INSUBCONTINENT EXCLUSIVE:
Current accounts and savings accounts are two main types of accounts offered by the bank.
State Bank of India (SBI) offers different kind of accounts for serving
different financial needs of users
Current accounts and savings accounts are two main types of accounts offered by the bank
SBI's savings account is a basic account that keeps customers' money safe and helps them grow their savings moderately
The savings bank account offers a range of facilities for customers
SBI's current bank accounts are used for regular transactions and are more suited for users like firms, companies, public enterprises,
cent per annum on saving deposits balance up to Rs 1 crore
Saving deposits balance above Rs 1 crore charges 4 per cent per annum interest rates
Savings Bank account can also be linked to Multi Option Deposit (MOD) account for earning higher term deposit interest on surplus money
Under savings account, SBI also offers special salary accounts for employees of corporates, schools, colleges, universities, government
establishments/ organisations, railways, police establishments, defense personnel and so on.SBI's current accountAny individual who owns a
valid KYC (Know Your Customer) documents can open a SBI current account
The monthly average balance requirement for personal banking branch is Rs 10,000 while for non-rural it is Rs 5,000
For rural branch, it is Rs 2,500
No rate of interest is available on this account
There is no maximum balance limit
It offers free cash deposit up to Rs 25,000 per day
Nomination facilities are available on this
