State Bank of India, (Canada) (“SBIC”) was established in 1982 as a wholly owned subsidiary of State Bank of India (SBI), the largest Bank in India with more than 200 year reputation for customer’s trust and service. SBIC is rendering yeoman service in Canada and especially in the Greater Toronto Area and British Columbia for the last 29 years, through its 7 branches: 4 branches viz., Toronto, Mississauga, Scarborough, and Brampton are in GTA and 3 branches viz., Vancouver, Surrey and Abbotsford are established in B.C. SBIC Branches offer excellent service to the customers with its local staff drawn from diverse communities and ethnic origin from Canada and a host of India Based Officials.
The Bank is ably guided in its mission of serving the cross section of customers across the globe, by its Board of Directors, numbering 10, half of whom are resident non-affiliates, in full compliance of Bank Act directives, and is functioning with its Corporate Office established at Royal Bank Plaza, in Downtown, Toronto, Canada. SBIC is headed by President and CEO drawn from India who is supported by a team of Senior Management with oversight functions of Credit Management, Risk Management, Legislative Compliance, Operations, Financial Control, and Business Development.
The Bank has been constantly endeavoring to introduce new products to improve its range of service to its dear customers. Some of the bouquet of products offered by SBIC are as below:
Registered Retirement Savings Plan—with tax savings benefit, in association with Canadian Western Trust.
Super Savers Deposit Scheme with a minimum balance of $ 1000 for individuals and $ 2000 for business customers offering attractive interest.
Term Deposit scheme for different maturities over 1 year with high interest rates.
Internet Banking facility with remittance options to various locations in India to its networked branches numbering more than 6000 and to other Banks also.
Tax Free Savings Account - GIC & Savings Account.
Debit Cards to access your account at any POS & ATM Terminal
Non-face to face account opening facility by downloading forms from the website at www.sbicanada.com, which saves time to the intending customers to begin a relationship with the Bank.
SBIC has been also serving the needs of Indian corporate houses doing business in Canada and also facilitating Canadian businesses/conglomerates to synergize with their Indian partners through our Parent Bank’s Indian network and expertise in providing quality service.