SB GOLD SCHEME

ELIGIBILITY

Individuals, Joint accounts, Minor accounts, Illiterates, HUF, Non-corporate bodies, Clubs, Societies, Associations, Schools, Trusts, Executors/Administrators, Govt. bodies, Semi-Govt. Departments, Recognised PF A/cs, Capital Gains Accounts

INITIAL BALANCE

Minimum Rs. 50,000/-

BALANCE IN THE ACCOUNT

Minimum average monthly balance of Rs.50,000/-

NATURE OF DEPOSIT

Running (Operating) account

INTEREST RATE

3.50% p.a.

PERIODICITY OF INTEREST PAYMENT

Interest is payable half yearly, every February and August on the minimum balance in the account, between the 10th and last day of the month.

SPECIAL RATE FOR SENIOR CITIZEN

Not applicable

SPECIAL RATE FOR BULK DEPOSITS

Not applicable

TDS

Not applicable

NOMINATION FACILITY

Available

LOAN AGAINST DEPOSIT

Not permitted

VALUE ADDED FACILITIES

• DD facility at 50% concession i.e. Re.1/- per Rs.1000/- or part thereof
• Funds transfer under NEFT and RTGS(Canspeed) at 50% concession
• Free Debit Card (as per Bank's rules for issue of Debit Cards)
• Issue of free Credit Card to the 1st account holder (for others as per existing rules of the Bank)
• Waiver of demat account opening charges
• Free Anywhere Banking (AWB) facility
• Sweep-in Sweep-out facility: Sweep-in into term deposit of amounts beyond Rs.1,00,000/- at the request(one time) of the customer mentioning the tenor of the term deposit.
• Name printed cheque book.
• Free funds transfer facility through Internet Banking
• Free Telebanking facility
• No ledger folio charges.

NON MAINTENANCE OF AVG. MONTHLY BALANCE

In case of non-maintenance of average monthly balance of Rs.50,000/- during the month, the concessional facilities provided under the scheme will be withdrawn from the succeeding month by sending a notice of withdrawal of concessional facilities.

APPLICATION AND DOCUMENTS

Application
Specimen Signature Card
Form 60 or 61 (if customer does not have PAN Card)
Photograph of depositor/s (2 copies)
Proof of address as per KYC Norms
Any other related documents applicable to Students, Minor, HUF, Trusts etc.

Application
Specimen Signature Card
Form 60 or 61 (if customer does not have PAN Card)
Photograph of depositor/s (2 copies)
Proof of address as per KYC Norms
Any other related documents applicable to Students, Minor, HUF, Trusts etc.