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Rediff.com  » Business » You need Rs 1 crore to open a/c at this SBI branch

You need Rs 1 crore to open a/c at this SBI branch

September 03, 2010 15:43 IST

After wooing the urban poor here with its 'One Rupee Bank' account, State Bank of India is now aggressively targeting the crorepatis.

The government lender has inaugurated first-of-its-kind branch for high networth individuals , where it takes minimum Rs 1 crore (Rs 10 million) to open an account, and that too on an invitation only.

Kohinoor Banjara Premium Banking Centre (named after the famed Kohinoor diamond that was discovered here), spread over 4,000 sq ft, offers specialised banking facilities like relationship managers, 24/7 lockers, extended banking hours, doorstep pick-up and drop facilities, in addition to pampering customers with five-star amenities at the branch.

"We have opened as many as 50 accounts so far. We are confident of opening another 150 by the end of the current fiscal," SBI Chief General Manager Shiva Kumar told PTI.

According to bank officials, an attractive feature of the branch is its lockers. "They are open 24 hours. People can come anytime and take or keep their jewellery and other valuable items. We have special dressing rooms for customers. These will be useful for late night function goers as they would not have to take the valuables home," they said.

Inaugurating the branch on Thursday, Diwakar Gupta, Deputy Managing Director, SBI, said while the bank has over 150 branches catering to HNIs, this centre is based on a different concept.

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