CSB Bank Unveils 'Smart Save Account' to Revolutionize Retail Banking

CSB Bank has launched its 'Smart Save Account', a first in retail offerings after upgrading its core banking platform. It provides up to 7% interest on sweep-in Fixed Deposits, enhancing returns on idle balances without sacrificing liquidity. The launch aligns with the bank's digital transformation strategy.

CSB Bank announced the launch of its 'Smart Save Account', aimed at providing enhanced returns on idle balances while preserving liquidity. This comes after the successful upgrade of its core banking platform, enabling more automated and customer-centric offerings. The 'Smart Save Account' features an auto-sweep facility, transferring surplus funds into Fixed Deposits with up to 7% interest over a 13-month tenure.

The account is available in Savings, Current, and NRO variants, catering to diverse customer segments. Salaried individuals, business professionals, and Non-Resident Indians can benefit from this offering, which ensures liquidity without manual intervention.

Mr. Anupam Kumar, Head of Liabilities at CSB Bank, emphasized that the new account simplifies banking for customers, making their money work harder without compromising on convenience. This initiative is part of CSB Bank's effort to enhance its retail footprint through technological advancements.

(With inputs from agencies.)