Chandigarh, April 11, 2023: DBS Bank India has inaugurated its branch at Chandigarh, Sector 9-D. The newly relocated branch will offer a comprehensive portfolio of diversified financial products and services for large, medium, and small enterprises, and retail customers. DBS has been named by Global Finance for 14 consecutive years and brings a strong global expertise matched with a deep understanding of India.
DBS Bank India is poised for growth as it is set to leverage opportunities from its expanded footprint and customer base through a unique phy-gital (physical plus digital) model. The Bank has a network of ~530 branches across 19 states and 350 locations, with 22 branches in North India.
Commenting on the launch, Bharath Mani, Executive Director & Head – National Distribution, DBS Bank India, “North India is an integral market for us, and we look forward to strengthening our relationships with customers in the region. Chandigarh had topped Niti Aayog’s India Innovation Index in 2021 and we believe the region holds tremendous growth potential. We are bullish on the opportunities ahead and are well-positioned to serve customers through our strong digital proposition and physical footprint. We will continue to offer products & solutions that embed banking in the everyday lives of customers and empower them to Live more, Bank less”.
Shri Nitin Yadav, Home Secretary- Chandigarh added, “I congratulate DBS Bank India for opening a new branch in Chandigarh and wish them the best for their future endeavours”
DBS Bank India delivers superior solutions to its customers that make banking intelligent, intuitive, and effortless, frequently partnering with industry leaders in the ecosystem. It addresses everyday banking requirements through its innovative suite of offerings.
The Bank offers an industry-leading interest rate of 7% per annum on savings account balances above Rs 3 lakh up to Rs 5 lakh. Customers can also earn attractive interest rates on their fixed deposits, with a 7.50% per annum interest on fixed deposits and 8% per annum interest for senior citizens on deposits from 30 to 36 months.
Through its premium banking and wealth management proposition, Treasures, the bank offers an array investment options (mutual funds, portfolio management services, alternate funds etc.), insurance, NRI banking, FX, and asset solutions, developed in partnership with leading market players.
Additionally, DBS Bank India has curated a range of services for large, medium, and small enterprises in the country. The Bank offers an online credit solutions platform, “DBS Digital Business Loans,” which ensures easy access to business credit for the entire spectrum of micro, small, and medium-sized enterprises, offering up to Rs 20 crore in credit. DBS Bank India leverages the power of ecosystems and technology to help clients connect across the value chain and provide enabling solutions that drive efficiency and synergies for growth.
The Bank is also working towards strengthening its product portfolio, geographic focus, pricing, and customer segmentation. It aims to scale up its retail and SME lending businesses in the next five years, targeting 40% of its overall revenues from large corporates and 60% from its consumer banking and SME banking business.