Private sector lender South Indian Bank has come up with new fixed deposit schemes recently. The schemes named SIB 700 and SIB 700 Plus have been launched by the bank as a token to mark its achievements in gaining a total business of Rs 63000 crore in the fiscal just ended.
CEO and MD of the bank, Dr Joseph said that the fixed deposits would range from Rs 1000 to Rs 1 crore.
Also, the new schemes would have also entail free insurance covers worth Rs 1 lakh for the customer coupled with favorable interest rates, said Dr Joseph.
The scheme has come into play from April 1, 2012 and would be available for a limited period.