DUBAI: The Thrissur-based South Indian Bank (SIB) has launched its exclusive NRI SAGA (Salary Advantage Global Account), a premium banking product designed specifically for salaried NRIs.
NRI SAGA Accounts are designed exclusively for salaried NRIs through corporate partnerships with the bank and offer a host of advantages to enhance banking convenience.
With zero balance requirements and priority banking services, customers enjoy a seamless experience, ensuring swift and personalised assistance.
Account holders benefit from exclusive perks such as a complimentary debit card with airport lounge access on selected cards and a 25 per cent waiver on processing fees for home and car loans.
Launching the new services, the bank CEO and managing director PR Seshadri said in Dubai: “Combined with our enhanced digital offerings and an expanded global remittance network, this launch reaffirms our commitment to delivering exceptional banking services and support to NRIs, no matter where they are in the world.”
MoUs with exchange houses
SIB also announced the signing of MOUs with exchange houses like Al Badar Exchange, Al Razouki Exchange, Salim Exchange, Al Deniba Exchange, First Exchange Oman, and Horizon Exchange, and a few Money Transfer Operators (MTOs) in the Middle East.
South Indian Bank has tie-up with more than 35 Exchange Houses across the GCC region to support NRIs to remit money to India.
These expanding alliances demonstrate SIB’s strong commitment to serving the NRI segment by facilitating hassle-free cross-border payments.
SIB Mirror+
The flagship SIB Mirror+ banking app is available in 9 different languages and is also equipped with unique safety features like e-Lock and e-Limit.
“SIB Mirror+ brings in convenience for customers to digitally transfer funds including international remittances, instant PIS account opening for NRIs, make QR code and UPI payments, pay bills to over 100 utilities, invest in Mutual Funds online, avail instant pre-approved loans, renew gold loans and much more,” said an official note.
Remit Money Abroad
The “Remit Money Abroad” feature on the bank’s mobile platform allows NRI customers to initiate foreign outward remittances from their mobile phone in more than 100 currencies across the globe.
Customers can initiate outward remittance request 24×7 online including holidays in currencies like USD, AED, EUR & GBP.
South Indian Bank recently unveiled its second quarter financial results for the period ending September 30, 2024, reporting an impressive net profit of Rs325 crore.
The bank registered growth in all the desired segments with a focus on quality asset across all verticals- corporate, housing loan, auto loan, personal loan and gold loan.
