Saturday, March 5, 2011

City Union Bank – Online Term Deposit.


City Union Bank – Online Term Deposit.

City Union Bank, a Bank with 106 years old history has launched a new Product -Online Term Deposits.

This is different from other Bank’s offering. All other Banks enable their customers to open Term Deposits via their Internet Banking Platform.

What differentiates CUB offering is that the customers can directly fill in the KYC Details ONLINE, generate the form and proceed with opening of the Term Deposit.

I have not come across such a product in the present Indian Banking scenario, and it is an innovative product.

I have gone through the process, and it seems quite simple. The Marketing Team will contact the customer, to collect the forms and also the funding cheque.

And, the response has been quite phenomenal.
Kudos to the Product Team.


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