- SBI's basic savings bank deposit (BSBD) account offers the same rate of interest as applicable to savings bank account, according to SBI's website - sbi.co.in. SBI currently offers a rate of interest of 3.5 per cent per annum on deposits up to Rs 1 crore in savings bank accounts.
- SBI's BSBD account can be opened singly, jointly, or with either or survivor, former or survivor, anyone or survivor etc. facility.
- The customer cannot have any other savings bank account, if he/she has a basic savings bank deposit account, said SBI. If the customer already has a savings bank account, the same will have to be closed within 30 days of opening a basic savings bank deposit account.
- Maximum of 4 withdrawals in a month is allowed in a BSBD account, which includes ATM withdrawals at own and other bank's ATMs and transactions through other mode including RTGS/NEFT/clearing/branch cash withdrawal/transfer/internet debits/standing instructions/EMI, etc.
- SBI's basic savings bank deposit (BSBD) account comes with a Basic RuPay ATM-cum-debit card, issued free of cost. The account holder can use this card at ATMs or use the withdrawal forms at branches to withdraw cash, as mentioned on SBI's portal.
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