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Business EconomyPosted at: Feb 14 2025 8:26PM


South Indian Bank introduces ‘SIB Quick FD’ for seamless Fixed Deposit booking

Hyderabad, Feb 14 (UNI) South Indian Bank (SIB) on Friday announced the introduction of a new product variant, ''SIB Quick FD'' that allows customers to open Fixed Deposits (FDs) seamlessly using funds from their other bank accounts.
This initiative enhances accessibility and convenience, enabling customers to invest in FDs digitally using UPI, the bank said in a release.
With SIB Quick FD, Fixed Deposit booking has become more accessible and streamlined.
Customers with valid KYC can now open fixed deposits effortlessly using UPI, making secure investments more convenient than ever.
Key Highlights of this initiative include customers can open a fixed deposit without an existing savings account with South Indian Bank; FDs can be opened anytime, ensuring flexibility; Fixed deposits start at just ₹1,000, making them accessible to a wider audience and Competitive interest rates with the flexibility of premature withdrawals.
Deposits are covered under DICGC insurance up to ₹5 lakhs, ensuring peace of mind.
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