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| Eligibility
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All individuals who are eligible
to open an account with the bank duly complying with the
simplified KYC norms are eligible to open accounts under ‘SBH
Super Saver Term Deposit Scheme’.
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| Period
of Deposit
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These deposits shall be accepted
for tenor of 5 to 10 years.
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| Rate
of Interest
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7.50%
p.a.
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The
interest rate payable to senior citizens (60 years and
above) shall be 0.50% above the rate applicable to other
depositors i.e. 8.00% p.a. (7.50%+ 0.50%)
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The
interest rate payable on Staff and Retired staff deposits
under this scheme shall be 1% above the special rate i.e.
8.50%.
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The
interest rate payable to Bank’s retired staff who are 60
years and above shall be 9% p.a. (i.e., 7.50%+1%+0.50%)
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| Premature
Withdrawal
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The rate applicable in case of
premature withdrawal of these deposits shall be 1.00% below the
rate applicable for the period for which the deposits remained
with the bank. The applicable interest rate shall be based on
interest payable on Special Term Deposits. Staff and Retired
staff shall also bear penalty as applicable to other depositors
in case of premature withdrawal of these deposits.
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| Others
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Loan facility shall be made
available against these deposits.
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Click here
for account opening form
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