About the Bank
State Bank of India is a leading multinational bank providing banking and financial services to people in different parts of the world. Founded in 1921 as the Imperial Bank of India, State Bank got its present name in 1955 and was nationalized in 1956. The bank made a presence in Singapore in the year 1977.
Today, the State Bank of India is one of the largest banks in India having over 20000 branches and is present in more than 36 countries with 190 offices abroad. The headquarter of the bank is in Mumbai, India. The State Bank of India is a public sector bank and is actively involved in the developmental activities in India.
History of the Bank
The State Bank of India has a history of 200 years. In 1806, the Bank of Calcutta was founded which was later named the Bank of Bengal. The Bank of Bengal was merged with the Bank of Bombay and Madras in 1921 to form the Imperial Bank of India. In the year 1955, the Reserve Bank of India (RBI) achieved control over the Imperial Bank and State Bank of India was created through an Act passed by the Parliament.
The State Bank of India is present in 36 countries today in the world including Singapore. The bank made its presence in Singapore in 1977. In 2008, the bank received the Qualifying Full Bank (QFB) license. It has 7 branches, 24 SBI Automated Teller Machines (ATMs) and over 180 ATMs through the shared ATM5 network.
At present, the SBI Group has five associate banks excluding the State Bank of India. It has a wide range of products and services for its customers to choose from.
State Bank of India’s presence in more than 36 countries itself speaks a lot about its performance. It is one of the top banks in India and largest in terms of assets. It has over 20000 branches in India and 190 offices abroad. By the end of 2014, the bank’s assets worth $ 400 billion, capital and reserves worth $ 24.60 billion (in excess) and deposits worth $ 307 billion.
Why Choose This Bank?
The State Bank of India is one of the top banks in India and a leading multinational bank in the world. It provides a wide range of products and services to its customers. Be it insurance, loans, etc. SBI has it all. The bank has an online platform from where a person can get all information about the bank and the services it provides in Singapore. It also provides its customers with the internet banking facility which makes it easy for them to handle their accounts. Applying for any products with the bank is easy and less time consuming. If a person has any issues or needs any information on any products provided by SBI, he can contact the bank.
Loans offered by State Bank of India, Singapore
SBI bank can help you in realizing your dream of owning your own home by providing you with a home loan or even a bridging loan if you are yet to receive the payment on your existing home but don’t want to wait to move into the house of your dreams, student loans for Indian students aspiring to study in Singapore, loans for your commercial properties, financing your assets and many more personal as well as well as business loans.
Find below the different types of loans offered by State Bank of India, Singapore -
- Personal Loans
- Corporate Loans
SBI Personal Loans
SBI, Singapore offers myriad personal loans for varied purposes including education, building your home, purchasing your office space or other retail units and even extra cash flow for a short period of time while continuing to maintain your existing term deposit. Using the personal loan offered by SBI, Singapore, you can not only realize your aspirations and dreams but also fulfill them at an affordable cost.
Find below the different types of personal loans offered by State Bank of India, Singapore -
You can use the corporate loans offered by SBI, Singapore for all your international operations in South and Southeast Asia. These loans are designed to facilitate the ambitions of medium and large scale enterprises on the island and further help them grow organically and inorganically.
Find below the different types of corporate loans offered by State Bank of India, Singapore -
- Fund Based Corporate Loans
- Trading Lines of Credit
- Asset Financing
- Credit Origination and Syndication facilities
- Secured Overdraft
- Loan Against Commercial /Residential Properties
Products and Services Offered in Singapore
The State Bank of India has a wide range of products and services for its customers to choose from. The products and services provided by the bank in Singapore are -
- Fixed Deposits
- Trade finance
- Escrow Services
- Services to NRIs
- Internet Banking
To get more information on the products and services, one should visit the bank’s Singapore page or contact any of the branches in the Island nation.
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The State Bank of India has 7 branches in Singapore and 24 Automated Teller Machines (ATMs) which are owned by the bank. It also provides its services in over 180 ATMs which are connected through the shared ATM5 network.
The State Bank of India has won many awards over the years. In 2014, SBI won many awards at the IBA Banking Technology Awards such as Best Internet Banking, Best Customer Management, Best Use of Technology in Payment System among others. The Banker Awards, D&B Polaris Awards, Edge Awards, PC Quest Awards, IDRBT Awards, SKOCH Awards and SKOCH Corporate Excellence Awards honored the State Bank of India with awards in 2014. The bank also won titles at the Asian Confederation of Business, Asian Leadership Awards, CMO Asia and World CSR Congress awards. The State Bank of India got the title of the ‘Best Bank’ from Asiamoney FX Poll of Polls in the year 2014.