Terms and Conditions Of State Bank Of India

Hi I want to open saving account in State Bank Of India . Will you please provide the information regarding the terms and conditions to open a saving account in State Bank Of India ?

[Kiran Chandar]

Following are the terms and conditions to open a saving account in State Bank Of India which you are looking for .

i. Savings Bank Accounts (SB A/cs) helps the customers keep their surplus funds with the bank

ii. SB A/cs can be opened by an eligible individual in single name or jointly with others and by certain organisations/agencies approved by RBI.

iii. The customer identification will be on the basis of documents provided by the customer as (a) Proof of identity and (b) Proof of address.

iv. The customer will need to comply with the Know Your Customer guidelines which are mandatory.

The customer has to submit the prescribed application form along with Photographs all cases.

(a) Proof of identity (any of the following with authenticated photographs thereon):

(i) Voter ID card (ii) Passport. (iii) PAN Card (iv) Govt./Defence ID card (v) ID cards of reputed employers (vi) Driving Licence

(b) Proof of current address (any of the following)

(i) Electricity Bill (ii) Salary slip (iii) Income/Wealth Tax Assessment Order (iv) Credit Card Statement (v) Telephone Bill (vi) Bank account statement (vii) Letter from reputed employer (viii) Letter from any recognized public authority (ix) Ration Card
v. In case of joint accounts, customer who are not closely related to each other would be required to establish their identity and address independently.

vi. No frills Account

vii. The applicant(s) will need to come to the branch, in person, for opening the account and will sign at the relevant places in the presence of a Bank Official.

viii. The Bank is required to obtain PAN of the customer or declaration in Form No. 60 or 61 as per the I.T. Act (vide Section 39A) from the person opening the account.

ix. A passbook is issued in all Savings Bank Accounts. Passbooks are immediately updated across the counter on request.

Cheque books are issued on request. 25 cheque leaves are issued free in a year.

xi. Service charges are applicable for cheques returned unpaid.

x. Standing Instructions (S.I.) are accepted in SB A/cs. Service charges apply.

xvi. No minimum balance required to be maintained in a Savings Bank account

I would like to know the various terms & conditions laid down by State bank of India for Special Term Deposit scheme?

[Raman Vij]

Please find the various terms & conditions laid down by State bank of India for Special Term Deposit scheme

SPECIAL TERM DEPOSIT ACCOUNT SCHEME:

i. Special Term Deposit i.e. STD Account can be opened in a similar way as the Term Deposit Account. The interest on the STD Account is compounded at periodical intervals and principal and interest are paid on maturity.

ii. Lowest amount and utmost period of deposit may be 7 days and 120 months respectively. Minimum and utmost periods are subject to change.

iii. bare minimum amount of deposit is Rs.1,000/- and subsequently, in multiple of Rs.100/-.

iv. Loan up to Ninety percent of principal and accrued interest is available against Special Term Deposit.

v. Other terms and conditions are similar as in case of Term Deposit Account.

vi. The Bank provides other variants of fixed deposits like recurring deposit accounts etc. Further particulars can be had from the branch where you wish to open the account.

Contact Details:

State bank of India
RAHEJA CHAMBERS
FREE PRESS JOURNAL MARG
NARIMAN POINT,
City: MUMBAI
PIN Code: 400021
Phone Number: 22043237
Fax Number: 22049830
Email ID: sbi.01593@sbi.co.in