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[ Print Version ]
 Savings Account - Way of saving for the future
 
Description
 

Our Savings Account is an effective way for you to grow your money. You will earn interest on your daily credit balance. You can also withdraw money at your convenience and benefit from many other advantages.

 
 Features
 
  • Earn interest on your savings
  • Minimum Interest Earning Balance: Rs 3,000
  • Debit Card
  • Payment of Standing Orders
  • Utility bill payments through direct debit
  • Sweep In/Out facilities (cross ref: Current account Product Sheet)
 
 Benefits
 
  • Earn interest on full balance as from Rs 3,000
  • 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
  • Free Internet Banking – SBMNet e.g. Funds transfer
  • Mobile Banking e.g. balance enquiry
  • SMS TopUp
 
 Eligibility Criteria
 
  • Individuals aged 18 years and above
  • Minimum opening balance of Rs 3,000
 
 Documents Required
 
  • National Identity Card / Passport / Birth certificate
  • Latest utility bill
 
 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 and payable half-yearly

  • How do I obtain a record of my account transactions?

You will be sent a statement free of charge on a quarterly basis; it covers all transactions for the past 3 months. You may also request a mini statement through any SBM ATM.

 
   
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