South Indian Bank is one of the oldest banks in south India, established during Swadeshi movement. The establishment of the bank is the aim of some group of people who integrated together at Thrissur, Kerala, to provide a safe, secure, efficient and service dedicated repository of savings of the community on a single hand and to free the business community from the money lenders and also to offer loans based on ones need at lower interest rates. The bank incorporated as a scheduled commercial bank in 1946 under the RBI act.
The bank is listed on both NSE and BSE, now it’s a major private sector bank, headquartered in Thrissur in Kerala, India. The bank has 852 branches, 56 extension counters, 4 services branches and 20 Regional offices spread across more than 27 states and 3 union territories in the country. The bank has 1334 ATMs and 42 bulk note Acceptor/ Cash Deposit Machines across the country.
The bank opened a currency chest on behalf of the RBI in April 1992. It’s the first private sector bank to open an NRI branch in November 1992. It became the first bank to commence an industrial finance branch in March 1993 and Overseas Branch to cater exclusively to the export and import business in June 1993. The third largest branch network among private sector banks in India, with all its branches under the core banking system. It’s the first which implemented automation software and in-house partial automation solution operations since 1992.
The bank financial product and services include- Personal banking(Loans- Personal Loan, Car Loan, Home loan, Gold Loan, Education Loan, OTS Scheme for SME’s, Property Loan, SIB Commercial Vehicle Loan, SIB Pharma Plus, SIB Decor, SIB Rental Loan Schemes, and SIB Travel Delight)), NRI Banking, Business Banking and Online Banking.