State Bank of Mysore

Trusted Service

Deposits

Welcome to State Bank of Mysore's Personal banking.
We meet your needs - of an investment of your surplus funds or to park your hard-earned money, you will find a product just right for you, delivered at a branch close to you.Open an account with any of our branches and realise the advantage of our vast network. Earn high interest on fixed deposits,putting your money to work for you with confidence and security.

Interest Rates-Domestic Deposits


New Deposit Schemes

Centenary Liquid Term Deposit

Mybank Suraksha Savings Account

Mybank Suraksha Savings Plus Account

Mybank Suraksha Time Deposit Account

Saral Savings Bank account (No Frills account)

SBM Tax Saver Scheme

Multi Option Deposit Scheme

Savings Bank account

Term Deposits

Reinvestment Deposits

Recurring Deposits

Harsha Deposit

Public Provident Fund Scheme

 


New Deposit Schemes
 

Centenary Liquid Term Deposit

 

1

Name of the Product

“CENTENARY LIQUID DEPOSIT

2

Purpose

To offer a distinct Term Deposit product to High Net Worth customers with higher rate of interest.

3

Segment

ALL SEGMENTS.

4

Eligibility

Resident & Non resident individuals, institutions, corporates and schools etc. excluding minors (without guardian)

5

Type of account

TERM DEPOSIT

6

Account opening procedure

As applicable to Term deposit.

7

Period of deposit

7 days to 179 days

8

Available at

At all Branches of the Bank.

9

Deposit amount

Minimum: Rs.1.00 crore. Maximum – Rs.50.00 crores.

10

Rate of Interest (With effect from 01.08.2014)

AMOUNT & PERIOD

RATE OF INTEREST

Rs.1.00 Crore upto Rs.50.00 Crores

7 days to 179 days

                          8.00

 

11

Others

i) No penalty for premature withdrawal, if held for more than 7 days. ii) No loans/overdraft.

 

12

Product available from

01.01. 2013.

 

Mybank Suraksha Savings Account

Name of the Product

Mybank Suraksha Savings Account

Eligibility

Individuals, excluding NRI customers

Mode of holding

Single or Jointly. In case of joint accounts insurance cover will be provided to first named person only.

Type of account

Savings Bank account

Minimum quarterly average balance

` 10,000/-

Rate of interest

As applicable to Savings Bank deposits.

Debit entries allowed free of charges

50 per half year.

Cheque leaves issued free of charges

25 leaves free in a year.

Insurance cover

An accidental death insurance cover for `2.00 lacs will be provided to the depositor free of cost. This benefit will be subject to yearly review.

Other conditions

All the other features of ordinary Savings Bank deposit i.e ATM, Internet, Moblile Banking etc. will be available for this product also.

 

Existing Savings Bank account holder can shift to Suraksha Savings account by giving an application.

 

Insurance cover/Claim settlement subject to conditions.

 

Penalty will be applicable for non maintenance of Quarterly balance.

Mybank Suraksha Savings Plus Account

Name of the Product

Mybank Suraksha Savings Plus Account

Eligibility

Individuals, excluding NRI customers

Mode of holding

Single or Jointly. In case of joint accounts insurance cover will be provided to first named person only.

Type of account

Savings Bank account

Minimum quarterly average balance

` 25,000/-

Rate of interest

As applicable to Savings Bank deposits.

Debit entries allowed free of charges

100 per half year.

Cheque leaves issued free of charges

25 leaves free in a year.

Multi City Cheques issued free of charges

25 leaves free in a year.

Insurance cover

An accidental death insurance cover for `5.00 lacs will be provided to the depositor free of cost. This benefit will be subject to yearly review

Other conditions

All the other features of ordinary Savings Bank deposit i.e ATM, Internet, Moblile Banking etc. will be available for this product also.

 

Existing Savings Bank account holder can shift to Suraksha Savings plus account by giving an application.

 

Insurance cover/Claim settlement subject to conditions.

 

Penalty will be applicable for non maintenance of Quarterly balance.

 

Mybank Suraksha Time Deposit Account

Name of the Product

Mybank Suraksha Time Deposit Account

Eligibility

Individuals, excluding NRI customers

Mode of holding

Single or Jointly. In case of joint accounts insurance cover will be provided to first named person only.

Type of account

TDR/STDR

Period of deposit

1 to 3 years

Amount of Deposit

Minimum : `  1,00,000/-.

Maximum: ` 99,99,999/-.

Rate of interest

Applicable Card rates.

Insurance cover

An accidental death insurance cover for `5.00 lacs will be provided to the depositor free of cost. This benefit will be subject to yearly review.

Others

All the other features of Time deposit i.e Nomination facility, Loan against deposit etc. is also available for this product.

 

Insurance cover/Claim settlement subject to conditions.

 

Penalty will be applicable for premature closure of deposit.

Saral Savings Bank account (No Frills account)


This account comes with very low minimum balances as well as low / nil charges, to cater to the needs of individual from the vast sections of population who are,otherwise, not fulfilling certain conditions of our existing Savings Bank requirements; Details are as under
Purpose
To enable the common man to open/ maintain bank account at no cost.
Eligibility
Individuals of 18 years and above.
Available at Presently in Rural Branches only.
Initial Deposit amount
Rs. 10/-
Minimum balance to be maintained Zero.
Minimum balance /amount If the value of business connection including interalia, the other liability products like Recurring Deposit or Term Deposit,exceed Rs. 10,000/- the account will be upgraded to normal SB account.
Rate of Interest As applicable to Savings Bank from time to time.
Operation of the account and applicable charges Cheque facility will not be extended on this account.
Withdrawals will be made through withdrawal forms.
Maximum 4 withdrawals per calendar month.
No restrictions on deposits in the account.
Account opening procedure Extant procedure for opening a SB account will be applicable.
Wheteher ATM card facility / standing instructions / overdraft facility is available? Not available.
Nomination As applicable to deposit accounts.
All other rules and regulations relating to SB accounts are applicable.

SBM Tax Saver Scheme << click for details

Tax saving scheme under Sec 80c of the IT act
A Bank Term Deposit Scheme 2006 has been introduced by the Central Government commencing from the financial year 2006-07 wherein time deposits made upto Rs.1.00 lakh for a period of 5 years are exempted from payment of Income tax under Sec 80C

Multi Option Deposit Scheme
A new deposit scheme combining the features of Current account, Savings Bank a/c, TDR or RID a/c. The product proposes to give liquidity to the depositor with high returns and convenience. It provides the depositor an automatic overdraft facility in Current a/c and automatic withdrawal of Term deposits in units through SB a/c. Depositor has to simultaneously open TDR / RID a/c for Rs.1000/-, SB a/c with balance Rs.500/- and Current a/c.

Savings Bank account
You can open an account with a deposit as low as Rs.500/-(Rs. 1000/- for chequebook facility and Rs.500/- without chequebook facility) and earn interest at 4% (w.e.f 03/05/2011) per annum.

Term Deposits
Invest a lumpsum amount for a specific period from 15 days upto 120 months and collect interest at monthly (discounted), quarterly, half- yearly or yearly intervals.

Reinvestment Deposits
Your investment and interest for the specified period will be paid together at the end of the term. It gives you the highest yield of interest on your savings taking care of your future needs like marriage, house construction, children’s higher education, etc., Period can be from 6 months upto 10 years.

Recurring Deposits
Save bit by bit. Spend when the need is big and relax. Minimum monthly instalment is Rs.100/- and is accepted in multiples of Rs.10/- thereafter. Deposits are accepted from 12 months to 120 months.

Harsha Deposit
Save with pleasure at your convenience. No penalty on your irregular remittance. You may enhance your instalment upto 10 times your initial deposit. An ideal deposit scheme for all, whose income is flexible and also for the salaried who may have to incur unexpected expenditure.


Contact your nearest Branch of State Bank of Mysore or  

Chief Manager

State Bank of Mysore  
Personal & Services Banking Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901 extn.380
Fax: 91 80 22283684
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it


 
You are here: Home Deposits

State Bank of Mysore,
H .O.: K.G.Road,
Bangalore - 560254, INDIA.
Phone (EPABX): 91 80 22353901 (30 lines of PRI)
Fax: 91 80 22283684

Download Application Form

 Application Form