Product Details
Bank Name
South Indian Bank
Account Name
SIB Ruby Savings Account
Account Type
Saving
Interest Rate
Balance Upto INR 2 Lackhs: 2.75% ,Balance Above Rs. 2 Lacs upto Rs. 1 Crore. Balance above 3 lakhs will be converted to Flexi Fixed Deposit in multiples of INR. 10,000/- with maximum holding period of 92 day, with an interest rate of 4.25%
Free Debit Card
No
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
INR 25,000
Debit Card Charges
Visa Platinum Joining Fee - INR 0. Annual fee - INR 300.
NEFT Charges
0
IMPS Charges
Upto INR 1,000: INR. 0; 1,001 to 1 Lakh: INR.5; 1,00,001 to 2 Lakh: INR 15, above INR 2 Lakh: INR 17
Fees and Charges
SIB Ruby Savings Account
Special Features
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Free NEFT and RTGS.
Facility of sweep in deposit over the threshold of INR 3 Lakhs
Cons
SIB Ruby Savings Account
The account comes with low interest rate and minimal value add features.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai