 |
 |
 |
 |
 |
 |
 |
 |
 |
|||||||||||||||||||
|
|||||||||||||||||||
|
|||||||||||||||||||
|
|||||||||||||||||||
|
 |
||||||||
 |
 |
|||||||
|
|||
| Deposits: Savings bank account Who can open an account? An individual Institution, society or minor 10 yrs old and above is eligible What are the facilities / features of this account? You can open the account singly or jointly with your spouse/another person. You can give standing instructions for the remittance of LIC premium, house rent etc. Half-yearly payment of interest @ 3.5% in computerized branches Nomination facility is available You can avail ATM cum Debit card facility, where it is made available Can I deposit a cheque as my first payment into the account? The first deposit has to be in cash only What are the requirements for opening this account? Three recent passport size photographs Proof of residence such as Voter Identity card, Electricity bill, Telephone bill, Pass port, Driving License or PAN card. A referrer who has held a Savings Bank Account with us for at lest 6 months for introducing you. Current account Who can open an account? Individuals, organizations, clubs, societies and business concerns can open a current account. Are there any restrictions on the number of transactions? No such restrictions. How can I verify my transactions? You will be provided with statements of account of passbook for this purpose. What is the minimum balance that is required to be maintained? You need to maintain a minimum balance of Rs 5000/- in Metros Rs 3000/- in Urban areas Rs 1000/- in Semi-Urban areas Rs 500/- in Rural areas Term deposit account: Special term deposit account (Reinvestment Plan deposits) Who can open an account under the scheme? Individuals, firms or companies can open the accounts under this scheme. What is the period of deposit I can choose? You can choose the period ranging from 6 months to 120 months. What are the special features? Unmatchable safety and security of your hard-earned money. Higher rate of return. Auto renewal which ensures that you continue to earn interest even after the maturity of your deposit. You can take back your money at any time should you require it simply through a requisition. Where your deposit is for less than Rs 1 lac and for maturity period of less than 3 years no penalty would be levied for the premature payment of your deposit. You can avail a loan at a very nominal net cost of 2 %. Nomination facility is available. Free account transfer facility among our vast net work of branches. The interest would get compounded quarterly which gets you higher returns. Short term deposit account What is the period of deposit that I can choose? You can choose between 15 days to 179 days. What is the minimum amount of deposit that I have to deposit? You can deposit in multiples of Rs 100/- Can I withdraw the deposit as and when I require it? You are free to withdraw the deposit as per your requirement. Fixed deposit account Who can open this deposit account ? Individuals singly or jointly with another person, minors of 10 years of age independently or jointly with the natural guardians, institutions firms, societies and business concerns. What is the minimum amount that I have to deposit and for what period ? You can deposit in multiples of Rs 100/- for a period of 15 days to 120 months. At what intervals do I get periodical interest ? You can get interest at monthly (discounted), quarterly, half-yearly or yearly rests as per your choice. The interest will be automatically credited to your account with us. Recurring deposit account Why should I go for this scheme? For creating a fund for your children's education or marriage or to buy a car or some tour or an event, you can choose this popular account. Who can open this account? Individual (s) singly or jointly, minors of 10 years age independently or jointly with natural guardians. Can I withdraw the amount should I need in advance of maturity date? You can withdraw the amount as per your requirement. You will also be get the accrued interest as per the rules applicable to the premature payment of term deposits. You can also avail loan against the deposit amount at a nominal net cost of 2 %. What about the amount of installments and deposit period? You can choose installments with minimum of Rs 100/- and multiples of Rs 10/- thereof for period ranging from 12 months to 120 months. There is no maximum limit for monthly installment amount. Senior citizen deposit scheme Can I open a joint account with a non-senior citizen? Yes, you can. What is the extra rate of interest I am offered under the scheme? You are offered 0.50% extra interest over the normal rate of interest on term deposits of 1 year and above. Should I produce any proof of my age? Yes if you are depositing the amount for the first time. You need to produce an age proof certificate. Sri Venkateshwara Nityaannadana scheme What is the minimum deposit that is accepted under this scheme? A minimum deposit of Rs 1000/- and multiples thereof. For what purpose TTD uses this deposit? TTD uses the interest amount of these deposits for feeding the devotees at Tirumala. Are there any tax exemptions in this scheme? All donations are exempt from Income Tax under section 80-G. Are there any other benefits/facilities offered to me? For donations for Rs 5 lac and Rs 10 lac TTD offers an annual three day free stay at Tirumala for donors and their family and free aarti darshan. Sri Venkateshwara Pranadana scheme What is the special purpose of this scheme? TTD uses these donations for providing free medical facilities, blood banks, artificial limbs, physiotherapy and implants to the poor. What are the tax benefits offered under this scheme? All donations under the scheme are exempt from Income Tax under section 80-G. What are the special facilities offered to the donors by the TTD? TTD offers donors of Rs 5 lac and above a three-day stay at Tirumala with VIP darshan from the cellar at Vaikuntam. Do you offer any thing more under the scheme? In memory of your first visit, we present you a gold-plated silver medallion of the Lord. Advances: Housing loans Can I get an in-principle approval and actually avail of the loan later? What we do is, before you choose the house you want to buy, we give you an in-principle approval based on your income and capacity to repay. This makes the entire process of identifying and buying a house easier and more flexible. You won't be under pressure to identify a house before you know how much funds the bank would make available to you. And how long is this approval valid? This in-principle approval is valid for 3 months to give you sufficient time to choose a flat/house of your choice. How long does it take to get my loan sanctioned? Your loan can get sanctioned in a matter of days provided you have all the documents in place. What are the documents that I need to provide? You will need to furnish the following documents along with the completed application form: Passport size photograph Proof of residence (This applies only to new or non-bank customers, and could be either a PAN identity card, voter identification card or passport) Sale Deed/ Agreement of Sale Bank account Statement or passbook, for the last six months For employees or people in service, you also need to provide: Salary certificate and other information, if any, about your repayment capacity Form 16 or a copy of the Income Tax Returns for the last 2 years For self employed and other IT assessees: IT returns for the last 3 years· Receipts of advance tax paid Any other information about your repayment capacity In addition to the above mandatory documents, you are also required to furnish one or more of the following documents wherever applicable:· Letter of allotment from the housing board or society Copy of the approved plan Permission for construction Copy of the relative order in the case of conversion of agricultural land. not required where the house/flat has been constructed by an approved builder Do I require any additional documents for an old house/flat? In the case of an old existing house (normally not more than 15 years old) you will need to get a valuation certificate from approved valuers as well as a certificate from a government approved architect /structural engineer regarding the condition of the flat/house as well as its remaining life. This will give you the comfort of knowing that the property you are purchasing is of sound construction. Can I apply jointly with my spouse? Will both our salaries be taken into consideration for calculating the loan amount? Yes, your salaries can be clubbed for the purpose of calculation of the eligible loan amount. This can be done either when the property is jointly held with the spouse or the spouse stands as a guarantor. Thus, we ensure a great deal of flexibility in the entire exercise of financing your house. How much loan can I avail of? There is no upper ceiling on the amount of housing that can be granted. The maximum loan amount you can avail of depends on the property and your repayment capacity. Your repayment capacity is determined on the basis of your income, age, assets and liabilities. Depending on your age, you can get a loan of up to 48 times your net monthly income. Your spouse's income can also be taken into account. The expected rental on the property to be purchased also could be considered. What security do I have to furnish? SBH requires a mortgage of the property for which the loan is being taken. Where mortgage can't be provided, other tangible security would need to be provided. The title of the property should be clear, for which a certificate would be required from the Bank's approved advocate, safeguarding your interests as well as Bank's interests. Additional security may be required where the house is under construction. This may be for an interim period, by way of tangible security or guarantees from sound and solvent individuals. What are the processing fees charged by the bank? The processing fees have been waived . Compare this with 1.5-2% charged by the others. What is EMI? EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Where all can I avail SBH Housing loans? We have a network of branches across the country to cater to the housing loan requirements of individual customers. . If I have funds, is it still worthwhile to avail of a bank loan for buying a house? It is generally advantageous to take a Housing loan as it would enable you to get tax exemptions. However, please consult your CA/ income tax advisor to know benefits/disadvantages in your specific case. What are the tax benefits of taking an SBH Housing Loan? Under the Indian Income Tax Act of 1961, resident Indians are eligible for certain tax benefits on principal and interest components of a loan. Under Section 24(1), interest repayment of Rs.1,50,000 per annum qualifies for tax saving under the new Finance Act, provided the property is acquired or constructed with capital borrowed after April 1, 1999 and the acquisition/construction is completed before April 1, 2003 , and the property is self occupied.. An added benefit under Section 88 on repayment of principal amount to the extent of Rs 20,000 is also available on the same loan. How does SBH housing loan compare with those offered by other institutions? There is total transparency with regard to the rate of interest and the fees charged by us. - We offer housing loans with the lowest equated monthly installments, i.e. you pay substantially less in repayments as compared to others. - We have no upper limit. The loan amount is determined by repaying capacity and the value of property to be financed. - We offer loans for the longest tenors (up to 20 years) with the flexibility provided to reduce the tenor by prepaying the loan without any penalty. - We provide finance for both new and old houses/flats and for construction of houses. Cost of furnishing the house can also be included in the project cost. - With an SBH housing loan you can choose between fixed rates of interest and floating interest rates. - We levy interest based on daily reducing balance, unlike the annual reducing balance method used by several other financiers/banks. How do I benefit if the interest is calculated on a daily/monthly reducing balance? On an annual reducing balance method, you will continue to pay interest on amounts you repay during the coming one year as the interest for the year is determined on the basis of the balance outstanding at the beginning of the year. In the case of the daily reducing balance, which is the methodology we employ, your interest is calculated only on the outstanding loan amount, which reduces every time you pay off your EMIs or make any prepayments. This in essence lowers your effective rate of interest significantly. Education loans What are the important documents that I need to provide? You will need to furnish the following documents along with the completed application form. Relevant information would relate to the guardian and the student both, when the loan is jointly taken. · Mark sheet of last qualifying examination for school and graduate studies in India · Proof of admission to the course · Schedule of expenses for the course · Copies of letter confirming scholarship, etc. · Copies of foreign exchange permit, if applicable. · 2 passport size photographs · Statement of Bank account for the last six months of borrower · Income tax assessment order not more than 2 years old (of the parent) · Brief statement of assets and liabilities of borrower If you are not an existing bank customer you would also need to establish your identity and give proof of residence. Are there any charges or processing fee? There is no additional charge or processing fee. Since there is a moratorium period, how will my repayments be determined? The outstanding interest for the moratorium period will be added to the loan amount at the time of commencement of the repayment. The EMI will be determined on this amount at the time the repayment is to commence. What is EMI? How is it calculated? EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components. Your EMI would be calculated depending on the tenor you choose, to repay your loan. The EMI would be higher if you choose to repay within a shorter period as against a longer-term loan. A shorter repayment period, however, reduces your interest cost over the term of the loan. What is the repayment schedule like? The repayment would begin one year after the course period or six months after you get a job, whichever is earlier. You are expected to pay a minimum amount equivalent to the EMI on a monthly basis. However, you can choose to pay more than the EMI, and we do not charge any prepayment penalty. Where can I avail of a SBH educational loan? The loan is available from all our branches. Car loans What makes of cars does SBH finance? We finance all makes of new cars, and secondhand cars not more than four years old. Thus, you are free to choose any vehicle you want to own. What are the documents I would be required to submit? You would need to submit only the following documents along with the completed application form if you are an existing account holder of the Bank: Bank statement for the last 6 months Two passport size photographs Latest salary slip· Form 16, in the case of salaried persons IT returns for the last two financial years, in the case of self employed individuals and professionals If you are not an existing bank customer you would also need to establish your identity and give proof of residence. Can my spouse's income be included for calculating the loan amount? Yes, your spouse's income can be included provided he/she guarantees the loan. What is the repayment schedule like? The minimum amount that you are expected to pay every month is the EMI. You are allowed to pay more than the EMI if you wish to, and we do not charge any prepayment penalty. What is EMI? How is it calculated? EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Your EMI would be calculated depending on the tenor you choose, to repay your loan. The EMI would be higher if you choose to repay within a shorter period as against a longer-term loan. Our branches have an EMI chart, based on which your EMI would be arrived at. How does SBH car loan compare with those offered by other institutions? There is total transparency with regards to the rate of interest and the fees charged by us. We offer loans for the longest tenors (84 months) with the flexibility provided to reduce the tenor by prepaying the loan without any penalty. We also provide finance for both new vehicles as well as old cars (not more than five years old) With an SBH car loan you can also choose between fixed rates of interest and floating interest rates. We levy interest based on daily reducing balance, unlike the flat rate of interest or interest based on annual reducing balance method used by several other financiers We provide finance for one-time road tax, registration fee and insurance premium We do not charge any advance EMIs How do I benefit if the interest is calculated on a daily reducing balance? In a flat rate of interest (which is what many other players charge), the interest is calculated for the full tenor of the loan on the amount advanced. In effect you continue to pay interest on the amount you have already repaid. Similarly, on an annual reducing balance method, you will continue to pay interest on amounts you repay during the coming one year. In the case of the daily reducing balance, which is the methodology we employ, your interest is calculated only on the outstanding loan amount, which reduces every time you pay off your EMIs or make any prepayments. This in essence lowers your effective rate of interest significantly. Personal loans What are my loan limits? Your personal loan limit would be determined by your income and repayment capacity. Normally you can avail a loan upto Rs.3.00 lacs. Can my spouse's income be included for calculating the loan amount? Yes, your spouse's income can be included provided he/she guarantees the loan or the loan is taken jointly. What are the important documents that I need to provide? You will need to furnish only the following documents if you are an existing customer of the Bank: Passport size photograph Proof of official address for self employed individuals and professionals. This can include shop and establishment certificate/Lease deed/Telephone Bill Latest Salary clip and Form 16, in the case of salaried persons IT returns for the last two financial years, in the case of self employed individuals and professionals If you are not an existing bank customer you would also need to establish your identity and give proof of residence. Do I have to pledge some form of security? No security is required. What is the repayment schedule like? The minimum amount that you are expected to pay every month is the EMI. You are allowed to pay more than the EMI if you wish to, and we do not charge any prepayment penalty. What is EMI? EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Use the EMI calculator to find out your monthly payments based on the loan amount, the rate of interest and the repayment period. Choose the combination that best meets your financial resources and requirements. Can I prepay the loan? Are there any penalties? Yes, you can prepay the loan partly or fully, at any stage, without any prepayment penalty. What is the processing fee? Are there any other charges? Processing charges are 1 per cent of the loan amount. This is amongst the lowest fees in the industry. Processing fees have to be paid upfront. There are no hidden costs or other administrative charges. How does SBH Personal loan compare with those offered by other banks? There is total transparency with regard to the rate of interest and the fees charged by us. - We offer personal loans at the cheapest rates of interest, with no security or collateral - We offer loans for the longest tenors (72 months), with the flexibility provided to reduce the tenor by prepaying the loan without any penalty. - We provide finance for any personal need or requirement, the total amount being determined on the basis of repaying capacity. - With an SBH personal loan you can choose between fixed rates of interest and floating interest rates. - We levy interest based on daily reducing balance, unlike the annual reducing balance method used by several other banks. How do I benefit if the interest is calculated on a daily reducing balance? On an annual reducing balance method, you will continue to pay interest on amounts you repay during the coming one year as the interest for the year is determined on the basis of the balance outstanding at the beginning of the year. In the case of the daily reducing balance, which is the methodology we employ, your interest is calculated only on the outstanding loan amount, which reduces every time you pay off your EMIs or make any prepayments. This in essence lowers your effective rate of interest significantly.
|
|||
| Customer Rights | Forms | Government Business | Tenders | Sports | Links | Customer Support |