New Delhi, Feb 4 (UNI) Private sector lender South Indian Bank (SIB) has launched two specialized startup current account products—SIB Business Startup Current Account and SIB Corporate Startup Current Account.
The bank said that the SIB Business Startup Current Account caters to sole proprietorships and partnerships, providing them with essential banking support to establish a strong foundation during their initial years.
On the other hand, the SIB Corporate Startup Current Account is designed for private limited companies, public limited companies, one-person companies, and limited liability partnerships, meeting the more complex financial needs of larger business entities.
To qualify for these accounts, the bank said, firms must have an incorporation or registration date not older than three years. The new account products feature zero minimum balance requirement up to three years, unlimited free RTGS/NEFT transactions via digital channels, and a premium debit card offering exclusive benefits such as airport lounge access.
Speaking at the launch, P. R. Seshadri, MD & CEO of South Indian Bank, said, “Our new Startup Current Accounts are tailored to meet their financial needs, allowing them to focus entirely on achieving their business objectives."
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