient balance is available in the Demat account, will proceed to send the order for
sale of shares to the exchange.
• The customer can also modify/cancel the order before executing it.
• Funds will be transferred from the bank/demat account only at the end of the trading day.
• Credit of funds/securities will be done after receipt of the same from the stock exchange.
• Customers can view their Savings account balance, blocked amounts, demat holdings on
the trading screen under DP holdings .
• Customers will be having access to Geojit’s research reports, corporate information,
technical analysis, Reuter News etc.
• Credit of shares/ pay out of funds will be on T+2 i.e. after two working days from trading
• The minimum purchase order will have to be Rs.1000/- or above. There is no minimum
stipulation for sale of shares.
The brokerage payable to Geojit at present is as follows:

* There will be minimum brokerage criteria for small lots

Added Features
• Customers will be getting Contract notes on the same day evening through e-mail.
• Customers can avail the Research reports, technical analysis, corporate information,
Reuter’s news etc available to help the client to take their own decisions for trading
• There will be Exclusive toll free number, e-mail ID and exclusive team of executives to
cater to client requirements. Phone 1800-103-5504,91484 3911704

PAN Service Agency (PSA)

Good news..... Now you can submit applications to issue PAN card through our branches . South
Indian Bank is authorized to service the PAN applications and for this purpose, we have made an
arrangement with UTI Technology Services Ltd. PAN application forms can be downloaded from
our Website. You can get your PAN card by simply filling up the application form and lodging the
same at our branches along with the following documents:

Duly filled up application form along with xerox copy of Proof of Address (POA), Proof of Identity
(POI) and a recent photograph (of 3.5 cms x 2.5 cms in size) can be lodged at our designated
branches. Also bring the originals of the documents for verification.

In case of minors, the POA & POI of the parent / gaurdian (who should also be an IT assessee)
who applies on behalf of the minor should be enclosed along with the application.Photograph of
the minor, if available, may be pasted on the application form.

A processing fee of Rs.94/- is payable to UTITSL. For getting the PAN card mailed to a foreign
address, customers have to pay an additional postal charge of Rs.650/- in the form of a demand
draft favouring UTITSL, Chennai. In case resident address is given by an NRI, this additional
expense can be avoided.
If the application is in order, you will receive the PAN card by ‘speed post’ to the mailing address
given in the application form within three weeks. Also see the FAQs on PAN given below. For
You can track the status of your PAN card application by visiting the following website:

Why you should have a Permanent Account Number (PAN)?: A new provision relating to tax
deduction at source (TDS) under the Income Tax Act 1961 will become applicable with effect
from 1st April 2010. If the PAN is not furnished to the bank, tax at the prescribed rate or 20%,
whichever is higher will be deducted, while paying / crediting interest on deposits. However, there
is no TDS on interest earned on NRE Deposits in Rupee / Foreign currency and also on interest
earned in domestic SB & RD A/cs. For domestic term deposits, TDS will be deducted, only if the
aggregate interest exceeds Rs.10,000/- in a financial year. As per the revised rules, Form 15 G /
15 H for non deduction of tax in domestic term deposits will be valid / accepted, only if the
customer furnishes his PAN to the bank. Once the tax is deducted by the bank and paid to the
Govt. of India, (where PAN is not submitted) Bank cannot refund the amount. Hence we advise
you to obtain PAN at the earliest and communicate the same to your bank branch before tax is
actually deducted on interest payments.

Special attention - NRIs having NRO A/cs: Form 15 G / 15 H for non deduction of tax will not
be accepted in NRO A/cs. TDS at the applicable rate will be deducted while paying / crediting the
interest for all types of NRO A/cs, irrespective of the amount of interest. The prescribed rate of tax
deducted for NRO A/cs depends upon the country of residence of the depositor and the Double
Taxation Avoidance Agreement (DTAA), if any, entered into between the respective Govts.

PAN card has multifarious uses in our day to day life:

• It is a major identification document.

• For investments in primary and secondary markets.
• For opening Demat accounts and Trading accounts.
• For Mutual Fund investments.
• Mandatory for any depositor (including Non-Residents) whose receipts are subject to
deduction of tax at source

Also find the following attachments :

• List of designated branches

List of documents for Proof of Identity and Proof of Address
PAN application form (Form 49-A) with instructions.

Demat Services
The South Indian Bank is offering Depository services for the benefit of its customers.Through
this facility, our customers can hold their securities in electronic form with Central Depository
Services (India) Ltd (CDSL).Thus the customers of the bank can now open Demat accounts with
us through our Designated branches.
A Demat Acount is an account which holds the Beneficial Owner's (BO's) securities in electronic
form. There are many advantages in opening a Demat account and keeping the securities in
dematerialised form.

Major advantages are;

• It is a safe and convenient way to hold securities compared to holding securities in
physical form.
• It eliminates damage,loss,theft and misusage of physical certificate
• No stamp duty is levied on transfer of securities held in Demat form.
• Change of address,registration of Power of Attorney etc can be effected across
companies by one single instruction to DP.
• Shares can be traded and transferred even in single number which was not
possible earlier
We offer the following facilities in a Demat Account
• Dematerialisation, i.e getting physical securities converted into electronic form.
• Rematerialisation i.e getting electronic securities available in BO Account converted back
to physical form.
• Maintain record of holdings in the electronic form.
• Settlement of trades by delivering/receiving securities from /in BO Accounts.
• Settlement of Off-market trades i.e transactions between BOs entered outside the Stock
• Receiving electronic credit in respect of securities alloted by issuers under IPO, bonus
and rights shares etc.
For availing “EASI” Electronic Access to Securities Information, where by a demat a/c holder can
view his holdings in internet, Log in to register for “ EASI “Submit the form at
DP for authorisation

“CDSL SMART” SMS ALERT FACILITY of transactions /bonus/IPO Credits to the beneficial
owners mobile.Register with DP using the form provided along with the opening form

How to Open a Demat Account

For opening a Demat account, the customer is requested to collect the prescribed opening form
from any of our designated branches. Filled up application forms may be submitted with any of
the notified branches convenient to the customer. An agreement is to be executed on requisite
stamp paper. Applicant & joint holder/s has to submit in person, self attested copies of the PAN
card,Address and Identity proof along with originals for verification, Bank account particulars and
cancelled cheque leaf and passport size photograph along with the application.On opening the
Account a unique BO ID (Beneficial Owner Identification) Number is alloted.


Note : As per SEBI rule PAN card copy is mandatory for Demat Accounts from 1st April 2006. For
Accounts suspended for Debit for want of PAN Card copy Beneficial owners should submit
verified self attested PAN Card copy to DP IMMEDIATELY for defreezing of accounts

SUBMIT THE DIS WITHIN THE SPECIFIED TIME(Trading Day+1day before 3.30. pm)TO




Any Branch Banking

On introduction of the prestigious centralized core banking solution in technology partnership with
the Infosys Technologies Ltd., South Indian Bank is now providing absolutely on-line anywhere
banking facilities at all its branches, covering all the major centres in the country.
Two anywhere banking products are now offered by the Bank to its privileged customers.

SIB PRIVILEGE for Savings A/c Customers

SIB PREMIUM for Current /Overdraft A/c Customers

This is a unique savings account introduced for the benefit of the business class for providing
anywhere banking facility.

This is a unique current/overdraft account introduced for the benefit of the business class for
providing anywhere banking facility.

Global ATM cum Debit Card

South Indian Bank’s Global ATM-Cum-Debit Cards are now acceptable in the Master Card
International Network System as well as in the domestic National Financial Switch (NFS) Network
System owned by IDRBT, the technical arm of RBI.

Global ATM cum Debit Card

• Provide on-line access to Savings Bank or Current accounts of South Indian Bank.
• Tied up with the world-renowned service provider, MasterCard International.
• Can be used in 8,30,000 ATMs & 7 million Point Of Sale(POS) terminals worldwide.
• South Indian Bank being a member of NFS network, South Indian Bank cards are
acceptable in other member banks ATMs.
• Can be used in 31000+ ATMs in India. ( Click here for list of ATMs )
• The Maestro Debit card is a PIN based card and operates similar to ATM making it 100%
secure, even in POS terminals.
• Global Cards are issued free of cost to the customers of South Indian Bank.
• Nominal fee is charged to the users at other Bank’s ATMs.
• Cash withdrawal limits through ATMs is up to Rs.20,000/- per day.
Privilege Card
• This is a multi-purpose debit card issued to an SIB-Privilege account holder.
• All features of Global ATM-cum-Debit card available
• The SIB-Privilege Card can be linked to any five SB accounts of the customer
• On-line fund transfer upto Rs.1,00,000/- is allowed between these five accounts through
• The privilege card holders can withdraw money (free upto Rs.20,000/- per day) at the
networked branches, by using the specially designed/personalized privilege cheques,
provided in the account.
• For maintaining an SIB-Privilege account, an average monthly credit balance of
Rs.1,000/- is stipulated.

NFS Tie Up - Details

In our continued efforts to provide better and efficient services to our customers, the South Indian
Bank Ltd has joined the National Financial Switch (NFS) Network System of the IDRBT,
Hyderabad on 4th May 2005. The Institute for Development and Research in Banking Technology
(IDRBT), the technical arm of the Reserve Bank of India (RBI), is promoting the NFS ATM
sharing project for the benefit of the member banks to expand the individual ATM operations
across the country. The NFS Network, owned and maintained by IDRBT, aims at linking all the
ATMs in the country for providing efficient and cheaper ATM operations.

NFS Member Banks:

There are 28 banks viz., (1) Allahabad Bank, (2) Andhra Bank, (3) Axis Bank, (4) Bank Of
Baroda, (5)Canara Bank (6) Catholic Syrian Bank, (7) Corporation Bank, (8) City Union Bank,
(9)Cosmos Co-op Bank, (10) Dena Bank, (11) Development Credit Bank, (12) Dhanalakshmi
Bank, (13) HDFC Bank, (14) ICICI Bank, (15) IDBI Bank, (16) Indian Bank, (17) Indian Overseas
Bank (18) IndusInd Bank (19) Jammu & Kashmir Bank, (20) Karnataka Bank, (21) Karur Vysya
Bank, (22) Oriental Bank of Commerce, (23) Punjab National Bank, (24) South Indian Bank, (25)
Tamilnadu Mercantile Bank, and (26) United Bank of India (27) Vijaya Bank, (28) Yes Bank, (29)
State Bank of India, (30) Union Bank of India, (31) Bank of Maharashtra as members of this NFS
Network. This nation-wide ATM network has strength of 8308 ATMs as on 27.02.2007. SIB had
joined this network as the tenth bank. It is a matter of pride for us that our Bank is the first Kerala
based bank to have a DIRECT membership in the NFS Network.

Benefits To Customers:
By joining the NFS ATM Network System, SIB is in a better position to serve its customers
through more number of ATMs in the country, with a nominal charge. More over, the customers of
other member banks of NFS will be able to transact their business through our ATMs located in
all major centers. Our Bank already has ATMs installed in socially and religiously important
centers like Guruvayoor, Velankanni, Varkala, etc in South India, using which customers of other
NFS member-banks can do ATM transactions now onwards. In addition to the “Master Card”
brand cardholders, “VISA” brand cardholders of NFS Member-banks can also do business
transactions now at our ATMs. For the customers, the ATM reach increases with far and wide
geographical coverage – More ATMs and More Coverage now.

ATM Debit Cards:

The existing SIB Global-Cum-ATM-Debit Cards already issued by the Bank to the customers are
acceptable in all NFS enabled ATMs in the country.

Master Card Tie Up - Details

About MasterCard International:

MasterCard International is a leading global payments solutions company that provides a broad
variety of innovative services in support of their global members’ credit, deposit access, electronic
cash, business-to-business and related payment programs. MasterCard international manages a
family of well-known, widely accepted payment cards brands including MasterCard®, Maestro®,
and Cirrus® and serves financial institutions, consumers and businesses in over 210 countries
and territories.

What is a Debit Card:

Maestro® is the Global Debit Card cum ATM Card product of MasterCard International. This card
can be used to make on-line bill payments through 49,000 Point of Sale (POS) terminals in India
and 70,00,000 merchant establishments worldwide exhibiting “MAESTRO” logo. In other words
the Debit Card holder can pay their bills, at shops exhibiting “Maestro” Logo, using this card
instead by cash or cheque. The card holder need not carry cash in future when all the shops
provide this facility. SIB’s Debit Card can also be used as an ATM card within the ATM network of
the Bank. People around the world prefer debit card over credit card since the spending can be
restricted to what they have in their account. Since payment is effected only if there is available
balance in the customer’s account, it is absolutely risk-free for the banks. SIB plans to issue debit
cards liberally as an added convenience to its customers which in turn reduces the pressure on
cash transactions at the counters.

How is CIRRUS relevant to other bank’s Maestro Card holders:

SIB has acquired “CIRRUS”, the product of MasterCard International. By doing so other bank’s
Maestro Card holders can make use SIB’s networked ATMs for their requirements at a nominal
cost. SIB’s Maestro Debit card holders can also operate any of the 6700 on-line ATMs in India
belonging to different banks and 8,20,000 ATMs worldwide exhibiting “CIRRUS” logo.

What is the advantage of Global Debit card to SIB Customers:

Virtually the SIB’s Global Maestro Debit card help the customer with convenience banking in two
(1) The SIB customers have access for cash withdrawal, balance checking, account statement
etc through a large network of ATMs, 24 hours a day, 7 days a week.
(2) The SIB customer can make on-line bill payments through 49,000 POS terminals arranged by
various banks at merchant establishments in India and 70,00,000 worldwide.
(3) The card will be a great boon to the esteemed customers of bank especially to the overseas
travellers and NRIs.

Why SIB has preferred Maestro Debit Card:

Maestro Debit cards unlike other cards is a PIN based card. The bill payments through POS
terminals will be made only after the card holder has authorised the payments by entering the
Personal Identification Number (PIN) issued by the bank and known to the customer alone. Thus
it avoids totally, un-authorised bill payments and hence it is safer, more secure offering complete
peace of mind to SIB customers.

How to apply for the Global Card:

All the present and prospective customers are eligible for this card.
The customer should have a Savings Bank account with any of the networked branch of the
Application in the prescribed format should be submitted with the branch where the customer
maintains the account.

• Please contact our branch nearest to you. The branch address, e-mail id etc. are made
available through ‘branch locater’ facility in the web-site.

Internet Banking

“Sibernet” is the Internet Banking Service of South Indian Bank Ltd, which allows its customers to
avail the bank’s services through Internet.

Advantages Of Sibernet
• Online Payments.
• Conduct Banking Operations from House/Office/Cyber-cafe
• Service available for 24 hours & 365 days a year
• Accessible from any where in the world using Internet.

Services Offered

Online Bill Payments / Shopping Mall:

This facility enables the customers to make payment for goods/services through Internet Banking
on-line real time in a secured way.
• Get complete details of all your accounts (SB/Deposit/Loan …)
• Print/Save the pass-sheet of any of your Operative accounts for any period.
• Cheque Status Inquiry
• Clearing Instruments Inquiry
• Lien Inquiry
• Nominee Inquiry
• Interest Details of Deposit Accounts
• Print Pass-sheet of any loan account for any period.
Funds Transfer
• Fund transfer between your own operative accounts.
• Fund transfer to other operative accounts in SIB
• Cheque book / DD/ Deposit Open .
• Simulate pre-closure of your deposit/loan account.
• Cheque book / DD/ Deposit Open .
• M-commerce registration.
• Send secured instructions to your Relationship Manager.
• Receive immediate reply from Relationship Manager.
• Receive important account related Alerts from the system.
• Deposit maturing soon, loan repayment alert, minimum balance alert…
• Receive important account related Alerts from the system.
• Give different nick-names to your accounts for easy identification. Change the amount &
date format as per your choice. Change password option is also available.
• View the entire history of activity done by you in Sibernet
• The customer can make investment/credit decisions based on deposit/loan modelling
Security Features
• The software is from Infosys , a leading Indian Software house.
• Digital Certificate from Verisign , a global pioneer in e-security ensuring 128-bit

• We have complied with Global Standards while implementing the various layers of
security features such as Firewalls & Anti-Virus
• We are offering Sibernet services for Retail (Individuals/Proprietorship Concerns) and
Corporate (Companies/Partnership Firms) customers. The additional services available
to the Corporate customers are as follows,
Multiple Users- The corporate can apply Internet Banking facility for the different officials
responsible for operations in bank accounts. The Corporate also has the facility of setting up
Work-flow rules (i.e. hierarchical rules for approving requests within the organisation). The
corporate can also restrict the accounts being shown to different users, based on their
designations, roles, divisions etc. (e.g. Divisional Manager-Production, Regional Manager-
Finance etc). This would ensure secrecy in the Corporate Accounts.
Limits - The corporate user can view the Corporate Limits granted to the different linked
accounts maintained in all the branches of South Indian Bank.


SIB M-Commerce (Mobile Banking Service)

Dear customer,

Hitherto you were enjoying the benefits of our SMS banking service, through which you were able
to get the ‘push’ & ‘pull’ alerts right at your mobile phones. Through this service, the transaction
details of your A/c, with balance outstanding, status of cheque issued by you, the location of
nearest SIB ATM centre etc., were made available at your mobile screen. With the advancement
of technology, we are now equipped to provide you the convenience of M-Commerce. With this
service, you can now make various services including payments through your mobile phones.

From 1st of August 2009 onwards, SIB offers M-Commerce service (payment on purchase of
goods and services through mobile phone) to its customers in association with M/s. PayMate, the
country’s leading Mobile Banking Service provider.

Since M-commerce is an entirely new breed of payment channel and involves payments by debit
to your bank account with SIB, separate registration is required for availing this facility.

With the convenience of M-Commerce you can now shop with merchants tied up with M/s
PayMate and make online payments through your registered mobile phone.

In M-Commerce, the Bank account of the customer is linked to his / her mobile phone registered
in India, which facilitates M-payments anytime, anywhere on a 24x7 basis. This is the most
convenient and hassle free payment service, which can be initiated through your mobile phone.
These payments are authenticated by the system with the secret MPIN (Mobile Personal
Identification Number provided for this purpose by PayMate through mobile phone) of the
customer. For further details please refer the user guide provided below.

As an introductory offer, the service is offered free of cost to the customer. The service is ‘SMS’
based and works on both GSM and CDMA networks and across all handset models. As per RBI
guidelines, no cross border transactions are permitted. Hence these payment transactions can
take place in India and only in Indian rupees. For this reason, only domestic mobile phone
number can be registered for availing M-Commerce service. The service is offered to the bank’s
customers who are fully complied with the AML / KYC norms.
Registration for the M-Commerce service requires physical presence of the customer at the SIB
branch along with the signed Registration Form. However, customers having Internet banking
facility (Sibernet-Retail) can register themselves through Internet banking. Such Net banking
customers may login to Sibernet - Retail portal and get them registered by visiting Requests ->
Register M-Commerce service provider. A write up on registration process is also provided below
along with the Application cum terms & conditions of the service, User guide, merchant list etc.
So, get yourself registered for this service and enter the arena of M-commerce! All well wishers
are requested to open a SB A/c with us and avail unlimited facilities of Net banking and Mobile

Disclaimer: The service, including all content, software, functions, materials, and information
made available on, provided in connection with or accessible through the service, is provided "as
is." to the fullest extent permissible by law, Bank makes no representation or warranty of any kind
whatsoever for the service or the content, materials, information and functions made accessible
by the software used on or accessed through the service, or for any breach of security associated
with the transmission of sensitive information through the service. Bank disclaims without
limitation, any warranty of any kind with respect to the service, non-infringement, merchantability,
or fitness for a particular purpose. Bank does not warrant that the functions contained in the
service will be uninterrupted or error free. Bank shall not be responsible for any service
interruptions, including, but not limited to, system failures or other interruptions that may affect
the receipt, processing, acceptance, completion or settlement of payment transactions or the
service. To the fullest extent permissible by law, in no event shall Bank be responsible or liable to
you or any third party under any circumstances for any indirect, consequential, special, punitive
or exemplary, damages or losses, including but not limited to damages for loss of profits,
goodwill, use data, or other intangible losses which may be incurred in connection with any
goods, services, or information purchases, received, sold, or paid for by way of the service,
regardless of the type of claim or the nature of the cause of action, even if the Bank has been
advised of the possibility of such damage or loss Each party acknowledges that the other party
has entered into these Terms of Service relying on the limitations of liability stated herein and that
those limitations are an essential basis of the bargain between the parties. In addition to and
without limiting any of the foregoing, Bank shall not have any liability for any failure or delay
resulting from any condition beyond the reasonable control of such party, including but not limited
to governmental action or acts of terrorism, earthquake, fire, flood or other acts of God, labour
conditions, power failures and Internet disturbances.

Mobile Banking

As a registered user of SIB Mobile Service, you can send Pull Requests and/or receive Push

• Pull Requests- Send simple, standard SMS messages to a published number of the
Bank, 91 9840 777222 to get online information on your account/s. You will immediately
receive an automatic SMS reply from the Bank.
• Push Alerts-Receive automatic SMS message from the Bank when certain events occur
in your account/s . You can set the preconditions for such events (Alerts) in the first page
of the Registration form. Any subsequent change in these preconditions can be informed
to your Branch Manager.

Credit Card


We always try to offer the best available products available in the market to our customers. We
had been offering a Domestic credit card which we want to enhance to an International credit
card. Therefore, we have made a tie up with Citibank for an International VISA affiliated co-
branded credit card and started sourcing from 12th February, 2007 onwards. The application
forms are available at selected branches across India

The card is issued free of cost as a gesture of our relationship with our customer.

There are certain set of PIN codes approved by Citibank. Only those customers who reside in
that PIN codes can apply. Those customers who reside in the approved PIN codes may apply

Citibank has a very relaxed credit policy formulated exclusively for our SB customers.

Our customers are requested to go through the important guidelines ,rules and regulations given
in the application form and get satisfied themselves before applying.

Savings bank customers are requested to submit the following documents along with the
application form.

• Identity Proof(Passport , Ration card with photo, Driving license , Voters id etc)
• Address Proof( should match with the address given in the application form)
• PAN Card or Form 60.
• Auto debit instruction signed by the customer to debit his monthly credit card bills with
three options (Select appropriate option)

It is our intention to increase the approved centers so that the all our eligible customers will be
able to apply. When more locations are opened, the same will be communicated through our
web-site. Till that time, customers who resides in the approved PIN codes alone can apply.
Kindly bear with us.

The completed application form may be handed over to the SIB branch for processing.
Citibank will send the credit card directly to the customer in case the card is approved by them.

South Indian Bank is sourcing credit card applications from our valuable customers to facilitate
card issue by Citibank, under special & liberalized credit policies formulated exclusively for South
Indian Bank SB customers. However, Citibank may issue card solely at their discretion and based
on their guidelines and credit policies. Their decisions will be final.
SIB Collect

The Bank has introduced an attractive product, SIB collect, for fast collection of outstation
instruments.The customers of any particular town can deposit their collection instruments and
other request in the drop boxes available at all branches at that centre.All the instruments are
pooled at a central office via fast courier services and collected very fast. The bank also makes
use of its anywhere banking facility for the fast collection of the instruments. This facility is now
available at Ernakulam, Thrissur, Chennai, Bangalore and Mumbai.

 It is a centralized cheque collection system.

 It is based on the drop box concept
 It gives freedom to the customer to deposit instruments at convenient centers
 It gives freedom to the customer to transact at convenient time
 It saves time to the customer by just dropping the instruments instead of waiting at the
counters for acknowledgement.
 It makes use of any where banking facility concept of finnacle for fast collection.
 It saves the time of the branches in doing outstation collection and dispatch
 It is a system based on trust on the banking officials

• KYC Certification of Mutual Fund Investors

We have entered into an agreement with M/s.CDSL Ventures Ltd (CVL) to become a Point of
Service (POS) on their behalf,for KYC Certification of Mutual Fund Investors.

Prevention of Money laundering Act (PMLA) 2002 has made it mandatory for all Mutual Funds to
verify the credentials of the applicants desirous of subscribing to their 'units',in order to comply
with the 'Know Your Customer (KYC)' norms. As a result,all applicants have to submit their Proof
of Identity (POI) and Proof of Address (POA) on each occasion when they purchase units of any
mutual fund.

In this regard,M/s.CDSL Ventures Ltd (CVL), a wholly owned subsidiary of CDSL,has been
mandated by the Association of Mutual Funds in India (AMFI), to create the necessary
infrastructure in order to handle the KYC on behalf of the Mutual Fund Industry. For the
convenience of the investors, CVL proposed to utilize the services of our branches,which are
familiar with the KYC norms and we have agreed to become a Point of Service (POS) for CVL. In
the KYC certification process,the investors have to submit the KYC Certification application form
to the Bank,along with the KYC documents.The Bank will enter the particulars in the KYC system
provided at the website of M/s.CVL and issue a system generated acknowledgement letter to the
Investor, a copy of which the Investor can attach to the Mutual Fund application,thereby avoiding
submission of the KYC documents along with each application for Mutual Fund units.

Initially,this service is provided only at 16 branches,which will be spread out to other branches
soon. This service is offered totally free of cost. The KYC Certification Application forms are
provided herewith.
Forms :

1. Individuals

2. Non Individuals

3.KYC: Details Change form for Individuals

4.KYC : Details Change form for Non Individuals

Cash Management Services(CMS)

Now customers of the following leading Life Insurance Companies can remit their life insurance
premium at any of the branches of our Bank, free of cost.
• 1. ICICI Prudential Life Insurance Co. Ltd.
• 2. TATA AIG Life Insurance Co. Ltd.
• 3. ING Vysya Life Insurance Co. Ltd.

Under this arrangement, a life insurance premium up to Rs. 49,999 per policy can be paid in cash
(Cash only) by the customers of these companies at any of our branches. Cheques / Drafts are
not accepted at present under this arrangement.

The documents required to be submitted by the customer while remitting the premium:
• The Premium Renewal Notice received from the respective company.
• Premium payment challan duly filled by the customer.

Download Challan:

1. SIB-ICICI Premium Payment Challan.

2. SIB-TATA AIG Premium Payment Challan.

3. SIB-ING Vysya Premium Payment Challan.

• Accounts & Deposits

Our rich experience serving NRIs, have helped us in creating products and services that suit your
exact needs. Our wide range of accounts and technology based value added services. presents a
great opportunity for you to begin a relationship with us. In addition to Savings Accounts, under
NRE, NRO category, we also offer high return deposit schemes, in Indian Rupees
(NRE/NRO) and Foreign Currency (FCNR/RFC). We invite you to open an account with us.

 NRE Rupee Account - Non Resident External Rupee Account (Savings/ Deposits)
 NRO Rupee Account - Non Resident Ordinary Rupee Account (Savings/Deposit)
 Foreign Currency Deposits - In USD,AUD, GBP and Euro- (FCNR / RFC )
NRE Rupee Account

 Accounts can be in the form of Savings or Term Deposit.
 Joint accounts are permitted.
 Account can be opened by direct remittance from abroad, transfer from existing NRE,
FCNR(B) accounts or with foreign currency note, travellers cheque tendered personally
by NRIs during their visit to India.
 Repatriation of credit balance permitted.
 No Income tax deduction at source on interest
 Balance is exempt from wealth tax and interest earned is exempt from Income Tax.
 Nomination facility is available

Documents Required for Opening an NRI account

• Application form duly filled and signed
• Copy of latest valid passport
• Proof of address and residence like copy of statement of bank account maintained
abroad or a certificate from your employer abroad
• Two passport size photographs

Initial remittance by way of DD issued by a foreign bank or an exchange company abroad or

cheque drawn on a foreign bank in your country of residence

 Savings Account - For routing your personal cash flow

NRO Rupee Account

• Accounts maintained in Indian Rupees for routing bonafide local remittance like rent.
• Joint accounts are permitted.
• Interest earned in the account is subject to Indian Income Tax.
• Account can be maintained in the form of Savings and Term Deposits.

Restricted repatriation is offered.

 Savings Account - For routing your personal cash flow

 Term Deposits - For earning high returns on your local funds

Foreign Currency Deposits

We offer you protection against currency exchange rate fluctuations, through our Foreign
currency denominated accounts. What's more, you earn high returns for different maturities.

• Accounts are maintained in foreign currencies (USD, GBP, EURO,AUD)

High rate of returns

 Term Deposits- FCNR - Foreign Currency Non Resident Accounts (Banks)
 RFC Account - Resident Foreign Currency Accounts

RFC Account

A person of Indian Origin who returns to India for permanent settlement after a stay of minimum
period of one year abroad is eligible to open RESIDENT FOREIGN CURRENCY (RFC) account.

 Accounts can be maintained in USD, GBP and EURO.

 Assets acquired or held at the time of return are eligible for credit to RFC account. For
Example: Funds in bank account outside India, Income such as dividend, interest, profit
earned on assets abroad, sale proceeds of eligible assets, pension and other monitory
benefit received from outside India arising out of employment taken up abroad, foreign
currency notes, travellers cheques brought to India at the time of return and balances in
NRE/FCNR(B) accounts.
 The balance can be repatriated or credited to NRE or FCNR(B) accounts, if the account
holder becomes an NRI subsequently.
 Balance in the accounts can be used for bona fide expenses like traveling expenses for
going abroad, children’s education abroad etc.
 No loan is available against RFC account.

 Kalpakanidhi - Interest is compounded half-yearly

 Fixed Deposits - Interest is paid out quarterly