About SBI, Singapore
State Bank of India has been playing a major role in fulfilling the global aspirations of Indian corporations through its 208 foreign offices in 34 other countries across the world. Our Singapore operations were set up in 1977 with an offshore banking license, equipping us with over three decades of experience in commercial and wholesale banking.
SBI Singapore achieved another milestone during the year 2008 with the grant of Full Bank status with QFB privileges. SBI has 5 retail branches, 25 SBI ATMs and over 200 ATMs via the shared island wide ATM5 network. SBI has a suite of retail banking products which complement its existing corporate banking products thus enabling us to service both individual and corporate customers.
We have a wide range of Corporate and Retail Products and our instant transfer facility for INR remittances is highly popular. This facility enables money transfers to more than 20,000 Branches of the State Bank group in India. We also connect to offer remittance facility to more than 80,000 RTGS enabled branches of other banks in India.
In the Retail area, we have Savings Accounts, Current Accounts, Term Deposits, Recurring Deposits and unique deposit products called Multi-Option Deposit (MOD) and Multi-Sweep Account. On the retail loans front, we offer mortgage loans comprising SIBOR linked and Fixed rate products. These products come to you with attractive interest rates and personalized service.
In Commercial and wholesale banking, our areas of operation include ASEAN, South East Asia and South Asia. A centralized syndication and participation team is active in coordinating and marketing syndication deals. Singapore, being the hub of the syndication activities of the Bank, covers the Asia Pacific region. The loan syndication desk has an extensive focus on transactions originating in the region. As mandated lead arrangers and participants, we have been forging relationships with most major banks in the area.