Public sector lender, State Bank of Hyderabad has seen potential for growth in corporate salary accounts and plans to tap it to the fullest, informed managing director of the bank, Ms Renu Challu.
"Salary accounts are now a focus segment for us. We are offering a ‘Smart Salary Account' package with zero balance and a host of technology-based features such as automatic conversion to fixed deposits for higher interest," Ms Challu said.
The account package comes with features like integration with new pension scheme (NPS) of government and many others.
Ms Challu further said on these accounts that, "They are good. We do have a large number of salary accounts. We now made them more attractive and want to target IT companies."
Owing to the advanced technological lead by private peers, the bank had earlier lost a big chunk of corporate clientele' said Ms Challu. She added, "But now we have the best technology offerings."
The bank also offers customers the facility to switch existing loans of corporate employees from any other bank.