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South Indian Bank Launches Startup-Focused Current Accounts.

Banking & Finance | Dated: 06 Feb 2025

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.

🎯 Key Highlights:

  • - 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.

💡 Other Important Facts:

  • (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.

📚 Test Your Knowledge:

Which bank has recently launched startup-focused Current Account products in February 2025?

Correct Answer: South Indian Bank

🚀 Quick Recap: