Retail Products and Services of State Bank of India

1 State Bank of India

State Bank of India "THE BANKER TO EVERY INDIAN"

A Project on

Retail Products and Service of State Bank of

India

Guided By: Prof. Amol Charegaonkar

Prepared By: Nishant Singh - B1F 31

Amit Khandelwal - B1F 23


Retail Products and Services of State Bank of India

1.SBI Housing Loan

1.SBI Deposit Scheme

1. eZ-trade@SBI

2.SBI Car Loan

(a) Term Deposit

2.Atm Services

3.Student Education

Loan

(b) Current Deposit

3.Internet Banking

4.Loan Against

Mortgage of Property

(c) Savings Bank

Account

4.Foreign Inward

Remittance

(d)No Frills Account

5.Locker Facility

(e) Premium Saving

Account

6.Cards

(f) Capital Gain Plus

Account


(g) Special Term

Deposit Account

(h)Multi Deposit

Scheme

(i) NRI Deposit

Scheme

2.Recurring Deposits

Account

State Bank of India offers a wide range of products in

“Personal Banking” segment which are as follows:

1. SBI Deposits Scheme:

Open an account with any of SBI branches, all of them are fully computerised, and realise the

advantage of the vast network. Place funds in Multi Option Deposit Scheme, a term deposit

which is not fixed at all and comes with a unique break-up facility which provides them full

liquidity as well as benefits of higher rates of returns, through the savings bank account.


(A) Term Deposits: With this term deposit customer can earn a higher income on their

surplus funds by investing those with bank.Bank provides security, trust and competitive rate of

interest.

Period of time: 7 days to 10 years

Affordable Low Minimum Deposit Amount: Customer can open a term deposit account with SBI

for a nominal amount of Rs.1000/- only.

Interest Rates for Term Deposits:

‘Below Rupees One Crore’ effective from the 7th

September 2012 would be as under:

(All figures in % per annum)

5Tenor

Below Rs.15 Lakhs Rs.15 lakhs to less than Rs. 1 Cr

Existing Rates w.e.f. 07.08.2012

Revised rates w.e.f.

07.09.2012

Existing Rates w.e.f. 07.08.2012

Revised rates

w.e.f. 07.09.2012

7 days to 90 days

7 6.5 8 7.5

91 days to 179 days

7 6.5 8 7.5

180 days 7 6.5 8 7.5

181 days to 240 days

7.25 6.5 8 7.5

241 days to less than 1

year 7.5 6.5 8 7.5

1 year to less than 2 years

9 8.5 9 8.5

2 years to less than 3

years

9 8.5 9 8.5

3 years to less than 5

years

9 8.5 9 8.5

5 years and up to 10 yr.

8.5 8.5 8.5 8.5


Interest Rates of Term deposits For Seniors Citizen:

The interest rates payable on deposits to resident Indian Senior Citizens (60 years and above) for

Domestic Term Deposits ‘Below Rupees One Crore’ effective from the 7th

September 2012

stands revised as under:

(All figures in % per annum)

Tenor

Below Rs.15 Lakhs Rs.15 lakhs to less than Rs. 1 Cr

Existing Rates w.e.f.

07.08.2012


07.09.2012

Existing Rates

w.e.f. 07.08.2012


07.09.2012

7 days to 90

days 7 6.5 8 7.5

91 days to

179 days 7 6.5 8 7.5

180 days 7 6.5 8 7.5

181 days to

240 days 7.25 6.5 8 7.5

241 days to

less than 1

year 7.5 6.5 8 7.5

1 year to

less than 2

years 9.5 9 9.5 9


2 years to

less than 3

years 9.5 9 9.5 9

3 years to

less than 5

years 9.5 9 9.5 9

5 years and

up to 10

years

9 9 9 9

(B) Current Deposit Scheme

Benefits:

(1) Card Convenience

Customers get a free ATM cum Debit Card and can have access to the widest network of ATMs

across the country to withdraw cash, enquire about their balance, etc. Moreover, their card

enables them to shop at a large number of Merchant Establishments in India.

(2)Easy and Wide Accessibility

Customers can transact at their convenience, saving time and cost through SBI Internet Banking.

They can also withdraw cash from Maestro endorsed ATMs of other banks under Multi-lateral

sharing, at a nominal fee. (Free Upto 5 transactions in a month in SB Account).


(3)Monitoring Customer Account

They can monitor and control their funds through SBI Internet Banking or/ and through

Passbook/ statement of account facility.

(4)Transaction Ease

Unlimited number of payments

Make payments by giving us standing instructions

Remit funds from any part of the country to customer account.

Upcountry Cheque Collection facility.

Other benefits:

Overdraft facility.

Transfer of accounts between our wide networks of branches.

Nomination Facility - Available.

Low minimum balance requirements.

Important Terms & Conditions:

1. Overdraft facility available based on credit history.

2. Free ATM / Debit Card in the 1st year; charge from 2

nd year onward ( i.e. Rs 100)

3. No restrictions on number of Payments / Withdrawals.

4. No interest paid on Deposits.

5. Transfer of account to any branch possible.

6. Account maintenance charge applicable.

7. No Passbook is issued but Statement of account is issued.

8. Nomination facility available.

9. KYC Norms of RBI to be followed for opening of Account.


(C) Savings Bank Account

The Savings Bank Account helps customers to plan and save for their future financial

requirements. Their savings remain liquid, safe and earn moderate interest.

Key features:

1. No Minimum Balance requirement.

2. Personal Accident Insurance of Rs. 4 lakhs available at an annual Premium of Rs. 100/-*

3. Earn Interest at 4.00% p.a. on customer savings on daily balance.

4. Transfer of accounts between their wide networks of Branches (more than 14000).

5. Multicity cheques available.

6. Internet Banking, Mobile Banking, Kiosk Banking available.

7. Safe Deposit lockers available.

Internet Banking

Customers can transact at their convenience, saving time and cost through SBI Internet Banking

site ‘https: //www.onlinesbi.com’.

They can use Internet Banking for multiple operations like –

i) Opening and closing of Fixed Deposit.

ii) Opening of Recurring Deposit.

iii) Fund transfer.

iv) Utility bill payments.

v) Online shopping including rail tickets booking.

vi) RTGS/NEFT.

vii) Investing in IPOs through Application supported by Blocked Amount.

viii) Western Union Money Transfer.

ix) E Tax deposit.

http://www.onlinesbi.com/


x) View Account statement and Demat operations.

xi) Set up Standing Instructions.

xii) View Form 26 AS (Income Tax ledger).

xiii) Outward foreign remittance.

xiv) They can use Internet Banking through their mobile phone through

‘https://m.onlinesbi.com’ with mobile friendly features.

Multi-city Cheques: All their Savings Bank account customers of per segment enjoy the

ultimate convenience of multi-city payment and the benefits of the largest network of more than

14000 branches of SBI. All the cheques issued by the customers are paid at par by the paying

branch. 50 Multicity cheque leaves (plus cheques given along with welcome kit) free in the first

instance thereafter Rs. 2/- is charged for each subsequent leaf.


1. Interest is calculated on a daily balance

2. Nomination facility is available

3. Passbook issued free of charge

4. 50 Multicity cheque leaves (plus cheques given along with welcome kit) free in the first

instance.

5. Multiple variants of ATM-cum-Debit Cards available

6. No Minimum balance requirement

7. Inter Core charges NIL

(D) Basic Banking –No Frills Account

This account comes with very low minimum balances as well as low/ nil charges, to cater to the

needs of the individuals from the vast sections of population who are, otherwise, not fulfilling

certain conditions of the existing Savings Bank account requirements.

https://m.onlinesbi.com/


Details are as under:

Eligibility: Individuals of 18 years and above earning a gross income of Rs.5000/- p.m. or less.

Mode of operation: Single/ joint

Initial deposit amount: Rs.50/- to open the account

Minimum balance: Nil

Maximum balance/ amount: Rs.10, 000/-, being the total value of business connection of

the account holder, including other deposit accounts.

Rate of interest: As applicable to Savings Bank account, i.e. 4.00% p.a. (w.e.f. 03.05.2011)

Cheque facility: Available.

ATM-cum-debit card: Will be issued free of charge.

Internet Banking facility: Not available

Number of accounts: Ordinarily, the customer will not be allowed to open more than one

basic banking 'no-frills' account.

Pass book: Will be issued, updating will be permitted between 11th and 20th of the month.

Charges for availing services other than those covered here: The schedule of charges for

availing services other than those covered in this product is being displayed in the branch

premises/ notice board. These are also available in this web site under "Revised service charges,

w.e.f. 11.02.2008".

Nomination facility: Available

Product available at: All branches, except specialized branches.


1. Individuals 18 years & above with monthly income of Rs.5000/- or less.


2. Maximum balance in the a/c with all other deposits accounts should be Rs. 10,000/-

3. When the balance exceeds Rs. 10,000/-, Normal SB a/c rules and charges will apply.

4. No minimum balance stipulation but at the time of opening a/c Rs. 50/- minimum deposit.

5. Cheque Book facility available.

6. ATM-cum-Debit Card issued free of cost in the 1st year

7. Nomination facility available

8. Interest payable on daily balance basis

(E) Premium Savings Account:

This provides an enriched version of Savings Bank account consisting of various concessions

and add-ons. It is suitable for the High Net worth Individual/ Mass Affluent customers.

Brief features:

Eligibility Residents, above 18 years of age

Mode of Holding Singly/ Jointly/ Jointly with survivorship benefits.

Type of account Savings Bank account. It will be linked to Multi Option Deposit (MOD)

account, for auto sweep, for issue of Term Deposits and unitized break-up

facilities.

Available at At all CBS branches

Minimum balance i) Savings Bank Component: NIL

ii) MOD Component: Each MOD Rs. 10,000/-

Rate of interest i) Savings Bank Component: As applicable to Savings Bank account.

ii) MOD Component: As applicable to the Term Deposits of tenure as opted

by the customer.

Auto-sweep facility i) Auto-sweep facility will be operative at monthly intervals and Term

Deposits (TD)/ Special Term Deposits (STD) would be created under the

MOD scheme, in units of Rs.1,000/-, subject to a minimum amount of Rs.

10,000/-. The facility of unitized break-up will also be available for

withdrawing the deposits conveniently.


Period of deposit MOD Component: 1 year to 5 years, in round months.

Facilities available i) Cheque facility: 50 Multicity cheque leaves (plus cheques given along

with welcome kit) free in the first instance thereafter Rs. 2/- is charged for

each subsequent leaf.

iii) Unlimited number of debits per half-year

iv) ATM- cum-Debit card facility: Gold cards (Master/ Visa) will be issued,

free of cost.

v) Internet Banking facility: Provided free.

vi) SMS Alert: Provided, free

vii) Anywhere Banking: Inter-core transactions will be allowed with 25%

concession in the prescribed service charges.

vii) 50% concession in draft issue charges and cheque collection charges

viii) TTs/ Bankers Cheques will be issued free (out of pocket expenses for

TTs will be recovered).

ix) No service charges in respect of outward RTGS/ NEFT transactions.

Penalties Closing the account before completion of 12 months: Rs. 500/-.

Others i) Terms and conditions such as transferability among branches, dormant,

inoperative, nomination, linking to MOD account and standing instructions

as applicable to normal Savings Bank/ MOD account will be applicable.

ii) Conversion of existing SB/ Savings Plus accounts will be permissible.

(F) Cap Gains plus Account (Capital Gain Scheme 1988)

Brief Features:

Eligible Applicants Resident Individuals, Body of individuals

Non- individuals like Hindu Undivided family (HUF), sole

proprietorship firms; partnership firms companies,

Association of persons etc.

Non-resident Indians, Not Ordinarily Resident assesses.

Artificial judicial persons who have capital gains, taxable


(G) Special Term Deposit

This plan helps customers to earn interest on interest, thus giving them a two-fold income. They

deposit their money with SBI for any period between six months to 10 years, and bank pays them

in India.

Minimum Amount Rs. 5,000 in case of Term Deposits and Rs. 1,000 in case of

Saving Banks a/c

Maximum Amount No ceiling

Period of Deposit No Not exceeding 2/3 years from the date of transfer of original asset

as given below-

2 years - if capital gains is U/s 54B, 54 F. 54 G

3 Years - if capital gains is U/s 54, 54 D

Interest Rate As applicable to normal Savings and Term Deposits for respective

maturities. No additional interest rate benefit for Senior

Citizens.

Coverage The Capital Gains Deposit Scheme is operative at all branches

except rural branches.

Premature Payment Premature payment of Term Deposit is permitted only after

production of specific authority letter/ certificate from the Income

Tax Officer having jurisdiction and on the terms mentioned in the

letter of authority

Loan facility No loan facility against this deposit is available

This term deposit can neither be accepted as margin money for

non-fund based nor as collateral to any type of fund-based

facilities.

Accounting

Procedure In case if the customer is not a SBI customer SBI and then submits

the application form for Cap Gains Plus account.

Nomination Nomination facility is available for the deposits

Transfer of Account Account can be transferred from one branch to another branch


interest on their deposited money plus on the interest what they earn. Thus their interest gets

compounded every quarter giving customers higher returns.

Affordable/Very Low Minimum Deposit Amount

Customers can open a Special Term Deposit with SBI for a nominal amount of Rs. 1000/- only.

Features:

Safety - Banks understands the value of customers’ hard earned money and continues to deliver

on their promise of safety and security over 200 years.

Liquidity

Loan /overdraft facility: Depositors can avail a loan/overdraft against their deposit. SBI

provides them loan / overdraft up to 90% of their deposit amount at nominal cost. So they

continue to earn interest in their deposit and still can meet their urgent financial requirements.

Premature Withdrawal

There shall be no penalty for premature withdrawal of deposits of tenors up to 180 days provided

these have remained with the bank for at least 7 days.

In other cases of premature withdrawal, the interest shall be 0.50% below the rate applicable for

the period the deposit has remained with the Bank or 0.50% below the contracted rate, whichever

is lower. However, no interest will be paid if the deposit remains less than 7 days period.

These instructions for premature withdrawals will apply only to fresh deposits and renewed

maturing deposits.

Transferability

Transfer of Special Term Deposits between the wide network of SBIs’ branches without any

charge.

Flexible / Timely Payment of Interest

SBI assure timely delivery of the proceeds of customers’ deposit with interest, on maturity.

Flexibility of payment on maturity through Cash (subject to prevalent Income Tax Act), Banker's

Cheque, Credit in Savings Bank/Current account


Others

Special Term Deposits are available at all SBI Branches

Easy and convenient access of 24X7 information at SBI internet banking

Nomination Facility is also available

Tax Implications

Tax Deductible at Source, as per Income Tax Act

Automatic Renewals

There is no need for depositors’ to keep track of the maturity of their deposits. Their deposits

with the bank is renewed automatically, post maturity. And they continue to earn interest for

same period as that of their matured deposit, at the interest rate prevailing at the time of maturity.

Automatic renewals take place where there are no standing instructions for renewal.

Flexibility to convert customers’ Term Deposit to Special Term Deposit and vice versa

Customer can convert their Term Deposit to a Special Term Deposit, which provides

compounded rate of interest to multiply their money faster.

Customer can also convert Special Term Deposit to a Term Deposit to receive monthly/quarterly

interest payments to match their financial requirements.

Important Terms & Conditions

1. Interest will be paid at the contracted rate irrespective of change in the rate thereafter.

2. Period of deposit 6 months to 10 years.

3. Loans / OD up to 90% of the Principal at 0.75% above the TDR rate.

4. Premature withdrawal facility available at 0.50% less interest than the actual period

deposit has remained with the Bank, however for tenors up to 180 days No Penalty.

5. Quarterly Interest payment and credited to the Principal account.

6. TDS deducted at prevalent rate is deducted at source if Form 60 not submitted.


7. Auto renewal is exercised if maturity instructions are not given.

8. Permission to convert STDR to TDR and vice versa required.

9. Nomination facility available.

(H) Multi Option Deposit Scheme

The Multi Option Deposit (MOD) Account is a combination of Savings Bank or Current

Account with Term/ Special Term Deposit Accounts, so that one can securely write cheques up

to the balance in the MOD account or up to the drawing power available as overdraft in the

Current account. Withdrawals through ATMs can also be conveniently made.

Features:

Complete Liquidity.

Convenience of Overdraft.

Customers can earn a higher rate of interest on their deposit, without the dilemma of

locking it for a long period.

At the time of need for funds, withdrawals can be made in units of Rs.1,000/- from the

Deposits by issuing a cheque from Savings Bank Account or through overdraft facility

from Current account.

Flexibility in period of Term Deposit from 1 year to 5 years.

Customer can open a MOD account with SBI for a minimum amount of Rs. 10,000/-

only.

MOD Scheme is available at all SBI Branches.

Easy and convenient access of 24X7 information at SBI Internet Banking.

Nomination Facility is also available.

Know Your Customer (KYC) Guidelines


Documents required for opening deposit accounts:

The Customer identification will be done on the basis of documents provided by the prospective

customer as under,

a) Passport or Voter ID card or Pension Payment Orders (Govt./PSUs) alone, whereon the

address is the same as mentioned in account opening form.

b) Anyone document for proof of identity and proof of address, from each of the under noted

items:

Proof of identity:

i) Passport, if the address differs from the one mentioned in the account opening form

ii) Voter ID card, if the address differs from the one mentioned in the account opening form

iii) PAN Card

iv) Govt. / Defence ID card

v) ID cards of reputed employers

vi) Driving License

vii) Pension Payment Orders (Govt. /PSUs), if the address differs from the one mentioned in the

account opening form

viii) Photo ID card issued by Post Offices

viii) Photo identity card issued to bonafide students of Universities/ Institutes approved by UGC/

AICTE

Proof of address:

i) Credit card statement

ii) Salary slip

iii) Income tax /wealth tax assessment

iv) Electricity bill

v) Telephone bill

vi) Bank account statement

vii) Letter from a reputed employer


viii) Letter from any recognized public authority

ix) Ration card

x) Copies of Registered leave & license agreement/Sale Deed/Lease Agreement may be accepted

as proof of address.

xi) Certificate issued by hostel and also, proof of residence incorporating local address, as well

as permanent address issued by respective hostel warden of aforesaid University/institute where

the student resides, duly countersigned by the Registrar/Principal/Dean of Student Welfare. Such

accounts should be closed on completion of education/ leaving the University/ Institute.

xii) For students residing with relatives, address proof of relatives along with their identity proof,

can also be accepted provided declaration is given by the relative that the student is related to

him and is staying with him.

2. Recurring Deposit: With this deposit scheme a customer can create a fund for their children's education or marriage

or to buy a car or for a dream holiday. With SBI Recurring Deposit scheme a customer can save

a little every month so that at the time of need they have sufficient funds to achieve their

financial goals.

Period of Time:

in period of deposit with maturity ranging from 12 months to 120 months.

minimum monthly deposit amount.

can start a Recurring Deposit with SBI for a monthly instalment of Rs.100/- only.


1. Monthly Rs. 100/- no maximum. b) Deposit in Multiple of Rs.10/-

2. Minimum period 12 months maximum 120 months

3. Rate of interest as applicable to Bank’s TDR / STDR for the period of the RD


4. Premature withdrawal allowed at 0.5% below the rate applicable for the period the

deposit has remained with the Bank

5. Loan / Overdraft facility available against the balance in RD account

6. Penalty charges for non-Deposit of monthly installments –

7. For a/c of period 5 years and less --Rs. 1.50 per Rs. 100/- per month

8. For a/c of period above 5 years- Rs. 2.00 per Rs. 100/- per month

9. No Cheque Book / ATM Card will be issued

10. Passbooks are issued

11. Nomination facility available

3. SBI Housing Loan

There are 3 types of home loan products offered by SBI:

(1) Home Loan Products Variants

(2) Related Home Loan Products

(3) New Products

(1) Home Loan Products Variants

I) SBI Max Gain

Home Loan as Overdraft: This is an innovative and customer-friendly product enables them to

earn optimal yield on savings and minimize interest burden on Home Loans, with no extra cost.

The loan is granted as an Overdraft facility with the added flexibility to the customers to operate

their Home Loan Account like there SB or Current Account.


Minimum Loan Amount: Rs.5 lacs

Maximum Loan Amount: Rs.1 Crore

II) SBI Realty

Home Loan for the purchase of plot of land for the purpose of construction of dwelling unit:

This is a unique product when a customer is lookout for a loan to purchase a plot of land for

house construction. The loan is available for a maximum amount of Rs.1 crore and with a

comfortable repayment period of up to 15 years.

III) SBI Home Equity

This scheme is launched for granting personal loans to the banks home loans customers against

the security of their house property. The loan can be used for any purpose, viz. extension/repair

of house, purchase of car/ consumer durables, education / medical expenses of family members,

personal expenses, etc. There will be no need to obtain documentary evidence for the end-use of

funds. However a certificate from the customer in the application to the effect that the loan will

not be used for speculative purposes would be obtained.

IV) NRI Home Loans

Home loans to nonresidents and persons of Indian Origin (holding a foreign passport)

Eligibility:

Individual(s) over 18years of age with a steady source of income who;

Are Non Resident Indians (NRIs) holding a valid Indian passport.

Are persons of Indian Origin (PIOs) holding a foreign passport.

Minimum employment tenure in India/abroad not less than 2 years.


Loan Amount:

The loan amount is to be determined on the basis of repayment capacity taking into account

income, age, assets and liabilities, qualifications, stability of occupation, and employment

prospects on return. The loan amount is subject to the following:

Minimum: Rs. 3 lacs

Maximum: Maximum permissible loan amount would be determined by EMI/NMI ratio criteria

as applicable to regular Home Loans scheme for Resident Indian customers.

V) SBI Tribal Plus

Special Home loans for Hilly/Tribal Areas

This is a special Scheme designed for Hill/Tribal areas for extending financial assistance to

individuals in such areas to:

a) Purchase or construction of a new house / flat (without mortgage of land)

b) Purchase of an existing (old) house / flat which is not more than 10 years old.

c) Repair /Renovation/extension of an existing house or flat.

d) Loans given against Third Party Guarantee

e) Maximum loan Rs.10 lacs

f) Maximum Loan tenure 15 years

VI) Gram Niwas

Home Loans to farming and poorest of the poor in rural areas

The Scheme covers all rural and Semi-urban centers. “Rural Area” for the purpose of the Scheme

is the area comprised in any village including the area comprised in any town, the population of

which does not exceed 50000 as per 2001 census. The scheme seeks to provide home loans to

farming and poorest of the poor in rural areas for the purpose of purchase or construction of a


house, repairs and renovation, purchase of plot for the purpose of construction of a house/shed

etc.

VII) Sahyog Niwas

Rural Home Loans to self-help groups

This scheme has been instituted to finance the self-help groups with a good track of payment

record for 2 years, for on lending to members for housing in rural areas, covering the following

purposes.

i) For the purchase or construction of a house exclusively or including the housing needs of

activities carried by them. (Dairy shed, tailoring shed/shop, grocery stores etc.)

ii) For the renovation or repair of an existing house / shed

iii) For the purchase of a plot of land for the purpose of house construction

iv) For the extension of existing house / work space to existing house / shed.

(2) Related Home Loans Products:

I) Earnest Money Deposit (EMD) Scheme

This scheme is designed for financing against earnest money for allotment of a house/plot.

Individuals above 21 years of age and with a steady source of income are eligible to avail loans

under this scheme.

Features of the Scheme:

1. No minimum income criteria.

2. Margin waived in all cases.

3. Eligible for 100% of application money, subject to maximum loan amount of Rs.10 Lacs.

4. Waiver of security in all cases irrespective of the loan amount.

Important Terms and Conditions:

Allotment letters/refund orders should be routed through SBI.

Lump sum amount equal to 6 month’s interest to be taken upfront


II) SBI Reverse Mortgage Loan

Loan for welfare of senior citizen in India:

This Reverse Mortgage Loan Enables house-owning Senior Citizens having inadequate income

to meet their financial needs for renovation/repairs to house, medical & other personal purposes.

There is no compulsion for the borrower to repay a RML during his or her lifetime or till such

time he or she continues to stay in the house.

(3) New Products of SBI:

I) SBI Surakshit Home Loan

Home Loans with Life Cover.

Other features like tenure, Loan to Value (LTV), eligibility are as per the standard schemes.

Life Insurance Premium can be added to the Project Cost.

II) SBI Yuva Home Loan

Eligibility: Salaried employees of Companies from the private sector, MNCs, Government

undertakings, PSUs, Government employees.

Age: Between 21 years to 45 years

Minimum Net Monthly Income: Rs.30, 000

Loan Term: Maximum 360 months.

Permissible loan amount: 20% higher

Repayment: First 36 months – Only the interest applied during the month will be recovered,37th

month onwards – Regular EMIs.

Type of Loan: Term Loan Only


III) SBI Home Loan PAL (Pre-Approved Limit)

The Modalities are as under:

1. All the documents prescribed for Home Loan, except property documents will be collected

from the applicant along with the application form.

2. The loan eligibility will be assessed on the basis of income details of the applicant and PLAL

issued.

3. Non-refundable processing fee as applicable to the Home Loan will be collected upfront.

4. PLAL will be valid for a period of 2 months. Property papers will be required to be

submitted by the borrower within the validity of PLAL. Processing fee will not be levied again.

5. Pre-approved loan arrangement letter (PLAL) will carry the eligible loan amount calculated

on the basis of prevailing interest rates. Loan amount calculated on the basis of prevailing

interest rates will be valid for a period of 1 month (If the interest rate is revised downwards

within a period of 1 month, then the borrower will be given the benefit of such downward

revision.). Thereafter the interest rates applicable on the date of sanction of Home Loan will be

applicable.

6. Minimum Loan amount: Rs.10 Lacs.

7. Other features like tenure, Loan to Value (LTV), eligibility are as per the standard schemes.

Features of Home Loans:

Eligibility:

Minimum age: 18 years as on the date of sanction

Maximum age: 70 years .i.e. the age by which the loan should be fully repaid, subject to

availability of sufficient, regular and continuous source of income for servicing the loan

repayment.


Loan Amount:

Actual loan amount will be determined taking into consideration such factors as applicant’s

income and repaying capacity, age, assets and liabilities, cost of the proposed house/flat etc. To

enhance loan eligibility customer have option to add:

1) Income of customer spouse/ customer son/ daughter living with customer,

provided they have a steady income and his/ her salary account is maintained

with SBI.

2) Expected rent accruals (less taxes, cess, etc.) if the house/ flat are being

purchased are proposed to be rented out.

3) Depreciation, subject to some conditions.

4) Regular income from all sources.

Security: Equitable mortgage of the property

Margin/ LTV Ratio:

Loan Amount Margin (Min.) Maximum LTV Ratio

(Max.)

Upto Rs. 20 Lacs 10% 90%

Above Rs. 20 Lacs. 20% 80%

Home Loans - Interest Rates:

All Rate are floating only,

(Base Rate= 9.75% p.a.)

Loan Amount Linkage with Base Rate over the

tenor of the loan

Effective Rate


Upto Rs. 30.00 lacs 0.25% above Base Rate 10.00% p.a.

Above Rs. 30.00 lacs 0.40% above Base Rate 10.15% p.a.

No fixed rate option in any limit bracket.

Repayment of Loan Amount:

Repayment period: Maximum 30 years (or) Up to the age of 70 years (the age by which the

loan should be fully repaid) of the borrower, whichever is early.

Moratorium period (Repayment holiday): The moratorium period is included within the

maximum repayment period.

Documents Required For Home Loans:

List of papers/ documents applicable to all applicants:

Completed loan application

3 Passport size photographs

Proof of identify (photo copies of Voters ID card/ Passport/ Driving

license/ IT PAN card)

Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill/

Property tax receipt/ Passport/ Voters ID card)

Proof of business address for non-salaried individuals

Statement of Bank Account/ Pass Book for last six months


Signature identification from present bankers

Personal Assets and Liabilities statement

For guarantor (wherever applicable):

· Personal Assets and Liabilities Statement

· 2 passport size photographs

· Proof of identification as above

· Proof of residence as above

· Proof of business address as above

· Signature identification from his/her present bankers

Additional documents required for salaried persons:

Original Salary Certificate from employer.

TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly

acknowledged by IT Deptt.

Additional documents required for Professionals/self- employed/ other IT assesses:

Acknowledged copies of three years I.T. returns/ Assessment Orders.

Photocopies of challans evidencing payment of advance Income Tax

(4) SBI Car Loan:

(a) SBI New Car Loan Scheme:

Salient features:

No Advance EMI

Longest repayment tenure (7 years)

Lowest interest rates

Lowest EMI


LTV 85% of 'On Road Price' of car (includes registration, insurance and cost of

accessories worth Rs 25000), 90% in case of Corporate Salary Package accounts

Interest Calculated on Daily Reducing Balance

Flexibility of payment of EMI anytime during the month

No pre-payment penalty

Free Accident insurance

Optional SBI Life cover

Overdraft facility available

Purpose: For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs.

Loan Amount: There is no upper limit for the amount of a car loan. A maximum loan

amount of 48 times of Net Monthly Income or 4 times of Net Annual Income can be

sanctioned.

Eligibility: To avail an SBI Car Loan, the customer should be:

Individual between the ages of 21-65 years of age.

Regular employee of State / Central Government, Public Sector Undertaking, Private Company

or a reputed establishment.

Professionals, self-employed, a businessman, proprietary/partnership firms who is an income

tax assesses.

Person engaged in Agricultural and allied activities.

Net Annual Income Rs. 2, 50,000/- and above.

Documents Required:

The customer needs to submit the following documents along with the completed

application form:

1. Statement of Bank account of the borrower for last 6 months.

2. 2 passport size photographs of borrower(s).

3. A copy of passport /voters ID card/PAN card.

4. Proof of residence.


5. Latest salary-slip showing all deductions

6. I.T. Returns/Form 16: 2 years for salaried employees and 2 years for professional/self-

employed/businessmen duly accepted by the ITO wherever applicable

7. Proof of official address for non-salaried individuals

Repayment: The customer can enjoy the longest repayment period in the industry with Sbi as

long as 84 months.

(b) Certified Pre-Owned Car Loan:

SBI offers:

• No Advance EMI;

• Longest repayment tenure (7 years);

• Lower interest rates

• Lowest EMI;

• LTV 85% of ‘On Road Price’ of car (includes registration, insurance and cost of

accessories),

• Interest Calculated on Daily Reducing Balance;

• Flexibility of payment of EMI anytime during the month;

• Low pre-payment penalty, only 2%;

• Low processing fee (only 0.51% of loan amount);

• Free Accidental insurance; Optional SBI Life cover;


Purpose: Term Loans for purchase of Certified Pre Owned car, from certified used car dealers,

not more than five years old. The loan should be repaid within 7 years from the date of the

original purchase of the vehicle.


between the ages of 21-65 years of age.

Permanent employee of State / Central Government, Public Sector Undertaking, Private

company or a reputed establishment or

Professionals or self-employed individual who is an income tax assesses or

Person engaged in agriculture and allied activities.

Annual Income Rs. 100,000/- and above.

Loan Amount: Maximum Loan amount will be 2.5 times of net annual income. Spouse’s

income could also be considered provided the spouse becomes a co-borrower in the loan.

Documents Required:

of Bank account of the borrower for last 6 months.

passport size photographs of borrower(s).

identification from bankers of borrower(s).

copy of passport /voters ID card/PAN card.

of residence.

salary-slip showing all deductions

. Returns/Form 16: 2 years for salaried employees and 3 years for professional/self-

employed/businessmen duly accepted by the ITO wherever applicable to be submitted.

of official address for non-salaried individuals.


(c) Car Loan Scheme for Used Car

SBI offers:

• No Advance EMI;

• Longest repayment tenure (7 years);

• Lower interest rates

• Lower EMI;

• LTV 85% of ‘On Road Price’ of car (includes registration, insurance and cost of

accessories worth Rs 25000),



• Low pre-payment penalty, only 2%;


• Free Accidental insurance;

• Optional SBI Life cover.


between the ages of 21-65 years of age.

Permanent employee of State / Central Government, Public Sector Undertaking, Private

company or a reputed establishment or

Professionals or self-employed individual who is an income tax assesses or

Person engaged in agriculture and allied activities.

Annual Income Rs. 100,000/- and above.


(2)-Wheeler Loan

SBI offers:

• No Advance EMI;

• Lower interest rates Lowest EMI;

• LTV 85% of ‘On Road Price’ of vehicle;




• Free Accidental insurance;

• Optional SBI Life cover.

Loan Amount:

• For salaried persons, the maximum loan amount is restricted to 6 time’s Net Monthly Income

(NMI), i.e. net of all deductions including actual monthly tax deductions at source.

• In case of others, the maximum loan amount is restricted to half of Net Annual Income (NAI),

i.e. income as per latest income tax return filed less taxes payable.

• For agriculturists, the net annual income should be arrived based on the nature of their activity

(i.e. farming, dairy poultry, orchards, etc.) land holding, cropping pattern, yield, etc., and average

level of income derived there from in the area.

Documents Required:

of Bank account of the borrower for last 12 months.

passport size photographs of borrower(s).

identification from bankers of borrower(s).


A copy of passport /voters ID card/PAN card.

of residence.

salary-slip showing all deductions and TDS certificate-Form 16 in case of salaried

persons.

of Income Tax Return for last two financial years, duly acknowledged by ITO for

professionals, self-employed and others.

of official address for non-salaried individuals.

Interest Rates for Car Loan:

Interest Rates w.e.f. 20.09.2012 (Base Rate 9.75 % p.a.)

SBI CAR LOAN SCHEME:

Tenure Rate of Interest

For all tenures

For Term Loan and Overdraft:

0.75% above Base Rate, i.e. 10.50%

p.a.

Two - Wheeler Loan:


Up to 3 years 8.25% above Base Rate i.e. 18.00%

p.a.

Used Vehicles:



p.a.

Above 3 yrs 7.50% above Base Rate i.e. 17.25%

p.a.


Certified Pre-owned Car Loan scheme:



p.a.

Above 3 yrs 6.50% above Base Rate i.e. 16.25%

(5) Students’ Education Loan A term loan granted to Indian Nationals for pursuing higher education in India or abroad where

admission has been secured.

Eligible Courses:

(a) Studies in India

Loans are mainly for Graduation, Post-graduation including regular technical and professional

Degree/Diploma courses conducted by colleges/universities approved by UGC/

AICTE/IMC/Govt. etc.

They also provide loans for regular Degree/ Diploma Courses conducted by autonomous

institutions like IIT, IIM etc.

Loans are also available for Teacher training/ nursing courses approved by Central

government or the State Government

Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by

Director General of Civil Aviation/Shipping

Also for Vocational Training and Skill Development Study Courses will not be covered under

the regular Education Loan Schemes. A separate scheme for ‘Loans for Vocational Education

and Training’ has been launched which covers financing for such Vocational courses


(b).Studies abroad:

Loans for job oriented professional/ technical Graduation Degree courses/ Post Graduation

Degree and Diploma courses like MCA, MBA, MS, etc. offered by reputed universities are also

provided by them.

Expenses considered for loan:

Fees payable to college/school/hostel

Examination/Library/Laboratory fees

Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers- essential for

completion of the course (maximum 20% of the total tuition fees payable for completion of the

course)

Caution Deposit/Building Fund/Refundable Deposit (maximum 10% of tuition fees for the entire

course)

Travel Expenses/Passage money for studies abroad

Cost of a Two-wheeler up to Rs. 50,000/-

Amount of Loan:

For studies in India, maximum Rs. 10 lacs

Studies abroad, maximum Rs. 30 lacs

Interest Rates for Educational Loans:

SBI Student Loan Scheme:

Loan Amount Rate of Interest*

For loans up to Rs.4 lacs 3.50% above Base Rate, currently 13.25%


p.a.

Above Rs.4 lacs and up to Rs.7.50 lacs 3.75% above Base Rate, currently 13.50%

p.a.

Above Rs.7.50 lacs 1.75% above Base Rate, currently 11.50%

p.a.

*(0.50% concession in interest for girl student is provided)

*(They also provide 1% concession for full tenure of the loan, if interest is serviced promptly as

and when applied during the moratorium period, including course duration. The interest should

be serviced promptly soon after application but not later than the following month to avail the

concession)

SBI Loan Scheme for Vocational Education and Training:

3.50% above Base Rate, currently 13.25% pa

(Here also 1% concession for full tenure of the loan, if interest is serviced promptly as and when

applied during the moratorium period, including course duration is providing by them.)

SBI Scholar Loan Scheme (w.e.f. 16.11.2012):

1.75% above Base Rate, currently 11.50% p.a

(0.50% concession in interest for girl student)

(1% concession for full tenure of the loan, if interest is serviced promptly as and when applied

during the moratorium period, including course duration)


Processing Fees:

There is no processing fee/ upfront charges They only want a deposit of Rs. 5000/- for education

loan for studies abroad which will be adjusted in the margin money

Repayment Tenure:

Now coming to the repayment, repayment will commence one year after completion of course

or 6 months after securing a job, whichever is earlier.

Place of Study Loan Amount Repayment Period

in Years

Studies in India Rs. 10.0 lacs 5-7

Studies Abroad Rs. 30.0 lacs 5-7

Security:

Amount For loans up to Rs. 10.00 lacs for Studies in India and up to Rs. 20.00 lacs for

studies abroad

Up to Rs. 4 lacs No Security

Above Rs. 4

lacs to Rs. 7.50

lacs

Collateral security in the form of suitable third party guarantee. The bank may,

at its discretion, in exceptional cases, waive third party guarantee if satisfied

with the net-worth/means of parent/s who would be executing the documents as

"joint borrower".

Above Rs. 7.50

lacs.

Tangible collateral security of suitable value, along with the assignment of

future income of the student for payment of installments.

All loans should be secured by parent(s)/guardian of the student borrower. In case of married

person, co-obligator can be spouse or the parent(s)/ parents-in-law


Margin:

For loans up to Rs.4.0 lacs: No Margin

For loans above Rs.4.0 lacs:

o Studies in India: 5%

o Studies Abroad: 15%

Documentation Required:

Completed Education Loan Application Form.

Mark sheets of last qualifying examination.

Proof of admission scholarship, studentship etc.

Schedule of expenses for the specified course.

2 passport size photographs.

PAN Card of the student and the Parent/ Guardian.

Borrower's Bank account statement for the last six months.

Income tax Returns/ IT assessment order, of last 2 yrs.

Brief statement of assets and liabilities, of the Co-borrower.

Proof of Income (i.e. Salary slips/ Form 16)

6. Loan against Mortgage of Property

SBI loans against property scheme allow customers to have cash in liquid form worth amount of

their property without selling their property. They can keep their property as a security with bank


and can easily avail liquid cash for them for their work like marriages or personal needs on

interest.

SBI Advantages on this loan:

· They provide a complete transparency in operations work of branches.

· They also charge interest rates which are levied on a monthly/daily reducing balance method.

· They also have the lowest processing charges.

· SBI provides long repayment period of 60 months, sometimes up to 120 months for salaried

individuals with check-off facility

· There are no hidden costs or administrative charges.

· No prepayment penalties. Customers can have surplus funds at any time thereby conveniently

reducing their loan liability and interest burden.

Property Loan Scheme:

They provide an All-Purpose loan against mortgage of any of customer property. They offer

customers these loans at all their Personal Banking Branches and the branches having Personal

Banking Divisions amongst others.

Purpose:

This is an all-purpose loan, i.e., the loan can be obtained for any purpose whatsoever. If amount

of loan is Rs.25.00 lacs and above then purpose of loan will have to be specified along with an

undertaking that loan will not be used for any speculative purpose whatever including

speculation on real estate and equity shares.


Eligibility:

Customers are eligible if they are:

A. An individual who is;

a. An Employee or

b. A Professional, self-employed or an income tax assesse or

c. Engaged in agricultural and allied activities.

B. Their Net Monthly Income (salaried) is in excess of Rs.12, 000/- or Net Annual Income

(others) is in excess of Rs.1, 50,000/-.

The income of the spouse may be added if he/she is a co-borrower or a guarantor.

C. Maximum age limit: 60 years.

Salient Features:-

Loan Amount:

Minimum: Rs.25, 000/-

Maximum: Rs.1 crore. The amount is decided by the following calculation:

24 times the net monthly income of salaried persons (Net of all deductions including TDS) or

2 times the net annual income of others (income as per latest IT return less taxes payable)

Margin:

They (Bank) will finance up to 60% of the market value of customers’ property.


Interest for Loan against Mortgage of Immovable Property:

Size of Credit Limit

(Term Loan)

Rate of Interest

Up to Rs. 1,00,00,000/- 5.25% above Base Rate Floating, currently

15.00% p.a.

Above Rs. 1,00,00,000/- 5.50% above Base Rate Floating, currently

15.25% p.a.

*No Overdraft against Mortgage of Property

Repayment:

Maximum of 60 equated monthly installments, up to 120 months for salaried individuals with

check-off facility. They could opt to divert any surplus funds towards prepayment of the loan

without attracting any penalty.

Processing Fees:

The bank charge 2% of the loan amount [inclusive of the service tax]. Max of Rs. 50,000/-

Security: As per banks extant instructions.


State Bank of India offers a wide range of services in

“Personal Banking” segment which are as follows:

eZ-

trade@sbi

Atm Services Internet

Banking

Foreign

Inward

Remittance

Locker Cards

1. eZ-trade@sbi

In case if customer wants an Online Trading Facility, he can have it with SBI Cap Securities

Limited. This service provides him with a 3-in-1 account which is an integrated platform of

Savings Bank A/c, Demat A/c and Online Trading A/c to give them a convenient and paper

free trading experience.

(a) Demat Services:

Overview:

(a) With effect from 01.04.2011, all the new demat accounts and Online Trading accounts will be

opened in the books of SBI Cap Securities Ltd.

(b) The existing demat accounts in the books of the Bank will continue to be maintained by the

Bank.

Features & Benefits of a Demat Account:

A Demat account with SBI provides customer the following benefits:


Customer Care: The customer can now call the banks dedicated Customer Care 24X7

and rest assured that all their queries are taken care of.

Transact Anywhere: Now the customers can operate their Demat account from any of

the 1000 plus Demat enabled branches of SBI.

Statements by e-mail: The customer can receive their account statement and bill by

email.

Demat Services’ Online Facility – This convenient and paper free facility lets the

customers operate from the comfort of their home or office through SBI’s Internet

Banking facility – “www.onlinesbi.com”

Online Demat Statements: Now the customer can now view their Demat account

details, statement of holdings, statement of transactions and statement of billing online.

Order Delivery Instruction Booklet online: No queues at branches anymore as the

customers can now order their Delivery Instructions Booklet online and the same would

be delivered at their doorsteps.

eZ - Instructions: The customer can transfer or pledge/unpledged securities online

anyplace, anytime.

Mobile Alerts: The customers can receive SMS alerts for all debits/credits as well as for

any request which cannot be processed.

Service Charges:

State Bank of India Revised Depository Service Charges for residents retail customers w.e.f

01/04/2008

Sr.

No.

CHARGE HEAD STANDARD CHARGES

1 A/c Opening Nil

2 Annual Maintenance Charges Rs. 400/- (Rs 350/- for customers receiving

statements by e-mail )

3 Agreement Stamp Paper Rs. 100/- (for Agreement between DP and

https://www.onlinesbi.com/


BO) or Rs. 200/- (if POA for eZ-instructions

is also signed)

4 Buy - Market and Off-Market Nil

5 Sell - Market and Off-Market (% of

transaction value of each ISIN)

For trade done on

www.sbicapsec.com

Nil

For instruction submitted through

Internet (eZ-instructions)

0.03% (Min. Rs. 10/-)


Branches

0.03% (Min. Rs. 30/-)

6 Rejection/fails Rs. 10 /-

7 Extra charges for processing of

instructions submitted on the execution

date late (accepted at Client's risk)


Internet (eZ-instructions)

Nil


Branches

Rs. 10/- per ISIN

8 Dematerialisation

For each request form Rs. 35/-

Extra for each certificate Rs. 2/-

9 Rematerialisation (For each request form) Rs. 25/-

10 Closure of Account Nil

11 Pledge Creation/Closure/Confirmation/

Invocation (% of value for each ISIN in

each request)

If SBI is the counter party 0.02% (Min. Rs. 15/-)

https://www.sbicapsec.com/


If SBI is not the counter party 0.04% (Min. Rs. 30/-)

12 Additional Account Statements

By Courier Rs. 30/-

By e-mail Nil

Recovery of demat service charges: Customers have to provide a debit authorization to SBI for

recovery of charges.

2. ATM Services

State Bank Networked ATM Services

State Bank offers their customers the convenience of over 26,000 ATMs in India, the largest

network in the country (and the Atm’s includes the ATMs of State Bank of India as well as the

Associate Banks - namely, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank

of Mysore, State Bank of Patiala, and State Bank of Travancore) and wholly owned subsidiary

viz. SBI Commercial and International Bank Ltd., using the State Bank ATM-cum-Debit (Cash

Plus) card.

Cards Accepted at State Bank of India: Besides all cards of State Bank of India, State Bank

ATM-Cum-Debit Card and State Bank International ATM-Cum-Debit Cards following cards are

also accepted at State Bank ATMs: -

1) State Bank Credit Card

2) Cards issued by other banks displaying Maestro, Master Card, Cirrus, VISA and VISA

Electron logos.

3) All Debit/ Credit Cards issued by any bank outside India displaying Maestro, Master Card,

Cirrus, VISA and VISA Electron logos.


(a) State Bank ATM-cum-Debit (State Bank Cash plus) Card:

With this card, there is no need to carry cash in wallet. The customer can withdraw cash and

make purchases anytime.

Features:

(1) The customers can withdraw cash from over 26,000 ATMs of SBI group for free and about

40000 ATMs of other banks under multi-lateral sharing viz. Andhra Bank, Axis Bank, Bank of

India, The Bank of Rajasthan Ltd. Canara Bank, Corporation Bank, Dena Bank, HDFC Bank,

ICICI Bank, Indian Bank, IndusInd Bank, Punjab National Bank, UCO Bank and Union Bank of

India apart from ATMs displaying Master Card/ Maestro/Cirrus logo for FREE up to first 5

transactions (Financial and Non-Financial) in a calendar month (for SB account holders).

(2) The customers can make payments for purchases by using the debit card at more than 4 lakh

shops, restaurants, shopping malls, hotels, petrol pumps and many other outlets which display

Maestro logo.

(3) The customers can also recharge their mobile Vodafone, IDEA, Reliance and BPL without

any charges at any State Bank ATM.

(4) The customers can pay MTNL, Mumbai bills through State Bank ATMs.

(5) Payment of Electricity Bills & BSNL telephone bills.

(6) Payment of SBI Credit Card bills.

(7) Now customers can also do registration of SBI Mobile Banking and SMS Alerts.

Transaction Limits:

Daily limit of Rs 40,000/- at the ATM

Daily limit of Rs 50,000/- at Point of Sale (POS) terminal for debit transactions

Combined daily limit of Rs 90,000/-


Fees:

There is no fee for State Bank ATM-cum-Debit (Cash Plus) card. But the customers have to pay

Annual maintenance fee of Rs. 100/- p.a.and this will be recovered from the second year of issue.

(b) State Bank Cash plus International Card:

With this cash plus International card the customers can enjoy shopping at over 4 lakh

establishments in India and over 10.5 Million establishments’ worldwide displaying Maestro

logo. They can also withdraw cash from over 26,000 ATMs of our group FREE of other

banks from ATMs displaying Master Card/ Maestro / Cirrus logo in India and more than

8,20,000 ATMs across the globe for a nominal fee.

Withdrawal Limit:

i) Cash Withdrawals (per day):

ii) Transaction at POS (per day):

India Abroad

Maximum Rs. 1,00,000 US$1000 or equivalent

India Abroad

Minimum Rs. 100 Depends on the Bank whose ATM is being used

Maximum Rs. 45000 US$1000 or equivalent


Transaction Costs: -Free

Fees:

The State Bank Cash plus International Card is available for one time joining fee of Rs 200/-.

Annual maintenance fee of Rs. 100/- p.a. will be recovered from the second year of issue.

(c) State Bank International ATM-Cum-Debit Card

Eligibility:

All Saving Bank and Current Account holders having accounts with networked branches and are:

18 years of age & above

Account type: Sole or Joint with "Either or Survivor" / "Anyone or Survivor"

NRE account holders are also eligible but NRO account holders are not.

Benefits:

Convenience to the customers traveling overseas

Can be used as Domestic ATM-cum-Debit Card

Available at a nominal joining fee of Rs. 200/-

Daily limit of US $ 1000 or equivalent at the ATM and US $ 1000 or equivalent at Point of Sale

(POS) terminal for debit transaction

Purchase Protection*up to Rs. 5000/- and Personal Accident cover*up to Rs. 2, 00,000/-

Charges for usage abroad: Rs. 150+ Service Tax per cash withdrawal Rs. 15 + Service Tax per

enquiry.


Acceptability:

Card can be used at:

More than 8, 20,000 ATMs and 7 million POS, worldwide, displaying Cirrus logo

All State Bank Group and tie-up banks' ATMs and ATMs & POS in India displaying Master

Card / Maestro / Cirrus logo.

Charges for using ATM CUM Debit Card:

Annual Maintenance charges for using ATM cum Debit Card by State Bank Cardholders.

Revised Service Charges w.e.f. 01.04.2011

Sr.

No.

Type of Card Existing Charges Revised Charges

1. State Bank Shopping and ATM

Card (Maestro Card)

Rs. 50/- Rs. 100/-

2. State Bank International Debit

Card (Maestro)

Rs. 100/- Rs. 100/-

3. State Bank Gold Card NIL Rs. 100/-

4. State Bank Platinum International

Debit Card

Rs. 300/-.

The same would be waived

for active customers who

do a minimum of 12 POS

transactions in the

preceding year.

Rs. 100/-

Charges for Replacement of Debit Cards w.e.f. 01.09.2011 are placed below:

Sr. No. Case description Charges to be recovered from the

customer

1. Replacement of Debit Card if

magnetic stripe/Chip of the card is not

working/card is damaged

NIL for first replacement

Rs. 100/- from second replacement

onwards


2. Replacement of Debit Card if card is

lost

Rs. 200/- per replacement

3. Maestro Debit Card holders are given

MasterCard as replacement card

NIL

4. Replacement of card if validity of

Debit Card has expired

NIL

3. INTERNET BANKING

www.onlinesbi.com, the Internet banking portal of the bank, enables its retail banking customers

to operate their accounts from anywhere anytime, removing the restrictions imposed by

geography and time.

Using Internet banking services, the customers can do the following normal banking

transactions online:

Funds transfer between own accounts.

Third party transfers to accounts maintained at any branch of SBI

Group Transfers to accounts in State Bank Group

Inter Bank Transfers to accounts with other Banks

Online standing instructions for periodical transfer for the above

Request for Issue of Demand Draft

Request for opening of new accounts

Request for closure of Loan Accounts

Request for Issue of Cheque Book



Apart from these, the other salient value-added features available are:

Utility bill payments

Online Ticket Booking for travel by Road, Rail and Air

SBILIFE, LIC and other insurance premium payments

SBI and other Mutual funds’ Investments

SBI and other Credit Card dues payments

Tax Payment – Income, Service, State Govt

Customs Duty Payment

Online Share Trading (eZ-trade@SBI)

Online Application for IPO

4. FOREIGN INWARD REMITTANCE:

Sending remittances to India for credit to customer account with bank or for their family is very

simple and convenient with SBI wide foreign offices network and correspondent banking

arrangement with about 600 banks worldwide. Wherever in the world they may be, there is bank

office or a bank having corresponding banking arrangement with SBI bank to provide facilities

of remittances.

The customer can use any of the following ways to send the remittances.

SBI Express Remit Facility

Demand Drafts in Rupees

Personal Cheques/ travelers Cheques (in person only)/ DDs in foreign currency


5. SAFE DEPOSIT LOCKER

For the safety of customer valuables the bank offers safe deposit locker facility at a large number

of their branches. There is a nominal annual rent, which depends on the size of the locker and the

Centre at which the branch is located.


1. Annual rental is payable in advance.

2. Rental depends on the size of the lockers and location of the branch via metro/urban or semi-

urban/rural.

3. One time registration charges for all centre is also levied.

4. KYC norms are applicable for locker hirers.

5. Lockers cannot be allotted to minors either singly or jointly with others.

6. Nomination facility is available. Bank is guided by the provisions of Sections 45 ZC to 45 ZF

of the Banking Regulation Act, 1949 and the Banking Companies (Nomination) Rules, 1985

and the relevant provisions of Indian Contract Act and Indian Succession Act.

7. In case of locker remains un-operated for more than one year, the branch has the right to

cancel the allotment of the locker and open the locker even if the rent is paid regularly.

6. Cards Offered by SBI

(1) Debit Cards:

(a) State Bank Classic Debit & Shopping Card

Customers can enjoy the convenience of cashless shopping with State Bank Classic Debit &

Shopping Card and earn Freedom Reward points on their purchases. With their State Bank

Classic Debit & Shopping Card they get access to their account whenever and wherever they

want. They can use it to purchase goods merchant establishments and withdraw cash in India.

Use of State Bank Classic Debit & Shopping Card:

For shopping at over 5 lakh merchant outlets in India.


For booking movie tickets, bill payments, travel and other online purchases and payments over

the internet using secure ‘Master Secure Code’/‘Verified by Visa’.

For withdrawing cash from State Bank Group ATMs or other ATMs in India.

Rewards Points: Freedom Reward State Bank Debit Card Loyalty Program

State Bank Classic Debit Card earns 2.5 Freedom Points (Reward points) for every Rs. 100

customers shop, dine out, fill fuel, book travel or spend online. These Freedom Points earned can

be accumulated and redeemed for exciting gifts.

Daily Cash Withdrawal & Transaction Limit:-

State Bank Classic Debit & Shopping Card Domestic

Daily Cash Limit at ATMs Minimum Rs. 500/-

Maximum Rs. 40,000/-

Daily Point of Sales/e-Commerce

Limit

Minimum No such limit


SMS Alert for Better Tracking:-

Customers get instant SMS alerts for all Cash withdrawal/Purchase transactions/Online

transactions made on their State Bank Classic Debit & Shopping Card.

Issuance and Annual Maintenance Charges:-

Particulars Charges

Issuance Charges Nil


Annual Maintenance

Charges

Rs. 100.00 per annum from the second year of

issue.

Card Replacement

Charges

Rs. 200

* (The above charges are inclusive of Service Tax and are subject to revision)

(b) State Bank Silver International Debit & Shopping Card

Customer can enjoy the convenience of cashless shopping with State Bank Silver International

Debit Card and earn FreedomRewardz points on their purchases. With their State Bank Silver

international Debit Card they get access to their account whenever and wherever they want. They

can use it to purchase goods merchant establishments and withdraw cash in India as well as

across the globe.

Use of State Bank Silver International Debit & Shopping Card:

For shopping at over 5 lakh merchant outlets in India, and over 30 million worldwide.



For withdrawing cash from State Bank Group ATMs or other ATMs in India and worldwide

(ATMs with MasterCard/Maestro/Visa logo).

Rewards Points: Freedom Reward State Bank Debit Card Loyalty Program

State Bank Silver International Debit Card earns 2.5 Freedom Points (Reward points) for every

Rs. 100 customer shop, dine out, fill fuel, book travel or spend online. These Freedom Points

earned can be accumulated and redeemed for exciting gifts.

Daily Cash Withdrawal & Transaction Limit:


State Bank Silver International

Debit & Shopping Card

Domestic International

Daily Cash

Limit at

ATMs

Minimum Rs. 500/- Varies from

ATM to ATM

Maximum Rs.

40,000/-

Varies from

country to

country,

subject to a

maximum of

USD 1,000 or

equivalent

thereof

Daily Point

of Sales/

Online

Transaction

Limit

Minimum No such

limit

No such limit

but subject to

local

regulations

Maximum Rs.

75,000/-

Varies from

country to

country,

subject to a

maximum of

USD 1,500 or

equivalent

thereof

SMS tracking facility is also provided as same as classic debit card.

Issuance and Annual Maintenance Charges:-

Particulars Charges



Annual Maintenance Charges Rs. 100.00 per annum from the second year of

issue.

* (The above charges are inclusive of Service Tax and are subject to revision)

(c) State Bank Gold International Debit Card

Customers can enjoy the convenience of cashless shopping with State Bank Gold International

Debit Card and earn higher FreedomRewardz points on their purchases. With their State Bank

Gold international Debit Card they get access to their account whenever and wherever they want.

They can use it to purchase goods merchant establishments and withdraw cash in India as well as

across the globe.

Use of SBI Gold International Debit

For shopping at over 5 Lakh merchant outlets in India, and over 30 million worldwide.



For withdrawing cash from State Bank Group ATMs or other ATMs in India and worldwide

(ATMs with MasterCard/Maestro/Visa logo)

Rewards Points: FreedomRewardz State Bank Debit Card Loyalty Program

SBI Gold International Debit Card earns 4 Freedom Points (Reward points) for every Rs. 100

customers shop, dine out, fill fuel, book travel or spend online! These Freedom Points earned can

be accumulated and redeemed for exciting gifts.

Daily Cash Withdrawal & Transaction Limit


SBI Gold International

Debit Card

Domestic International

Daily Cash Limit at

ATMs

Minimum Rs. 500/- Varies from ATM to

ATM


Varies from country to

country, subject to a

maximum of USD

1,000 or equivalent

thereof.

Daily Point of

Sales/ Online

Transaction Limit

Minimum No such limit

No such limit but

subject to local

regulations.

Maximum Rs. 2,00,000/-

Varies from country to


maximum of USD

4,000 or equivalent

thereof.

Complimentary Insurance

The SBI Gold International Debit Cardholder are provided with free insurance (accidental death

only) of Rs. 2 Lakh. The card also carries a purchase protection for theft / damage upto 90 days

from the date of purchase up to Rs. 5000/- in respect of transactions carried out at the Points of

Sale / Merchant Establishments.

SMS Alert for Better Tracking

Customers get instant SMS alerts all Cash withdrawal/Purchase transactions/Online transactions

made on State Bank Gold International Debit Card.


Issuance and Annual Maintenance Charges

Particulars Charges


Annual Maintenance Charges Rs. 100.00 per annum from the second year of issue.

(d) SBI Yuva International Debit Card

SBI Yuva Card is an International Debit Card on VISA platform, exclusively designed for

vibrant youth of India between 18-30 years of age. Customers can enjoy the convenience of

cashless shopping with SBI Yuva International Debit Card and earn FreedomRewardz points on

their purchases. With their SBI Yuva International Debit Card they get access to their account

whenever and wherever they want. They can use it to purchase goods merchant establishments

and withdraw cash in India as well as across the globe.

Eligibility criteria of SBI Yuva International Debit Card:-

All Saving Bank and Current Account holders having account at CBS branches, in the age group

of 18-30 years and holding account either in their sole name or jointly with their parents/ spouse

with mode of operation " Either or Survivor"/ Anyone or Survivor will be eligible to apply for

this card.

Use of SBI Yuva International Debit Card:-

For shopping at over 5 lacs merchant outlets in India, and over 30 million worldwide.


the internet using secure ‘Verified by Visa’.

For withdrawing cash from State Bank Group ATMs or other ATMs in India and worldwide.


Rewards Points: FreedomRewardz State Bank Debit Card Loyalty Program:

SBI Yuva International Debit Card earns 2.5 Freedom Points (Reward points) for every Rs. 100

they shop, dine out, fill fuel, book travel or spend online. These Freedom Points earned can be

accumulated and redeemed for exciting gifts.

Daily Cash Withdrawal & Transaction Limit:

SBI Yuva International Debit Card Domestic International

Daily Cash Limit at

ATMs

Minimum Rs. 100/- Varies from ATM to

ATM

Maximum Rs. 40,000/- Varies from country to


maximum of USD

1,000 or equivalent

thereof

Daily Point of Sales/

Online Transaction

Limit

Minimum No such limit No such limit but

subject to local

regulations

Maximum Rs. 2,00,000/- Varies from country to


maximum of USD

1,500 or equivalent

thereof


Complimentary Insurance:

SBI Yuva International Debit Card Cardholder are provided with free insurance (accidental death

only) of Rs. 2 Lac. The card also carries a purchase protection for theft / damage upto 90 days

from the date of purchase up to Rs. 5,000/- in respect of transactions carried out at the Points of

Sale / Merchant Establishments.

SMS Alert for Better Tracking:

Customer get instant SMS alerts all cash withdrawal/purchase transactions/online transactions

made on SBI Yuva International Debit Card.

Issuance and Annual Maintenance Charges:

Particulars Charges


Annual Maintenance Charges Nil

(2) Business Debit Card

(a) State Bank Pride

Transaction Limits:-

State Bank Pride Domestic (in

Rs)

International

(USD or Equivalent)

Daily Cash Limit

at ATMs Maximum 1,00,000

Varies from country to country,

subject to a maximum of the

foreign currency equivalent of

the Domestic limit.


Daily PoS/e-

Commerce Limit Maximum 2,00,000

Varies from country to country,



the Domestic limit.

Daily Cash

Deposit limit Maximum 49,900 Not applicable

Complimentary Insurance:-

The card holder will have free insurance (accidental death only) up to Rs. 2 lakh.

Purchase Protection:-

This card carries a purchase protection for theft / damage up to 90 days from the date of purchase

up to Rs. 5,000/- in respect of transactions carried out at the Points of Sale / Merchant

Establishments.

Reward Points:-

This card earns 4 FreedomRewardz points for Rs. 100/- spend over Point of Sale/e-Commerce

SMS Alert for Better Tracking:-

The customer gets instant SMS alerts for all Cash withdrawal/Purchase transactions/Online

transactions made by them on State Bank Pride.

Charges:-

Particulars Charges

Issuance Charges NIL

Annual Maintenance Charges Rs. 200/-* per annum from the second year of


issue.

These charges will be waived if State Bank

Pride is used for spends on Point of Sale/e-

Commerce amounting to Rs. 5, 00,000/-# or more

during the year for which the Annual Maintenance

Charges are charged.

Card Replacement Charges Rs. 200/-

* The above charges are inclusive of Service Tax and are subject to change.

(b) State Bank Premium

Transaction Limits:-

State Bank Premiums Domestic

(in Rs)

International

(USD or Equivalent)

Daily Cash Limit

at ATMs

Maximum 2,00,000 Varies from country to country,



the Domestic limit.

Daily PoS/

e-Commerce

Limit

Maximum 5,00,000 Varies from country to country,



the Domestic limit.

Daily Cash

Deposit limit

Maximum 49,900 Not applicable


Complimentary Insurance:-

The card holder will have free insurance (accidental death only) up to Rs.5 lakh

Purchase Protection:-

This card carries a purchase protection for theft / damage up to 90 days from the date of purchase

up to Rs. 50,000/- in respect of transactions carried out at the Points of Sale / Merchant

Establishments.

Reward Points: - This card earns 5 FreedomRewardz points for Rs. 100/- spend over Point of

Sale/e-Commerce

SMS Alert for Better Tracking:- The customer gets instant SMS alerts for all Cash

withdrawal/Purchase transactions/Online transactions made by them on State Bank Premium.

Charges:-

Particulars Charges

Issuance Charges NIL

Annual Maintenance

Charges

· Rs. 200/-* per annum from the second year of issue.

· These charges will be waived if State Bank Pride is used

for spends on Point of Sale/e-Commerce amounting to

Rs. 10, 00,000/-# or more during the year for which the

Annual Maintenance Charges are charged.

Card Replacement Charges Rs. 200/-


(3) Prepaid Card

(a) State Bank Gift Card

State Bank Gift Card is a Pre-paid Plastic Card supported by Magnetic-strip based technology. It

is usable at all VISA enabled Merchant Establishments at Point of Sale by signature and over

Internet for e-Commerce transactions by using secure ‘Verified by Visa’.

Features:-

Currency of Issue Indian Rupee only

Availability

All State Bank of India Branches and also available

online through SBI Internet Banking website

www.onlinesbi.com for all SBI customers availing

Internet Banking facility.

Re-load State Bank Gift Card is not re-loadable

Minimum Amount of Issue Rs. 500 and thereafter in multiples of Re. 1/-

Maximum Amount of Issue Rs. 50,000/-

Usage

State Bank Gift Cards can only be used at VISA

enabled Merchant Establishments at Point of sale

and over Internet for e-Commerce transactions by

using secure “Verified by Visa”. Facility of cash

withdrawal is not available on this Card.

Balance enquiry

Cardholder can view the balance in the State Bank

Gift Card and also obtain a transaction receipt

indicating the balance from any State Bank Group

ATM in India free of cost and also online at

https://prepaid.onlinesbi.com

Validity of Card The validity of the card is for 1 year from the date

of issue.

Daily Transaction Limit No Limit; up to the available balance in the Card.

Personalized Cards The Card can also be personalized, upon request by

the Corporates for Bulk Issue.


https://prepaid.onlinesbi.com/


(b) State Bank eZ Pay Card

The State Bank eZ-Pay Card, a prepaid plastic Card issued in Indian Rupees in association with

VISA International, is an ideal product for making periodical payments. It is suitable for:

Disbursement of wages to blue collar workers,

Bonus to employees/ reimbursement of expenses to staff,

Periodical payment of incentives to agents/ commission to distributors.

Customer need not be SBI account holder for purchasing State Bank eZ-Pay Card. Any person,

in individual capacity also, can obtain eZ-Pay Card.

Features:

Currency of Issue Indian Rupee only

Availability All State Bank of India Branches

Re-load State Bank eZ-Pay Card is reloadable

Minimum Amount of

Issue

Rs. 500 and thereafter in multiples of Re. 1/-, however the

balance in the Card should not exceed Rs. 50,000/- at any

point of time.

Maximum Amount of

Issue

Rs. 50,000/-

Usage

State Bank eZ-Pay Card is usable at all State Bank ATMs

through PIN, at VISA enabled Merchant Establishments at

Point of Sale and over Internet for e-Commerce

transactions by using secure “Verified by Visa”.

Balance enquiry

Cardholder can view the balance in the State Bank eZ-Pay

Card and also obtain a transaction receipt indicating the

balance from any State Bank Group ATM in India free of

cost and also online at https://prepaid.onlinesbi.com

Validity of Card The validity of the card is for 10 year from the date of

issue.

https://prepaid.onlinesbi.com/


Daily Transaction Limit Ø Cash withdrawal limit from State Bank ATMs:

Rs.100/- – Rs.40,000/- per day.

Ø PoS Transaction limit: Rs. 50,000 per day.

Personalized Cards The Card can also be personalized, upon request by the

Corporates for Bulk Issue.

Eligibility

Individuals

Can be issued to individuals after taking full KYC

documents. These individual Cards can be loaded/

reloaded by debit to third party accounts of

Corporates/customers.

Corporates

Corporate Cards (cards both personalized & non-

personalized, which can be issued in bulk to corporate

clients for onward issuance to their employees at their end)

can be issued to employees/beneficiaries of listed company

only. Corporates have to submit KYC documents of

beneficiaries before loading/activating the Cards for use.

(c) State Bank Foreign Travel Card

State Bank Foreign Travel Card is a prepaid Foreign Currency card that makes customer foreign

trip trouble-free and convenient. It is a Chip based Card which stores encrypted and confidential

information.

The Card:-

Issued in association with VISA International.

Accepted at 1.80 Million VISA ATMs and at over 28 Million Merchant Establishments (MEs)

approximately, all over the world except in India, Nepal and Bhutan.

Available at over 1,100+ Branches.


Available for retail (students, tourists, pilgrims, medical needs, etc) and corporate customers

(Companies, Government Departments, Public Sector Undertakings, etc.)

Eligibility:-

Any bonafide citizen of India who plans to travel abroad except Nepal and Bhutan.

Parents / sponsors of the students going abroad for higher studies, in the student’s name and can

be subsequently reloaded up to the statutory ceiling, prescribed from time to time.

Foreign Nationals residing in India, subject to completion of KYC norms.

Features:-

Minimum amount of load/Re-load: USD 200 / GBP 120 / Euros 150 / CAD 200 / AUD 200 /

YEN 15,800 / SAR 750 / SGD 250.

Maximum amount of issue: As prescribed by RBI/FEMA 1999 depending on the purpose of

overseas visit. Presently, equivalent to USD 100,000 per annum for Education/

Employment/Medical; USD 25,000 per Business Trip and USD 10,000 per annum for

tourism/pilgrimage.

Competitive exchange rates.

Free balance enquiry at State Bank Group ATMs and VISA ATMs (at a charge).

Balance information after each transaction through SMS (service presently available only on

Indian SIM Cards).

A 24 x 7 call Centre to provide information and hot-listing (block) the card in case of loss /

misplacement.

Now the card can be used for online e-commerce payments, while overseas e.g. payment of

college fee, booking of air-tickets, online purchase of books etc.

Documents:-


Copy of first and last pages of Passport.

PAN or Form 60 in lieu thereof, if the amount tendered is Rs. 50,000/- or more.

Proof of residence in case the address is different from that appearing on passport.

(4) State Bank Virtual Card

State Bank Virtual card, also known as Electronic Card or e-Card, is a limit Debit Card created

for ecommerce transactions. It provides an easy and secure way of transacting online without

providing the Primary Card/ Account information to the merchant.

Security:-

It reduces the risk of exposing the underlying Credit/Debit limit as the Primary Card / Account

details are not communicated to the Merchant.

Card is valid up to a maximum of 48 hours or till the transaction is complete, whichever is

earlier.

Card creation and online transaction are authorised only after successful validation of One Time

Password (OTP) sent to customer Mobile during the process.

Easy to Use:-

No separate setup/ installation or registration is required, any customer having internet banking

facility with transaction rights can create Virtual Card.

Zero Loss:-

No loss of interest as the Card is generated by marking a lien on the underlying account and the

amount is debited only when actual transaction using the Virtual Card is completed, successfully.


Detailed Product Features:-

Description Feature

Eligibility All INB customers with Transaction Rights can avail this

facility.

Card Type Visa (May be extended to MasterCard Platform)

Currency of Issue Indian Rupee only.

Minimum amount of Issue Rs. 100/-

Maximum amount of Issue Rs. 50,000/-

Frequency of usage

(Single / Multi)

Single-transaction Card

Card Acceptability At any merchant outlet that has facility for Online

purchase.

Domestic / International Domestic use only.

(Valid for payment in INR in India, Nepal & Bhutan)

Card Validity As soon as the transaction is completed.

Or If the card is cancelled.

Or Card is not used for 48 hours after creation.

(Whichever is earlier)

No of cards per customer per

day

No limit

Issuance / Maintenance Fee NIL

Refund / Cancellation. Once card is cancelled or expired, the lien marked shall

be lifted and the unspent / unutilised amount will

automatically be available to the customer for use.


Retail Products and Services of State Bank of India

To Non Resident Indian (NRI)

Opening of an Account for an NRI:-

To open an NRE account he/she has to fill an application form and mail it to the branch of their

choice along with;

Passport copy

Visa/residence permit

2 photographs

Initial money remittance

Their signature may be verified by anyone of the following:-

Indian Embassy/consulate

Any person known to the Bank

Notary public

Any of banks’ offices abroad

They can open:-

NRE Saving Bank a/c / Current Accounts


Fixed Deposits in Indian Rupees

Fixed Deposits in Foreign Currency

NRO accounts (Rupee accounts for crediting income in India)

NRIs can authorize a resident to operate their account through a Power of Attorney or

Letter of authority.

Nomination Facility available (Nominee can be a resident Indian also)

NRI Deposit Schemes

(A) Nonresident external (NRE) account:

Overview of NRE Accounts:-

Account Type: Savings Bank / Current Account / Term Deposit / Special Term Deposit /

Recurring Deposit.

Credits will be the form of:-

Remittances from abroad.

Transfer from other NRE / FCNR accounts.

Foreign exchange brought to India.

Account can be opened jointly with other NRIs.

Bank deposits are free from wealth tax in India.

Interest earned on NRE accounts is exempt from Indian income tax.


NRE Savings Bank A/C

Only for non-resident Indians (NRIs).

Can be a joint account with another NRI (In case the joint account holder is their spouse, she / he

should also be an NRI).

Minimum balance Rs.1000/- (Rs. 5000/- in case of Personal Banking Branches)

Permissible Credits:-

Remittances from abroad through banking channel.

Personal cheque drawn on foreign account(s).

Proceeds of Foreign Currency Notes / Travelers cheque tendered by NRI, while visiting India.

Drafts issued by bank / exchange companies abroad.

Transfer from another NRE account.

Interest / dividend / maturity proceeds of investments made in India on repairable basis.

Note: Amounts in excess of $ 5000 (or equivalent) in currency or $ 10,000/- (or equivalent) in

Travelers cheque should be accompanied by a Currency Declaration Form.

Multi-City Cheque (MCC) facility for NRI’s

A Multi-City Cheque (MCC) is one that can be written by the customer in favor of his client and

is payable at par at all branches in India of the Bank. MCC can be issued in cheque operated

accounts (SB and Current), in addition to normal cheque books. The MCC facility is to be used

only for genuine transactions / bonafide remittances. No cash payments will be made to third

parties at other branches.


The upper limit for issue of MCCs is Rs.5 lacs. The issue charges for MCC are Rs. 3 per cheque

leaf and will be debited from the account at the time of issue of the cheque book. There are no

transaction charges.

NRE Term Deposits

Rupee deposits of fixed tenure.

Minimum period of 1 year.

Maximum period of 10 years.

Interest paid quarterly on Term Deposit Receipts (TDRs).

Principal & interest amount are fully repairable.

Premature withdrawals permitted (conditional):-

On pre-mature withdrawal of the Deposit (after completion of 1 year), interest will be calculated

at applicable rate for the period the Deposit has actually remained with the Bank less applicable

penalty as under:-

NRE term deposits opened Penalty

Before 01st January, 2012 1%

From 01st January, 2012 0.50%*

* The interest paid shall be 0.50% below the rate applicable for the period deposit has remained

with the Bank or 0.50% below the contracted rate, whichever is lower.

No interest is payable if the deposit is withdrawn before one year.


Recurring Deposits:

Through SBIs’ Recurring Deposit Scheme, NRIs can save a little every month so that at the time

of need they have sufficient funds to achieve their financial goals. So, NRIs can set aside a small

amount every month and earn at compounded rates of interest.

Flexibility in period of deposit with maturity ranging from 12 months to 120 months

Attractive interest rates.

Interest income is tax free in India

they can avail a loan/overdraft against their deposit

Premature withdrawal allowed

Minimum monthly installment of Rs.1000/-

Special Term Deposits

Deposit their money for a period of 1 year and up to 10 years.

Get a two-fold income, with interest both on customer deposit and on the interest accrued

on it.

Invest in an affordable/very low Minimum Deposit Amount of Rs. 1000/- only.

Enjoy higher returns with compounded interest every quarter.

You can open a Special Term Deposit at any branch of SBI.

NRI can access their accounts 24X7 from anywhere in the world, with our Internet

Banking facility.

Avail nomination facility for their deposits.

Tax Implications:-

As per the current regulations, interest income is exempt from income tax in India.

Automatic Renewals:-


NRI have no need to track maturity of their deposits.

Automatic renewal on maturity, if there are no instructions for renewal.

They can earn interest for same period as that of their matured deposit, at the interest rate

prevailing on the date of maturity.

Flexibility:-

They can convert their term Deposit to a Special Term Deposit, and enjoy compounded

rate of interest to multiply customer money faster.

They can also convert their Special Term Deposit to a Term Deposit to receive monthly /

quarterly interest payments to handle their financial requirements.

Foreign Currency Non Resident (Bank) Account

Overview of FCNR (B) Accounts:

SEK.

1 year and a maximum of 5 years.

1000 or equivalent.

on principal and interest.

withdrawal is subject to a penal interest of 1%.


o By the depositor(s)

o By third parties

an be availed at select SBI branches abroad against the security of

FCNR (B) deposits.

Resident Foreign Currency Account

Overview of RFC Accounts:

3 years.

Rupees only.


nts in case the person becomes an NRI

again.

Permissible Credits:

Balances in NRE/FCNR accounts on arrival in India.

Fixed deposits can be closed prematurely without penalty or held till maturity and then

credited to RFC account.

travelers cheque brought to India.

Interest Rates for Resident Foreign Currency Account

RESIDENT FOREIGN CURRENCY A/C. (RFC) (%P.A.)

w.e.f 01/01/2013

PERIOD USD GBP EURO

1 year and above but less than 2 years 2.84 3.01 2.44

2 years and above but less than 3 years 2.41 2.72 2.39

3 years only 3.49 3.78 3.48

NOTE : - Minimum Amount USD 1000 or equivalent for RFC deposits

All these interest rates are subject to change, without notice .

The revised interest rates are applicable only

on fresh deposits and renewal of maturing deposits.


GLOSSARY

Overdraft facility- An overdraft occurs when money is withdrawn from a bank account and

the available balance goes below zero. In this situation the account is said to be "overdrawn". If

there is a prior agreement with the account provider for an overdraft, and the amount overdrawn

is within the authorized overdraft limit, then interest is normally charged at the agreed rate. If the

negative balance exceeds the agreed terms, then additional fees may be charged and higher

interest rates may apply.

Nomination Facility- Nomination can be made by the account holder or, as the case may be,

by all the joint account holders together, in respect of an account held by them with a bank in

India. The nomination can be made only in respect of a deposit held in the individual capacity as

a holder of an office or otherwise. The nomination has to be made in favor of only one

individual. The nominee may be a minor but in that case the account holder should, while

making the nomination, appoint another individual (who is not a minor) to receive the amount of

deposit on behalf of the nominee during his minority, in case of need.

Kiosk Banking- SBI Kiosk Banking is a facility provided by State Bank Of India wherein

customers need not go to the SBI branch to make different transactions. The branch itself comes

to the customer's village/place where the customer can make the transactions.

Multicity cheques- "Multi City Cheque" or MCC is a facility wherein the customer can issue

cheque drawn at the base branch and payable at any branch at remote center. These cheque will

be treated as local cheque at the remote branch.

http://en.wikipedia.org/wiki/Bank

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Outward foreign remittance- The sending country, where the wage earner is located. The

sender uses a bank or foreign exchange company to send money to foreign country.

Inward foreign remittance -The receiving country, where the beneficiary resides. The

bank receives the money that has been sent from the sending person in the country in which the

money has been earned.

Inter Core charges- Charges that bank charges for inter transaction between two branches is

called inter core charges.

Survivorship benefits - Retirement income benefit of a survivor (or survivors) of an insured

individual, according to a particular formula.

For example, if a retired male worker dies, all or a portion of his monthly pension (perhaps one

half or two-thirds) may continue to go to his wife if he has elected the joint and survivor option.

Auto-sweep facility –Balance in excess of stipulated amount from savings account is

automatically transferred to fixed deposit account for certain period is called as Auto-Sweep

facility or swipe-in.

Premature withdrawal- Withdrawal of the deposit before the maturity date is clled

premature withdrawal.

http://www.answers.com/topic/joint-and-survivor-option


LTV Ratio- A lending risk assessment ratio that financial institutions and others lenders

examine before approving a mortgage. Typically, assessments with high LTV ratios are

generally seen as higher risk and, therefore, if the mortgage is accepted, the loan will generally

cost the borrower more to borrow or he or she will need to purchase mortgage insurance.

Moratorium period- Moratorium is defined as a legally authorized period of delay in the

performance of a legal obligation or the payment of a debt ... (a) waiting period set by some

authority: a delay officially required or granted ... a suspension of activity: a temporary ban on

the use or production of something...."

Collateral Security- A form of secondary protection sometimes required by a bank and

intended to guarantee a borrower's performance on a debt obligation.

Contact:

The bank now provides customer Account Balance and Transaction details over phone round-

the-clock. Information on deposits & loan schemes and services also available. Call 1800112211

(toll-free from BSNL/MTNL) or 18004253800 (BSNL toll-free no.)

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