State Bank of India or SBI Deposit Schemes are those arrangements made by SBI to invest in their Multi Option Deposit Scheme, it is a term deposit which is not rigid and has an exclusive feature to break-up your account which accommodates full liquidity as well as higher rates of returns through your saving account or current account.
Subcategories that comes under Deposit Schemes :
- Saving Bank Account
- Saving Plus Account
- Yuva Saving Bank Account
- Basic Savings Bank Account
- Small Account
- Saving Bank Accounts for Minors
- Current Account
- Term Deposit
- SBI Capgains Plus (Capital Gain Scheme 1988)
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Saving Bank Account :
Enjoy the utility of banking from anyplace and time with the help of online facility of SBI Saving Bank Account which facilitates you to access your account 24×7.
Note some of the Features of SBI Saving Bank Account :
| General | · Minimum Balance not required.
· Availability of Safe Deposit Lockers. · Availability of Nomination Facility |
| Interest Rates | 4% per annum |
| Auto-Sweep Facility | You can link your Multi Option Deposit (MOD) account to earn higher term deposit interest on surplus money. |
| Salary Account | Special SBI Salary Accounts are provided for employees of Corporates, Schools, Colleges, Universities, Government Employees, Railways, Police and Defense Personnel. |
| Children Accounts | Special Saving Accounts for children like ‘Pehla Kadam’ and ‘Pehli Udaan’. |
| ATM-CUM-Debit Card | SBI Bank Debit card comes with multiple variants according to your needs and eligibility criteria. |
| Mobile Banking | Enjoy easy, simple, secure, anyplace, anytime balance enquiries, transfer etc with State Bank Freedom. |
| Internet Banking | With the help of SBI online portal www.onlinesbi.com you can get access through the internet to your account anywhere at anytime. |
| Personal Accident and Health Insurance | If you hold a Saving Bank Account in any of the branches of SBI you shall get the advantage Personal Health and Accident Insurance at a discounted rates from SBI general Insurance Ltd. |
| Contact Details | SBI helpline no. (24×7) : 1800 11 2211(toll-free), 1800 425 3800(toll-free) or 080-26599990. |
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SBI Saving Plus Account
– The State Bank of India Saving Plus Account is a Saving Bank Account associated with MODS.
– The surplus fund that is over a particular limit from the Saving Bank Account, it is directly transferred to Term Deposits opened in multiples of Rs 1000.
– The benefit to choose the tenure period from between 1 year to 5 years fully depends on the account holder.
– Nomination facilities are available in saving Plus Account.
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SBI Yuva Saving Bank Account
– With SBI Yuva Saving bank Account young Adults get the opportunity to experience an independent, restriction free banking experience.
– The eligibility criteria for an individual is that he/she must be 18 years of age and up to 30 years of age at the time of entry.
– Features
- ATM cum Debit Card Facility
- Mobile Banking
- Internet Banking
- Cheque Book etc.
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SBI Basic Savings Bank Account
– This account could be opened by any individual who shall be above 18 years of age and must possess Know Your Customer(KYC) documents.
– The minimum balance amount is Nil.
– The rates of Interest is 4% p.a.
– Only a minimum of 4 withdrawals is attached with this Saving Account after that if you withdraw cash through ATM or Cheque a service tax shall be applicable on each withdrawal.
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Small Account
– Anyone above 18 years of age can open this account.
– Valid KYC documents are not required.
– This account can be changed into a Regular Saving Account only on the submission of the KYC documents.
– The minimum balance is Nil.
– The maximum balance is Rs 50,000.
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