Surabhi Current/Savings Account

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Surabhi Current/Savings Account (Sweep Facility Available)
Apply Now General Guidelines

Surabhi Current/Savings Account bundles liquidity with better returns by providing sweep facility as a value-added service. Surabhi Current/Savings Account provides a scheme with sweep and reverse sweep option to Term Deposits

Features

  • Low Monthly Average Balance.
  • Current Account-Free Cash Deposit up to Rs 5 lakhs per month (Inclusive of cash deposited in CDM, Recycler, GCC, Home & Non-Home Branches).
  • Savings Account-Cash deposit- 3 transactions free in a month.
  • UNLIMITED number of Payments and Withdrawal facility options are available at 22000+ Branches across India and Convenience to withdraw and deposit cash at all 22000+ SBI Bank branches.
  • Free Cash Withdrawal from Home Branch.
  • Free access to the Safest, Securest, Fastest Internet Banking.
    • Current Account: Free 50 Cheque Leaves in a Financial year.
    • Savings Account: First 10 Cheque leaves free in a financial year.
  • Current Account: Monthly Average Balance (MAB) : Rs. 10,000 /-
  • Savings Account: Metro & Urban Centre Branches-Rs.3000/- (MAB)
    • Semi Urban Centre Branches- Rs.2000/- (MAB)
    • Rural Centre Branches- Rs.1000/- (MAB)
  • Nature of Deposit : Savings & Current Account linked to Term Deposit.
  • Period for CLTD
    • Minimum –7 days
    • Maximum – 36 months
    • The period of deposit to be fixed by the depositor initially and the same is incorporated in the application form.
  • Over Draft Facility : NA
  • Debit Card
    • FREE
    • ATM/DEBIT CARD (1st Year)
  • Transfer of Account to another Branch: FREE
  • Operation of Account : The balances in the Savings / Current account will be transferred automatically by means of auto sweep facility to term deposit / special deposit account on a weekly basis, whenever there are surplus funds in the account.
    • The tenure of deposits will be decided by the depositor at the time of opening the account.
    • The threshold limit in the operation account to be maintained will be at Rs.1,00,000/-(The excess amount over and above the said balance will be transferred to Corporate Liquid Term Deposit Account).
    • In case of necessity, the depositor may withdraw the amount by means of reverse auto sweep (i.e. breaking the deposit – Last in First Out – LIFO), in multiples of Rs.10,000/- to meet the shortfall and to maintain minimum balance.
    • Deposits broken through reverse sweep will be paid interest as per the card rates for such period applicable as at the date of opening of such deposits with penalty as applicable for premature withdrawal as in the case of premature payment of TDR/STDR
  • Rate of Interest: As applicable for Term Deposit / Special Term Deposit for the tenure the deposit is contracted. No differential rate of interest is applicable.
  • Internet Banking: Free

Deposit

  • Current Account-Free Cash Deposit up to Rs 5 lakhs per month (Inclusive of cash deposited in CDM, Recycler, GCC, Home & Non-Home Branches).
    • Thereafter Rs 0.75 per Rs. 1000/- + GST .
    • Min Rs. 50/- + GST
    • Max Rs. 20,000/- + GST
  • Savings Account-Cash deposit- 3 transactions free in a month.
    • Cash Withdrawal Home Branch: Free
    • Current Account: Non Home Branch: MAX. Rs 1,00,000/- per day) (Self only)
  • Savings Bank Account: For Saving Bank Account:
    • Non-Home up to Rs.50000/- Free by self only
    • Average Monthly Balance Cash withdrawal transaction
    • Up to Rs.25000/- 2 transactions free
    • Above Rs.25000/- up to Rs. 50000/- 10 transactions free
    • Above Rs.50000/- up to Rs.100000/- 15 transactions free
    • Above Rs.100000/- Unlimited free
    • Charges for transactions beyond free limit Rs.50/- + GST per transaction

Download Account Opening Form


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General Guidelines

Last Updated On : Thursday, 14-03-2024

Interest Rates

8.00%* p.a. onwards

w.e.f. 15.04.2025

*T&C Apply.

 

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