SIB Connect

SIB Connect (Academia) is a special category of savings account designed specifically for students in an Institution. The product typically offers benefits such as zero balance, free debit card, unlimited digital transactions etc. & also acts as a tool to help students to manage their Institution fee payments & other financial transactions.

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1.      Can all the students aged above 18 years open account in SIB Connect (Academia) account category ?

Ans. No. Students from institutions who are having tie up with our bank can only open accounts in SIB Connect (Academia)

2.      Is there any minimum balance required for SIB Connect (Academia)?

Ans. No, SIB Connect (Academia) is absolutely a Zero balance account without any AMB requirement.

3.      Once the course is completed can I continue SIB Connect (Academia) account?

Ans. Yes, the account can be used with all the existing privileges & freebies.

4.      What is the validity of my debit card?

Ans. Your debit card expiry is based on the course period. Card expires once the course is completed.

5.      Will I be issued with a new debit card once the old one expires?

Ans. No, the student needs to manually apply for a new debit card either by visiting branch or through SIB Mirror + app. There is no issuance charge for the debit card if the same variant (Visa Classic/Rupay Classic) is applied. However, normal AMC charges will be applicable for the same. 

6.      Can I apply for higher variant of debit card once my old card expires?

Ans.  Yes, you can apply for higher variants. Respective debit card charges (including issuance& AMC) will be applicable for the same.

7.      Is there any possibility to upgrade my SIB Connect (Academia) to any other higher variants of SB account?

Ans. Yes, the student can upgrade the account to higher variants by giving a consent letter to the nearest branch. Converted accounts will be applicable with all the specified features & charges.

8.      Can a converted SIB Connect (Academia) account be reversed back?

Ans. No, accounts once converted cannot be reversed back to the student category. 

*T& C

·   SIB Mirror Plus app should be activated for availing the E-lock facility.

·   Only the 1^st ATM card is eligible for full AMC waiver. Normal AMC charges will be applicable for the debit card which is applied after the expiry of the 1^st card.

·   ATM card issuance charges will be applicable if a higher card variant (other than Classic variant) is applied. 

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