Deposit Schemes

 

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  • 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.
  • To open an account contact any of our branches

 

Fixed Deposits
 
 
 
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 7 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.
 
Savings Bank Accounts
 
Savings Bank Account Rules
Savings Bank -Minimum Balance Guidelines
  • 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.
 
Recurring Deposit Accounts
  • Recurring deposit for periods ranging from 12 to 120 months with fixed monthly remittances. 
  • 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.
  • TDS is applicable, 15H/15G and PAN  to be submitted.
 
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.
  • TDS is applicable, 15H/15G and PAN  to be submitted.
Basic Savings Bank Deposit
 
Name of the Scheme

BSBD Small Account

Basic Savings Bank Account

KYC Compliance

Simplified KYC

Full KYC Compliance

Eligibility

Individuals of 18 Years and above. Students aged above 10 years who have adhere to uniform signature for credit of scholarship amounts

Individuals of 18 years and above  Students aged above 10 years who can adhere to uniform signature for credit of scholarship amounts.(FullKYC Complaint account only to be opened.

 

Availability

All Branches

All Branches

No of Deposits in a month

No Limit

No Limit

No of Cash withdrawals in a month

Four including withdrawals through ATM in a Month.

Four including withdrawals through ATM in a Month

 

No of other withdrawals

No limit to transfer withdrawals

No limit to transfer withdrawals

Charges and cash withdrawals beyond the limit

Rs 5/- per withdrawal over and above four cash withdrawal in a month

Rs 5/- per withdrawal over and above four cash withdrawal in a month

Issue of ATM Card

Yes at Free of cost

Yes at Free of cost

Issue of Cheque book facility

No cheque book facility

No cheque book facility`

Aggregate Credit in the account

Rs 1.00 lac in a financial year

No such restriction

Maximum withdrawal per month

Rs 50,000/-

No restriction

Rate of Interest

As applicable to Savings Bank

As applicable to Savings Bank

Nomination

As applicable to Deposit Account

As applicable to Deposit Account

Pass book

To be issued

To be issued

Foreign Inward remittances

Not Permitted

No such restriction

Internet Banking

Not permitted

Permitted & available

Collections

Not permitted

Allowed

Standing Instructions

Not permitted

Allowed

Nature of account facility

The system should stop on account after 12 months/24months from the date of opening.

The account is a continuous account

Charges

No charges for non operation/ activation of inoperative accounts

No charges for non operation/ activation of inoperative accounts

 

Savings Plus
 
Product Name Savings Plus
'Must Say' points
  1. Savings Bank account opened singly or jointly with either or survivor facility.
  2. Minimum balance Rs 5000/-
  3. Excess over the threshold limit of Rs 5000/-, in multiples of Rs 1000 with a minimum of Rs 10000 will automatically be converted into a Special Term Deposit by default for a minimum period of 12 months or term above 12 months if prescribed by depositor. 
  4. Minimum period is 12 months and the customers may decide maximum. The customers can draw the deposits conveniently for any debit transactions such as cash withdrawals by cheques/withdrawal forms, transfers through debit vouchers, ATM withdrawals, Internet Banking transactions, Standing Instructions.
Salient features of the deposit scheme
  • Savings Bank acccount opened singly or jointly with either or survivor facility. 
  • Minimum balance of Rs 5000
  • The excess over the threshold limit of Rs 5000 in multiples of Rs 1000 with a minimum of Rs 10000 will automatically be converted into a special Term Deposit by default for a minimum period of 12 months.
  • The depositor may prescribe maurity periods above 12 months if he so desires.The customer can draw the deposits conveniently for any debit transactions such as cash withdrawals by cheques/withdrawal forms, transfers through debit vouchers, ATM withdrawals, Internet Banking transactions, Standing Instructions.
  • The customer may specify the option to break the deposit from which the withdrawal is to be made, based on the principle of LIFO or FIFO.

 

Periodicity of auto sweep
The autosweep facility would be operative at intervals as below, based on the balance in savings component.
Once a week, on any chosen day, eg Monday or Tuesday etc as at the end of the day 
        OR
Once a month on any chosen date eg: 1st or 2nd etc as at the end of the date.
Rate of Interest
  • Savings portion: As applicable to other Savings Deposits.
  • STD Portion: As per the published interest rates for STDs for the various maturities on the date of creation.
Nomination

  Will be available.

 
 
Prathibha Savings Deposit Scheme
 
Type SB account
Eligibility Women aged 18 years and above
Single/Joint
  • Single or joint account may be permitted.
  • Principal account holder should be a female.
Minimum Balance Rs. 250.00
Maximum Balance No limit
Other facilities
  • One cheque book free per year Free ATM Card.
  • Annual Maintenance Fee applicable.
  • Internet Banking with transaction facility
Facility for opening Recurring Deposits Standing Instruction facility may be used for monthly remittance towards Recurring Deposit scheme.
Other conditions
  • No. of transactions in the account may be restricted to 4 per month excluding ATM transactions to avoid misuse of the account.
  • All other terms and conditions as per SB rules, Uni-Suraksha on payment.
KYC To be complied with.

 

Little Star Savings Deposit
 
Product Name SBT Little Star Savings Deposit
Eligible Applicants
  1. A minor of any age upto 18 years through his/ her natural or legally appointed guardian can open the account. Natural guardian can be either father or mother.
  2. A minor with an age of 10 years and above can open the account in his own name.
Basic nature of deposit Savings bank deposit for children targeting 1-18 years
KYC norms To be complied with
Mode of operation
  • The account will be opened in the name of the minor child represented by the natural guardian (father or mother) upto the age of 10 years.
  • From 10 years and above, the account may be independently operated by the child.
  • In case of accounts opened in the name of minor represented by legally appointed guardian, the operations in the account by the legally appointed guardian till such time the minor attains majority ( 21 years in such cases)
  • Joint Account allowed with parent
Initial Deposit for opening the account Rs.250/-
Minimum Balance to be maintained in the account No Minimum Balance in the account.
Maximum permitted balance in the account

Rs. 2.00 lacs for the children of 10 years and above upto 18 years if opened in their sole name.

If the account is opened in the name of the children represented by parents the maximum balance allowed in the account is Rs.20.00 lacs.

If the account is opened as joint account in the name of the children and parent – no limit.

Rate of interest As applicable for Savings Bank, presently 4% p.a
No: of credits allowed in the account No limit
Migration of Account On attaining 18 years of age, the account holder has to submit the full KYC to the Bank.
  • Confirmation of the balance in his/ her account.
  • Fresh specimen signatures
  • Latest photograph
  • Copy of PAN Card or Form 60/61(whichever is applicable)
  • Proof of date of birth, ID and address
  • A request to permit operation in the account as a major account (As per Annexure B)
Cheque book facility Cheque book may be issued, provided the minor account is not overdrawn and always remains in credit. The account holder should be able to sign uniformly all the time. However, cheque book to be issued only to those children of the age of 10 years and above.
ATM cum Debit Card ATM cum Debit card may be issued to children of age 10 years and above, free of cost. However annual maintenance charges to be recovered. Duplicate card may be issued ,at cost.
Internet banking Internet banking will be provided to children of 15 years with right to view only. Transaction rights will be provided when the child attains 18 years.
Transactions available free of charges Deposit and withdrawal of cash at Branches is free. Withdrawal of Cash at State Bank Group ATMs – free. Receipt/ Credit of amounts through electronic payment channels by the State/ Central Govt.- free.
Collection of cheques Allowed with normal charges; however the cheques should be drawn by Central/ State Govt. or their agencies or prepaid instruments.
Instant credit of cheques Allowed only for cheques drawn by Central/ State Govt/ Departments.
Demand Drafts Remittances for all sorts of fees including examination fees at free of charges, if routed through the deposit account.
Nomination facility
  • Upto 10 years: The parent / guardian representing the minor can indicate nominee for the account.
  • 10 years to 18 years: In case of accounts in the sole name of the minor, the nomination shall be made by a person lawfully entitled to act on behalf of the minor (i.e parent or guardian)
Pass book Available
Standing Instructions Allowed for transfer of amount to Twinkle Recurring Deposit account or any such savings accounts.

 

SBT SAPTHATHI
 
Segment All segments
Eligibility Resident/Non-Resident Individuals (Domestic,NRI/ NRO)
Type of deposit Special Term Deposit
Period of Deposit 70 weeks (490 days)
Principal amount
  • Minimum: Rs.7,000/- (in multiples of Rs.7,000/- thereafter)
  • Maximum: Rs.70,000/-
Rate of Interest
Category Rate of Interest(% p.a)
Public 8.00
Senior citizen 8.25
Staff 9.00
Senior citizen Staff 9.25
Effective Date Limited period: 11th September 2015 to 17th September 2015 ( for 7 days)
Scheme available All Branches of the Bank
Loan Facility Available in the form of Demand Loan /Overdraft facility as per the extant guidelines.
Premature Withdrawal
  • No interest will be paid, if the premature payment withdrawal takes place within 7 days. If the premature withdrawal of domestic deposits is made after 7 days, interest will be paid at 1% below the applicable rate of interest for the period, the deposit remained with the Bank. (Applicable rate is the rate of interest for the period prevailing on the date of deposit, ie; normal card rate ).The special rate is available only when the deposit runs up to 490 days.
  • In respect of Deposits from Non- Resident Indians under NRE Scheme, no interest will be paid if premature withdrawal is made within one year. Thereafter the premature payment will be made as detailed in para(i) above.
Additional features
  • Nomination facility available in single/ joint deposits.
  • The product is available for opening online also.
  • The deposit will not have an auto-renewal facility . Branches have to send the notice to the depositor/s, 15 days before the maturity of the deposit, for renewal.
  • Overdue deposit has to be manually paid back/ renewed as per the products available at the time of maturity.
 
Anupama Deposit Scheme
 
Segment All segments ( INCLUDING NRIs)
Eligibility Full KYC compliance is must.
Target Group Individuals, firms, corporates and NRIs
Mode of operation Single or Jointly for individuals; for others as per the extant guidelines
Rate Of Interest
 
Rate of Interest (%p.a)
Resident Indians/ NRIs
8.75
Resident Senior Citizen
9.05
Senior citizen retired from SBT
10.05
Period of Deposit 1111 days
Type of account Term Deposit/ Special Term Deposit
Minimum Deposit Rs. 10000/- and in multiples of Rs. 1000 thereafter
Effective Date 7th April 2014 (The Bank reserves the right to withdraw / discontinue the deposit scheme at any point of time)
Scheme available All Branches of the Bank
Loan Facility Available in the form of Demand Loan or Overdraft facility as per the extant guidelines
Other conditions

1. If the premature withdrawal of domestic deposits is made after 7 days, interest will be paid at 1% below the applicable rate of interest for the period the deposit remained with the Bank.(Applicable rate is the rate of interest for the period prevailing on the date of deposit ).

2. In respect of Deposits from Non- Resident Indians under NRE Scheme, no interest will be paid if premature withdrawal is made within one year.

 
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

 
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.
 

SAPTHAMI 700 DAYS DEPOSIT SCHEME
 
Segment All segments
Eligibility Resident/Non-Resident Individuals, firms, Trusts, Corporates and Institutions.
Mode of Operation Single or Jointly
Period of Deposit 700 days
Rate of Interest
Category Rate of Interest(% p.a) Annualised Yield(%p.a)
Public 8.75 9.55
Senior Citizen* 9.05 9.89
* For Resident Citizen Only
Type of account Term Deposit/ Special Term Deposit
Minimum Deposit Rs.10,000/-
Effective Date 08/08/14
Scheme available All Branches of the Bank
Loan Facility Available in the form of Demand Loan /Overdraft facility as per the extant guidelines.
Premature Withdrawal No interest will be paid, if the premature payment withdrawal takes place within 7 days. . If the premature withdrawal of domestic deposits is made after 7 days, interest will be paid at 1% below the applicable rate of interest for the period the deposit remained with the Bank .(Applicable rate is the rate of interest for the period prevailing on the date of deposit In respect of Deposits from Non- Resident Indians under NRE Scheme, no interest will be paid if premature withdrawal is made within one year.
SUKOON DOMESTIC
 
Account Type Current Account
Depositor Public Individual, Senior Citizen, Staff, Staff Senior Citizen
Mode of Operation Singly/Jointly
Quarterly Average Balance (QAB) Rs.5,000/-
Cheque book One cheque book free. Second book onwards as applicable to Savings Account customers
Internet/ Mobile Banking Yes
ATM Card Yes
Insurance Free accident insurance (PMSBY) for the first year to the debit of Branch Charges Account (Insurance)
Non maintenance of QAB Rs.573/- per quarter. Charges to be collected pro-rata
Overdraft facility As per normal Current Account scheme
Cheque Return charges As applicable in case of individual customers
Penalty in case of closure of account within 12 months As applicable in case of individual customers
 
 
For details contact our branch nearest to you or email to
cmpsb@sbt.co.in