- South Indian Bank has launched SIB HER Account in Kochi
- It is a premium savings account designed specifically for women
- The product is developed to help women at different stages of their financial journey
South Indian Bank has launched the 'SIB HER Account' in Kochi, a premium savings account exclusively for women.
The product has been designed to offer financial benefits along with lifestyle and wellness privileges to support women at different stages of their financial journey.
The SIB HER Account thus offers premium debit card features, locker rent benefit, retail loan concession, add-on account facilities for family members, and comprehensive insurance coverage. It is available for both domestic and NRI customers, reflecting the bank's aim to serve women across different segments.
It offers customers an Auto Sweep facility on balances above ₹1 lakh, unlimited ATM withdrawals, and complimentary lounge access through the premium HER Debit Card.
The account also comes with ₹1 crore air accident insurance and ₹1 lakh personal accident cover at no additional cost, while there is an option of up to ₹25 lakh cancer care insurance at a discounted premium.
Additional benefits include discounted term insurance for life cover of ₹2 crore and above, free banking transactions such as NEFT, RTGS, IMPS, and cheque books, concessional HER-branded housing, vehicle, and business loans. A bouquet of one-day business loan sanctions along with milestone rewards on debit card spends.
Biji S S, Senior General Manager and Head of Branch Banking said that the SIB HER Account has been developed to address women's evolving financial needs by bringing together financial independence and added lifestyle benefits.
The scheme is available for women in the age group of 18–54 years, with a minimum monthly balance of ₹ 50,000. A fixed deposit of ₹ 1 lakh or debit card spends of ₹ 50,000 in the previous month exempts customers from this requirement.
With this product, South Indian Bank further reinforces its commitment to customer-centric innovation and strives to increase its portfolio of inclusive financial solutions.
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