South Indian Bank Fixed Deposit – Premature Withdrawl
You may break you FD and withdraw your money subject to minimum moratorium requirements.
However, in case of premature withdrawal, South Indian Bank pays applicable ROI for actual duration of deposit and charges 0.50% penalty for deposits upto Rs. 15 lakhs and 1.0% penalty for deposits above Rs. 15 lakhs.
Loan against South Indian Bank FD
South Indian Bank offers loan upto 90% against its own deposit. Note that you cannot obtain a loan against FD from another bank.
Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.
South Indian Bank Interest Rates in your city. How and where to apply?
Keep your KYC documents - PAN card, address proof and photo ready.
In case you already hold an account with South Indian Bank, you don’t need to submit KYC documents again.
South Indian Bank Limited is a private sector bank headquartered at Thrissur City in Kerala, India. South Indian Bank (SIB) was incorporated in 1908 by a group of enterprising men at Thrissur during the Swadeshi movement. The bank started with an intention to induce the habit of savings in the community on one hand and to free the business community from the clutches of greedy money lenders on the other by providing need based credit at reasonable rates of interest. It became the first private bank in Kerala to receive scheduled bank status in 1946 under the RBI Act. South Indian Bank was the first private sector bank to open a NRI branch in November 1992. It became the first private bank in Kerala to open an 'Overseas Branch' to cater exclusively to the export and import business in June 1993. South Indian Bank has 812 branches/offices spread across more than 26 states and union territories in India. It has set up 1,031 ATMs all over India. The bank deals in various products viz. Personal banking, NRI Banking, Corporate Banking etc. The Bank achieved a net profit of Rs.507.50 crore during the year 2013-14 and total gross business of Rs.83, 894 crore,
consisting of total deposit of Rs.47, 491 crore and gross advances of Rs.36, 403 crore as on March 31, 2014.
25th Jan 17 Kotak Mahindra sells its 2.1 percent stake in South Indian Bank to Lavender Investments
Kotak Mahindra International offloaded its 2.1 percent stake in South Indian Bank to Lavender Investments in an open market transaction. The shares were purchased by Lavender Investment Limited for Rs. 60 crore.
20th Jan 17 South Indian Bank to focus on growth in its retail and MSME business
South Indian Bank in its investor presentation has stated that the bank will work for enhancement of its retail and MSME business through its centralised marketing and processing centres. The bank intends to increase the volume of fresh loan disbursements across various loan types such as business loan, home loan and personal loan.
12th Jan 17 South Indian bank registers a 9.5 percent growth in its net profit in third quarter of FY 17
South Indian Bank has reported an increase in its net profit by 9.5 percent to Rs. 111 crore for October to December quarter as compared to Rs. 101 crore in the corresponding period a year ago. The increase in profitability has been contributed by growth in various loan segments including business loan, loan against property, agriculture loan as well as growth in current and saving accounts.
01st Dec 16 South Indian Bank reduces its MCLR up to 30 basis points
South Indian Bank has reduced its overnight and one month marginal cost of lending rate by 30 basis points to 9 percent and 9.05 percent respectively. The bank has reduced its six month lending rate by 5 basis points to 9.45 percent from 9.50 percent earlier. Revised rates are effective from 1st December, 2016.
12th Jul 16 South Indian Bank reports 46% rise in Q1 net profit
South Indian Bank has reported 46 per cent rise in its net profit at Rs 95.06 crore for first quarter ended June 30, 2016. Total income of the bank has increased by 9.47% at Rs 1620.67 crore. Growth was driven by increased lending to the agriculture, small and medium enterprise (SME), housing and auto sectors, which registered substantial growth year on year. Agriculture and SME advances rose 22 per cent, while home and auto loan portfolios increased by 19 per cent and 28 per cent, respectively.
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