[Finextra] SBM Bank launches Ki Cash digital account
SBM Bank (India) Limited in association with Kaleidofin Private Ltd, a fintech platform (acting as Business Correspondent), announced the launch of ‘ki cash’, a fully digital product that combines low-cost full-service banking with quick disbursal of loans.
The savings account will serve to accelerate digital adoption in the informal sector opened using Biometric based e-KYC authentication. The savings account will offer free digital transactions; a free NACH setup, zero minimum balance and zero penalty on digital debit decline or mandate bounce. The savings account comes with a Rupay Debit card with a prebuilt insurance cover of up to two lakhs.