quick success series liability & transaction products 28022013

7/27/2019 Quick Success Series Liability & Transaction Products 28022013

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Page 1

QUICK SUCCESS SERIES was envisioned by Sri

Shailesh Kumar, who was then a Faculty at SBLC

Deoghar and he along with Sri Rajeev Shankar

(who is still in our team) converted their dreaminto reality, they did not really knew that time

that QSS will become so popular and SBLC

Deoghar will receive overwhelming demand for

its updated version year after year from various

parts of the country. A special thanks to both of

them for conceiving QSS.

One of the hall marks of excellence is that any

product remains constantly in demand and over

years, the demand grows. Team Deoghar is

humbled by the response and recognition, it has

received from various users of QSS. Our sincerethanks to our readers.Your expectations will keep

us live and kicking.

I take pride in representing a Team comprising of

Sri Akhil Kumar Mishra, Chief Manager

(Training), Sri Shiv Prakash Jha, Chief Manager

(Training), Sri Rajeev Shankar, Chief Manager

(Training), Sri Champak Das, Manager (Training)

& Sri Rakesh Roshan, Manager (Training), who

have owned up QSS like their own baby and are

constantly contributing towards value addition

and keeping it relevant and up to date for the

users.

We hope that this edition will be equally useful

for various promotional exams. We request our

readers to point out any lapses at the earliest,

though we have taken adequate care to be as

correct as possible. This book is however not a

substitute for circular instructions issued by the

Bank from time to time.

Our Team wishes you grand success in all your

endeavours.

S K Rana

Assistant General Manager,

State Bank Learning Centre, Deoghar- 814112

Phone- 06432-232895 Fax - 06432-231810

E-mail: [email protected]

Quick

Success

Series

Updated upto

28th

Feb 2013

Updated byChampak DasManager Training, SBLC Deoghar

Mobile- 9431866154

email- [email protected]

Liability & Transaction

Products


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Quick Success Series Liability & Transaction Products

Feb 28, 2013

Page 2

SAVINGS BANK

Savings Account may be opened byi) Any individual in his sole name

ii) By two or more individuals jointly

with survivorship benefits (like E or S,

Both or Survivor etc) or to be jointly

operated also

Removal of charges for nonmaintenance of minimum balance in

Savings Bank Accounts of Personal

Segment customers: As a major step

toward customer retention and

acquisition, it has been decided that

all Personal Segment Savings Bank

account holders across all our

branches will now be benefitted from

waiver of service charge for non

maintenance of minimum balance

stipulation (e-Circular no.1025/2011-

12 dated22.02.2012).

QAB Non Maintenance Charges inSavings Bank Account : PER Segment

NIL. SME, C&I, AGL: Rs.204 per qtr

(Urban/Metro/SU), Rs.102 per qtr

(Rural) (e-Circular no.995/2012-13

dated01.01.2013).

If at any time any one of the accountholders issue stop payment of

operation by the other joint account

holders then account can be operated

in future only

Jointly by all the account holders

Minimum Cash Deposit permittedRs 10/-

Maximum Cash Deposit permittedNo restriction

Minimum cash withdrawal permittedRs 50/-

Maximum cash withdrawal permittedNo restriction

Number of Credits permittedNo restriction

Maximum number of debit entriespermitted without any charge

30 per half year excluding SBIalternate channel transactions.

Transactions through other banks

ATM will be included

Service charge payable if debitsexceeds the limit

Rs 5/- per entry

Can third party cheques endorsed infavour of account holder be deposited

No

In non cheque operated A/c,withdrawal form should be invariably

accompanied by

Passbook

Payment through withdrawal form canbe made to

Self only

Any exceptionWhen an account holder is unable to

attend personally for withdrawing

money, he may send his

representative along with the pass

book and a letter of authority in the

prescribed format

wef 1st Apr 2010, Interest in SB A/c arebeing calculated on daily product basis

Interest are being credited to accountat Half yearly intervals

Can an account be opened in thename of Minor

Yes, either (a) singly or jointly with her

/ his guardian or

b) by guardian alone on behalf of her/

his minor ward

Conditions for opening an account insole name of minor

Minors who can adhere to uniformsignature, who understand nature of

Banking Transaction and are not less

than ten years old.

Maximum balance can be Rs.200,000/-

only

Can an account be opened in thename of Illiterate person

Yes, An illiterate person may open an

ordinary Savings Bank account in his

sole name or jointly with otherperson(s).


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Can Illiterate person open a chequeoperated A/c

Where one of the depositors is literate

a cheque-operated joint account

payable to any one, survivors or

survivor or either or survivor, etc.,

may be opened in which event only

the literate depositor will be allowed

to withdraw moneys from the account

by means of cheques

Extra Precaution to be observed incase of Account closure by Illiterate

Person

The thumb impression of the

depositor on the Savings Bank account

closing form will, in all cases, be

witnessed by an independent witness

acceptable to the Bank. Also, the

passing official will explain to the

depositor in the presence of the

witness that no more money is due to

the depositor from the Bank.

Can an account be opened in thename of a person not knowing either

the Regional language or English or

Hindi

Yes, on the same terms & conditions

as for an illiterate person

Extra caution to be observed inopening account in the name of

person who are deaf/dumb and also

illiterate

In such cases preferably accounts

should be opened to be operated

jointly by the deaf dumb illiteratealong with his close blood relations

Revised Guidelines for self operatedcheque facility to visually impaired

person

i) Third party cash payment of self

drawn cheques by visually impaired

persons is now permitted

ii) Letter of undertaking for Self

Operated Cheque Facility to Visually

Impaired/Blind person is dispensedwith and shall not be obtained

henceforth

iii) If a visually impaired depositor is

able to sign the cheques consistently,

affixing her/his thumb impression at

the time of issuing cheque is not

required

iv)The cheque leaves hitherto required

to be branded as CARE Depositor

Visually Impaired, shall now be

stopped

v)However, if the depositor(s) feel(s)

that her/his/their signature may not

exhibit consistency due to the

impairment / some other infirmity and

do/does not mind branding CARE

Depositor Visually Impaired stamp, in

order to avoid the cheque being

returned unpaid on account of

difference in the signature, in such

cases a written request for branding

the cheques may be obtained,

cheques shall be branded and thumb

impression shall also be obtained and

witnessed by the Bank Official under

his signature and specimen signature

number, along with the Bank stamp

Small Account : (KYC/AML Standards)In terms of RBI Notification Small

Account means a savings account in

banking company where :

i) The aggregate of all credits in afinancial year does not exceed

Rs.1.00 lac.

ii) The aggregate of allwithdrawals and transfers in amonth does not exceed

Rs.10,000/- and

iii) The balance at any point oftime does not exceed

Rs.50,000/-

SB Account is treated as inoperative ifNo transactions for a period of 2 years

(For this purpose both the type of

transactions i.e. debit as well as credittransactions, induced at the instance

of customers will be considered.


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However, the service charges levied or

interest credited by the Bank will not

be considered)

Provision for treating the account asdormant after one year removed

(Rationale: i) It was an extra

precaution taken by the Bank for

better risk management. ii) RBI do

not make any differentiation

between dormant and inoperative

account ii) Thus, to align with RBI

Guidelines and to have uniformity

across the banks, the instruction has

been revised)

Annual review should be carried out ofaccounts with the balance of Rs.

5000/= and more and no operations

for more than a year

i) Branches may inform the account

holders in writing on the prescribed

format, to ascertain the reason for

non-operation in the account.

ii) If, it is due to shifting of the locality,

they may be asked to provide details

of their new accounts to which the

balance in the existing account could

be transferred.

Steps to be taken for InoperativeAccounts, with balance of Rs 25000/=

and more

i) If the letter is returned undelivered,

they may immediately be put on

enquiry to find out the whereabouts

of customers or their legal heirs in

case of deceased account.ii) In case, the whereabouts of the

customers are not traceable, person(s)

who has/have introduced the account

holder should be contacted.

Contacting the employer or any other

person whose details are available

with the Bank may also be considered.

iii) The account holder may also be

contacted telephonically if the

telephone/cell number is available. Incase of non-resident accounts,

account holders may also be

contacted through email and

confirmations be obtained

Can overdraft be granted in SB A/cYes, to good customers only to an

extent of Rs 1000/- for not more than

three occasions in a year. OD to be

adjusted within one month

A/c to be debited for this purposeOverdrafts in Savings Bank Account-

it is a current account

Cheque issue charge (SB/CA)Issue of MICR Cheque- SB

(Only Multi-city/ CTS-2010 standard

cheque will be issued)

Rs.2/- per cheque leaf. First 50 leaves

Multicity Cheque book free.

Emergency Cheque request (10 leaves

set): Rs.2/-per leaves.

Issue of MICR cheque CA/CC

(Only Multi-city/CTS-2010 standard

cheques will be issued.

Rs.2/- per cheque leaf. First 100 leaves

Multicity Cheque book free.

Emergency Cheque request (10 leaves

set): Rs.2/-per leaves.

Charge for Transfer of AccountRs 102/- (inclusive of postal charge)

Emergency Cheque RequestEmergency Cheque request (10 leaves

set): Rs.2/- per leaves

A/ C Closure Charge for SB/CAWithin 14 days NIL (if the account is

closed for dissatisfactory services

within 14 days without any collection

of cheque)- As per BCSBI codeMore than 14 days but upto 6 months

- Individual- Rs 255-; Companies- Rs

1019/-

After 6 months but before 12 months

Individual- Rs 153/-; Non-individual-

Rs 509/-

Duplicate pass book/ DuplicateStatement issue Charge

Rs 102/- with latest balance

(Additional Rs 102/- per 40 entries forprevious transactions)


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Stop Payment Instruction: Rs.51/- perinstrument upto 3 leaves. Rs.204/-

Range of cheques

Charge for Allowing Operationsthrough power of attorney/ mandate

Rs 509/- per annum

(* for detail please refer e-Circular

995/2012-13 dated 01.01.2013)

No charge to be levied for updationof passbook at non home branches.

(e-Circular no.258/2011-12 dated

02.07.2011)

CURRENT ACCOUNT

Minimum QAB to be maintained in acurrent account by Non-Individuals in

Rural Areas & Other Areas

Rs. 5000 & Rs. 10000/-respectively

Minimum QAB to be maintained in acurrent account by Individual in Rural

Areas & Other Areas respectively.

Rs.2500 & Rs. 5000/-respectively

Penalty for non maintenance of QABfor Non- individual Current Account

Rs 1000/- per quarter

Penalty for non maintenance of QABfor individual Current Account

Rs 611/- per quarter

A/ C Closure Charge (See SB A/c) Interest on deceased CA to be paid at

the rate of

SB rate based on simple interest from

the date of death to the date of final

payment made to the beneficiary.

TDR/STDR

Minimum amount of deposit that canbe accepted as Term / Special Term

DepositRs.1000.00 & thereafter in multiple of

Rs 100.00

Minimum & Maximum tenure forTerm Deposits

7 days & 120 months respectively

Minimum & Maximum tenure forS.T.D.R

6 months & 120 months respectively

Maximum amount of loan that can begranted against Term Deposits

90% of principal amount + accrued

interest (Subject to an undertaking to

be furnished by the applicant to repay

the loan in monthly installments)

Opening of multiple Demand Loansagainst the same TDR/STDR is now

permitted, so long as the sum total of

the limits of all DL A/cs is within

permissible limit of DL against

TDR/STDR. The sanctioning authority

can allow max of 4 such DLs. In special

cases AGM/RM can permit 5th

loan.

At what interval Interest is to be paidon TDR

Generally at Quarterly Interval, But on

request from the depositor, interest

may be paid at half-yearly or monthly

intervals in case of term deposits fixed

for a term of twelve months and

above. Monthly interest will be paid at

a discounted value.

Can Interest be paid at CalendarQuarter i.e. on 31

stMar, 30

thJun, 30

th

Sep & 31st

Dec irrespective of the Date

of Deposit

Yes, this facility is now available (e-

circular No 768 dated 17th Feb 2010)(Rationale: For easy & convenient

computation of Interest Received by

the depositor during the financial year

for the purpose of filing I. Tax return)

Maximum amount that can be held inthe name of the Minor (Sole name,

above 10 years of age) for Term

Deposit

Rs.2,00,000/- for a maximum period of

10 years (The ceiling can be enhancedwith the permission of the controlling

authority)


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Maximum amount that can beaccepted from a natural guardian on

behalf of the Minor (No age

restriction) for Term Deposit

Rs.20,00,000/- for a maximum period

of 10 years (The amount in excess of

this ceiling can also be accepted,

provided the deposit is renewed till

the minor attains majority

TDS on Term Deposit Interest

As per Section 194A of the Income TaxAct, Tax is deducted at source

whenever interest on time deposits

credited or paid or likely to be

credited or paid to the account of a

customer, exceeds Rs 10000/- per

person, per branch in a financial year

TDS is applicable on all time depositsexcept Recurring Deposit

TDS Rate applicable on interestpayable on Time Deposit

i) For Company: Domestic 20%/Others

40%

ii) Other than company: Residents 10%

/ NRI 30%

Education Cess @ 2% & Secondary &

Higher Education cess @ 1% to be

added additionally

Form 15H is submitted byDepositors with age of 60 years &

above

Form 15G is submitted byIndividuals below age of 60 years

Form 15G & 15 H are valid only ifIt contains PAN

If PAN is not submitted, applicablerate of TDS for Resident Individuals

20% Plus 3% Cess

Recurring Deposit

Minimum monthly installmentRs. 100/- at Metro/ Urban/ Semi

Urban centre & Rs 50/- at Ruralcentres (Thereafter in multiples of Rs.

10/ -)

Minimum & Maximum tenure12 months & 120 months respectively

If opened in the name of Minor (Solename, above 10 years of age):

Monthly installments should be so

adjusted that the total amount

payable on maturity does not exceed

Rs.2,00,000/-

U/s 269 of the Income Tax Act, timedeposits with interest thereon

amounting to Rs.20000/- and above

has to be paid by way of credit to

account/Bank Draft/crossed cheque

only

Multi Option Deposit Scheme (MODS)

Minimum initial depositRs. 10,000(Subsequent deposit of Rs

5000.00 in multiple of Rs 1000.00)

Maximum deposit : no restriction Multi Option Deposit Scheme, is a

combination of

TDR/STDR with either CA or SB (OD

facility when linked with CA & Partial

withdrawal permitted when linked

with SB)

Partial withdrawal/ break up isallowed the unit of

Rs. 1,000/-

Period of Deposit1 year and above, maximum 5 years

Method applied for breaking unitsunder MODBy default Last in First Out (LIFO),

However, the depositor has the right

to break any deposit

Are Minor & NRI are eligible foropening MODs?

Yes

NRIs are eligible for opening of MODs

on repatriable basis.


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Page 7

unFixed Deposit

Provides high returns and full liquidity. Ideal for short term liquidity of

Individuals, Companies, Institutions,

Firms, Trusts, Associations, Societies

etc.

Tenor : 7 to 180 days Amount : Rs.15 lacs and above Can be withdrawn anytime after 7

days, no penalty to be levied

Kisan Mitra Jama Yojana (KMJY)

Authorised BranchesADBs, ABDs and All Branches at

Rural/ SU Centre

Minimum amount of depositRs 1500 and thereafter in multiples of

Rs. 100

Minimum amount of Partialwithdrawal

Rs. 500/- in multiples of Rs. 100/-

Minimum & Maximum period ofDeposit

12 months & 10 years

Whether Deposit Receipt is IssuedNo, a Passbook is issued

Whether Loan availableYes

Corporate Liquid Term Deposit (CLTD)

Minimum initial DepositRs.50000.00 (In multiple of Rs 5000.00

thereafter) Minimum amount of allowable

subsequent deposits

Rs. 25,000.00 (In multiple of Rs

5000.00 thereafter)

EligibilityCorporates & Institutions of all

segments

Purpose : To provide a unitized break-up of term deposit to Corporates and

Institutions. Period of deposit

15 days to 3 years

Partial withdrawal or break up isallowed in the unit of

Rs 5000.00

The deposit is not eligible for any loanagainst CLTD.

Corporate A/c : No nomination facility Min deposit of Rs.50000.00 is required

to be maintained in CLTD at all times.

Service charge of Rs.50.00 to be levied

if the balance fall below this level

during any day in a month.

Savings Plus

Minimum Balance to be maintained inSavings A/c

Rs 5000/-

Should the average balance during aquarter fall below Rs.5,000/-,

Service charge as applicable to SB

account will be charged

Minimum permissible ThresholdAmount above which sweep will take

place

Rs 5,000/

Minimum Amount of sweep to MODRs 10000/- and thereafter in multiple

of 1000/-

Option for Auto Sweep PeriodicityOnce a week on any chosen day or

once a month on any chosen date

subject to availability of fund in SB A/c

Period of Deposit for MODComponent

1 year to 5 years Under the reverse sweep facility,

customer can specify the principle for

breaking of MOD

Either LIFO or FIFO

In absence of any such option theBank would follow the principle of

LIFO

Loan (DL or OD) against deposits heldunder Saving Plus Scheme is granted

up to--------Not permitted


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Premium Savings Account

Eligibility criteriaResidents above 18 years of age

Can be opened singly, jointly with or

without survivorship benefits

Premium Savings Account was earliercalled

Rich Savings Account

Purpose : To offer an enriched versionof Savings Bank Account consisting of

various concessions and add-ons to

attract Mass Affluent and HNI

customers.

Minimum & maximum depositamount under the scheme

Rs 25000.00 with no maximum limit

Type of accountSavings Bank account linked with

MODs for auto sweep.

Minimum sweep to MODRs.10000/- and thereafter in multiples

of Rs.1000/- above the minimum

prescribed limit of Rs.25000/-.

Auto Sweep periodicityOnce a month on any chosen date

Period of Deposit for MODComponent

1 year to 5 years

Under the reverse sweep facility,customer can specify the principle for

breaking of MOD

Either LIFO or FIFO

In absence of any such option theBank would follow the principle of

LIFO Deposits broken through reverse

sweep will be paid interest as

applicable to deposits for such period

at the date of opening of such

deposits with penalty as applicable for

premature withdrawal

Customer can draw the amountconveniently for any debit

transactions through cash

withdrawals, transfer, ATM, InternetBanking and Standing Instructions

Balance in the Premium SavingAccount will not go below the

minimum prescribed balance, unless

the MOD component is fully

exhausted. If average minimum

balance is not maintained, Rs 500.00

will be charged per quarter.

Pre closure charges ( within 12months) is Rs 500.00

Value Added Facilitiesi)100 normal SB cheque leaves free in

a year

ii) Unlimited number of debit per half

year.

iii)Free ATM Gold card (Master/Visa)

iv)Free INB facility for viewing account

and utility bill payment

v)Free SMS Alert.

vi)Free MCC up to 25 leaves

vii)25% concession in Inter core

Transactions

viii)50% concession in draft issue and

collection charges. No charges for

issuing Bankers cheque.

ix)No charges on outward RTGS / NEFT

transactions

SBI SURABHI

Purpose (Rationale)To meet the requirements of trusts

and other organizations that have cash

accruals needing safe investment

options.

To Provide Value added Product to the

top Corporates/Institutions/Trusts etc. Nature of Deposit

SB or CA linked to CLTD

Minimum Balance for CARs 10000/-

Minimum Bal for SBRs 1000/-

Period of CLTDMinimum-12 Months; Maximum-36

Months

Min Threshold Limit for SweepRs 50000/-

Min Amount of Sweep


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Rs 10,000/- and in multiples of Rs

1000/-

Periodicity for SweepWeekly

Partial Withdrawal based onLIFO

No loan ar OD is permissible againstthe deposit

Senior Citizen Deposit Scheme

Minimum age of the depositor shouldbe

60 years or above on the date of

deposit

Period of depositMinimum 1 year maximum 10 years

Minimum amount of deposit isRs. 10000.00 and thereafter in

multiple of Rs 1000.00 (For RD,

maturity value should be Min.

Rs.10,000/-)

Differential rate of interest underSenior Citizen Deposit Scheme is

0.25% above the normal rates

Nomination: i) Signature of nomineeduly attested by Senior Citizen to be

obtained.

ii) Option to write name of nominee

on receipt apart from nomination

registration no (if Senior Citizen not

agreed for above provision, consent

letter to be kept on record)

Capgain Plus Purpose

For parking of capital gains for a

period of maximum 3 years and

utilization thereof for capital

investment

Authorised branchesAll branches except rural branches

Minimum amount of depositsRs 1000.00 for a Savings Bank and Rs.

5,000.00 for a term deposit Period of Deposit

Not exceeding 2 to 3 years from the

date of transfer of original asset as

applicable under different sub sections

of the act (i.e. U/s 54 B & F for 2 years,

U/s 54, 54 D, 54 G for 3 years)

Amount withdrawn is to be utilisedwithin

60 days

No Cheque Book No ATM Card No Loan facility Term deposit can neither be accepted

as margin money for NFBL nor as

collateral for any FBL.

Withdrawal from SB on specifiedforms (Form D to be submitted in

duplicate)

Premature Payment of TDR onlyafter production of a specific letter of

Authority from the concerned Income

Tax Officer (Form C)

Withdrawal of amount can bepermitted only by way of DD in favour

of the person to whom payment has

to be made, if amount of such

withdrawal exceeds Rs 25000/-

Account can be closed only with theapproval of the IT Assessing Officer

(Form G)

Application Form (Form A),Conversion of TDR into SB (Form B),

Nomination (Form E), Cancellation of

Nomination (Form F), Settlement of

Deceased (Form H)

No Frill Account

No Frill Account can be opened by anindividual if his/her

Age is 18 years & above and gross

income is Rs. 5000.00-or less as per

the specified self declaration format.

Now pensioner (


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10

Maximum balance that can bemaintained is

Rs 10000.00, but an aggregate credit

not to exceed Rs 100000.00

Payable Rate of interestAs applicable to Savings Bank account

irrespective of the balance

Facilities & restrictions in No FrillAccount are

Cheque book facility is available. ATM card is available. No INB facility. Non-home branch transaction not

allowed

Gold Deposit Account

Eligibilityi)Individual (Singly, E or S, F or S)

ii)Joint Hindu Family

iii)Trust

iv)Company

Nomination facility will be available ifthe deposit is

In single name in individual capacity,

however, Nomination facility will lapse

if the certificate is transferred to

another person

Nodal Branch for the schemeOverseas Branch, Mumbai

Minimum quantity of gold that can bedeposited

500 gms (gross)

Period and rate of interest of Deposit(3 years-1%),( 4 years-1.25%) & (5

years-1.50%) Gold will be accepted in the scrap

form.

Gold deposit certificate will be issued.Alternatively statement of

account/passbook may also be issued

at the choice of the depositor.

Depositors opting for certificate wouldbe issued a single certificate or

certificate in the denomination of 100

gms and 1000 gms alongwith onecertificate for the balance quantity.

Single certificate will also be availablefor the full quantity. These certificates

are transferable by endorsement and

delivery.

Gold deposit certificate has beenclassified as specified security. Loan

facility (OD/DL) may be availed for any

general purpose.

YUVA SB Account

Who can openAge above 18yrs and upto 30 yrs

PurposeTo attract youths to our fold

Available atAll Branches in Metro/Urban centres

Minimum BalanceRs 5000/-

Maximum balance No limit Advantages

i)50 SB Cheque leaves & 25 MCC

leaves free in a Year

ii)One DD/BC to be issued free

favouring Educational Institutions or

for applying for a job

iii)Immediate credit of outstation

cheques upto Rs 30000/-

iv)YUVA ATM Card to be issued free of

cost

v) Free Internet Banking & SMS alert.

vi)Many add on facilities in

remittances/collection, MCC, Inter-core transactions & DDP

SBI Flexi Deposit

PurposeTo cater to the needs of the people

who have surplus income and desire

to earn attractive interest with

flexibility of increasing the amount

Scheme similar toPPF Deposit Scheme

Minimum Deposit at any one instance


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11

Rs 500/-

Minimum Deposit per financial yearRs 5000/- plus in multiples of Rs 500/-

Max Deposit per Financial YearRs 50000/-

Type of AccountRecurring Deposit (Variable deposit)

account

Penalty for default in payment ofMinimum Deposit per Financial Year

Rs 50/-

Period of DepositMin 5 yrs & Max 7 yrs

Interest will be compounded atquarterly intervals, based on the

balance outstanding on the last date

of each month.

Deposit on maturity can be withdrawnon the last date of the month in which

it matures

SBI Annuity Deposit

Under this scheme a lump sumamount deposited by a customer is

repaid over a period of equated

monthly installments, comprising part

of principal amount and as well as

interest on the reduced principal

amount, compounded at quarterly

rests and discounted monthly

Minimum Deposit AmountRs 25000/-

Minimum Monthly AnnuityRs 1000/-

Period of Deposit36 / 60 / 84 / or 120 months

Loan upto 75% of the balance amountof annuity permitted

Whether premature paymentpermitted

Only in case of death of depositor

SBI Tax Saving Scheme 2006

Who can openIndividuals in single name or jointname or Karta of an HUF

Cater the need of Income Tax assesses

PAN is mandatory Tax Benefit under Sec 80C of IT Act

1961

Minimum DepositRs 1000/-

Maximum DepositRs 100000/- in a year

Period of DepositMinimum 5 Years and Maximum 10

Years

Whether Premature payment allowedAfter completion of 5 yrs (There is a

lock in period of 5 years)

Whether loan availableNo loan facility. It can also be not held

as collateral for securing any loan

In case of Joint A/c, who will get taxbenefit

First Account holder (u/s 80c of IT

Act,1961)

IT on interest : Income is liable for taxdeduction u/s 194A & 195 of the act)

TERM DEPOSITS FOR 18 YEARS FOR THE

BENEFIT OF GIRL CHILD Purpose

To target beneficiaries of Government

Departments who plan to deposit a

corpus at the time of birth of a girl

child.

Who can open?a) Joint accounts with legal guardian

of girl child operating the account.

b) Provision for to be made to accept

the mandate of Govt. Departmentfunding the amount

Minimum BalanceRs 1000/- (Deposits can be made by

cheques issued by Government

authorities/ funds transferred from

Govt. account)

Maximum BalanceNo Cap on Maturity Amount

Premature WithdrawalAllowed under the followingcircumstances:

a)Death of the minor,


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12

b)Mandate received from Government

Loan FacilityNot available

Auto Renewal of AccountNot Applicable at the time of Maturity

Maturity DateNot to exceed 18 years from the date

of birth of the Girl Child

SME SAHAJ

Purpose (Rationale)To make banking facility accessible to

vast section of low profile trading

community and Non-individual

customers

QABRs 1000/-

Penalty for Non Maintenance of QABRs 300/- per quarter

Whether Cash Withdrawal Permittedat Cash Counter

No

Whether ATM Card Facility ProvidedYes

Card Name & Cash Withdrawal LimitSahaj, Rs 15000/-

Whether INB Facility ProvidedYes

Any Restrictions on Cash DepositYes, Max Deposit Rs 10000/- per day

Whether Cheque Facility AvailableYes

Charge for Cheque BookRs 5/ - per cheque upto 25 leaves per

year

Additional cheques @ Rs 10/- per leaf

Drawing Per Cheque to be limited toRs 15000/-

Charge for SI for Payment to OtherAccount

Rs 50/- per Transaction

Immediate credit of OutstationCheques upto

Rs 15000/-

SBI SHAKTI

Current Account product with QABRs.20,000/-.

Penalty for non maintenance of QABRs.750 per qtr

Cash deposit/withdrawal at homebranch unlimited

Cash deposit/withdrawal at non homebranch Max Rs.20,000/- on charge of

Rs.100 per transaction.

Penalty on closure of A/c within 12months Rs.750/-

Deposit of cheque & clearinginstrument at home/non home

branch, issuance of BDs/B Chq/ Pay

orders, remittances at concessional

rates. CINB-free.

MCC,NEFT & RTGS available at normalcharges.

POWER JYOTI

Purpose (Rationale)To provide fee collection facility for

institutions through our core banking

branches

Type of A/c : CA QAB

Rs 25000/-

Penalty for non maintenanceRs 1000/- per quarter

Penalty for Closing A/c within 12months

Rs 500

Whether Cheque Facility availableNo

No overdraft facility is permissible. Transactions other than fee collection

is not permitted in non-home

branches

In a single Challan, Upto _____types of fee can be collected :10

Challan is in ____ PartsThree


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13

POWER JYOTI PLUS for Brokers

Tailored product with customized MISto suit the broking house needs.

Power Jyoti Plus A/cs to be opened atour Capital Market Branch, Mumbai.

Branches and franchisees of thebrooking firms from other will bring

only local cheques for credit to these

accounts with special challan forms for

assured MIS facility.

No cash deposit is allowed.

SME POWER

Eight Power Products Launched inPlace of Power Pack, Power Gain & SBI

Shakti

(Rationale: i) To provide multiple

choices to the customer

ii) To enhance competitiveness of

Business Current Accounts in tune

with market trends)

Features of New ProductQAB ranging from Rs 20,000/- to Rs 5

Lacs

Concessions/ Freebies based on the

QAB

Whether Cheque Return ProtectionFacility (Temporary OD) is available

under new products

No

Name & QAB of New Power ProductsPower Pack : Rs 5 Lacs

Power Premium : Rs 4 Lacs

Power Privilege : Rs 3 LacsPower Advantage : Rs 2 Lacs

Power Gain : Rs 1 Lacs

Power Super : Rs 75000/-

Power Lite : Rs 40000/-

Power Base : Rs 20000/-

Penalty for Non Maintenance of QABPower Pack : Rs 10000/ Qtr

Power Premium : Rs 9000/ Qtr

Power Privilege : Rs 8000/ Qtr

Power Advantage : Rs 7000/ QtrPower Gain : Rs 6000/ Qtr

Power Super : Rs 5000/ Qtr

Power Lite : Rs 4000/ Qtr

Power Base : Rs 3000/ Qtr

Penalty for Closing A/c within 12 mthsPower Pack : Rs 5000/-

Power Premium : Rs 4000/-

Power Privilege : Rs 3000/-

Power Advantage : Rs 2000/-

Power Gain : Rs 1000/-

Power Super : Rs 900/-

Power Lite : Rs 800/-

Power Base : Rs 750/-

Cash Deposit At Home Branch(Monthly ceiling specified)

Power Pack Unlimited, Free

Power Premium-Free Upto 30 lacs PM

Power Privilege-Free Upto 25 lacs PM

Power Advantage- Free Upto 20 lacs

PM

Power gain- Free Upto 15 lacs PM

Power Super- Free Upto 10 lacs PM

Power Lite- Free Upto 6 lacs PM

Power Base- Free Upto 4 lacs PM

(For Amount above the monthly

ceilingRs 25/- per lac or part thereof)

Cash Deposit at Non Home Branch(Max limit Rs 2 lakh per day; BM of

Non Home Branch is vested with

discretion to accept more cash;

Normal Charge: 0.20% of amt

deposited; Min Rs 25/-)

Power Pack Free

Power Premium 25% of Normal

Charge; Cash Handling Charge Free

Power Privilege 30% of Normal

Charge; Cash Handling Charge FreePower Advantage 40% of Normal

Charge; Cash Handling Charge Free

Power Gain 50% of Normal Charge;

Cash Handling Charge Free

Cash withdrawal at Home BranchUnlimited & free in case of all variants

Cash Withdrawal at Non Home Branch(Max Limit Rs 1 lac per day by account

holder only; Normal Charge: 0.20% of

amt encashed; Min Rs 25/-)Power Pack : Free

Power Premium: 25% of NC; Min 25/-


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Power Privilege: 30% of NC; Min 25/-

Power Advantage:40% of NC; Min 25/-

Power Gain :50% of NC; Min 25/-

Power Super :75% of NC; Min 25/-

Power Lite : 80% of NC; Min 25/-

Power Base : 90% of NC; Min 25/-

Draft/ Bankers Cheque Issue ChargePower Pack : Free

Power Premium: Rs 0.25/1000; Min

25/-; Max 3000/-

Power Privilege: Rs 0.30/1000; Min

25/-; Max 3000/-

Power Advantage: Rs 0.40/1000; Min

25/-; Max 3000/-

Power Gain: Rs 0.50/1000; Min 25/-;

Max 3000/-

Power Super: Rs 0.75/1000; Min 25/-;

Max 3000/-

Power Lite: Rs 0.80/1000; Min 25/-;

Max 3000/-

Power Base: Rs 0.90/1000; Min 25/-;

Max 3000/-

Outstation Cheque Collection ChargePower Pack & Power Premium: 25% of

Normal Charge

Power Privilege, Power Advantage &

Power Gain : 50% of Normal Charge

Power Super, Power Lite & Power

Base: Normal Charge

Inter Core Transaction (Intra City)Free in case of all variants

Inter Core Transaction (Inter City)(Normal Charge: Rs 2/- per Rs 1000/-;

Min Rs 25/-; Max Rs 1250/-)

Power Pack : FreePower Premium: 25% of NC; Min 25/-;

Max 1250/-

Power Privilege: 30% of NC; Min 25/-;

Max 1250/-

Power Advantage:40% of NC; Min 25/-

; Max 1250/-

Power Gain :50% of NC; Min 25/-;

Max 1250/-

Power Super :75% of NC; Min 25/-;

Max 1250/-Power Lite : 80% of NC; Min 25/-;

Max 1250/-

Power Base : 90% of NC; Min 25/-;

Max 1250/-

Multi City Cheque Facility(Normal Transaction Charge: Rs 25/-

per Cheque upto Rs 5 lacs & Rs 50/-

per Cheque for amounts above Rs 5

lacs)

Power Pack, Power Premium, Power

Privilege, Power Advantage &

Power Gain : Issue Charge &

Transaction Charge Free


Base: Issue Charge Free / Normal

Transaction Charge

Cheque Book Charge (Other thanMCC)


Privilege, Power Advantage & Power

Gain: Free

Power Super & Power Lite: Rs 1/- per

leaf

Power Base: Rs 2/- per leaf

CINBAvailable to all variants

ATM Cum Debit CardPower Pack, Power Premium & Power

Privilege: Power Pack Card

(International); Withdrawal Limit Rs

50000/-

Power Advantage, Power Gain, Power

Super, Power Lite & Power Base:

Power Gain Card (Domestic);

Withdrawal limit Rs 40000/-

RTGS ChargesPower Pack, Power Premium, PowerPrivilege, Power Advantage & Power

Gain: Free

Power Super & Power Lite: Flat Rs 25/-

per Transaction

Power Base: Normal Charges

NEFT ChargesPower Pack, Power Premium, Power

Privilege, Power Advantage, Power

Gain, Power Super & Power Lite: Free

Power Base: Normal Charges Standing Instruction Charges


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15



Gain: Free


Base: Normal Charges

Issue of Duplicate Statements:Power Pack, Power Premium, Power


Gain: Free


Base: Normal Charges

Car LoansPower Pack & Power Premium: Pre

Approved Car Loans for Promoters

Power Privilege, Power Advantage,

Power Gain, Power Super, Power Lite

& Power Base: Not Available

Demat Services & Ez TradePower Pack, Power Premium, Power

Privilege, Power Advantage, Power

Gain, Power Super & Power Lite: Free

in the name of the Firm/ Corporate

Power Base: Not Available

Salary AccountsPower Pack, Power Premium & Power

Privilege: All categories of Salary

Accounts for the employees of the

Firm/Corporate

Power Advantage & Power Gain: Silver

& Gold Salary Accounts for all

employees of the firm/ Corporates


Base: Not Available

Salary Packages Corporate Salary Package (CSP) - For

Permanent employees of a Corporate

or Institution fulfilling two criteria*

(See box below)

Defence Salary Package Army (DSP-Army)- For Personnel of Army &

Rashtriya Rifles

Defence Salary Package Navy (DSP-Navy)- For Personnel of Navy

Defence Salary Package Air Force(DSP-Airforce)- For Personnel of

Airforce

Defence Salary Package Assam Rifles(DSP-AR)- For Personnel of Assam

Rifles

Defence Salary Package GREF (DSP-GREF)- For Personnel of General

Reserve Engineer Force

Para Military Salary Package (PMSP)-For Personnel of Central Reserve

Police Force (CRPF); Commando

Battalion for Resolute Action (COBRA),

under Command & Control of CRPF;

Sashastra Seema Bal (SSB); Border

Security Force (BSF); National Security

Guards (NSG); Indo Tibetan Border

Police (ITBP) & Central Industrial

Security Force (CISF)

Railway Salary Package (RSP)- ForPersonnel of Indian Railways

Police Salary Package (PSP)- Forpermanent employees of Central

Police Organisations and Police Forces

of States and Union Territories

Indian Coast Guard Salary Package- Anew salary package scheme is

launched

State Govt Salary Package (SGSP)-Concession will be available to those

employees who maintain their salary

account with SBI only

Central Govt Salary Package (CGSP)-Permanent employees of all ministries

and department of Central Govt

including defence civilians are covered

by the scheme already. Now

employees of RBI and NABARD arealso included.

Variants of Salary A/cs in all thesesSalary Packages

Four (Silver, Gold, Diamond &

Platinum)

Any Exception to the abovePlatinum Variant not available in DSP-

AR (Since officers qualifying for

Platinum Variant are on deputation

from Army & they are already coveredunder DSP-Army)


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Basis for determining the variant ofSalary A/C

CSP-Gross Salary; In all other

Packages- Rank of the employee (For

details refer Memory Mantra)

Common Features applicable to AllVariants in All the Salary Packages

Free unlimited number ofSB cheques

(Except for bulk requirement for EMIs

payable to other banks/ FIs/NBFCs)

Free Multi City cheque leaf charges &

issue charges

Min Threshold Amount of Rs 15000/-

for Auto Sweep Facility under Savings

Plus

Core Power (Transaction at Non Home

Branches)- Free

Core Power (Transfer of Fund between

SBI Branches) Free for Salary

Package Accountholder, however,

Normal Charges applicable to

beneficiary of such transfer except in

case of DSP/PMSP

Overdraft facility limited to 2 months

Net Salary repayable within 6 months

from next salary

1% Discount in purchase of Gold Coin

of all denominations

Free Issue & Annual Maintenance

Charge of ATM

Free Add on card for spouse in case

joint accountholder

Free RTGS/NEFT facilityeZ trade (3-in one account : demat,

share trading and Savings account)

1st

Year Demat Account opening

Charge waived (RSP & PSP only)

1st

Year Annual Maintenance Charge

waived (DSP & PMSP only)

50 bps concession in Home Loan, Car

Loan, Xpress Credit & Education Loan

(DSP/PMSP)

50 bps concession in Car Loan &Xpress Credit (RSP/PSP)

25 bps concession in Home Loan

(RSP/PSP)

5% concession in Margin in Car Loan

(New Cars only) (All Salary Packages

except CSP)

Processing charge waived on all

Personal Segment Loans (DSP/PMSP)

50% Concession in Processing Charge

of HL & XP (RSP/PSP)

Rs 500/- per application processing

charge in Car Loan (RSP/PSP)

Common Features applicable to SilverVariant in All the Salary Packages

Free Domestic ATM Card

One additional ATM card to Single

Accountholders at their risk &

responsibility (DSP/PMSP) Personal

Accident Insurance Cover of Rs 1 Lakh

(RSP only)

Personal Accident Insurance Cover of

Rs 3.00 lacs (enhanced from Rs.2.50

lacs) PSP/DSP/PMSP

Common Features applicable to Gold& Diamond Variant in All the Salary

Packages

Free Gold International Visa or Master

Debit Cards. Personal Accident

Insurance cover of Rs 5 lacs (enhanced

from Rs.4 lacs)

Common Features applicable toPlatinum Variant in All the Salary

Packages

Free Platinum International DebitCards

Personal Accident Insurance cover of

Rs. 5 lacs

SBI Vishesh status

25% Concession in locker charge

Application for availing overdraft to be

obtained at the time of opening new

accounts /conversion of existing

accounts and limit set up ab-initio

Number of free drafts per month witha ceiling of Rs 50,000/- on each draft


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and only if issued through transfer

from the Salary Account

DSP/PMSP [Silver-5, Gold 10,

Diamond 25, Platinum Unlimited]

RSP/PSP 2 (All Variant)

NEFT charge per outward transactionfor Employers

Up to Rs. 1 lac: Rs. 5/- per transaction,

Above Rs.1 Lac to Rs.2 lakhs Rs.15/-

Above Rs. 2 lac: Rs. 25/- per

transaction

RTGS charge per outward transactionfor Employers:

Rs. 2 lac to Rs.5 lacs: Rs. 25/- per

transaction

Above Rs.5 Lacs Rs.50

(NEFT/RTGS Charges for Employers

Waived whilst uploading salary /other

credits to employee accounts through

our CINB)

*Criteria for offering CSP to the employees of a Corporate or Institution

i) A minimum number of 25 employees with a minimum payout of Rs.1.25 lacs p.m &ii) Minimum gross monthly salary per account of Rs. 5,000.00

(PBBU Heads of the Circle may permit deviation and approve a tie up with a Corporate/

Institution having minimum number of 10 employees opening their salary accounts with us)

Circle CGM may permit coverage of employees having salaries of less than Rs.5000 per month

under Silver variant, provided:

All the salary accounts are maintained with our Bank &

The employees drawing gross salary of less than Rs.5,000/-should not be more than 20% of total

quick success series liability & transaction products 28022013

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