RERA Account

An Exclusive Account for the RERA Complained Builders

The SIB RERA Account is your one-stop banking solution tailored to meet RERA compliance requirements. With integrated 3-in-1 account management, automated fund allocation, and zero administrative charges, this specialised account ensures seamless financial control for real estate developers, creating transparency and efficiency in every project.

Enjoy the multiple benefits offered by SIB RERA Account;

Compliance Made Simple: Effortlessly adhere to RERA regulations with a specially designed account for your real estate projects
Streamlined Fund Allocation: Automated transfers save time and reduce errors by ensuring funds are allocated as per RERA rules
Zero Administrative Costs: Enjoy no charges for account opening or maintenance, enhancing cost efficiency
Transparency & Accountability: Real-time digital access keeps stakeholders informed and builds trust

Take a look at the eligibility criteria for opening the SIB RERA Account:

Who Can Open:	Real estate developers and builders working on projects that fall under RERA guidelines
Eligible Projects:	Projects being developed with minimum 500 square metres land Number of units exceeding 8 units in all phases For projects where completion certificate has not been received
Required Documents:	RERA registration certificate of the project Developer’s identity and address proof A detailed project report

It is easy and simple to open the SIB RERA Account:

Visit your nearest South Indian Bank branch
Submit the completed application form and required documents
Bank staff will guide you through onboarding and account activation

Apply for an SIB RERA Account today!

Below are the fees and charges related to the SIB RERA Account:

Account Opening	Nil
Account Maintenance	Nil for Collection & Designated Accounts
Fund Transfers	Free
Additional Services	Refer to the detailed service charges.

Frequently Asked Questions

Get answers to your queries

The SIB RERA Account is a banking product combining three accounts, RERA Collection, RERA Designated, and Builder Accounts. It is designed to help developers comply with RERA guidelines.

At the end of each day, 70% of funds from the Collection Account are transferred to the Designated Account, and the remaining 30% are transferred to the Builder Account automatically.

Eligible projects include those with a minimum land area of 500 square meters, eight or more units, and projects that are yet to receive a completion certificate.

No, there are no charges for opening or maintaining the SIB RERA Account.

Yes, you can access and manage your transactions securely anytime, anywhere.

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