The biggest lender in the country, State Bank of India has now started a special branch just for the corporate salary account holders at the DLF Cyber Centre at Gachibowli, Hyderabad.
The branch is meant for the IT and engineering companies which are predominant near Gachibowli. The branch would be offering all banking facilities like deposit, loan, insurance, mutual funds and Internet banking.
Shiva Kumar, chief general manager of SBI (Hyderabad circle) said, about 3000 to 4000 accounts are anticipated in the branch by the end of this fiscal.
He said, “As the DLF premises gets occupied to its 16,000-person capacity, the branch will have the first mover advantage in gaining their accounts. We will also consider extending our working hours to suit the 24-hour schedules of the IT industry”.
The bank’s corporate salary account package is available in 4 variants providing anywhere banking, 0 minimum balance, free Internet banking and rebates on interest and processing fee on loans, remittance and maintenance charges on demat and eZ trade accounts.
Presently, the branch has 7 employees and would go up as and when required, Kumar said.
The branch has a Finmart lounge to let customers discuss products except the traditional banking transactions.
Besides these, special services meant chiefly to the target audience would be given such as e-tax, demat and online trading, and e-Invest for ASBA (Application Supported by Blocked Amounts).