SIB Full Form- South Indian Bank LTD.

What is SIB? The full form of SIB is South Indian Bank LTD. 

The "South Indian Bank" was established during the Swadeshi movement and is one of the oldest banks in South India. 

The founding of the bank was the realisation of the aspirations of a group of enterprising men who banded together in Thrissur, a significant town in the former State of Cochin, to: on the one hand, provide the people with a safe, effective, and service-oriented repository of community savings; and on the other, free the business community from the clutches of avaricious money lenders by offering need-based credit at reasonable interest rates. 
Using the latest technology, standards, processes, and procedures—where customer convenience is paramount—they serve customers with unwavering confidence and a commitment to values by offering a safe, flexible, and welcoming banking environment that also increases the value of the stakeholders.

Key Aspects and Features of SIB

• This account can be opened in the name of any resident who has reached the age of majority (18 years old) and is otherwise qualified to open and manage a bank account.
• The BC initiates enrollment, and there is no deposit required at the time of enrolling. Customers receive their smartcards and can initiate transactions with "Zero Balance" when their accounts are opened.  The additional documents and formalities involved are the customer's photo, documents proving their identity and address, introduction, nomination, and IT-related statements, among others. The BC will typically scan 10 of the customer's finger prints, of which at least 6 are required. Following a successful enrollment, BC will provide the customer with an enrollment slip produced by the Hand Held Terminal (HHT), which he must keep until the smartcard is delivered.
• The customer's smart card will need to be authenticated before deposits may be made. Withdrawals will undergo additional authentication using the customer's biometric fingerprint matching.
• Through the HHTs, customers can make deposits and withdrawals, check their balances, and obtain mini-ac statements.