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09 Sep 2010

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Product

Savings Account – Way of saving for the future

Description

To provide customers with an account whereby they can save/withdraw money at their convenience.

Features

• Normal Savings Interest Rate applies • Minimum Interest Earning Balance: Rs3,000 • Debit Card • Payment of Standing Orders • Utility payments through direct debit • Account may be opened in joint names • Sweep In/Out facilities (cross ref: Current a/c Product Sheet) • Funds transfer to any other SBM account

Benefits

• Can earn interest on full balance as from Rs3,000 • Can be used to carry out transactions like withdrawals, deposits, etc. at any time, 7days/ 24hrs • Flexibility and Hassle Free • The same account may be operated by more than one person • Automatic transfer of funds into the account or another account in case of lack of funds for clearance of cheques • Can enjoy the services of SBMNet/Mobile Banking e.g Funds transfer, balance inquiry, etc.

FAQs

• At what frequency is interest paid?
Interest is credited half-yearly, i.e. in June and December. Interest is calculated on a daily basis.

• How do I obtain a record of my account transactions?
You'll be sent a statement free of charge on a quarterly basis; it covers all transactions for the past 3 months.You may also get a mini statement through any SBM ATM.

For more information please call our hotline on 207 0111
(during weekdays from 08:00 hrs to 18:00 hrs)

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