Sbi Small Account

The PPF scheme, which was introduced by the National Savings Organization in 1968 to mobilize small savings, offers an investment avenue with decent returns coupled with income tax benefits, according to SBI's website- sbi.co.in.

State Bank of India or SBI, the largest commercial lender of the country, offers a zero balance savings account, which can be opened by customers who do not have know-your-customer (KYC) documents. Banks usually follow a strict KYC procedure before customers open their accounts. However, SBI's small account can be opened by anyone who does not have...

SBI offers the same interest rate on small account as those on regular savings bank accounts. The bank offers an interest rate of 3.5 per cent per annum on deposits less than Rs. 1 lakh.

Public Provident Fund (PPF) account, a retirement planning-focused instrument, is considered among the most sought after investment products by financial experts. It is offered by various institutions including India Post and commercial lenders such as State Bank of India (SBI). The scheme was introduced by the National Savings Organization in 1968...

SBI account without minimum balance restrictions: Besides the Basic Savings Deposit Balance (BSBD) account, other SBI accounts that are free from minimum balance restrictions include financial inclusion accounts - such as the bank accounts opened under the government's Jan Dhan scheme, no frill accounts, salary package accounts, small accounts, and...

SBI's small accounts can be opened by any individual who is above 18 years and do not have officially valid KYC (Know Your Customer) documents. However, there are many restrictions in operation of small accounts due to the relaxed KYC, the lender added. These accounts can be converted to regular savings account upon submission of KYC documents.

The rate of return on term or fixed deposit varies from 5.75 per cent to 7.8 per cent for the general public, and 6.25-7.80 per cent for senior citizens. India Post - which operates a network of more than 1.5 lakh post offices across the country - offers four maturity periods under its Time Deposit (fixed deposit) small savings scheme.

While SBI has set certain rules for its regular savings accounts - wherein the account holder is required to maintain an average monthly balance to the tune of Rs 1,000-3,000 in the account, it also offers special savings bank accounts which are free of any such requirement. SBI's small and basic savings bank deposit accounts do not restrict the a...

SBI small account: Customers do not require to maintain an average minimum balance (AMB) in this account.

SBI Small Savings Account: The maximum balance amount that can be maintained in small account is Rs. 50,000.

State Bank of India (SBI) offers certain accounts which are primarily meant for poorer sections of society to encourage them to start saving without any burden of charges or fees. Small account, one such product offered by SBI, can be opened by any individual who is above 18 years and do not have officially valid KYC (Know Your Customer) documents,...

State Bank of India (SBI), the country's largest lender, offers a host of services to its customers. PPF (Public Provident Fund) account, one such product offered by the lender, is a retirement planning-focused instrument. Public Provident Fund (Amendment) Scheme, 2016 was introduced by the National Savings Organization in 1968 to mobilize small sa...

SBI's small account with zero balance requirement: SBI's small account can be opened by anyone who does not have valid know-your-customer (KYC) documents, provided he is above 18 years of age.

Small finance banks may be niche banks, catering to a small section of customers, but the interest rates that they offer on savings bank accounts are much higher than larger peers. Consider this: large banks like State Bank of India (SBI), HDFC Bank and ICICI Bank offer between 3.5 per cent and 4 per cent on savings account deposits. But small fina...

From savings bank account to small account, SBI provides a variety of options for customer's requirements.

The PPF scheme, which was introduced by the National Savings Organization in 1968 to mobilize small savings, offers an investment avenue with decent returns coupled with income tax benefits, according to SBI's website- sbi.co.in.

State Bank of India or SBI, the largest commercial lender of the country, offers a zero balance savings account, which can be opened by customers who do not have know-your-customer (KYC) documents. Banks usually follow a strict KYC procedure before customers open their accounts. However, SBI's small account can be opened by anyone who does not have...

SBI offers the same interest rate on small account as those on regular savings bank accounts. The bank offers an interest rate of 3.5 per cent per annum on deposits less than Rs. 1 lakh.

Public Provident Fund (PPF) account, a retirement planning-focused instrument, is considered among the most sought after investment products by financial experts. It is offered by various institutions including India Post and commercial lenders such as State Bank of India (SBI). The scheme was introduced by the National Savings Organization in 1968...

SBI account without minimum balance restrictions: Besides the Basic Savings Deposit Balance (BSBD) account, other SBI accounts that are free from minimum balance restrictions include financial inclusion accounts - such as the bank accounts opened under the government's Jan Dhan scheme, no frill accounts, salary package accounts, small accounts, and...

SBI's small accounts can be opened by any individual who is above 18 years and do not have officially valid KYC (Know Your Customer) documents. However, there are many restrictions in operation of small accounts due to the relaxed KYC, the lender added. These accounts can be converted to regular savings account upon submission of KYC documents.

The rate of return on term or fixed deposit varies from 5.75 per cent to 7.8 per cent for the general public, and 6.25-7.80 per cent for senior citizens. India Post - which operates a network of more than 1.5 lakh post offices across the country - offers four maturity periods under its Time Deposit (fixed deposit) small savings scheme.

While SBI has set certain rules for its regular savings accounts - wherein the account holder is required to maintain an average monthly balance to the tune of Rs 1,000-3,000 in the account, it also offers special savings bank accounts which are free of any such requirement. SBI's small and basic savings bank deposit accounts do not restrict the a...

SBI small account: Customers do not require to maintain an average minimum balance (AMB) in this account.

SBI Small Savings Account: The maximum balance amount that can be maintained in small account is Rs. 50,000.

State Bank of India (SBI) offers certain accounts which are primarily meant for poorer sections of society to encourage them to start saving without any burden of charges or fees. Small account, one such product offered by SBI, can be opened by any individual who is above 18 years and do not have officially valid KYC (Know Your Customer) documents,...

State Bank of India (SBI), the country's largest lender, offers a host of services to its customers. PPF (Public Provident Fund) account, one such product offered by the lender, is a retirement planning-focused instrument. Public Provident Fund (Amendment) Scheme, 2016 was introduced by the National Savings Organization in 1968 to mobilize small sa...

SBI's small account with zero balance requirement: SBI's small account can be opened by anyone who does not have valid know-your-customer (KYC) documents, provided he is above 18 years of age.

Small finance banks may be niche banks, catering to a small section of customers, but the interest rates that they offer on savings bank accounts are much higher than larger peers. Consider this: large banks like State Bank of India (SBI), HDFC Bank and ICICI Bank offer between 3.5 per cent and 4 per cent on savings account deposits. But small fina...

From savings bank account to small account, SBI provides a variety of options for customer's requirements.