The Smart Save Account is available in Savings, Current and NRO variants and is designed to enhance returns on idle balances while maintaining liquidity. It features an auto-sweep facility that transfers surplus funds into Fixed Deposits, enabling customers to earn up to 7% interest on sweep-in Fixed Deposits with a 13-month tenure without manual intervention.
At the launch, Pralay Mondal highlighted the importance of the upgraded core banking infrastructure in enabling the rollout of such innovative offerings. The bank stated that the new system supports seamless automation and improved efficiency, forming the backbone of its evolving retail strategy.
The Savings Account variant is targeted at salaried individuals and customers maintaining higher balances, while the Current Account is tailored for businesses and professionals managing fluctuating cash flows. The NRO Account is aimed at Non-Resident Indians for managing India-sourced income such as rent, dividends and pensions.
The account offers a combination of flexibility and value, including an auto-sweep facility of surplus funds into fixed deposits, up to 7% interest on 13-month sweep-in deposits, and no lock-in period to ensure anytime liquidity. Customers are also provided with a complimentary RuPay Platinum debit card and can avail up to 30% discount on locker rentals.
Anupam Kumar, Head – Liabilities at CSB Bank, stated that the Smart Save Account reflects the bank’s vision of simplifying banking while enhancing customer value. He emphasized that features such as auto sweep, attractive returns and seamless liquidity allow customers to maximize their funds without compromising convenience.
With this launch, CSB Bank aims to strengthen its retail franchise by leveraging its upgraded technology platform to deliver more efficient and flexible banking solutions. Established over 100 years ago, the bank has a strong base in Kerala and a significant presence in Tamil Nadu, Maharashtra, Karnataka and Andhra Pradesh. It serves SME, Retail and NRI customers through 855 branches and 826 ATMs/CRMs, along with digital channels including debit cards, internet banking, mobile banking, point-of-sale services and UPI. The bank is listed on both NSE and BSE.
The introduction of the Smart Save Account underscores CSB Bank’s strategic push towards a digitally empowered, customer-first model, reinforcing its commitment to innovation, operational efficiency and enhanced financial accessibility in an increasingly dynamic banking landscape.
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