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.
5 comments:
On 01-May-2013 From my account balance 1,90,000 has been credited to Autosweep, and on 01-Sep-2013 1,45,000 credited to sweep for 1 yr with 9% interest rate.
Suppose if i withdraw an amount of 1,60,000 on 01-Mar-2014 from which sweep account majority amount will be deducted and what will be the intrest rate bank will give to that sweep account
By default settings majority amount will be deducted from your later sweep i.e from 01-Sep'13. This is called "Last-in-first-out" but you can also go for "First-in-first-out" and inform ur branch. And the interest rate will be calculated on per month basis as u have not completed the 1 year tenure with the recent sweep. Hope I made the explanation clear.
Can i know how much we can put the amount in premium savings acc and also what all documents we need to give?is their online facility available
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