For those looking for a basic saving account to manage their savings efficiently, Basic Savings Bank Deposit offered by South Indian Bank is the ideal choice. South Indian Bank Basic Savings Bank Deposit Account may be opened by individuals or by a group of family members.
Customers can download the application form to open a South Indian Bank Basic Savings Bank Deposit Account from the bank's registered website and submit the duly-filled application form in any South Indian Bank branch. Alternatively, customers can walk into any South Indian Bank Branch and request for a South Indian Bank Basic Savings Bank Deposit Account opening form and submit the completed form to the bank officer. Customers will be requested to submit the supporting documents to the bank officer. Upon verification of the documents, a SIB Junior Saving Account will be opened.
Category | Fees |
AMC charges on mobile banking services | Not applicable |
Change in mobile number for mobile banking services | Not applicable |
Mobile banking reactivation charges | Not applicable |
Issue of duplicate DD | Rs.100 |
DD revalidation | Rs.100 |
DD cancellation | Rs.100 |
ATM card replacement charges | Rs.100 |
ATM re-pin charges | Rs.100 |
Setting up standing instructions | Rs.100 |
Standing instruction amendment charges | Rs.100 |
Standing instructions execution charges | Rs.10 |
Charges for duplicate passbook | Rs.50 per page or Rs.50 for last entry alone |
Charges for account closing before 6 months | Rs.75 |
Stop payment charges | Rs.100 per cheque Rs.300 for batch of above 3 |
Issuance of no dues certificate | Rs.100 |
Providing copies of old records more than 1 year | Rs.100 per year/per record/per sheet |
Cheque/ECS return charges | Not applicable |
ECS mandate verification | Rs.100 |
Demand draft commission | Free for child's education purpose |
Cheque inward return charges | Not applicable |
NEFT/RTGS inward transactions | Free |
NEFT/RTGS outward transactions |
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GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
No. An individual can have only one South Indian Bank Basic Savings Bank Deposit Account.
No. A South Indian Bank Basic Savings Bank Deposit Account holder cannot open any other savings account in the same bank. The customer has to close the account 30 days before applying for another type of saving account in South Indian Bank.
No. There are no restrictions on age/income/investment amount to open a South Indian Bank Basic Savings Bank Deposit Account.
Yes. Customers can make up to 4 withdrawals per month including ATM withdrawals. If the customer exceeds the limit, Rs.20 plus service tax will be charged per transaction.
Yes. You can convert your South Indian Bank Basic Savings Bank Deposit Account into a regular savings bank account on obtaining permission from the bank and if you meet the minimum balance criteria.
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