South Indian Bank Launches Startup-Focused Current Accounts.

Banking & Finance

In February 2025, Thrissur (Kerala)-based South Indian Bank Limited (SIB), one of India's leading Scheduled Commercial Banks (SCBs), introduced two innovative startup Current Account (CA) products: 'SIB Business Startup Current Account' and 'SIB Corporate Startup Current Account.' This initiative aims to strengthen India's startup ecosystem.


      - These new offerings were unveiled in the presence of P.R. Seshadri, Managing Director (MD) and Chief Executive Officer (CEO) of SIB, at the Andromeda auditorium in Rajagiri Valley, Kochi, Kerala.

      - Tailored for sole proprietorships and partnerships, this account provides essential banking services to help new businesses establish a strong financial foundation.

     

Main Point :-   (i) Designed for larger business entities such as private limited companies, public limited companies, one-person companies, and limited liability partnerships (LLPs), addressing their complex financial needs.

      (ii) Businesses must be incorporated or registered within the last three years to qualify.

(iii) Zero minimum balance requirement for up to three years; unlimited free RTGS (Real Time Gross Settlement) / NEFT (National Electronic Funds Transfer) transactions via digital channels; premium debit cards with exclusive benefits, including airport lounge access.

          ____________________________