South Indian Bank has introduced a new product variant, SIB Quick FD, which allows customers to open fixed deposits (FDs) digitally using funds from other bank accounts through UPI. This innovative solution enables customers to invest in FDs seamlessly and conveniently, eliminating the need for a prior relationship with the bank.
The SIB Quick FD is a paperless and hassle-free process that can be completed in just 5 minutes. Customers only need to provide their PAN and Aadhaar details, making the on-boarding process streamlined and efficient. The product offers flexible terms, with FDs starting from just ₹1,000 and competitive interest rates. Additionally, deposits are insured up to ₹5 lakhs, ensuring peace of mind for customers.
One of the key benefits of SIB Quick FD is its 24/7 availability, allowing customers to open FDs at any time that suits them. The process is also UPI-enabled, enabling customers to fund their FDs quickly and easily. With SIB Quick FD, South Indian Bank continues to drive innovation and enhance customer experience through digital banking solutions.
Overall, SIB Quick FD is an attractive and secure way for customers to invest in FDs, with the added convenience of online on-boarding and UPI funding. The product’s competitive interest rates and flexible terms make it accessible to a wider audience, providing a higher return on investment. With its 24/7 availability and DICGC insurance coverage, SIB Quick FD is an ideal option for customers looking to invest in FDs.