|
A distinct Term Deposit product for longer maturities
called “SBM DHANAVARSHA DEPOSIT “is
introduced by offering a higher rate of interest of 9.50%
p.a for maturities of above 3 years and upto 5 years
and 8.25% for maturities of above 5 years and upto 10
years.
The Scheme is extended
till 30.06.2007.
Highlights of SBM Dhanavarsha
Deposit Scheme
| Purpose |
To offer a distinct special term
deposit product for longer maturities and to increase
market share in deposits.
|
| Eligibility |
Residents, including minors
|
| Mode
of Holding |
Singly or Jointly or
( Either or Survivor) |
| Type
of account |
TDR/ Special Term Deposit
(STD) account. |
| Account
opening procedure |
As applicable to TDR
/ Special Term Deposit. |
| Period
of deposit |
Above 3 years and upto 10 years |
| Available
at |
All branches of the Bank. |
| Deposit
amount |
Minimum: Rs.10,000/-and in multiples
of Rs.1000/-
thereafter.
Maximum: No limit |
| Rate
of Interest |
Tenor |
Public |
Senior Citizen |
SBM Staff & SBM
Pensioners
(including senior citizen pensioners) |
| |
|
|
|
| Above 3 years and upto 5 years |
9.50 |
9.75 |
9.75 |
| |
|
|
|
| Above 5 years & upto 10 years |
8.25 |
8.75 |
9.00 |
|
| Others |
i) The rate applicable in case
of premature withdrawal of these deposits will be
1% below the rate applicable for period deposits
have remained with the Bank.
ii) Loans/Overdrafts as per applicable rules.
iii) Other terms and conditions such as KYC guidelines,
tax deduction at source, nomination facility, transferability
among branches, etc. as applicable to TDR/ Special
Term Deposit Accounts will apply. |
| Product
available from |
1st March 2007 |
| Product
Valid till |
30th June 2007 |
|
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