#1
30th November 2017, 04:24 PM
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State Bank of Hyderabad New Deposit Scheme
Can you provide me the details of the Savings Plus Account under Deposit Scheme offered by State Bank of Hyderabad, now merged with State Bank of India for its customers?
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#2
1st December 2017, 10:51 AM
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Re: State Bank of Hyderabad New Deposit Scheme
Savings Plus Account offered by State Bank of India is a Savings Bank Account linked to MODS, in which surplus finance above a threshold limit from the Savings Bank Account is transferred automatically to Term Deposits opened in multiples of Rs. 1000. Eligibility Any individual eligible to open Savings bank account Monthly Average Balance (MAB) requirement As applicable to the location of the branch: Metro Urban Semi-Urban Rural MAB Rs. 5000/- Rs. 3000/- Rs. 2000/- Rs. 1000/- One has to maintain MAB. The system does not break MOD to do so. Mode of Operation Single, joint or with either or Survivor, Former or Survivor, Anyone or Survivor, etc. facility Rate of Interest As applicable to Savings Bank Accounts Minimum threshold limit for transfer to MOD Rs 35,000/- Minimum amount of transfer to MOD Rs10,000/- in multiples of Rs 1,000/- at one instance. Choice of break open of TDRs One has to specify whether First in First Out or Last in First out principle should be applied for break opening of deposits. In absence of any mandate the last in First out principle is applied. Period of deposit 1-5 Years Facilities offered All facilities offered to savings bank account holders such as ATM card, mobile banking, Inter Net banking, SMS alerts are available in this account. Loan against MOD deposits Available Savings Plus Account under Deposit Scheme State Bank of India |