General information
on deposits


Deposit schemes (in INR)
At SBT, we have a number of deposit plans to suit your convenience and specific requirements. To choose the  deposit product right for you, click on Deposit Planner.

Savings bank
Current Accounts
Recurring Deposits
Time or Fixed Deposits

For deposits in Foreign currencies  click here

To open an account contact any of our branches

Interest Rates 


Savings Bank Accounts  Savings Bank Account Rules   

  • Best suited for all classes of persons. 
  • Running account.
  • Cheques, Drafts, Interest Warrants, Dividend warrants etc.., in Indian rupees and foreign currencies in the personal names of the depositors can be collected and credited to these accounts.
  • Liberal withdrawal facilities.
  • No Income Tax deduction at source on interest.
  • Standing instructions for remittances of insurance premium, rent and similar payments carried out.
  • Minors above 10 years can open and operate the account.
  • Nomination facility is available
  • Internet Banking/ATM/Mobile Banking Facilities are available


Current Accounts

  • Running account with unlimited operational facilities.
  • Minimum balance to be maintained is Rs. 3000/- for rural branches and Rs.5000/- for others.
  • Monthly statement of accounts made available.
  • Standing instructions for remittances of insurance premium, rent and similar payments carried out.
  • Internet Banking Facility is available



Term Deposit Accounts

  • Deposits for periods of 7 days to 120 months.          ***
  • Minimum deposit is Rs.1000/- and multiples Rs.100/-.
  • Interest normally paid quarterly, half yearly, or yearly. Monthly payment can be had at discounted rates.
  • Loans are available upto 90% of the deposit, with interest 1% above the deposit rate.  
  • Minors above the age of 10 can deposit upto Rs.200000/- in their names independently.  
  • Premature withdrawal permitted with applicable penalty.
  • Ideal investment for earning regular quarterly income without disturbing principal, and with maximum liquidity and safety.
  • The deposit will be renewed on due date for the same period.
  • TDS is applicable, 15H/15G to be submitted for exemption.

    *** Conditions Apply   


SBT Reinvestment Plan(Special Term Deposits)

  • Term Deposit accounts with automatic reinvestment of the accrued interest at quarterly compounding till maturity of the principal. No interim withdrawal of interest and therefore investment multiplies.
  • Loans upto 90%, with interest 1% above the deposit rates. 
  • Existing term deposit accounts can freely be converted to Special term deposit accounts and vice versa.
  • Minors above the age of 10 can deposit upto Rs.2,00,000/- in their names independently.
  • Ideal for maximum returns, long term investment with safety and liquidity.
  • Premature withdrawal permitted with applicable penalty.
  • TDS is applicable, 15H/15G to be submitted for exemption.


Unit Deposit Scheme

  • Amount deposited is held in units of Rs.1000/- each. 
  • Accounts can be opened with Rs.10,000/- and thereafter in multiples of Rs.1000/-. 
  • The salient feature of the scheme is that it allows the depositor to withdraw the deposit partially in multiplies of Rs.1000/- without breaking his entire deposit. 
  • It can be opened as either Term Deposit or Special Term deposit accounts and interest payments are as applicable to those schemes.
  • Loans, Premature withdrawal and Nomination facilities are available.


Recurring Deposit Accounts

  • Recurring deposit for periods ranging from 12 to 120 months with fixed monthly remittances. 
  • No Income tax deducted at source. Premature withdrawal is permitted. 
  • Minors above 10 years can open accounts in their name independently subject to the maturity value not exceeding Rs.2,00,000/-.
  • Ideal for persons who can set apart a portion of their monthly earnings especially regular monthly income earners; Traders, pensioners etc. An easy way to save money.
  • Loans, Premature withdrawal and Nomination facilities are available.
  • Penalty is applicable for delayed remittance.


Variable Deposit Scheme (Super Surplus)

  • Recurring deposit scheme for a period of 12 months to 120 months, offers flexibility in the amount of monthly remittance.
  • Depositor can fix their core monthly installment from Rs.100 to Rs.10000/p.m.
  • Depositor can vary the monthly installments and can deposit upto 10 times the agreed core amount subject to maximum of Rs.100000/ per month.
  • One remittance per month. No insistence on regular monthly payment.
  • Interest credited to the account half yearly.
  • Minors over 10 years can open in their name singly provided the maturity value does not exceed Rs.2,00,000/-.
  • No penalty for delayed remittance but if the number of remittance is less than 10 per year Rs.10/- will be levied as penalty.
  • Ideal for persons whose monthly savings vary from month to month and for those seeking flexibility in remittances.
  • Loans, Premature withdrawal and Nomination facilities are available.


General Information on deposits

Opening and operation

  • Any resident Indian in India can open accounts in single name or in joint names with different options, for final disposal.
  • Photograph and KYC Compliance
  • Nomination facility is available
  • Transfer of accounts from one branch to another branch is possible. 
  • Safe Custody and automatic renewal of deposits are undertaken  
  • A unique loan scheme, Cash key is available against all types of term deposits.

Premature Withdrawal

  • A deposit can be prematurely closed if desired. Premature withdrawal of term deposits permitted, but no interest will be paid for deposits which have remained with the bank for a period less than 15 days. For all others,interest may be paid 1% below  the rate applicable for the period for which the deposit has actually remained with the Bank.

  • Deposit can be prematurely closed with the consent of all joint depositors, except in the case of deposits opened with the clause, 'Former or Survivor', 'Latter or Survivor', or 'A' only or Survivor where the specified person can prematurely close the account

Closure Of Accounts

  • When the account is closed the amount is paid by cash or credited to the account of the depositor. Repayment of deposits with maturity value above Rs.20,000/- shall be made by credit to an account or by an account payee cheque (as per law).
  • Savings bank accounts/Current accounts in joint names, can be closed on joint request.


For details contact our branch nearest to you or email to