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6th June 2016, 11:29 AM
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Join Date: Aug 2012
Re: State Bank of India Durban

State Bank of India (SBI) is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. The SBI group consists of SBI and five associate banks.

It has an extensive network, with 22,887 plus branches in India and another 191 offices in 36 countries across the world.

Deposit Schemes of State Bank of India (SBI) in Durban

Business Current Account

The Current Account simplifies banking for business and corporate clients.
Corporate Internet Banking (CINB) facility is provided for anytime anywhere access to funds.

Eligibility
Business Current account can be opened in the name of registered Company, Partnership firms or Trusts.

Features
Open with ZAR 1,000
Funds (ZAR) transfer to any bank in South Africa through online EFT/ RTGS
Direct Debit ECS facility
Receive remittance from any bank.
Send remittance to any country.
Idle funds in Business Current accounts may be invested in overnight call/ notice deposits to generate income.

Documents Required

A. Resolution of the Board of Directors for opening the Account with Bank and advising name of persons who will be authorized signatories to operate the account.
B. Company Documents –
I. Certificate of Incorporation of Company (CM1)
II. Notice of Registered Office and Postal Address ( CM22)
a. Bearing the stamp of the Registrar of Companies
b. Duly signed by the Company Secretary
III. Memorandum and Articles of Association
IV. Certificate of commencement of business

Benefits
• Very nominal account maintenance charges.
• Free Corporate Internet banking (CINB) facility.
• Free daily / fortnightly/ monthly online statement of accounts.
• Free SMS alerts of all transactions

Contact Detail:
State Bank of India (SBI)
115 Musgrave Rd, Durban, 4001, South Africa
Phone:+27 31 201 9973


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