Enabling Students to Focus on Education

The SIB Scholarship Savings Account is a specialized account designed for students receiving scholarships from various institutions. This account combines flexibility, accessibility, and security with no minimum balance requirement. It helps students focus on their academic pursuits while enjoying exceptional banking convenience and top-tier benefits.

Simplify your financial journey with these tailored features:

Exclusivity for Scholarship Students: Crafted specifically for students availing scholarships.
Convenient Digital Access:
- Effortless Mobile and Internet Banking for smooth transactions.
- IMPS/UPI facilities for instant fund transfers.
Unlimited Transactions:
- Free unlimited ATM withdrawals at SIB ATMs.
- Five free transactions at other bank ATMs per month.
Insurance Coverage: Added financial security with top-notch insurance schemes.

You must meet the following eligibility requirements to open SIB Scholarship Savings Account:

Students who are receiving any scholarships are eligible to apply for the SIB Scholarship Savings Account.

You need to provide the following documents to open the SIB Scholarship Savings Account:

Identify Proof: Passport, Voter ID, Aadhaar Card, or any other government-issued ID.
Address Proof: Aadhaar Card, Passport, Utility Bills, etc.
PAN Card/Form 60: This is mandatory for opening the account.

Open your SIB Scholarship Savings Account effortlessly in just a few steps:

Offline Mode:

Visit your nearest South Indian Bank branch.
Fill out the Account Opening Form.
Submit necessary KYC documents.

Online Mode:

Visit SIB Video KYC Portal.
Verify your identity using PAN & Aadhaar.
Complete KYC via video call.
Deposit funds to activate your account

Here are the fees and charges for SIB Scholarship Savings Account:

Initial Funding	Nil
Average Balance Requirement	Nil
Debit card Issuance Charges	Nil
Online NEFT Charges	Nil
Other Bank ATM Usage	5 free transactions per month.
Cheque Book Charges	Rs. 3 per leaf

Frequently Asked Questions

To get answers to the frequently asked queries

The SIB Scholarship savings account is specifically designed for students who are receiving scholarships from various institutions.

No, this is a zero-balance account, and no Average Monthly Balance (AMB) maintenance is required.

A Visa Classic debit card is provided with the SIB Scholarship account. The account is issued without any fee and there are no Annual Maintenance Charges (AMC).

The daily cash withdrawal limit is ₹50,000/- and the daily shopping limit is ₹2,00,000/-.

The customers can seamlessly use free Internet and Mobile Banking services alongside unlimited free UPI transactions and online NEFT services.

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