SIB Insta –E-KYC SB account

Experience seamless banking Journey

(OTP based accounts opening through Aadhaar and PAN validation)

Salient Features of SIB Insta:

  • Paperless Instant Account Opening
  • Choose your preferred branch
  • No minimum balance penalty for 6 months
  • No debit card issuance fee and also Zero AMC for 1st year.
  • Earn 200 Reward points on your 1st remittance (min Rs. 1000)
  • 24x7 Mobile and Internet Banking facility
  • Payments done through digital channel are completely free(RTGS/NEFT/UPI).
  • Digi –E Lock facility through SIB Mirror + mobile application
Who can Open SIB Insta account?
  • All resident individual having valid Aadhaar & Pan card and are 18 years & Above.

(Existing customer? Please use the branch channel for account opening.)

What all documents required?
  • Valid Aadhaar card & Pan Card
How can I open an account?
 
  • Click on the link below which can be accessed through mobile or web:
How can I access to Mobile Banking -SIB Mirror+?
  • Once your account gets opened, you will receive a temporary MPIN on your registered mobile number with the bank for mobile banking- SIB Mirror+ registration
Or
  • Download SIB Mirror+ from Google play store and Apps store in IOS platform.

How can I get my SIB Insta Account to fully operational saving account to enjoy privileged services?

  • You need to complete the KYC within 12 months from the account opening date and convert the account to fully operation with unlimited banking services.

What will happen to the account on non-completion of KYC within 12 months?

  • The account will get closed after 12 months of account opening and the balance amount if any will be send to the communication address in the form of demand draft.
  • All the term loans availed in the account will be get freezed.
In Which category, SIB Insta is getting opened?
  • SIB Insta is getting opened under Scheme: SBSOB and GL code 05091
 

PRODUCT FEATURES AT A GLANCE

Particulars

 “SIB Insta”

Eligibility Criteria

Resident individuals

Type of Account

Resident SB

Balance requirement

No minimum balance stipulation

Age Group

18 years and above

Debit card

Available only those who remit Rs. 1000

Debit card charges

Nil Issuance Fee &  zero AMC for 1st year

NEFT/ RTGS/ UPI

All transactions done through digital channel only  is free

Loan Account Limit

Only Term Loans (TLs) not exceeding Rs. 60000/- a year

Upper Cap on aggregate credits in all accounts

2 lakh per year (all deposit together)

Upper cap on balance in all accounts

<=1lakh at any point of time

Cash Transaction*

No cash credit transactions are allowed

Cheque Book*

No cheque book are allowed

Account statement *

No Physical statement , Statement of account can be accessed through Mirror + application

Period of Account*

One Year only (Inc. TLs)

Other restrictions

The customer will not be allowed to open any other account until full KYC is completed for this account and scheme is changed

A/c will be closed, if full KYC not completed within 12 months after the account opening  and TLs if any will be freezed.

* Customer is eligible for getting privileged services on completion of full KYC.