POWER JYOTI CURRENT ACCOUNT - FEE PAYMENT COLLECTION

Facility Offered: Collection of funds from all branches of SBI to Power Jyoti Current Account with MIS.
Users: Educational Institutions/other bodies for fee/fund collection. Collection of donation as well.
USP: A remitter can send fund under the scheme without having an account with SBI.
Scope: Transactions permitted in cash transfer and clearing.
Quarterly Average Balance: Rs. 50,000/-
MIS: Complete details of collection available through periodic statement/corporate internet banking.
Corporate Internet Banking: Free
Cash handling charges: Nil
Remittance charges: Per transaction nominal charges
FOR FURTHER INFORMATION PLEASE CONTACT THE NEAREST SBI BRANCH
POWER JYOTI CURRENT ACCOUNT - PRE UPLOADED
Facility Offered: Collection of funds through pre-upload of tailor made MIS data which will only be validated at collecting branches.
USP: Error in data inputting at various collecting branches resulting in reconciliation issues are completely ruled out.
Users: Institutions/other entities for fee/fund collection, collection of donation bodies for fee/fund collection. Collection of donation as well.
MIS: Customized MIS available.
Scope: Transactions permitted in cash transfer and clearing.
Quarterly Average Balance: Rs. 50,000/-
Corporate Internet Banking: Free
Service charges: Rs. 60/- per transaction
Cash handling charges: Nil
FOR FURTHER INFORMATION PLEASE CONTACT THE NEAREST SBI BRANCH

SAHAJ CURRENT ACCOUNT

SME Sahaj is a Current Account to provide basic banking facility to the low profile business community with a Quarterly Average Balance (QAB) of Rs.1,000
Eligibility: Individual/proprietorship firms/partnership firms
Quarterly Average Balance (QAB): Rs 1000/-
Penalty for non-maintenance: Rs 300/quarter
Immediate credit of outstanding cheque: amount Rs 15000/- per cheque
Cash Remittance per day: Max amount Rs 10,000 per day
ATM Debit Card: Maximum withdrawal limit Rs 15,000/- per day
Standing Instruction for loan payment: Free
Corporate Internet Banking: Free
FOR FURTHER INFORMATION PLEASE CONTACT THE NEAREST SBI BRANCH

NORMAL CURRENT ACCOUNT

Requirement 1.Minimum Balance - Rs 10,000
2.Penalty for not maintaining minimum balance -Rs 500 per quarter
Cash Deposit 1ST 10 packets free. Beyond this, Rs 100 per 10 packets or part there of. Maximum Rs 10,000
Corporate Internet Banking Free
Statement of Account Monthly centralized
FOR FURTHER INFORMATION PLEASE CONTACT THE NEAREST SBI BRANCH

UNFIXED DEPOSIT CURRENT ACCOUNT

'Unfixed Deposit' is a fixed deposit of Rs 15 Lakhs and above for 7 days to less than one year period.
For deposit of Rs. 1 Cr and above, Interest Rate @ 6.50% for 7 to 60 days and Interest Rate @ 7% for 60 days to less than 1 yr.

For deposit above Rs 15 lacs to less than Rs 1 Cr :
Interest Rate for 7 days to 179 days is 7.50%
Interest Rate for 180 days to 210 days is 7.00%
Interest Rate for 211 days to less than 1 Year is 7.50%
It can be withdrawn without any premature payment penalty, after 7 days from the date of deposit.
Ideal for short-term liquidity of Individuals, Companies, Institutions, Firms, Trusts, Association, Societies etc.
FOR FURTHER INFORMATION PLEASE CONTACT THE NEAREST SBI BRANCH

RECURRING DEPOSIT

Key features-
 Monthly deposits of Minimum  Rs.100/- no maximum.

 Minimum period 12 months maximum 120 months.

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

 Loan / Overdraft up to 90% available against the balance in RD account.

 TDS is not applicable.

Most Important Terms & Conditions

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 instalments:
a.     For a/c of period 5 years and less --Rs. 1.50 per Rs. 100/- per month
b.    For a/c of period above 5 years- Rs. 2.00 per Rs. 100/- per month
7.     No Cheque Book / ATM Card will be issued
8.     Passbooks are issued
9.     Nomination facility available

TERM DEPOSITS

FEATURES
·         Period of deposit from 7 days to 10 years.
·         Deposit Amount: Minimum: Rs.1000/-, Maximum: No limit
·         Payment of interest at Monthly/Quarterly/Calendar quarter basis as per your requirement.
·         Payment of interest on monthly interval will be at discounted rate.
·         Interest   will   be   paid   at   the   contracted   rate irrespective of change in the rate thereafter.
·         Senior Citizens get 0.25% extra interest rate
·         Loans / OD upto 90% of the Principal deposit
·         Premature payment:
          o    The penalty for premature withdrawal of deposits below Rs 15 lacs for all tenors will be 0.50% p.a. provided these have remained with the Bank for at least 7 days.
          o    However, for single deposit of Rs 15 lacs and above, there shall be no penalty for premature withdrawal for tenors below 1 year provided these have remained with the bank for at least 7 days.
          o    In all other cases above one year, in case 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 with the bank for less than 7 days period.
·         Auto renewal is exercised if maturity instructions are not given
·         Flexibility to convert TDR to STDR and vice versa
·         Nomination facility available and recommended
·         TDS at prevalent rate is deducted at source if Form 15G/15H not submitted.
·         TDS  will  be  deducted  when  interest  paid  or accrued  or  reinvested  per  customer,  per  branch, exceeds Rs. 10,000 in a financial year.
·         The TDR can be linked to any Savings Bank or Current Account from where you can withdraw periodical interest. TDS payments, if any, can be made to the Government as and when it is due from linked account.

Most Important Terms & Conditions

1.     Interest will be paid at the contracted rate irrespective of change in the rate thereafter.
2.     Period of deposit 07 days to 10 years.
3.     Loan / overdraft up to 90% of the deposit amount at 0.50% above the TDR rate.
4.     The penalty for premature withdrawal of deposits below Rs 15 lacs for all tenors will be 0.50% p.a. provided these have remained with the Bank for at least 7 days. However, for single deposit of Rs 15 lacs and above, there shall be no penalty for premature withdrawal for tenors below 1 year provided these have remained with the bank for at least 7 days.
In all other cases above one year, in case 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 with the bank for less than 7 days period.
5.     Interest can be paid on monthly intervals on discounted rate.
6.     Interest can also be paid at Calendar quarter basis.
7.     TDS at prevalent Income tax rate is deducted if Form 15G/15H not submitted.
8.     Auto renewal is exercised if maturity instructions are not given.