Q. What are the important documents that I need to provide?
A. You will need to furnish the following documents along with the completed application form. Relevant information would relate to the guardian and the student both, when the loan is jointly taken.
* Mark sheet of last qualifying examination for school and graduate studies in India
* Proof of admission to the course
* Schedule of expenses for the course
* Copies of letter confirming scholarship, etc.
* Copies of foreign exchange permit, if applicable.
* 2 passport size photographs
* Statement of Bank account for the last six months of borrower
* Income tax assessment order not more than 2 years old
* Brief statement of assets and liabilities of borrower.If you are not an existing bank customer you would also need to establish your identity and give proof of residence.
Q. Are there any charges or processing fee?
A. There is no additional charge or processing fee.
Q. Since there is a moratorium period, how will my repayments be determined?
A. The outstanding interest for the moratorium period will be added to the loan amount at the time of commencement of the repayment. The EMI will be determined on this amount at the time the repayment is to commence.
Q. What is EMI? How is it calculated?
A. EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components. Your EMI would be calculated depending on the tenor you choose, to repay your loan. The EMI would be higher if you choose to repay within a shorter period as against a longer-term loan. A shorter repayment period, however, reduces your interest cost over the term of the loan.
Q. What is the repayment schedule like?
A. The repayment would begin one year after the course period or six months after you get a job, whichever is earlier. You are expected to pay a minimum amount equivalent to the EMI on a monthly basis. However, you can choose to pay more than the EMI, and we do not charge any prepayment penalty.
Q. Where can I avail of a SBI educational loan?
A. The loan is available from all branches in metro/urban areas as well as those having personal banking divisions.
Tuesday, September 30, 2008
FAQ - CAR LOAN
Q. What makes of cars does SBI finance?
A. SBI finance all makes of new cars, and secondhand cars not more than five years old. Thus, you are free to choose any vehicle you want to own.
Q. Can my spouse's income be included for calculating the loan amount?
A. Yes, your spouse's income can be included provided he/she guarantees the loan.
Q. Do I have the option of choosing a fixed or floating rate for the loan?
A. You have the option to avail the loan with either a fixed interest rate or a floating interest rate. In the case of a fixed rate loan, the interest rate on the loan will remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could decline or rise in line with the changes in the State Bank Advance Rate (SBAR). Fixed Rate option is available only for Car Loans upto Rs. 5 lac.
Q. What is the repayment schedule like?
A. The minimum amount that you are expected to pay every month is the EMI.You can repay the loan in upto 84 EMIs.
Q. What is EMI? How is it calculated?
A. EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Your EMI would be calculated depending on the tenor you choose, to repay your loan. The EMI would be higher if you choose to repay within a shorter period as against a longer-term loan.
Q. What Security do I have to furnish for availing the Car Loan?
A. A charge on the vehicle financed is noted with local Transport Authorities . Your spouse's guarantee, if his/her income has been considered for fixing the loan amount, would also be required. Some other security may also be required in certain cases.
Q. How does SBI Car Loan compare with those offered by other institutions?
A. There is total transparency with regards to the rate of interest and the fees charged by SBI.
SBI offer loans for the longest tenors (84 months) with the flexibility to reduce the tenor by prepaying the loan without attracting any penalty.
SBI levys interest based on daily/monthly reducing balance, unlike the flat rate of interest or interest based on annual reducing balance method used by several other financiers
SBI provides finance for one-time road tax, registration fee and insurance premium also. SBI provide free Personal Accident Insurance upto the outstanding amount, so that in case of accidental death, your near and dear ones are not required to repay the loan.
SBI do not charge any advance EMIs
Q. How do I benefit if the interest is calculated on a daily reducing balance?
A. In a flat rate of interest (which is what many other players charge), the interest is calculated for the full tenor of the loan on the amount advanced. In effect you continue to pay interest on the amount you have already repaid. Similarly, on an annual reducing balance method, you will continue to pay interest on amounts you repay during the coming one year.
In the case of the daily/monthly reducing balance, which is the methodology SBI employs, your interest is calculated only on the outstanding loan amount, which reduces every time you pay off your EMIs or make any prepayments. This in essence lowers your effective rate of interest significantly.
A. SBI finance all makes of new cars, and secondhand cars not more than five years old. Thus, you are free to choose any vehicle you want to own.
Q. Can my spouse's income be included for calculating the loan amount?
A. Yes, your spouse's income can be included provided he/she guarantees the loan.
Q. Do I have the option of choosing a fixed or floating rate for the loan?
A. You have the option to avail the loan with either a fixed interest rate or a floating interest rate. In the case of a fixed rate loan, the interest rate on the loan will remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could decline or rise in line with the changes in the State Bank Advance Rate (SBAR). Fixed Rate option is available only for Car Loans upto Rs. 5 lac.
Q. What is the repayment schedule like?
A. The minimum amount that you are expected to pay every month is the EMI.You can repay the loan in upto 84 EMIs.
Q. What is EMI? How is it calculated?
A. EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Your EMI would be calculated depending on the tenor you choose, to repay your loan. The EMI would be higher if you choose to repay within a shorter period as against a longer-term loan.
Q. What Security do I have to furnish for availing the Car Loan?
A. A charge on the vehicle financed is noted with local Transport Authorities . Your spouse's guarantee, if his/her income has been considered for fixing the loan amount, would also be required. Some other security may also be required in certain cases.
Q. How does SBI Car Loan compare with those offered by other institutions?
A. There is total transparency with regards to the rate of interest and the fees charged by SBI.
SBI offer loans for the longest tenors (84 months) with the flexibility to reduce the tenor by prepaying the loan without attracting any penalty.
SBI levys interest based on daily/monthly reducing balance, unlike the flat rate of interest or interest based on annual reducing balance method used by several other financiers
SBI provides finance for one-time road tax, registration fee and insurance premium also. SBI provide free Personal Accident Insurance upto the outstanding amount, so that in case of accidental death, your near and dear ones are not required to repay the loan.
SBI do not charge any advance EMIs
Q. How do I benefit if the interest is calculated on a daily reducing balance?
A. In a flat rate of interest (which is what many other players charge), the interest is calculated for the full tenor of the loan on the amount advanced. In effect you continue to pay interest on the amount you have already repaid. Similarly, on an annual reducing balance method, you will continue to pay interest on amounts you repay during the coming one year.
In the case of the daily/monthly reducing balance, which is the methodology SBI employs, your interest is calculated only on the outstanding loan amount, which reduces every time you pay off your EMIs or make any prepayments. This in essence lowers your effective rate of interest significantly.
FAQ - SHORT TERM HOUSING LOAN
Q. Can I get an in-principle approval and actually avail of the loan later?
A. What SBI do is, before you choose the house you want to buy, SBI gives you an in-principle approval based on your income and capacity to repay. This makes the entire process of identifying and buying a house easier and more flexible. You won't be under pressure to identify a house before you know how much funds the bank would make available to you.
Q. And how long is this approval valid?
A. This in-principle approval is valid for 3 months to give you sufficient time to choose a flat/house of your choice.
Q. How long does it take to get my loan sanctioned?
A. Your loan can get sanctioned in a matter of days provided you have all the documents in place.
Q. Can I apply jointly with my spouse? Will both our salaries be taken into consideration for calculating the loan amount?
A. Yes, your salaries can be clubbed for the purpose of calculation of the loan amount. This can be done either when the property is jointly held with the spouse or the spouse stands as a guarantor. Thus, SBI ensures a great deal of flexibility in the entire exercise of financing your house.
Q. What security do I have to furnish?
A. SBI requires a mortgage of the property for which the loan is being taken. Where mortgage can't be provided, other tangible security would need to be provided.
The title of the property should be clear, for which a certificate would be required from the Bank's approved advocate, safeguarding your interests as well as Bank's interests. Additional security may be required where the house is under construction. This may be for an interim period, by way of tangible security or guarantees from sound and solvent individuals.
Q. What are the processing fees charged by the bank?
A. A very nominal processing fee of 0.25% is charged by SBI. Compare this with 1.5-2% charged by the others.
Q. What is EMI?
A. EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Use EMI calculator to find out your monthly payments based on the loan amount, the rate of interest and the repayment period. Choose the combination that best meets your financial resources and requirements.
Q. Can I prepay the loan? Are there any penalties?
A. Yes, you can prepay the loan at any stage and without attracting any penalty. You can also credit more than your EMI amount into your loan account and bring down your interest burden as and when funds are available with you. Many financial institutions do not allow you to pay more than the EMI or to prepay the loan, and charge a penalty ranging from 1-2%. In case of takeover of loans by other banks, however, a prepayment penalty of 2% may be levied.
Q. Where can I avail SBI Housing loans?
A. SBI have a network that is unmatched in terms of reach. SBI have also designated special branches across the country to cater to the housing loan requirements of individual customers.
Q. If I have funds, is it still worthwhile to avail of a bank loan for buying a house?
A. It is generally advantageous to take a Housing loan as it would enable you to get tax exemptions. However, please consult your CA/ income tax advisor to know benefits/disadvantages in your specific case.
Q. What are the tax benefits of taking an SBI Housing Loan?
A. Under the Indian Income Tax Act of 1961, resident Indians are eligible for certain tax benefits on principal and interest components of a loan. Under Section 24(1), interest repayment of Rs.1,50,000 per annum qualifies for tax saving under the new Finance Act, provided the property is acquired or constructed with capital borrowed after April 1, 1999 and the acquisition/construction is completed before April 1, 2003 , and the property is self occupied.An added benefit under Section 88 on repayment of principal amount to the extent of Rs 20,000 is also available on the same loan.
Q. How does SBI housing loan compare with those offered by other institutions?
A. There is total transparency with regard to the rate of interest and the fees charged by SBI. SBI offer housing loans with the lowest equated monthly installments, i.e. you pay substantially less in repayments as compared to others. SBI have no upper limit. The loan amount is determined by repaying capacity and the value of property to be financed. SBI offer loans for the longest tenors (up to 20 years) with the flexibility provided to reduce the tenor by prepaying the loan without any penalty. SBI provide finance for both new and old houses/flats and for construction of houses. Cost of furnishing the house can also be included in the project cost.
With an SBI housing loan you can choose between fixed rates of interest and floating interest rates. SBI levy interest based on daily/monthly reducing balance, unlike the annual reducing balance method used by several other financiers/banks.
Q. How do I benefit if the interest is calculated on a daily/monthly reducing balance?
A. On an annual reducing balance method, you will continue to pay interest on amounts you repay during the coming one year as the interest for the year is determined on the basis of the balance outstanding at the beginning of the year. In the case of the daily reducing balance, which is the methodology SBI employs, your interest is calculated only on the outstanding loan amount, which reduces every time you pay off your EMIs or make any prepayments. This in essence lowers your effective rate of interest significantly.
A. What SBI do is, before you choose the house you want to buy, SBI gives you an in-principle approval based on your income and capacity to repay. This makes the entire process of identifying and buying a house easier and more flexible. You won't be under pressure to identify a house before you know how much funds the bank would make available to you.
Q. And how long is this approval valid?
A. This in-principle approval is valid for 3 months to give you sufficient time to choose a flat/house of your choice.
Q. How long does it take to get my loan sanctioned?
A. Your loan can get sanctioned in a matter of days provided you have all the documents in place.
Q. Can I apply jointly with my spouse? Will both our salaries be taken into consideration for calculating the loan amount?
A. Yes, your salaries can be clubbed for the purpose of calculation of the loan amount. This can be done either when the property is jointly held with the spouse or the spouse stands as a guarantor. Thus, SBI ensures a great deal of flexibility in the entire exercise of financing your house.
Q. What security do I have to furnish?
A. SBI requires a mortgage of the property for which the loan is being taken. Where mortgage can't be provided, other tangible security would need to be provided.
The title of the property should be clear, for which a certificate would be required from the Bank's approved advocate, safeguarding your interests as well as Bank's interests. Additional security may be required where the house is under construction. This may be for an interim period, by way of tangible security or guarantees from sound and solvent individuals.
Q. What are the processing fees charged by the bank?
A. A very nominal processing fee of 0.25% is charged by SBI. Compare this with 1.5-2% charged by the others.
Q. What is EMI?
A. EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Use EMI calculator to find out your monthly payments based on the loan amount, the rate of interest and the repayment period. Choose the combination that best meets your financial resources and requirements.
Q. Can I prepay the loan? Are there any penalties?
A. Yes, you can prepay the loan at any stage and without attracting any penalty. You can also credit more than your EMI amount into your loan account and bring down your interest burden as and when funds are available with you. Many financial institutions do not allow you to pay more than the EMI or to prepay the loan, and charge a penalty ranging from 1-2%. In case of takeover of loans by other banks, however, a prepayment penalty of 2% may be levied.
Q. Where can I avail SBI Housing loans?
A. SBI have a network that is unmatched in terms of reach. SBI have also designated special branches across the country to cater to the housing loan requirements of individual customers.
Q. If I have funds, is it still worthwhile to avail of a bank loan for buying a house?
A. It is generally advantageous to take a Housing loan as it would enable you to get tax exemptions. However, please consult your CA/ income tax advisor to know benefits/disadvantages in your specific case.
Q. What are the tax benefits of taking an SBI Housing Loan?
A. Under the Indian Income Tax Act of 1961, resident Indians are eligible for certain tax benefits on principal and interest components of a loan. Under Section 24(1), interest repayment of Rs.1,50,000 per annum qualifies for tax saving under the new Finance Act, provided the property is acquired or constructed with capital borrowed after April 1, 1999 and the acquisition/construction is completed before April 1, 2003 , and the property is self occupied.An added benefit under Section 88 on repayment of principal amount to the extent of Rs 20,000 is also available on the same loan.
Q. How does SBI housing loan compare with those offered by other institutions?
A. There is total transparency with regard to the rate of interest and the fees charged by SBI. SBI offer housing loans with the lowest equated monthly installments, i.e. you pay substantially less in repayments as compared to others. SBI have no upper limit. The loan amount is determined by repaying capacity and the value of property to be financed. SBI offer loans for the longest tenors (up to 20 years) with the flexibility provided to reduce the tenor by prepaying the loan without any penalty. SBI provide finance for both new and old houses/flats and for construction of houses. Cost of furnishing the house can also be included in the project cost.
With an SBI housing loan you can choose between fixed rates of interest and floating interest rates. SBI levy interest based on daily/monthly reducing balance, unlike the annual reducing balance method used by several other financiers/banks.
Q. How do I benefit if the interest is calculated on a daily/monthly reducing balance?
A. On an annual reducing balance method, you will continue to pay interest on amounts you repay during the coming one year as the interest for the year is determined on the basis of the balance outstanding at the beginning of the year. In the case of the daily reducing balance, which is the methodology SBI employs, your interest is calculated only on the outstanding loan amount, which reduces every time you pay off your EMIs or make any prepayments. This in essence lowers your effective rate of interest significantly.
FAQ - CORPORATE SALARY PACKAGE
1. What is Corporate Salary Package( CSP) ?
This is a bundle of facilities offered to employees of Corporates, SMEs, Educational Institutions, Govt.,(State/Central)establishments /organizations, service organizations such as hospitals, hotels, transport corporations etc.,
2 The facilities offered
· Employees can open Zero Balance accounts
· Free ATM cum Debit Cards
· Can avail Core Banking Facility across all branches
· Free multi city cheques
· Easy overdraft facility
· Internet banking facility
· Utility bill payments through internet
· Remittance facilities through RTGS/NEFT
· Statement through e-mail
· SMS alert
· Reduced interest rates on loans etc
3. Eligibility
· Minimum Salary Rs.5000
· Minimum Number of employees 25
· Employer will have a tie-up with SBI
4. Type of account/Variants ·
Four variants depending upon the GROSS SALARY OF EACH EMPLOYEE. (SILVER,GOLD,DIAMOND,PLATINUM)
· Silver - Gross Salary (GS) Rs.5000-Rs.20000
· Gold- GSRs.20001/--Rs.50000/-
· Diamond – GS Rs.50001/- to Rs.100000/-
· Platinum – GS more than Rs.1 lac.
· Different facilities are offered for different categories
5. Minimum Balance · NIL
6. Cheque Books · 25 Leaves free in a year
7. Multi City Cheques (AT par cheques)
· Issued without charges
· Maximum amount per cheque Rs.2 Lakhs
8. Internet Banking
· Free internet banking which permits utility bill payments/fund transfer etc
9. Restrictions in Transaction at the Branch · NIL
10. ATM cum Debit Card
· For silver variantdomestic ATMcum Debit Card issued
· For GOLD/DIAMOND and PLATINUM accounts international ATMcum Debit Card issued
11. Maximum Withdrawal at ATMs
· Rs.40,000/- for domestic cards
· Rs.50,000/- for International Cards
12. Free Insurance · Free cover on accidental death for ATM GOLD international Card holders
13. Transactions atATMs other than that of SBI Group · For ATM Gold Card holders Free at 12 other bank ATMs, Chargeable for domestic card holders.
14. Internet Banking/Statement on Email/SMS alerts/RTGS/NEFT
Available
15. Reimbursement Current account · Available
16. AUTO SWEEP · Free auto sweep facility to transfer amount to Fixed deposits
17. SMS alert/Statement in Email · Available
18. Pass book · Available
This is a bundle of facilities offered to employees of Corporates, SMEs, Educational Institutions, Govt.,(State/Central)establishments /organizations, service organizations such as hospitals, hotels, transport corporations etc.,
2 The facilities offered
· Employees can open Zero Balance accounts
· Free ATM cum Debit Cards
· Can avail Core Banking Facility across all branches
· Free multi city cheques
· Easy overdraft facility
· Internet banking facility
· Utility bill payments through internet
· Remittance facilities through RTGS/NEFT
· Statement through e-mail
· SMS alert
· Reduced interest rates on loans etc
3. Eligibility
· Minimum Salary Rs.5000
· Minimum Number of employees 25
· Employer will have a tie-up with SBI
4. Type of account/Variants ·
Four variants depending upon the GROSS SALARY OF EACH EMPLOYEE. (SILVER,GOLD,DIAMOND,PLATINUM)
· Silver - Gross Salary (GS) Rs.5000-Rs.20000
· Gold- GSRs.20001/--Rs.50000/-
· Diamond – GS Rs.50001/- to Rs.100000/-
· Platinum – GS more than Rs.1 lac.
· Different facilities are offered for different categories
5. Minimum Balance · NIL
6. Cheque Books · 25 Leaves free in a year
7. Multi City Cheques (AT par cheques)
· Issued without charges
· Maximum amount per cheque Rs.2 Lakhs
8. Internet Banking
· Free internet banking which permits utility bill payments/fund transfer etc
9. Restrictions in Transaction at the Branch · NIL
10. ATM cum Debit Card
· For silver variantdomestic ATMcum Debit Card issued
· For GOLD/DIAMOND and PLATINUM accounts international ATMcum Debit Card issued
11. Maximum Withdrawal at ATMs
· Rs.40,000/- for domestic cards
· Rs.50,000/- for International Cards
12. Free Insurance · Free cover on accidental death for ATM GOLD international Card holders
13. Transactions atATMs other than that of SBI Group · For ATM Gold Card holders Free at 12 other bank ATMs, Chargeable for domestic card holders.
14. Internet Banking/Statement on Email/SMS alerts/RTGS/NEFT
Available
15. Reimbursement Current account · Available
16. AUTO SWEEP · Free auto sweep facility to transfer amount to Fixed deposits
17. SMS alert/Statement in Email · Available
18. Pass book · Available
FAQ - RTGS/NEFT
1. What is Inter Bank Transfer?
Inter Bank Transfer is a special service that allows you to transfer funds electronically to accounts in other banks in India through:NEFT - The acronym “NEFT” stands for National Electronic Funds Transfer. Funds are transferred to the credit account with the other participating Bank using RBI's NEFT service. RBI acts as the service provider and transfers the credit to the other bank's account. RTGS –The acronym “RTGS” stands for Real Time Gross Settlement. The RTGS system facilitates transfer of funds from accounts in one bank to another on a “real time” and on “gross settlement” basis. The RTGS system is the fastest possible inter bank money transfer facility available through secure banking channels in India.
2. What is the minimum / maximum amount for RTGS /NEFT transactions?
Type Minimum Maximum
RTGS Rs. 1 Lakh No Limit
NEFT No Limit No Limit
3. When does the beneficiary get the credit for a RTGS payment?
Under normal circumstances the beneficiary bank’s branch receives the funds in real time as soon as funds are transferred by the remitting bank.
4. When does the beneficiary get the credit for a NEFT payment?
The funds will be sent to the RBI within three hours of the transaction. The actual time taken to credit the beneficiary depends on the time taken by the beneficiary bank to process the payment.
5. If an RTGS transaction is not credited to a beneficiary account, does the Remitter get back the money?
Yes. If it is unable to credit the amount of the remittance to the account of the beneficiary for any reason, the beneficiary’s bank has to return the money to the remitting bank within 2 hours. Once this amount is received back by the remitting bank, the amount is credited to the Remitter's account by the remitting bank branch.
6. If an NEFT transaction is not credited to a beneficiary account, does the Remitter get back the money?
Yes. If the money cannot be credited for any reason, the beneficiary’s bank has to return the money to the remitting bank . Once this amount is received back by the remitting bank, the amount is credited to the Remitter's account by the remitting bank branch.
7. At what time during the day /week is the RTGS & NEFT service is available?
Presently, NEFT is settled in six batches at 09:30 A.M., 10:30 A.M., 12:00 P.M., 1:00 P.M., 3:00 P.M. and 4:00 P.M. hours on weekdays and 09:30 A.M., 10:30 A.M. and 12:00 P.M. hours on Saturdays in RBI. OnlineSBI sends the transaction requests upto 3:30 P.M. on weekdays and upto 11:30 A.M. on Saturdays.RTGS transaction requests will be sent to RBI upto 3:30 PM. on weekdays and upto 11:30 AM on Saturdays.
8. What is the mandatory information required to make an RTGS & NEFT payment?
The Remitter has to provide the following details:
Amount to be remitted
Account number which is to be debited
Name of the beneficiary bank
Name of the beneficiary
Account number of the beneficiary
Remarks or description, if any
The IFSC code of the beneficiary branch
9. How to find the IFSC code of the beneficiary branch?
Based on simple search option - Location, Bank & Branch. The IFSC code will automatically be updated or if you know the IFSC code of the beneficiary bank, you can provide it directly.
10. Do all bank branches in India provide RTGS & NEFT service?
No. RTGS facility is enabled only in specific bank branches across India. You can view a list of these branches in the RBI website. NEFT is enabled only in specific bank branches across India. You can view a list of these branches in the RBI website.
Inter Bank Transfer is a special service that allows you to transfer funds electronically to accounts in other banks in India through:NEFT - The acronym “NEFT” stands for National Electronic Funds Transfer. Funds are transferred to the credit account with the other participating Bank using RBI's NEFT service. RBI acts as the service provider and transfers the credit to the other bank's account. RTGS –The acronym “RTGS” stands for Real Time Gross Settlement. The RTGS system facilitates transfer of funds from accounts in one bank to another on a “real time” and on “gross settlement” basis. The RTGS system is the fastest possible inter bank money transfer facility available through secure banking channels in India.
2. What is the minimum / maximum amount for RTGS /NEFT transactions?
Type Minimum Maximum
RTGS Rs. 1 Lakh No Limit
NEFT No Limit No Limit
3. When does the beneficiary get the credit for a RTGS payment?
Under normal circumstances the beneficiary bank’s branch receives the funds in real time as soon as funds are transferred by the remitting bank.
4. When does the beneficiary get the credit for a NEFT payment?
The funds will be sent to the RBI within three hours of the transaction. The actual time taken to credit the beneficiary depends on the time taken by the beneficiary bank to process the payment.
5. If an RTGS transaction is not credited to a beneficiary account, does the Remitter get back the money?
Yes. If it is unable to credit the amount of the remittance to the account of the beneficiary for any reason, the beneficiary’s bank has to return the money to the remitting bank within 2 hours. Once this amount is received back by the remitting bank, the amount is credited to the Remitter's account by the remitting bank branch.
6. If an NEFT transaction is not credited to a beneficiary account, does the Remitter get back the money?
Yes. If the money cannot be credited for any reason, the beneficiary’s bank has to return the money to the remitting bank . Once this amount is received back by the remitting bank, the amount is credited to the Remitter's account by the remitting bank branch.
7. At what time during the day /week is the RTGS & NEFT service is available?
Presently, NEFT is settled in six batches at 09:30 A.M., 10:30 A.M., 12:00 P.M., 1:00 P.M., 3:00 P.M. and 4:00 P.M. hours on weekdays and 09:30 A.M., 10:30 A.M. and 12:00 P.M. hours on Saturdays in RBI. OnlineSBI sends the transaction requests upto 3:30 P.M. on weekdays and upto 11:30 A.M. on Saturdays.RTGS transaction requests will be sent to RBI upto 3:30 PM. on weekdays and upto 11:30 AM on Saturdays.
8. What is the mandatory information required to make an RTGS & NEFT payment?
The Remitter has to provide the following details:
Amount to be remitted
Account number which is to be debited
Name of the beneficiary bank
Name of the beneficiary
Account number of the beneficiary
Remarks or description, if any
The IFSC code of the beneficiary branch
9. How to find the IFSC code of the beneficiary branch?
Based on simple search option - Location, Bank & Branch. The IFSC code will automatically be updated or if you know the IFSC code of the beneficiary bank, you can provide it directly.
10. Do all bank branches in India provide RTGS & NEFT service?
No. RTGS facility is enabled only in specific bank branches across India. You can view a list of these branches in the RBI website. NEFT is enabled only in specific bank branches across India. You can view a list of these branches in the RBI website.
FAQ - HOUSING LOAN
Q. Can I get an in-principle approval and actually avail of the loan later?
A. What SBI do is, before you choose the house you want to buy, SBI gives you an in-principle approval based on your income and capacity to repay. This makes the entire process of identifying and buying a house easier and more flexible. You won't be under pressure to identify a house as you know how much funds the bank would make available to you.
Q. And how long is this approval valid?
A. This in-principle approval is valid for 3 months to give you sufficient time to choose a flat/house of your choice.
Q. How long does it take to get my loan sanctioned?
A. Your loan can get sanctioned in a matter of days provided you have all the documents in place.
Q. Can I apply jointly with my spouse? Will both our salaries be taken into consideration for calculating the loan amount?
A. Yes, your salaries can be clubbed for the purpose of calculation of the loan amount. This can be done either when the property is jointly held with the spouse or the spouse stands as a guarantor. Thus, SBI ensure a great deal of flexibility in the entire exercise of financing your house.
Q. What security do I have to furnish?
A. SBI requires a mortgage of the property for which the loan is being taken. Where mortgage can't be provided, other tangible security would need to be provided. The title of the property should be clear, for which a certificate would be required from the Bank's approved advocate, safeguarding your interests as well as Bank's interests. Additional security may be required where the house is under construction. This may be for an interim period, by way of tangible security or guarantees from sound and solvent individuals.
Q. What are the processing fees charged by the bank?
A. A very nominal processing fee of 0.50% (Max. Rs.10,000/-) is charged by SBI. Compare this with 1.5-2% charged by the others.
Q. What is EMI?
A. EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Use SBI's EMI calculator to find out your monthly payments based on the loan amount, the rate of interest and the repayment period. Choose the combination that best meets your financial resources and requirements.
Q. Can I prepay the loan? Are there any penalties?
A. Yes, you can prepay the loan at any stage. However closure of loan before completion of half of the loan tenure will attract a penalty of 2%. You can also credit more than your EMI amount into your loan account and bring down your interest burden as and when funds are available with you.
Q. Where can I avail SBI Housing loans?
A. SBI have a network that is unmatched in terms of reach. SBI have also designated special branches across the country to cater to the housing loan requirements of individual customers.
Q. If I have funds, is it still worthwhile to avail of a bank loan for buying a house?
A. It is generally advantageous to take a Housing loan as it would enable you to get tax exemptions. However, please consult your CA/ income tax advisor to know benefits/disadvantages in your specific case.
Q. What are the tax benefits of taking an SBI Housing Loan?
A. Under the Indian Income Tax Act of 1961, resident Indians are eligible for certain tax benefits on principal and interest components of a loan. Under Section 24(1), interest repayment of Rs.1,50,000/- per annum qualifies for tax saving under the new Finance Act, provided the property is acquired or constructed with capital borrowed after April 1, 1999 and the acquisition/construction is completed before April 1, 2003 , and the property is self occupied. An added benefit under Section 80(c) on repayment of principal amount to the extent of Rs.1,00,000/- is also available on the same loan subject to compliance with conditions stipulated in the IT Act.
Q. How does SBI housing loan compare with those offered by other institutions?
A. There is total transparency with regard to the rate of interest and the fees charged by SBI.
SBI offers housing loans with the lowest equated monthly installments, i.e. you pay substantially less in repayments as compared to others. SBI have no upper limit. The loan amount is determined by repaying capacity and the value of property to be financed. SBI offers loan for the longest tenors (up to 20 years) with the flexibility provided to reduce the tenor by prepaying the loan without any penalty. SBI provide finance for both new and old houses/flats and for construction of houses. Cost of furnishing the house can also be included in the project cost. With an SBI housing loan you can choose between fixed rates of interest and floating interest rates. SBI levys interest based on daily reducing balance, unlike the annual reducing balance method used by several other financiers/banks.
Q. How do I benefit if the interest is calculated on a daily reducing balance?
A. On an annual reducing balance method, you will continue to pay interest on amounts you repay during the coming one year as the interest for the year is determined on the basis of the balance outstanding at the beginning of the year. In the case of the daily reducing balance, which is the methodology SBI employs, your interest is calculated only on the outstanding loan amount, which reduces every time you pay off your EMIs or make any prepayments. This in essence lowers your effective rate of interest significantly.
Monday, September 29, 2008
STATE BANK ATM CARD, CASH PLUS
State Bank's ATM-cum-Debit Card - named as State Bank Cash plus - offers great services for Personal Banking customers, Cash plus also provides online access to savings or current account and has a tie-up with Master Card International (Maestro Card). Cash plus can be used:
· At Merchant Establishments numbering over 2,64,000 in India displaying Maestro logo;
· At all networked State Bank ATMs numbering over 9000;
· At about 16000 ATMs of banks under bilateral sharing arrangement viz. Andhra Bank Bank, Axis Bank,Bank of India, The Bank of Rajasthan Ltd. Canara Bank, Corporation Bank, Dena Bank, HDFC Bank, Indian Bank, IndusInd Bank, Punjab National Bank, UCO Bank and Union Bank of India.
· At ATMs of other banks across the country displaying Master Card, Maestro and Cirrus logos.
· PIN based secure card
· Presently no transaction fee at State Bank ATMs. Annual maintenance fee of Rs. 50/- p.a. will be recovered from the second year of issue.
· Transaction fee at other bank ATMs is as under: -
· Cash Withdrawal and Balance enquiry at State Bank GroupATMs is free
· Transaction denied at other bank ATMs other than those under bilateral sharing network arrangement, due to inadequate balance is chargeable (charges are same as for balance inquiry as mentioned above)
· Transaction Limits:
ØATMs- Rs.25,000/-(per day)
ØMerchant Establishments- Rs.50,000/-(per day)
· No expiry date. Card bears only a "Valid from date"
· At Merchant Establishments numbering over 2,64,000 in India displaying Maestro logo;
· At all networked State Bank ATMs numbering over 9000;
· At about 16000 ATMs of banks under bilateral sharing arrangement viz. Andhra Bank Bank, Axis Bank,Bank of India, The Bank of Rajasthan Ltd. Canara Bank, Corporation Bank, Dena Bank, HDFC Bank, Indian Bank, IndusInd Bank, Punjab National Bank, UCO Bank and Union Bank of India.
· At ATMs of other banks across the country displaying Master Card, Maestro and Cirrus logos.
· PIN based secure card
· Presently no transaction fee at State Bank ATMs. Annual maintenance fee of Rs. 50/- p.a. will be recovered from the second year of issue.
· Transaction fee at other bank ATMs is as under: -
· Cash Withdrawal and Balance enquiry at State Bank GroupATMs is free
· Transaction denied at other bank ATMs other than those under bilateral sharing network arrangement, due to inadequate balance is chargeable (charges are same as for balance inquiry as mentioned above)
· Transaction Limits:
ØATMs- Rs.25,000/-(per day)
ØMerchant Establishments- Rs.50,000/-(per day)
· No expiry date. Card bears only a "Valid from date"
SBI GOLD INTERNATIONAL DEBIT CARDS
SBI Gold Debit Cards have come with a variety of add-on features besides higher daily cash withdrawal limits at ATMs. The Gold International Debit cards are issued in association with MasterCard as well as VISA International and are available with all Core Banking Branches. Subscribe for one and get the power of Gold Debit Cards with which you can not only draw cash at ATMs but also dine, shop and travel using the Gold Debit. Above all get rewarded while you spend using these cards at MEs / Pos. You can also carry out e-commerce transactions on VbV (Verified by Visa) certified Internet websites using your SBI Visa Gold International Debit Card in a safe and secure manner. You can now transfer funds using the Visa Money Transfer facility, if you are an active Internet Banking User, to another VISA Debit / Credit Card issued by the Bank or by any other Bank!!! Similarly using our ATMs these card holders can now transfer funds from their account to another VISA Debit / Credit Card issued by the Bank or by any other bank!!!!
Salient Features OF SBI MasterCard Gold International Debit Card & SBI VISA Gold International Debit Cards:
SALIENT FEATURES
Visa Money Transfer (VMT) facility: This facility enables VISA Gold Debit / MasterCard Gold Debit / ATM Debit Cardholders of the Bank to transfer funds through the SBI group ATM and all active INB users with transaction rights to transfer funds to any VISA Debit Card/ Credit Card issued by the bank or any other Bank in India at a nominal cost. The cardholder has to make a one time registration and set-up the VISA Card to which he proposes to transfer funds, through State Bank's website
Verified by Visa (VbV) facility: This enables the SBI VISA International Gold Debit Cardholder, to carryout purchase transactions on Internet Merchant establishments, more securely using the Visa Gold Debit Card. The Card holder has to make a one time registration with State Bank's website or during the process of making a purchase on VbV authenticated internet merchants.
ATM SERVICES
STATE BANK NETWORKED ATM SERVICES
State Bank offers you the convenience of over 9000 ATMs in India, the largest network in the country and continuing to expand fast! This means that you can transact free of cost at the ATMs of State Bank Group (This 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 Indore, 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.
KINDS OF CARDS ACCEPTED AT STATE BANK ATMs
Besides 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) ATM Cards issued by Banks under bilateral sharing viz. Andhra Bank, Axis Bank,Bank of India, The Bank of Rajasthan Ltd., Canara Bank, Corporation Bank, Dena Bank, HDFC Bank, Indian Bank, Indus Ind Bank, Punjab National Bank, UCO Bank and Union Bank of India.
3) Cards issued by banks (other than banks under bilateral sharing) displaying Maestro, Master Card, Cirrus, VISA and VISA Electron logos
4) All Debit/ Credit Cards issued by any bank outside India displaying Maestro, Master Card, Cirrus, VISA and VISA Electron logos
1) State Bank Credit Card
2) ATM Cards issued by Banks under bilateral sharing viz. Andhra Bank, Axis Bank,Bank of India, The Bank of Rajasthan Ltd., Canara Bank, Corporation Bank, Dena Bank, HDFC Bank, Indian Bank, Indus Ind Bank, Punjab National Bank, UCO Bank and Union Bank of India.
3) Cards issued by banks (other than banks under bilateral sharing) displaying Maestro, Master Card, Cirrus, VISA and VISA Electron logos
4) All Debit/ Credit Cards issued by any bank outside India displaying Maestro, Master Card, Cirrus, VISA and VISA Electron logos
State Bank ATM-cum-Debit (State Bank Cash plus) Card:
India’s largest bank is proud to offer you unparalleled convenience viz. State Bank ATM-cum-Debit(Cash Plus) card. With this card, there is no need to carry cash in your wallet. You can now withdraw cash and make purchases anytime you wish to with your ATM-cum-Debit Card.
Get an ATM-cum-Debit card with which you can transact for FREE at any of over 9000 ATMs of State Bank Group within our country.
STATE BANK CASHPLUS SCHEME.
Get an ATM-cum-Debit card with which you can transact for FREE at any of over 9000 ATMs of State Bank Group within our country.
STATE BANK CASHPLUS SCHEME.
Features:
· Withdraw cash from over 9000 ATMs of our group FREE and about 16000 ATMs of other banks under bilateral sharing viz. Andhra Bank,Axis Bank, Bank of India, The Bank of Rajasthan Ltd. Canara Bank, Corporation Bank, Dena Bank, HDFC 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 a nominal fee as under: -
· Make payments for purchases by using the debit card at more than 2,39,000 shops, restaurants, shopping malls, hotels, petrol pumps and many other outlets which display Maestro logo.
· Recharge pre-paid mobile phones of Vodafone, IDEA and BPL without any charges at any State Bank ATM.
· Recharge pre-paid mobile phones of AIRTEL of 11 Circles viz. Mumbai, Delhi, Gujarat, M.P., U.P. (East), U.P. (West), Karnataka, Kerala, Andhra Pradesh, Tamilnadu, and Chennai, through ATM/ SMS anywhere in India.
· Recharge mobile phones of AIRTEL, Vodafone, IDEA and BPL without any charges at all ATMs as well as by sending SMS (after registration at State Bank ATM).The text of SMS will be as under: -
Service Provider SMS Text Send SMS to
· Recharge pre-paid mobile phones of Vodafone, IDEA and BPL without any charges at any State Bank ATM.
· Recharge pre-paid mobile phones of AIRTEL of 11 Circles viz. Mumbai, Delhi, Gujarat, M.P., U.P. (East), U.P. (West), Karnataka, Kerala, Andhra Pradesh, Tamilnadu, and Chennai, through ATM/ SMS anywhere in India.
· Recharge mobile phones of AIRTEL, Vodafone, IDEA and BPL without any charges at all ATMs as well as by sending SMS (after registration at State Bank ATM).The text of SMS will be as under: -
Service Provider SMS Text Send SMS to
Airtel RC (AMOUNT) PIN 535
BPL RC SBI (AMOUNT) PIN 140
Vodafone RC SBI (AMOUNT) PIN 147
IDEA RC SBI (AMOUNT) PIN 575
· Pay MTNL, Mumbai bills through State Bank ATMs
· Payment of SBI Credit Card bills
· Payment of SBI Life insurance premium
· Pay fees of select colleges
· Donate to Temple Trusts: - (a) Vaishno Devi (b) Shirdi Saibaba (c) Gurudwara Takht Saheb, Nanded (d) Tirupati and (e) Sri Jagannath Temple, Puri
· Payment of SBI Credit Card bills
· Payment of SBI Life insurance premium
· Pay fees of select colleges
· Donate to Temple Trusts: - (a) Vaishno Devi (b) Shirdi Saibaba (c) Gurudwara Takht Saheb, Nanded (d) Tirupati and (e) Sri Jagannath Temple, Puri
Transaction Limits:
Daily limit of Rs 25,000/- at the ATM
Daily limit of Rs 50,000/- at Point of Sale (POS) terminal for debit transactions Combined daily limit of Rs 75,000/-
Daily limit of Rs 50,000/- at Point of Sale (POS) terminal for debit transactions Combined daily limit of Rs 75,000/-
Fees:
There is no joining fee for State Bank ATM-cum-Debit (Cash Plus) card. Annual maintenance fee of Rs. 50/- p.a. will be recovered from the second year of issue.
State Bank Cash Plus International Card:
This is an International ATM-cum-Debit Card with which you can enjoy shopping atover 2,64,000 establishments in India and over 10.5 Million establishments worldwide displaying Maestro logo, wherein the amount you spend on your card is automatically debited to your account. Withdraw cash from over 9000 ATMs of our group FREE and over 16000 ATMs of other banks under bilateral sharing viz. Andhra Bank,Axis Bank, Bank of India, The Bank of Rajasthan Ltd. Canara Bank, Corporation Bank, Dena Bank, HDFC Bank, Indian Bank, IndusInd Bank, Punjab National Bank, UCO Bank and Union Bank of India apart from ATMs displaying Master Card/ Maestro / Cirrus logo in India and more than 8,20,000 ATMs across the globe for a nominal fee. In India, it would function as the State Bank ATM-cum-Debit (Cash Plus) card.
WITHDRAWAL LIMIT: -
i) Cash Withdrawals(per day) :
WITHDRAWAL LIMIT: -
i) Cash Withdrawals(per day) :
India Abroad
Minimum Rs. 100 Depends on the Bank whose ATM is being used
Maximum Rs. 45000 US$1000 or equivalent
ii) Transaction at POS (per day) :
India Abroad
ii) Transaction at POS (per day) :
India Abroad
Maximum Rs. 1,00,000 US$1000 or equivalent
Maximum permitted aggregate utilization in a day is Rs. 145000 in India and equivalent to US$ 2000 abroad (subject to compliance with the RBI and Exchange Control/ FEMA Regulations)
TRANSACTION COSTS: -
Maximum permitted aggregate utilization in a day is Rs. 145000 in India and equivalent to US$ 2000 abroad (subject to compliance with the RBI and Exchange Control/ FEMA Regulations)
TRANSACTION COSTS: -
The Card holder's account is liable to be debited with the following fees, if the transaction is made at an ATM owned by bank other than SBI and its Associates: -
Fees :
The State Bank Cash Plus International Card is available for one time joining fee of Rs 200/-. Annual maintenance fee of Rs. 50/- p.a. will be recovered from the second year of issue.
Fees :
The State Bank Cash Plus International Card is available for one time joining fee of Rs 200/-. Annual maintenance fee of Rs. 50/- p.a. will be recovered from the second year of issue.
Experience Anytime Anywhere Banking with STATE BANK. Call at toll free 1800-112211 from BSNL/MTNL landlines or 080-26599990 from other mobile/ landlines.
Enhanced Convenience:
State Bank accepts Debit/ Credit Cards issued by banks in India and abroad affiliated to both VISA and Master Card International at its over 9000 ATMs in India. Cash transactions and balance enquiries are allowed at these ATMs for which card issuing bank may levy nominal charges.
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
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
CORPORATE SALARY PACKAGE
SBI PRESENTS A NEW ATTRACTIVE PRODUCT FOR EMPLOYEES OF CORPORATES & INSTITUTIONS
BENEFITS TO THE EMPLOYER
· Provides a convenient way to manage salaries across a large number of centers through Core Power.
· Reduces employer’s paperwork and salary administration cost.
· Employees receive instant credit of salaries.
TO THE EMPLOYEES
· Employees will enjoy convenience of Anywhere Banking at the largest network of Core Banking Branches presently numbering 11400 plus across the country.
· Extensive alternative channels.
. 8500 plus ATMs of State Bank Group.
. Free Internet Banking
· Complete gamut of Banking Services including :-
· Zero Balance Account facility
· Retain same account number even when the account is transferred to another branch.
· Free Multi City Cheques/ SMS Alert/ e-statement/ internet banking.
· Easy overdraft upto 2 months salary repayment extendable to 6 months.
· RTGS/NEFT, Demat facility, Systematic Investment Plan in Mutual funds.
. Concession in interest on loans.
· Anywhere banking facility/ widest network of branches.
· Range of other value added benefits.
Sunday, September 28, 2008
RECURRING DEPOSIT ACCOUNT
Want to create a fund for your children's education or marriage or to buy a car or for a dream holiday? Whatever may be your financial goals, through our Recurring Deposit Scheme you can save a little every month so that at the time of need you have sufficient funds to achieve your financial goals. Recurring Deposit provides you the element of compulsion to save at high rates of interest applicable to Term Deposits alongwith liquidity to access that savings any time. So set aside a small amount every month and earn at compounded rates of interest.
Wide Choice in Period of Deposit
Flexibility in period of deposit with maturity ranging from 12 months to 120 months.
Low minimum monthly deposit amount.
You can start a Recurring Deposit with SBI for a monthly instalment of Rs.100/- only.
SBI Term Deposit Rates Apply
Highlights
Safety : SBI understand the value of your hard earned money and continue to deliver on our promise of safety and security over two centuries.
Liquidity Loan /overdraft facility: You can avail a loan/overdraft against your deposit.SBI provides you loan / overdraft upto 90% of your deposit amount at nominal cost.So you continue to earn interest in your deposit and still can meet your urgent financial requirements.
Transferability : Transfer of Recurring Deposit accounts between the branches without any charge.
Regular Instalments to your Account. Now you have motivation/compulsion to save a chosen amount every month and create a fund, which helps you to meet your future financial needs.
Recurring Deposits are available at all SBI Branches. Easy and convenient access of information at SBI Internet Banking
Other Benefits
Nomination Facility - Available
Regular Instalments to your Account
–Save in your account through Fixed Monthly Instalments.
–Monthly Instalments can be deposited on any working day of the month.
–Delayed monthly instalments attract penalty.
–Instalments payable in multiples of Rs.10/-
Free Fund Transfer
Free transfer of your funds through standing instructions from your Current or Savings Bank Account to your Recurring Deposit Account every month for the payment of your instalments, so that you do not have to worry about regular payments.
Regular Updates
You can monitor your deposit through SBI Internet Banking or through a passbook issued to you
Wide Choice in Period of Deposit
Flexibility in period of deposit with maturity ranging from 12 months to 120 months.
Low minimum monthly deposit amount.
You can start a Recurring Deposit with SBI for a monthly instalment of Rs.100/- only.
SBI Term Deposit Rates Apply
Highlights
Safety : SBI understand the value of your hard earned money and continue to deliver on our promise of safety and security over two centuries.
Liquidity Loan /overdraft facility: You can avail a loan/overdraft against your deposit.SBI provides you loan / overdraft upto 90% of your deposit amount at nominal cost.So you continue to earn interest in your deposit and still can meet your urgent financial requirements.
Transferability : Transfer of Recurring Deposit accounts between the branches without any charge.
Regular Instalments to your Account. Now you have motivation/compulsion to save a chosen amount every month and create a fund, which helps you to meet your future financial needs.
Recurring Deposits are available at all SBI Branches. Easy and convenient access of information at SBI Internet Banking
Other Benefits
Nomination Facility - Available
Regular Instalments to your Account
–Save in your account through Fixed Monthly Instalments.
–Monthly Instalments can be deposited on any working day of the month.
–Delayed monthly instalments attract penalty.
–Instalments payable in multiples of Rs.10/-
Free Fund Transfer
Free transfer of your funds through standing instructions from your Current or Savings Bank Account to your Recurring Deposit Account every month for the payment of your instalments, so that you do not have to worry about regular payments.
Regular Updates
You can monitor your deposit through SBI Internet Banking or through a passbook issued to you
MULTI OPTION DEPOSIT ACCOUNT
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 upto the balance in the MOD account or upto the drawing power available as overdraft in the Current account.Withdrawals through ATMs can also be conveniently made.
Exclusive Features:
Complete Liquidity : Convenience of Overdraft.Earns a higher rate of interest on your 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.
You 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 - Available.
Tax Implications : Tax Deductible at Source as applicable to Term Deposits/ Special Term Deposits.
Automatic Renewals : As applicable to Term Deposits/ Special Term Deposits.
Premature Withdrawal : As applicable to Term Deposits/ Special Term Deposits.
Regular Updates : A quarterly statement showing the value of the deposits including interest, is issued.
Nomination Facility - Available.
Exclusive Features:
Complete Liquidity : Convenience of Overdraft.Earns a higher rate of interest on your 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.
You 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 - Available.
Tax Implications : Tax Deductible at Source as applicable to Term Deposits/ Special Term Deposits.
Automatic Renewals : As applicable to Term Deposits/ Special Term Deposits.
Premature Withdrawal : As applicable to Term Deposits/ Special Term Deposits.
Regular Updates : A quarterly statement showing the value of the deposits including interest, is issued.
Nomination Facility - Available.
SPECIAL TERM DEPOSIT
This plan helps you to earn interest on interest, thus giving you a two-fold income. You deposit your money for any period between six months to 10 years, and SBI pays you interest on your deposited money plus on the interest you earn. Thus your interest gets compounded every quarter giving you higher returns.
Affordable/Very Low Minimum Deposit Amount : You can open a Special Term Deposit with SBI for a nominal amount of Rs. 1000/- only.
Highlights
Safety - SBI understands the value of your hard earned money and continue to deliver on our promise of safety and security over 200 years.
Liquidity
Loan /overdraft facility: You can avail a loan/overdraft against your deposit.SBI provides you loan / overdraft upto 90% of your deposit amount at nominal cost.So you continue to earn interest in your deposit and still can meet your urgent financial requirements.
Premature Withdrawal : Interest to be charged on premature withdrawal of special term deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank.
Transferability - Transfer of Special Term Deposits between the SBI branches without any charge.
Flexible / Timely Payment of Interest - We assure timely delivery of the proceeds of your 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 - Available.
Tax Implications.
Tax Deductible at Source, as per Income Tax Act.
Automatic Renewals
There is no need for you to keep track of the maturity of your deposits.Your deposits with SBI will be renewed automatically, post maturity.And you continue to earn interest for same period as that of your 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 covert your Term Deposit to Special Term Deposit and vice versa
You can convert your Term Deposit to a Special Term Deposit, which provides compounded rate of interest to multiply your money faster.You can also convert your Special Term Deposit to a Term Deposit to receive monthly/quarterly interest payments to match your financial requirements.
Affordable/Very Low Minimum Deposit Amount : You can open a Special Term Deposit with SBI for a nominal amount of Rs. 1000/- only.
Highlights
Safety - SBI understands the value of your hard earned money and continue to deliver on our promise of safety and security over 200 years.
Liquidity
Loan /overdraft facility: You can avail a loan/overdraft against your deposit.SBI provides you loan / overdraft upto 90% of your deposit amount at nominal cost.So you continue to earn interest in your deposit and still can meet your urgent financial requirements.
Premature Withdrawal : Interest to be charged on premature withdrawal of special term deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank.
Transferability - Transfer of Special Term Deposits between the SBI branches without any charge.
Flexible / Timely Payment of Interest - We assure timely delivery of the proceeds of your 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 - Available.
Tax Implications.
Tax Deductible at Source, as per Income Tax Act.
Automatic Renewals
There is no need for you to keep track of the maturity of your deposits.Your deposits with SBI will be renewed automatically, post maturity.And you continue to earn interest for same period as that of your 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 covert your Term Deposit to Special Term Deposit and vice versa
You can convert your Term Deposit to a Special Term Deposit, which provides compounded rate of interest to multiply your money faster.You can also convert your Special Term Deposit to a Term Deposit to receive monthly/quarterly interest payments to match your financial requirements.
SBI TAX SAVINGS SCHEME, 2006
A unique product which offers higher rate of interest alongwith tax benefits.Specially designed to cater to the needs of the Income Tax assessees.The distinctive features of this scheme are as below:
Purpose : To enable customers to place long term deposits to earn higher rate of interest and also to avail the tax benefits under section 80C of Income Tax Act, 1961.
Eligibility : Resident assessee for himself/ herself as an individual or in the capacity of the Karta of the Hindu undivided family, having Income tax Permanent Account Number
Mode of Operation : Singly or Jointly
Minimum Deposit : Rs. 1,000/- or multiples thereof
Maximum Deposit : Not exceeding Rs. 1,00,000/- in a year
Type of account : Term Deposit (TD) account / Special Term Deposit (STD) account
Tenure : Minimum: 5 years - Maximum: 10 years
Rate of Interest : General Public – 8.00%
Senior Citizens – 0.50% above the rate applicable to general public i.e. 8.50%
Premature withdrawal : No term deposit shall be encashed before the expiry of five years from the date of its receipt.
Availability : Presently at CBS Branches
Nomination Facility : Available
Loan Facility : Not Available
Transferability : among branches Allowed
Purpose : To enable customers to place long term deposits to earn higher rate of interest and also to avail the tax benefits under section 80C of Income Tax Act, 1961.
Eligibility : Resident assessee for himself/ herself as an individual or in the capacity of the Karta of the Hindu undivided family, having Income tax Permanent Account Number
Mode of Operation : Singly or Jointly
Minimum Deposit : Rs. 1,000/- or multiples thereof
Maximum Deposit : Not exceeding Rs. 1,00,000/- in a year
Type of account : Term Deposit (TD) account / Special Term Deposit (STD) account
Tenure : Minimum: 5 years - Maximum: 10 years
Rate of Interest : General Public – 8.00%
Senior Citizens – 0.50% above the rate applicable to general public i.e. 8.50%
Premature withdrawal : No term deposit shall be encashed before the expiry of five years from the date of its receipt.
Availability : Presently at CBS Branches
Nomination Facility : Available
Loan Facility : Not Available
Transferability : among branches Allowed
TERM DEPOSIT IN SBI
TERM DEPOSITS
Now you can earn a higher income on your surplus funds by investing those with SBI. SBI provide security, trust and competitive rate of interest.
·Flexibility in period of term deposit from 15 days to 10 years.
·Affordable Low Minimum Deposit Amount: You can open a term deposit with SBI for a nominal amount of Rs.1000/- only.
·Flexibility in choosing the amount you wish to invest and the maturity period.
Highlights
Safety - SBI understand the value of your hard earned money and continue to deliver promise of safety and security over 200 years.
Liquidity
Loan /overdraft facility: You can avail a loan/overdraft against your deposit.SBI provides you loan / overdraft upto 90% of your deposit amount at nominal cost.So you continue to earn interest in your deposit and still can meet your urgent financial requirements.
Premature Withdrawal
Interest to be charged on premature withdrawal of term deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank.
Transferability- Transfer of Term Deposits between SBI's wide network of branches without any charge.
·Compounding / Flexible / Timely Payment of Interest - Under our Special Term Deposit Scheme, interest accrues in your account and gets compounded quarterly. SBI assure timely delivery of the proceeds of your 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.
Term Deposits are available at all SBI Branches. Easy and convenient access of 24X7 information at SBI Internet Banking.
Nomination Facility - Available.
Tax Implications.
Tax Deductible at Source, as per Income Tax Act.
Automatic Renewals
There is no need for you to keep track of the maturity of your deposits.Your deposits with SBI will be renewed automatically, post maturity.And you continue to earn interest for same period as that of your 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 covert your Special Term Deposit to Term Deposit and vice versa
You can convert your special Term Deposit to a Term Deposit to receive monthly/quarterly interest payments to match your financial requirements.You can also convert your Term Deposit to a Special Term Deposit, which provides compounded rate of interest to multiply your money faster.
Now you can earn a higher income on your surplus funds by investing those with SBI. SBI provide security, trust and competitive rate of interest.
·Flexibility in period of term deposit from 15 days to 10 years.
·Affordable Low Minimum Deposit Amount: You can open a term deposit with SBI for a nominal amount of Rs.1000/- only.
·Flexibility in choosing the amount you wish to invest and the maturity period.
Highlights
Safety - SBI understand the value of your hard earned money and continue to deliver promise of safety and security over 200 years.
Liquidity
Loan /overdraft facility: You can avail a loan/overdraft against your deposit.SBI provides you loan / overdraft upto 90% of your deposit amount at nominal cost.So you continue to earn interest in your deposit and still can meet your urgent financial requirements.
Premature Withdrawal
Interest to be charged on premature withdrawal of term deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank.
Transferability- Transfer of Term Deposits between SBI's wide network of branches without any charge.
·Compounding / Flexible / Timely Payment of Interest - Under our Special Term Deposit Scheme, interest accrues in your account and gets compounded quarterly. SBI assure timely delivery of the proceeds of your 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.
Term Deposits are available at all SBI Branches. Easy and convenient access of 24X7 information at SBI Internet Banking.
Nomination Facility - Available.
Tax Implications.
Tax Deductible at Source, as per Income Tax Act.
Automatic Renewals
There is no need for you to keep track of the maturity of your deposits.Your deposits with SBI will be renewed automatically, post maturity.And you continue to earn interest for same period as that of your 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 covert your Special Term Deposit to Term Deposit and vice versa
You can convert your special Term Deposit to a Term Deposit to receive monthly/quarterly interest payments to match your financial requirements.You can also convert your Term Deposit to a Special Term Deposit, which provides compounded rate of interest to multiply your money faster.
SAVINGS PLUS ACCOUNT
SAVINGS PLUS ACCOUNT
SBI'S Savings Plus Account brings to you the best of both Savings Bank and Term Deposit Accounts.This provides you the convenience of a Savings Bank Account alongwith higher return of Term Deposit.
How is SBI Savings Plus Account Doubly Profitable?
Open a Savings Plus Account and set a threshold limit.Any surplus funds in the account exceeding the threshold limit, for a minimum amount of Rs.10,000/- and in multiple of Rs.1000/- in any one instance, are transferred as Term Deposit and earns interest as applicable to Term Deposits.Flexibility to choose the period of deposit from 1 year to 5 years.Flexibility to set any threshold limit of Rs.5,000/- or above.
Other Benefits of SBI Savings Plus Account
Get your Free ATM cum Debit Card and have access to the widest network of ATMs across the country to withdraw cash, enquire about your balance, etc. Moreover, your card enables you to shop at a large number of Merchant Establishments in India.You can also avail yourself of SBI International ATM-cum-Debit Card that can be used within as well as outside India, at a nominal fee.
Easy and Wide Accessibility
Transact at your convenience, saving time and cost through SBI Internet Banking
You can also withdraw cash from Maestro endorsed ATMs of other banks under bilateral sharing, at a nominal fee.
Monitoring Your Account
Monitor and control your funds through SBI Internet Banking and / or through Passbook/ advice of Term Deposits/ Special Term Deposits. Alternatively, access your account by downloading InstantSBI on your computer.
Value Added Features
Transfer of accounts between our wide network of branches without any charge.
Nomination Facility - Available.
SBI'S Savings Plus Account brings to you the best of both Savings Bank and Term Deposit Accounts.This provides you the convenience of a Savings Bank Account alongwith higher return of Term Deposit.
How is SBI Savings Plus Account Doubly Profitable?
Open a Savings Plus Account and set a threshold limit.Any surplus funds in the account exceeding the threshold limit, for a minimum amount of Rs.10,000/- and in multiple of Rs.1000/- in any one instance, are transferred as Term Deposit and earns interest as applicable to Term Deposits.Flexibility to choose the period of deposit from 1 year to 5 years.Flexibility to set any threshold limit of Rs.5,000/- or above.
Other Benefits of SBI Savings Plus Account
Get your Free ATM cum Debit Card and have access to the widest network of ATMs across the country to withdraw cash, enquire about your balance, etc. Moreover, your card enables you to shop at a large number of Merchant Establishments in India.You can also avail yourself of SBI International ATM-cum-Debit Card that can be used within as well as outside India, at a nominal fee.
Easy and Wide Accessibility
Transact at your convenience, saving time and cost through SBI Internet Banking
You can also withdraw cash from Maestro endorsed ATMs of other banks under bilateral sharing, at a nominal fee.
Monitoring Your Account
Monitor and control your funds through SBI Internet Banking and / or through Passbook/ advice of Term Deposits/ Special Term Deposits. Alternatively, access your account by downloading InstantSBI on your computer.
Value Added Features
Transfer of accounts between our wide network of branches without any charge.
Nomination Facility - Available.
SAVINGS BANK ACCOUNT
SAVINGS BANK ACCOUNT
SBI Savings Bank Account helps you to plan and save for your future financial requirements. Your savings remain liquid, safe and earn moderate interest.
Benefits
Card Convenience
Get your Free ATM cum Debit Card and have access to the widest network of ATMs across the country to withdraw cash, enquire about your balance, etc. Moreover, your card enables you to shop at a large number of Merchant Establishments in India. You can also avail yourself of our International ATM-cum-Debit Card, which can be used within as well as outside India, at a nominal fee.
Easy and Wide Accessibility
Transact at your convenience, saving time and cost through SBI Internet Banking.
You can also withdraw cash from Maestro endorsed ATMs of other banks under bilateral sharing, at a nominal fee.
Monitoring Your Account
Monitor and control your funds through SBI Internet Banking or/ and through Passbook/ statement of account facility.
Alternatively, access your account by downloading InstantSBI on your computer.
Moderate Earning
SBI Savings Bank Account earns you an interest at the rate of 3.5% p.a., compounded half yearly.
Money Multipliers
Earn Interest at Term Deposit rates through Savings Plus Account.
Link your Savings Bank Account to your Multi Option Deposit (MOD) Account to earn additional interest on your surplus money and get the facility of automatic unitised break up of MOD in case there is a shortfall in your SB account to honour the cheque drawn by you.
Value Added Features
· Transfer of accounts between our wide network of branches without any charge.
· Nomination facility – Available
· 25 cheque leaves free, in a year
· Minimum balance requirements and charges per quarter for violation
of the stipulations, as mentioned in brackets there against - centre wise:-
Centres Cheque operated account Ordinary account
Metro/Urban/ Rs.1000 (Rs.200) Rs. 500 (Rs.200)
Semi-Urban
Rural Rs.500 (Rs.100) Rs. 250 (Rs.100)
SBI Savings Bank Account helps you to plan and save for your future financial requirements. Your savings remain liquid, safe and earn moderate interest.
Benefits
Card Convenience
Get your Free ATM cum Debit Card and have access to the widest network of ATMs across the country to withdraw cash, enquire about your balance, etc. Moreover, your card enables you to shop at a large number of Merchant Establishments in India. You can also avail yourself of our International ATM-cum-Debit Card, which can be used within as well as outside India, at a nominal fee.
Easy and Wide Accessibility
Transact at your convenience, saving time and cost through SBI Internet Banking.
You can also withdraw cash from Maestro endorsed ATMs of other banks under bilateral sharing, at a nominal fee.
Monitoring Your Account
Monitor and control your funds through SBI Internet Banking or/ and through Passbook/ statement of account facility.
Alternatively, access your account by downloading InstantSBI on your computer.
Moderate Earning
SBI Savings Bank Account earns you an interest at the rate of 3.5% p.a., compounded half yearly.
Money Multipliers
Earn Interest at Term Deposit rates through Savings Plus Account.
Link your Savings Bank Account to your Multi Option Deposit (MOD) Account to earn additional interest on your surplus money and get the facility of automatic unitised break up of MOD in case there is a shortfall in your SB account to honour the cheque drawn by you.
Value Added Features
· Transfer of accounts between our wide network of branches without any charge.
· Nomination facility – Available
· 25 cheque leaves free, in a year
· Minimum balance requirements and charges per quarter for violation
of the stipulations, as mentioned in brackets there against - centre wise:-
Centres Cheque operated account Ordinary account
Metro/Urban/ Rs.1000 (Rs.200) Rs. 500 (Rs.200)
Semi-Urban
Rural Rs.500 (Rs.100) Rs. 250 (Rs.100)
PREMIUM SAVINGS ACCOUNT
PREMIUM SAVINGS ACCOUNT
SBI's Premium Savings Account provides an enriched version of Savings Bank account consisting of various concessions and add-ons. It is suitable for 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 unitised break-up facilities.
Available at At all CBS branches
Minimum balance i) Savings Bank Component: Rs.25,000/-
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 unitised 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: Available with no charges for issuance upto 100 cheque leaves in a Financial Year.
ii) Multi-city cheques: 25 cheque leaves free in a year.
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 i) If minimum balance is not maintained, to be calculated on Quarterly Average Balance basis, Rs. 500/- will be charged per quarter.
ii) 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.
SBI's Premium Savings Account provides an enriched version of Savings Bank account consisting of various concessions and add-ons. It is suitable for 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 unitised break-up facilities.
Available at At all CBS branches
Minimum balance i) Savings Bank Component: Rs.25,000/-
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 unitised 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: Available with no charges for issuance upto 100 cheque leaves in a Financial Year.
ii) Multi-city cheques: 25 cheque leaves free in a year.
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 i) If minimum balance is not maintained, to be calculated on Quarterly Average Balance basis, Rs. 500/- will be charged per quarter.
ii) 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.
SBI NO FRILL ACCOUNT
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 individuals from the vast sections of population who are, otherwise, not fulfilling certain conditions of existing Savings Bank account requirements. 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 accounts, if a minimum balance of Rs.500/- or more is maintained.
Cheque facility: Available.
ATM-cum-debit card: Will be issued free of charge.
Internet Banking facility: Not available
Number of accounts: Ordinarily, a customer will not be allowed to open more than one basic banking 'no-frills' account.
Pass book: Will be issued, updation 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 are 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 Specialised branches.
This account comes with very low minimum balances as well as low/ nil charges, to cater to the needs of individuals from the vast sections of population who are, otherwise, not fulfilling certain conditions of existing Savings Bank account requirements. 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 accounts, if a minimum balance of Rs.500/- or more is maintained.
Cheque facility: Available.
ATM-cum-debit card: Will be issued free of charge.
Internet Banking facility: Not available
Number of accounts: Ordinarily, a customer will not be allowed to open more than one basic banking 'no-frills' account.
Pass book: Will be issued, updation 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 are 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 Specialised branches.
Saturday, September 27, 2008
SBI current account
CURRENT ACCOUNT
Get your Free ATM cum Debit Card and have access to the widest network of ATMs across the country to withdraw cash, enquire about your balance, etc. Moreover, your card enables you to shop at a large number of Merchant Establishments in India.You can also avail yourself of SBI's International ATM-cum-Debit Card which can be used within as well as outside India, at a nominal fee.
Easy and Wide Accessibility
Transact at your convenience, saving time and cost through SBI Internet Banking.
You can also withdraw cash from Maestro endorsed ATMs of other banks under bilateral sharing, at a nominal fee.
Monitoring Your Account
Monitor and control your funds through SBI Internet Banking or/ and through Passbook/ statement of account facility. Alternatively, access your account by downloading InstantSBI on your computer.
Transaction Ease
Unlimited number of payments Make payments by giving standing instructions
Remit funds from any part of the country to your account.
Upcountry Cheque Collection facility.
Other Benefits
Overdraft facility.
Transfer of accounts between our wide network of branches without any charge.
Nomination Facility - Available.
Low minimum balance requirements
Deposit Accounts in SBI
- DEPOSIT SCHEMES
Whatever your needs - an investment of your surplus funds or to create a fund for your childrens' education and marriage. You will find a product from SBI that suits your requirement, delivered at a branch close to you.
Open an account with any of SBI branches, all of them are fully computerised, and realise the advantage of SBI 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 you full liquidity as well as benefits of higher rates of returns, through your savings bank account. Alternately, keep that deposit intact by availing an overdraft facility, to meet your occasional temporary funds requirements.
Want to build up savings slowly? Discover our Recurring Deposit Account. You can save a little every month to build up the desired corpus to meet your future requirement of funds.
SBI products are designed with flexibility to suit your personal requirements. Enjoy 24 hour banking facility through SBI Internet Banking/ widest network of ATMs. - Current Account
- Savings Plus Account
- Savings Bank Account
- Basic Banking 'No frills Account'
- Term Deposits
- Recurring Deposit Account
- Special Term Deposits
- PREMIUM SAVINGS ACCOUNT
- Multi Option Deposit Scheme
- SBI Tax Savings Scheme, 2006
- Demat Account
Experience a whole new world of Personal Banking Branches (PBB) often dubbed as boutique branches by others. Customer friendly knowledgeable staff will cater to your financial requirements with speed and efficiency in an excellent ambience. The PBBs have different minimum thresholds for customers' business to ensure the exclusive level of service.
LIST OF SPECIALISED BRANCHES IN SBI
List of branches by product/service offered:
- Core Banking Branches
- Domestic Forex Branches
- Internet Banking Branches
- Real Time Gross Settlement Branches
List of branches by branch type:
- Agricultural Business branches
- Agricultural Development branches
- Commercial Branches
- Corporate Accounts Group branches
- Industrial Finance branches
- Main Brances
- Mid Croporate Group branches
- NRI Banking branches
- Other branches
- Overseas branches
- Personal Banking branches
- Rehabilitation & Recovery branches
- Service branchesSSI / SIB branches
- Branches Conducting PPF Business
STATE BANK ATM CENTERS IN TRICHY
1 B D UNIVERSITY TRICHY,
BHARATIDASAN UNIVERSITY,
PALKALAI PERUR SURIYUR,
TRICHY, TAMIL NADU - 620024
2 HE KAILASAPURAM TRICHY,
PB NO.3
KAILASAPURAM PO,
HEAVY ELEC KAILASAPURAM,
TRICHY, TAMIL NADU - 620014
3 MELACHINTAMANI TRICHY-ATM#CD,
PERIASAMY TOWERS ,
31 KALIAMMAN KOIL STREET,
TRICHY,
TAMIL NADU - 620002
4 MICR BRANCH TRICHY,
SBI MICR BR AASHA ARCADE ,
73-PROMANANDE ROAD TRICHY,
TRICHY,
TAMIL NADU - 62001
5 MISSION HOSPITAL WORAIYUR,
8/1 A-ST.PAUL CHURCH COMP,
MISSION HOSPITAL ROAD,
TRICHY, TAMIL NADU - 620003
6 TENNUR TRICHY,
NO. 24-BABA TOWERS,
TENNUR HIGH ROAD TENNUR,
TRICHY,
TAMIL NADU - 620017
7 THILLAI NAGAR TRICHY,
19 THILLAI NAGAR MAIN RD,
THILLAI NAGAR ,
TRICHY,
TAMIL NADU - 620019
8 BIG BAZAAR STREET TRICHY TOWN,
194-BIG BAZAAR STREET ,
SMJ ENCLAVE TRICHY-620008,
TRICHY,
TAMIL NADU - 620002
9 R E C TRICHY,
PB NO.E R E C CAMPUS,
REC POST ,
TIRUCHIRAPALLI,
TAMIL NADU - 620015
10 PB NO.21 ,
MCDONALDS ROAD ,
TIRUCHIRAPALLI,
TAMIL NADU - 620001
11.State Bank Of India Puthur ,
Trichy . 620017
12.State Bank Of India Srirangam ,
Trichy . 620006
BHARATIDASAN UNIVERSITY,
PALKALAI PERUR SURIYUR,
TRICHY, TAMIL NADU - 620024
2 HE KAILASAPURAM TRICHY,
PB NO.3
KAILASAPURAM PO,
HEAVY ELEC KAILASAPURAM,
TRICHY, TAMIL NADU - 620014
3 MELACHINTAMANI TRICHY-ATM#CD,
PERIASAMY TOWERS ,
31 KALIAMMAN KOIL STREET,
TRICHY,
TAMIL NADU - 620002
4 MICR BRANCH TRICHY,
SBI MICR BR AASHA ARCADE ,
73-PROMANANDE ROAD TRICHY,
TRICHY,
TAMIL NADU - 62001
5 MISSION HOSPITAL WORAIYUR,
8/1 A-ST.PAUL CHURCH COMP,
MISSION HOSPITAL ROAD,
TRICHY, TAMIL NADU - 620003
6 TENNUR TRICHY,
NO. 24-BABA TOWERS,
TENNUR HIGH ROAD TENNUR,
TRICHY,
TAMIL NADU - 620017
7 THILLAI NAGAR TRICHY,
19 THILLAI NAGAR MAIN RD,
THILLAI NAGAR ,
TRICHY,
TAMIL NADU - 620019
8 BIG BAZAAR STREET TRICHY TOWN,
194-BIG BAZAAR STREET ,
SMJ ENCLAVE TRICHY-620008,
TRICHY,
TAMIL NADU - 620002
9 R E C TRICHY,
PB NO.E R E C CAMPUS,
REC POST ,
TIRUCHIRAPALLI,
TAMIL NADU - 620015
10 PB NO.21 ,
MCDONALDS ROAD ,
TIRUCHIRAPALLI,
TAMIL NADU - 620001
11.State Bank Of India Puthur ,
Trichy . 620017
12.State Bank Of India Srirangam ,
Trichy . 620006
Friday, September 26, 2008
CAREER LOAN, PILOT TRAINING, AVAIATION PROGLRAMME, AIR HOSTESS
SBI CAREER LOAN
Do you want to opt for training to acquire skills needed to join Commercial Pilot training courses or Airhostess Training courses in India and abroad, from institutes recognized by the Ministry of Civil Aviation/DGCA, then you can avail SBI Career Loan.
Do you want to opt for training to acquire skills needed to join Commercial Pilot training courses or Airhostess Training courses in India and abroad, from institutes recognized by the Ministry of Civil Aviation/DGCA, then you can avail SBI Career Loan.
SBI have a loan scheme for this purpose, in the form of Personal Loan secured by Mortgage of Immovable Property/Govt.Securities, Public Sector Bonds,NSCs/KVPs/RBI Relief Bonds/Bank’s TDR/LIC Policies etc.
Name of the Scheme
Name of the Scheme
SBI Career Loan
Eligibility
You are eligible if you are willing to undertake a course for joining Commercial Pilot training courses and Airhostess Training courses in India and abroad from institutes recognized by the Ministry of Civil Aviation/DGCA.
Age
(i) Applicant – Minimum 18 years
(ii) Co-borrower – Maximum 60 years
Quantum of loan
Maximum of Rs.20.00 lacs
Nature of facility
Term Loans with the applicant and parent/guardian/spouse as co-borrowers
Repayment
36 months in Equated Monthly Instalments with maximum moratorium one year after completion of the course for start of repayment. No penal charges would be levied in case of early repayment of loan.
Processing fee
0.50% of the loan amount
Margin
Sl.No. Type of Security Margin
1. Land/Building 20%
2. Govt.Securities/Public Sector Bonds, NSCs, KVPs,Bank’s Deposits, RBI Relief Bonds etc.
10% on the Face value of the Security
3. LIC Policies 10% margin on Surrender value of LIC Policies
Interest
Sl.No. Type of Security Rate of Interest
1. Land/Building 0.25% above SBAR i.e. 14.00% p.a..
2. Bank’s TDRs/STDRs 1.00% above the rate of interest payable on deposits
3. Govt.Securities/Public Sector Bonds/NSCs/ KVPs/RBI Relief Bonds,LIC Policy
SBAR – 13.75% p.a.
Eligibility
You are eligible if you are willing to undertake a course for joining Commercial Pilot training courses and Airhostess Training courses in India and abroad from institutes recognized by the Ministry of Civil Aviation/DGCA.
Age
(i) Applicant – Minimum 18 years
(ii) Co-borrower – Maximum 60 years
Quantum of loan
Maximum of Rs.20.00 lacs
Nature of facility
Term Loans with the applicant and parent/guardian/spouse as co-borrowers
Repayment
36 months in Equated Monthly Instalments with maximum moratorium one year after completion of the course for start of repayment. No penal charges would be levied in case of early repayment of loan.
Processing fee
0.50% of the loan amount
Margin
Sl.No. Type of Security Margin
1. Land/Building 20%
2. Govt.Securities/Public Sector Bonds, NSCs, KVPs,Bank’s Deposits, RBI Relief Bonds etc.
10% on the Face value of the Security
3. LIC Policies 10% margin on Surrender value of LIC Policies
Interest
Sl.No. Type of Security Rate of Interest
1. Land/Building 0.25% above SBAR i.e. 14.00% p.a..
2. Bank’s TDRs/STDRs 1.00% above the rate of interest payable on deposits
3. Govt.Securities/Public Sector Bonds/NSCs/ KVPs/RBI Relief Bonds,LIC Policy
SBAR – 13.75% p.a.
Scholar Loan. IIM, XLRI, JIPMER, IIFT, MARINE, MEDICAL, ANNA UNIVESITY
SCHOLAR LOAN
Education Loans to students securing admissions in:
The country’s best engineering colleges
The nation’s elite medical colleges
India’s top B-Schools
The country’s best engineering colleges
The nation’s elite medical colleges
India’s top B-Schools
Eligibility
A term loan granted to Indian Nationals for pursuing higher education in India in the following institutions.
A term loan granted to Indian Nationals for pursuing higher education in India in the following institutions.
1. IIM, Ahmedabad
2. IIM, Bangalore
3. IIM Indore
4. IIM, Kozikode
5. IIM, Kolkata
6. IIM, Lucknow
7. IIM, Shillong
8. IIT Mumbai
9. IIT Kanpur
10. IIT Chennai
11. IIT Kharagpur
12. IIT Guwahati
13. IIT Delhi
14. IIT Roorkee
15. IIT Gujrat
16. IIT Punjab
17. IIT Rajastan
18. IIT Hyderabad
19. IIT Bihar
20. IIT Orissa
21. CMC Vellore
22. Bangalore Medical College, Bangalore
23. JIPMER, Pondicherry
24. Madras Medical College, Chennai
25. Grant MedicalCollege, Mumbai
26. AFMC, Pune
27. King Edward Medical College, Mumbai
28. Maulana Azad Medical College, Delhi
29. AIIMS, Delhi
30. LHMC, Delhi
31. PGIMER, Chandigarh
32. NID, Ahmedabad
33. Nirma Institute of Management
34. FMS, Delhi
35. Indian Institute of Foreign Trade, Delhi
36. IMT, Ghaziabad
37. Dept of Management Studies, IIT, Delhi
38. Indian Institute of Forest Management Bhopal
39. Mudra Institute of Communication, Ahmedabad
40. Marine Engg College, Kolkata
41. IISc, Bangalore
42. Institute of Rural Management, Anand
43. IT BHU, Banaras
44. Dept of Indl & Management Engg IIT, Kanpur
45. NITIE, Mumbai
46. NMIMS, Mumbai
47. KMC, Manipal
48. IIT-SJSOM, Mumbai
49. Jamnalal Bajaj, Mumbai
50. S P Jain, Mumbai
51. Delhi College of Engg., Delhi
52. TISS, Mumbai
53. BITS, Pilani
54. XIM, Bhubaneswar
55. Symbiosis Institute of Business Management, Pune
56. XLRI, Jamshedpur
57. ISM, Dhanbad
58. MDI Gurgaon
59. Anna University, Chennai
2. IIM, Bangalore
3. IIM Indore
4. IIM, Kozikode
5. IIM, Kolkata
6. IIM, Lucknow
7. IIM, Shillong
8. IIT Mumbai
9. IIT Kanpur
10. IIT Chennai
11. IIT Kharagpur
12. IIT Guwahati
13. IIT Delhi
14. IIT Roorkee
15. IIT Gujrat
16. IIT Punjab
17. IIT Rajastan
18. IIT Hyderabad
19. IIT Bihar
20. IIT Orissa
21. CMC Vellore
22. Bangalore Medical College, Bangalore
23. JIPMER, Pondicherry
24. Madras Medical College, Chennai
25. Grant MedicalCollege, Mumbai
26. AFMC, Pune
27. King Edward Medical College, Mumbai
28. Maulana Azad Medical College, Delhi
29. AIIMS, Delhi
30. LHMC, Delhi
31. PGIMER, Chandigarh
32. NID, Ahmedabad
33. Nirma Institute of Management
34. FMS, Delhi
35. Indian Institute of Foreign Trade, Delhi
36. IMT, Ghaziabad
37. Dept of Management Studies, IIT, Delhi
38. Indian Institute of Forest Management Bhopal
39. Mudra Institute of Communication, Ahmedabad
40. Marine Engg College, Kolkata
41. IISc, Bangalore
42. Institute of Rural Management, Anand
43. IT BHU, Banaras
44. Dept of Indl & Management Engg IIT, Kanpur
45. NITIE, Mumbai
46. NMIMS, Mumbai
47. KMC, Manipal
48. IIT-SJSOM, Mumbai
49. Jamnalal Bajaj, Mumbai
50. S P Jain, Mumbai
51. Delhi College of Engg., Delhi
52. TISS, Mumbai
53. BITS, Pilani
54. XIM, Bhubaneswar
55. Symbiosis Institute of Business Management, Pune
56. XLRI, Jamshedpur
57. ISM, Dhanbad
58. MDI Gurgaon
59. Anna University, Chennai
Salient Features
Option to avail loan at Campus or branch nearer to permanent residence
Option to transfer loan account to a branch convenient to student for repayment.
Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.
Loan amount
Maximum loan amount upto Rs.15 lacs
Expenses covered
Fees payable to college/school/hostel
Purchase of books/equipments/instruments
Travel expenses/expenses on exchange programme
Purchase of computer/laptop
Any other expenses related to education
Interest Rate
1.5% below SBAR effective rate 12.25% p.a. (floating)
Repayment
Moratorium upto course duration plus six months
Flexible repayment period upto 7 years.
Security
No security.
Co-borrower (Parent/guardian as co-borrower at Bank’s discretion)
Margin
Nil upto Rs.4 lacs
5% above Rs.4 lacs
Documentation Required
Letter of admission
2 passport size photographs
Proof of identity (driving licence/passport/PAN/any photo identity)
Proof of residence (driving licence/passport/electricity bill/phone bill)
Statement of expenses
Option to avail loan at Campus or branch nearer to permanent residence
Option to transfer loan account to a branch convenient to student for repayment.
Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.
Loan amount
Maximum loan amount upto Rs.15 lacs
Expenses covered
Fees payable to college/school/hostel
Purchase of books/equipments/instruments
Travel expenses/expenses on exchange programme
Purchase of computer/laptop
Any other expenses related to education
Interest Rate
1.5% below SBAR effective rate 12.25% p.a. (floating)
Repayment
Moratorium upto course duration plus six months
Flexible repayment period upto 7 years.
Security
No security.
Co-borrower (Parent/guardian as co-borrower at Bank’s discretion)
Margin
Nil upto Rs.4 lacs
5% above Rs.4 lacs
Documentation Required
Letter of admission
2 passport size photographs
Proof of identity (driving licence/passport/PAN/any photo identity)
Proof of residence (driving licence/passport/electricity bill/phone bill)
Statement of expenses
Travel Loan, Loan for tour
TRAVEL PLUSDo you want funds readily available to you whenever you desire to go on a vacation that you plan with your family or friends? SBI's Easy Travel Loan is the answer to your questions.Enjoy the SBI Advantage:
· Low interest rate. Further, SBI charge interest on a daily reducing balance!!
· Low processing charges; only 1% of loan amount.
· Complete transparency; No hidden costs or administrative charges.
· No security required ……which means minimal documentation…something that you had always wanted.
· No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
· Long repayment period of up to 48 months.
The SchemePurposeTo meet any kind of Travel expense such as cost of ticket, hotel stay, visa, airport tax, purchase of Basic Travel Quota, etc.
Eligibility
You are eligible if you are:
1. A State/Central Govt. Employee, employee of public sector undertaking/reputed profit making public limited company, reputed institutions, MNC with a minimum service experience of 2 years.
2. A self employed professional, with a minimum 2 years standing. You should be 60 years of age or less.
3. A Pensioner of PSU/Govt. (Central/State)/Public Sector Bank who has taken premature voluntary retirement and is 60 years of age or less
4. Agent of insurance/KVP/Mutual funds etc. with 3-5 years standing who is a tax assesse and whose gross annual income exceeds Rs. 2 lacs.
5. A trader, who has cash flows to repay the loans and can provide suitable third party guarantee, you should restrict your banking requirements to the branch where the loan is proposed to be taken.
Salient Features
Loan Amount Your personal loan limit would be determined by your income and repayment capacity.
Minimum: Rs.24,000/-Maximum : 12 times Net Monthly Income for salaried individuals and pensioners and 1 year's net annual income in case of self employed professionals with the under noted ceilings.
For Salaried individuals and self employed professionals: Rs.2.5 lacs (Rs.5 lacs in New Delhi, Chennai, Bangalore, Hyderabad, Mumbai and Kolkata and can be further increased to Rs.10 lacs if the self-employed professional maintains a satisfactorily conducted account with our branch or the salary of individual is regularly credited to their account with our Bank)
For pensioners: Rs.1.5 lacs
For members of business community: Rs.3.0 lac or 1 year’s net annual profit during the preceding financial year, whichever is lower.
Documents Required
For existing bank customers
1. Copy of Passport (for overseas travellers)
2. Copies of Rail-tickets/Bus tickets/Air tickets and visas(for overseas travellers)
3. Copy of consolidated invoice containing ticket charges, insurance charges, other sundry charges, etc.
4. Passport size photograph
5. For salaried individuals Latest salary slip and Form 16, for Self-employed individuals and Professionals IT returns for the last two financial years.
6. Proof of Professional Qualification (for self employed professionals)
7. Copy of highest Professional degree held
For New Customer:
Important documents to be furnished while opening a Personal Loan Account:
· Proof of Identity
· Copy of Passport (for overseas travellers)
· Copies of Rail-tickets/Bus tickets/Air tickets and visas(for overseas travellers)
· Copy of consolidated invoice containing ticket charges, insurance charges, other sundry charges, etc.
· Passport size photograph
· For salaried individuals Latest salary slip and Form 16 for Self-employed individuals and Professionals IT returns for the last two financial years.
· Proof of Residential address, this can include home and establishment certificate/Lease deed/Telephone Bill.
· Proof of Professional Qualification (for self employed professionals)
· Copy of highest Professional degree heldProof of official address (for members of business community),this can include shop and establishment certificate/Lease deed/Telephone Bill.
Margin:
We do not insist on any margin amount.
Interest Rates: 3.25% above SBAR Floating i.e.17.00% p.a.
Repayment: The loan is repayable in a maximum of 48 EMI. You are allowed to pay more than the EMI if you wish to, without attracting any prepayment penalty.
Security: No security is needed except in the case of members of business community where suitable third party guarantee is required.
Medi Plus, Medical Loan, Treatment,
MEDI - PLUSFor spreading smiles and cheers on the faces of SBI customers…, SBI have launched a new loan scheme keeping specialized medical treatments in mind - a scheme that called Medi Plus!
Enjoy the SBI advantage :
Concessions in margin amounts, interest rates and processing charges!!
Lowest interest rates. Further, SBI charge interest on a daily reducing balance!!
Lowest processing charges; only 1% of loan amount -(compare with 1-3% of others.)
No hidden costs or administrative charges..
No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
Flexible repayment period.
The Scheme
The Specialised Medical Treatments, not only do the cost implications run into several lakhs of rupees, but more often than not, these liquid funds also need to be generated at a very short notice, in order to be able to make prompt hospital bill payments… With this in mind, Medi Plus is specially designed to make life simpler for you under what could well be trying circumstances.
You may avail of loans under the Medi Plus Scheme to cover the cost of treatments such as:
Corneal Implant
Orthodontic Treatment (fixed tooth implant)
Ilazirav Technique of lengthening a limb
Congenital heart surgery
Angioplasty
Heart Valve Replacement Surgery
GIFT (in-vitro technique for child bearing)
Serious Accidents and Multiple Injuries Surgery
Hip and Knee Replacement Surgery
Coronary Artery Bypass/ Graft Surgery
Cochlear Implants (surgical) for the hearing impaired
Onco-Surgery upto Grade I
Reconstructive Nose Surgery with Face Lifting
Penile Implant Surgery
Artificial Limb Prosthesis
Purpose
Loan for individuals to avail specialised expensive medical treatment e.g. coronary by-pass, Hip and Knee replacement surgery, cochlear implants(surgical) for the hearing impaired etc.
Eligibility
You qualify to avail of loans under this scheme, if you are:
1. An employee of the Government/ a reputed PSU/ a profit making public limited company, and if you have a minimum, 10 years of service
2. A self-employed professional
3. A pensioner, who has taken voluntary retirement and is not yet 60 years old
4. An agent of Insurance/ KVP/ Mutual Funds etc. with a minimum annual income of Rs.3 lakh
5. An employee/ a pensioner with a minimum income of Rs.10,000 per month or if you are a neither, a minimum income of Rs. 3 lakhs per annum.
Note : If the person being treated is a minor, the loan may be granted to a parent.
Loan Amount
The loan amounts range from a minimum of Rs.50,000/- to a maximum of 12 months NMI (when it concerns salaried individuals and pensioners) or a 1 year net annual income (when it comes to persons other than salaried individuals and pensioners), subject, to the following ceilings:
For Employees and Professionals : Rs.2.0 lacs
For Pensioners and Agents : Rs.1.0 lac
Once sanctioned,the loan is disbursed by the issuance of a draft/ banker's cheque, favouring the hospital, where the treatment is being undertaken or where it's proposed to be undertaken.
Margin
20% of the total cost of treatment.
Security
As per bank's extant instructions.
Repayment Period
You may comfortably repay your loan over a maximum - 60 Equated Monthly Installments.
Interest
0.75% above SBAR i.e.14.50% p.a.
Processing Fee (One time)
0.50% of the loan amount.
Documentation
Please contact the Bank for details.
Authorised branches
The Medi Plus Scheme is being offered at:
All computerized SBI branches in identified cities
All SBI branches, in metro/ urban centers, having "P" divisions
All SBI Personal Banking Branches
Processing Fee : 0.50% of the entire loan amount, If the applicant already maintain a regular Housing Loan Account with us the processing fee is waived.
List of Diseases
Corneal implant
Orthodontic treatment - fixed tooth implant
Ilazirav technique of lengthening a limb
Angioplasty
Congenital heart surgery
Heart Valve replacement surgery
GIFT - In-vitro technique for child bearing
Serious accidents and multiple injuries surgery
Coronary artery bypass graft surgery
Hip and knee replacement surgery
Cochlear implants (surgical) for the hearing impaired
Onco - surgery upto Grade I
Reconstructive nose surgery with facelifting
Penile implant surgery
Artificial limb prosthesis
Laser assisted hatching
Intra Cylasmic sperms injection
Wednesday, September 24, 2008
Rent Plus, Loan against Rental Income, Mortgage Loan, Corporate tie-up
RENT PLUS
Nature of facility : Term Loan
Period of repayment : 7 years or the residual lease period, whichever is lower.
Eligible customer : Owners of residential buildings and commercial properties in Rural/Semi-urban/Urban/Metro areas which are to be rented or already rented to MNCs/ Banks/ Large & medium size corporate.
Purpose : To meet liquidity mis-match of the applicants.
Quantum of finance : Min. Rs. 50,000.00Max. Rs. 5 crore for properties located at Non-Metro Centres and Rs. 7.50 crores for properties located at Metro Centres. There will be no differentiation on the basis of constitution of the applicant.
Prepayment : 1% of the loan amount prepaid.
Interest : 0.75% above SBAR. i.e.14.50% p.a. Floating.
Primary Security : Assignment of receivables and recording of power attorney with the lessee is a must.
i) First charge on buildings against the rentals of which the loan would be sanctioned (value of the property should be double the amount of loan) or any other acceptable property of equal value.
ii) Equitable Mortgage of immovable property by deposit of title deed.
iii) In case of partnership firm, personal guarantee of the partners of the building. In case of company personal guarantee of directors to be obtained.
Insurance : The amount of insurance should cover the value of assets charged to the Bank.
Applicability : Metro / Urban / Semi-urban/ Rural centers.
Processing charges and cost of valuation 1% of loan amount, subject to a maximum amount of Rs.50000/=, to be paid upfront as processing charges. The charges for valuation of the property are to be borne by the applicant.
Loan against Shares / Debentures, Market Price, 52 week High, Low
Loan for your Shares / Debentures
Do you need urgent cash but you don't wish to sell or liquidate your holding of shares?
Leverage your investments in shares, debentures, public sector bonds and Government securities for loans to meet unforeseen expenses!! You need not miss out on the next stock market boom!!
Avail of loans up to Rs.20.00 lacs against your shares/debentures to enable you to meet contingencies, personal needs or even for subscribing to rights or new issue of shares.
Note: Loan will not be sanctioned for speculative purposes inter-corporate investments or
acquiring controlling interest in company/companies.
Enjoy the SBI advantage
Low interest rates. Further, SBI charge interest on a daily reducing balance!!
Low processing charges; only 1% of loan amount - compare with 1-3% of others.
No hidden costs or administrative charges..
No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
The Scheme
Eligibility This facility is available to SBI's existing individual customers enjoying a strong relationship with SBI. This loan could be availed either singly or as a joint account with spouse in 'Either or Survivor'/ 'Former or Survivor' mode. It is offered as an Overdraft or Demand Loan. The facility is available at 50 select centers.
Salient Features
Purpose
For meeting contingencies and needs of personal nature. Loan will be permitted for subscribing to rights or new issue of shares / debentures against the security of existing shares / debentures.
Do you need urgent cash but you don't wish to sell or liquidate your holding of shares?
Leverage your investments in shares, debentures, public sector bonds and Government securities for loans to meet unforeseen expenses!! You need not miss out on the next stock market boom!!
Avail of loans up to Rs.20.00 lacs against your shares/debentures to enable you to meet contingencies, personal needs or even for subscribing to rights or new issue of shares.
Note: Loan will not be sanctioned for speculative purposes inter-corporate investments or
acquiring controlling interest in company/companies.
Enjoy the SBI advantage
Low interest rates. Further, SBI charge interest on a daily reducing balance!!
Low processing charges; only 1% of loan amount - compare with 1-3% of others.
No hidden costs or administrative charges..
No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
The Scheme
Eligibility This facility is available to SBI's existing individual customers enjoying a strong relationship with SBI. This loan could be availed either singly or as a joint account with spouse in 'Either or Survivor'/ 'Former or Survivor' mode. It is offered as an Overdraft or Demand Loan. The facility is available at 50 select centers.
Salient Features
Purpose
For meeting contingencies and needs of personal nature. Loan will be permitted for subscribing to rights or new issue of shares / debentures against the security of existing shares / debentures.
Loan will not be sanctioned for (i) speculative purposes (ii) inter-corporate investments or
(iii) acquiring controlling interest in company / companies.
Loan Amount You can avail of loans up to Rs 20.00 lacs against your shares/debentures.
Documents Required You will be required to submit a declaration indicating :
Details of loans availed from other banks/ branches for acquiring shares/ debentures.
Details of loans availed from other banks/ branches against security of shares/ debentures
Margin
You will need to provide a margin amount of 50% of the prevailing market prices of the shares/ non-convertible debentures being offered as security. (The market prices refer to the prices in the Stock Exchanges as reported in the Economic Times.)
Interest At SBAR Floating i.e. 13.75% p.a.
Repayment Schedule To be liquidated in maximum period of 30 months through a suitable reducing DP programme. In case of a default or if the outstanding is over Rs.20.00 lacs, the shares/debentures will be transferred in the name of the Bank.
Security: Pledge of the demat shares/debentures against which overdraft is granted.
Please contact the Branches at Identified Centres
List Of Identified Centres
1. Ahmedabad , Baroda , Surat , Gandhinagar , Rajkot
2. Bangalore , Mysore
3. Bhopal , Indore , Jabalpur , Raipur , Gwalior
4. Bhubaneswar , Cuttack , Sambalpur
5. Chandigarh , Jallandhar , Ludhiana , Amritsar
6. Chennai , Coimbatore , Tirupur
7. Guwahati , Shillong
8. Hyderabad , Visakhapatnam , Karimnagar , Tirupati
9. Kolkatta , Siliguri , Asansol (Bardhamon)
10 . Lucknow , Varanasi , Kanpur , Allahabad
11. Mumbai , Pune , Panjim , Aurangabad , Nagpur
12. New Delhi , Jaipur , Agra , Udaipur
13. Patna , Ranchi , Bhagalpur
14. Thiruvananthapuram , Cochin
CoverageScheme is available at select branches at 50 centres.Essential Parameters for acceptance of shares as security (i) The equity shares and debentures offered as security should be fully paid. Preference shares will not be acceptable as security (ii) The shares/ debentures offered as security must be in demat form. (iii) The share/ debenture should be of a company listed in BSE 100 Index, except those of SBI (iv) The market price of the security should not have fallen below par for preceding 52 weeks. (v) The market price of the security should not be as variance with the arithmetical average of preceding 52 weeks high and low by more than 25% in downward direction. (vi) ( P/E ratio of the company should not exceed 40 as published in Economic Times. In case P/E ratio is not available the shares/ debentures of the company should not be accepted as security. (vii) The total number of shares of the company traded on NSE and BSE should exceed 25000 on the day of financing and on each preceding 2 days. (viii) Security where the market price 52 week high is 4 times of the 52 week low should not be accepted. (Information related to 52 weeks high and low, P/E ratio and traded volumes in NSE and BSE is available in Economic Times).
Rating Debentures must have been rated 'AA+' or higher by CRISIL or equivalent rating by any other reputed rating agency like ICRA etc.
RepaymentTo be liquidated in maximum period of 30 months through a suitable reducing DP programme.
Declaration The applicant will have to submit a declaration indicating:·
details of loans availed of by them from other banks/ branches for acquiring shares/ debentures
details of loans availed from other banks/ branches against security of shares/ debentures
Transfer of shares Shares/debentures will be transferred in the name of the Bank when there is a default and the outstanding is over Rs.20 lacs.
Documentation
Application for overdraft limit against security of shares/ debentures indicating details of shares (i.e. ISIN of the company whose shares/ debenture are offered as security, number of shares/ debenture offered as security) along with borrowers DP ID and DP account number.
Applicant has to submit consent letter agreeing to regularize the account/ replenish the margin shortfall, on account of adverse market price variation, immediately on receipt of notice from the branch. Applicant will also submit consent to the condition that in the event of his failure to regularize the account immediately, Bank has the right to get the security transferred in its name and arrange for its sale, without any further reference to him. The Bank shall exercise this option without prejudice to its rights to recover the dues by other means also.
DP Note and DP Delivery letter.
Irrevocable Letter of Undertaking addressed to the Bank signed by all holders of the shares.
Dividend collection mandate(s).
Either or Survivorship Letter(if applicable). Security Pledge of the demat shares/ debentures against which overdraft is granted.
Nature of loan Is Overdraft / Demand Loan with the Repayment programme maximum 30 months.
Loan Amount You can avail of loans up to Rs 20.00 lacs against your shares/debentures.
Documents Required You will be required to submit a declaration indicating :
Details of loans availed from other banks/ branches for acquiring shares/ debentures.
Details of loans availed from other banks/ branches against security of shares/ debentures
Margin
You will need to provide a margin amount of 50% of the prevailing market prices of the shares/ non-convertible debentures being offered as security. (The market prices refer to the prices in the Stock Exchanges as reported in the Economic Times.)
Interest At SBAR Floating i.e. 13.75% p.a.
Repayment Schedule To be liquidated in maximum period of 30 months through a suitable reducing DP programme. In case of a default or if the outstanding is over Rs.20.00 lacs, the shares/debentures will be transferred in the name of the Bank.
Security: Pledge of the demat shares/debentures against which overdraft is granted.
Please contact the Branches at Identified Centres
List Of Identified Centres
1. Ahmedabad , Baroda , Surat , Gandhinagar , Rajkot
2. Bangalore , Mysore
3. Bhopal , Indore , Jabalpur , Raipur , Gwalior
4. Bhubaneswar , Cuttack , Sambalpur
5. Chandigarh , Jallandhar , Ludhiana , Amritsar
6. Chennai , Coimbatore , Tirupur
7. Guwahati , Shillong
8. Hyderabad , Visakhapatnam , Karimnagar , Tirupati
9. Kolkatta , Siliguri , Asansol (Bardhamon)
10 . Lucknow , Varanasi , Kanpur , Allahabad
11. Mumbai , Pune , Panjim , Aurangabad , Nagpur
12. New Delhi , Jaipur , Agra , Udaipur
13. Patna , Ranchi , Bhagalpur
14. Thiruvananthapuram , Cochin
CoverageScheme is available at select branches at 50 centres.Essential Parameters for acceptance of shares as security (i) The equity shares and debentures offered as security should be fully paid. Preference shares will not be acceptable as security (ii) The shares/ debentures offered as security must be in demat form. (iii) The share/ debenture should be of a company listed in BSE 100 Index, except those of SBI (iv) The market price of the security should not have fallen below par for preceding 52 weeks. (v) The market price of the security should not be as variance with the arithmetical average of preceding 52 weeks high and low by more than 25% in downward direction. (vi) ( P/E ratio of the company should not exceed 40 as published in Economic Times. In case P/E ratio is not available the shares/ debentures of the company should not be accepted as security. (vii) The total number of shares of the company traded on NSE and BSE should exceed 25000 on the day of financing and on each preceding 2 days. (viii) Security where the market price 52 week high is 4 times of the 52 week low should not be accepted. (Information related to 52 weeks high and low, P/E ratio and traded volumes in NSE and BSE is available in Economic Times).
Rating Debentures must have been rated 'AA+' or higher by CRISIL or equivalent rating by any other reputed rating agency like ICRA etc.
RepaymentTo be liquidated in maximum period of 30 months through a suitable reducing DP programme.
Declaration The applicant will have to submit a declaration indicating:·
details of loans availed of by them from other banks/ branches for acquiring shares/ debentures
details of loans availed from other banks/ branches against security of shares/ debentures
Transfer of shares Shares/debentures will be transferred in the name of the Bank when there is a default and the outstanding is over Rs.20 lacs.
Documentation
Application for overdraft limit against security of shares/ debentures indicating details of shares (i.e. ISIN of the company whose shares/ debenture are offered as security, number of shares/ debenture offered as security) along with borrowers DP ID and DP account number.
Applicant has to submit consent letter agreeing to regularize the account/ replenish the margin shortfall, on account of adverse market price variation, immediately on receipt of notice from the branch. Applicant will also submit consent to the condition that in the event of his failure to regularize the account immediately, Bank has the right to get the security transferred in its name and arrange for its sale, without any further reference to him. The Bank shall exercise this option without prejudice to its rights to recover the dues by other means also.
DP Note and DP Delivery letter.
Irrevocable Letter of Undertaking addressed to the Bank signed by all holders of the shares.
Dividend collection mandate(s).
Either or Survivorship Letter(if applicable). Security Pledge of the demat shares/ debentures against which overdraft is granted.
Nature of loan Is Overdraft / Demand Loan with the Repayment programme maximum 30 months.
SBI PENSIONERS LOAN, 72 YEARS, RETIRED, STATE, CENTRAL GOVT
SBI PENSIONER LOAN
If you are a Central or State Government pensioner drawing your pension through one of SBI branches and are not more than 72 years of age, you can avail of a loan from SBI branch to meet your personal expenses. SBI understand you may have an urgent or unexpected need for funds or a family obligation to be fulfilled and appreciate your association with SBI.
You can avail a loan of up to a maximum of 12 months pension, subject to a ceiling of Rs.1,00,000. The documentation is easy.
The loan may be repaid over 5 years and will carry a low interest rate of 13.25% p.a.
There are no processing fees, no hidden costs and no prepayment penalties. Whenever you have some surplus funds, you can credit your loan account, thereby reducing your loan liability and interest burden.
Salient features of the Scheme:
The loan may be repaid over 5 years and will carry a low interest rate of 13.25% p.a.
There are no processing fees, no hidden costs and no prepayment penalties. Whenever you have some surplus funds, you can credit your loan account, thereby reducing your loan liability and interest burden.
Salient features of the Scheme:
Eligibility:
All Central and State Government pensioners, whose pension accounts are maintained at any of SBI branches. The pensioner should not be more than 72 years of age.
All Central and State Government pensioners, whose pension accounts are maintained at any of SBI branches. The pensioner should not be more than 72 years of age.
To meet personal expenses .
A maximum of 12 months pension with a ceiling of Rs.1,00,000/-
Security :
The spouse eligible for family pension should guarantee the loan or any other family member or a third party worth the loan amount.
Repayment 60 Equated Monthly Instalments (EMIs) – if age of Pensioner at the time of loan sanction is upto 70 years
48 Equated Monthly Instalments (EMIs) – if age of Pensioner at the time of sanction is between 70 – 72 years
The spouse eligible for family pension should guarantee the loan or any other family member or a third party worth the loan amount.
Repayment 60 Equated Monthly Instalments (EMIs) – if age of Pensioner at the time of loan sanction is upto 70 years
48 Equated Monthly Instalments (EMIs) – if age of Pensioner at the time of sanction is between 70 – 72 years
Authorised Branches : All branches maintaining pension accounts. The facility is available only from the branch which is maintaining pension account of the applicant.
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