Capital Gains Account - Personal Banking

Features

• Adequate time to acquire the new asset of your liking
• Earn interest at Savings Bank or Fixed Deposit rates as you wait.
• Savings Bank Account (Deposit Account-A) and Term Deposits (TDR / STDR) (Deposit Account-B)
• Rs. 1,000 in case of CapGains Term Deposits
• No upper ceiling for Maximum Balance/Amount
• As applicable to normal Savings Bank account and/or Term Deposits for respective maturities of Retail & Bulk deposits. No additional interest rate benefit for Senior Citizens or Staff.
• The Capital Gains Deposit Scheme is operative at all branches except Rural branches.
• Closure of TDR/STDR (Account – B) allowed before maturity. (Proceeds to be credited to CapGains SB account-Account- A only).
• At the time of closure of all accounts, the depositor will have to produce specific authority letter/ certificate from the Income Tax Officer of the respective jurisdiction. The closure would be allowed on the terms mentioned in the letter of authority.
• No loan facility against this deposit is available. This term deposit can neither be accepted as margin money for non-fund based nor as collateral to any type of fund-based facilities.
• Please click here for application form for opening account under the SBI CapGains Plus scheme.
• In case you are not a SBI customer please open an account with us and then submit the application form for CapGains Plus
• Nomination facility is available for the deposits (Up to 3 Nominees can be nominated)
• Account can be transferred from one branch to another branch
• In the event of loss or destruction of pass book or receipt, the branch may issue, on application made to it, a duplicate thereof
• Period of Deposit

  Not exceeding 2 to 3 years from the date of transfer of original asset as given below

  • Max 24 months - if capital gains is U/s 54, 54B, 54 F. (As declared in Form A by depositor)
  • Max 36 months - if capital gains is U/s 54, 54 D, 54 F, 54 G & 54GB (As declared in Form A by depositor)

Note

• Auto renewal is NOT available for Term Deposits or Special Term Deposits opened under SBI CapGains Plus unlike the Regular Term Deposit or Special Term Deposit product.
• Upon maturity of a Term Deposit or Special Term Deposit opened under SBI CapGains Plus, the proceeds will be credited into the Savings Bank Account opened under SBI CapGains Plus.