State Bank of India (SBI) is the largest state-owned banking and financial services company in India. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two presidency banks, Bank of Calcutta and Bank of Bombay to form Imperial Bank of India, which in turn became State Bank of India. The government of India nationalized the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India.

SBI provides a range of banking products through its vast network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). The State Bank Group, with over 16,000 branches, has the largest banking branch network in India.Its also considered as the best bank even abroad ,having around 130 branches overseas [including 1 ADB]and one of the largest financial institution in the world . With an asset base of $352 billion and $285 billion in deposits, it is a regional banking behemoth. It has a market share among Indian commercial banks of about 20% in deposits and advances, and SBI accounts for almost one-fifth of the nation's loans.[2]

The State Bank of India is the 29th most reputed company in the world according to Forbes.[3] Also SBI is the only bank to get featured in the coveted "top 10 brands of India" list in an annual survey conducted by Brand Finance and The Economic Times in 2010. [4]

PERSONAL BANKING

State Bank of India offers a wide range of services in the Personal Banking Segment 

SBI Term Deposits SBI Loan For Pensioners

SBI Recurring Deposits Loan Against Mortgage Of Property

SBI Housing Loan Loan Against Shares & Debentures

SBI Car Loan Rent Plus Scheme

SBI Educational Loan Medi-Plus Scheme

SBI Personal Loan Rates Of Interest

e-Invest (ASBA) - IPO

 

 

TERM DEPOSITS 

Now you can earn a higher income on your surplus funds by investing those with SBI.Its

provide security, trust and competitive rate of interest.

Flexibility in period of term deposit from 15 days to 10 years.

Affordable Low Minimum Deposit Amount: You can open a term deposit with SBI for a

nominal amount of Rs.1000/- only.

Flexibility in choosing the amount you wish to invest and the maturity period.

 

DOMESTIC TERM DEPOSITS

The revised interest rates for Domestic Term Deposits 'Below Rupees One Crore' effective from the 14.02.2011 would be as under:   

 

Tenors Existing w.e.f.

03.01.2011

  Revised w.e.f.

14.02.2011

7 days to 14 days 4.00 7 days to 14 days 4.00

15 days to 45 days 5.00 15 days to 45 days 5.00

46 days to 90 days 5.50 46 days to 90 days 5.50

91 days to 180 days 6.00 91 days to 180 days 6.00

181 days to less than 1 year

7.75 181 days to less than 1 year 7.75

1 year to 554 days 8.25 1 year to 554 days 8.25

555 days 9.00 555 days 9.25

556 days to less than 2 years

8.25 556 days to less than 2 years

8.25

2 years to 999 days 8.75 2 years to 999 days 8.75

1000 days 9.00 1000 days 9.25

1001days to less than 3 years

8.751001days to less than 3 years

8.75

3 year to less than 5 years 8.25 3 year to less than 5 years 8.25

5 years to less than 8 years 8.50 5 years to less than 8 years 8.50

8 years and up to 10 years 8.75 8 years and up to 10 years 8.75

Term deposits for maturity period of “7 days to 14 days” will also be accepted for amounts of below Rs. One Crore.

There shall be no premium in rate of interest for single domestic term deposit of ‘Rs.15 lakhs

but less than Rs.1 Crore’ of any maturity. SBI TAX SAVINGS SCHEME, 2006 SBI 555 DAYS

SBI 1000 FLOATING RATE TERM DEPOSITS (FRTD) REINVESTMENT PLAN

SBI MODS RECURRING DEPOSIT ANNUITY DEPOSIT SCHEME SBI FLEXI DEPOSIT SCHEME SBI TAX SAVINGS SCHEME, 2006

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A unique product which offers higher rate of interest alongwith tax benefits.Specially designed to cater to the needs of the Income Tax assessees.The distinctive features of this scheme are as below:

Purpose

To enable our customers to place long term deposits to earn higher rate of interest and also to avail the tax benefits under section 80C of Income Tax Act, 1961.

Eligibility

Resident assessee for himself/ herself as an individual or in the capacity of the Karta of the Hindu undivided family, having Income tax Permanent Account Number

Mode of Operation

Singly or Jointly

Minimum Deposit

Rs. 1,000/- or multiples thereof

Maximum Deposit

Not exceeding Rs. 1,00,000/- in a year

Type of account

Term Deposit (TD) account / Special Term Deposit (STD) account

TenureMinimum: 5 years - Maximum: 10 years

Rate of Interest

As applicable to Term Deposits

Premature No term deposit shall be encashed

withdrawalbefore the expiry of five years from the date of its receipt.

Availability Presently at CBS Branches

Nomination Facility

Available

Loan Facility Not Available

Transferability among branches

Allowed

 SBI 1000

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You can earn a higher income on your surplus funds by investing in Term deposits for a tenure of 1000 days which is applicable for all market segments

 

         Affordable Low Minimum Deposit Amount: of Rs.1000/- only          Flexibility in choosing the amount you wish to invest with No maximum Limit for

investment.         Please check our Interest Rates online or simply email through our Helpline.         SBI 1000 is available at all SBI Branches          Easy and convenient access of 24X7 information at SBI Internet Banking .          Nomination Facility - Available.

Safety - We understand the value of your hard earned money and continue to deliver on our promise of safety and security over 200 years.

 

Liquidity

Loan /overdraft facility: You can avail a loan/overdraft against your deposit. SBI provides you loan / overdraft up to 90% of your deposit amount at nominal cost. So you continue to earn interest in your deposit and still can meet your urgent financial requirements.

 

Premature Withdrawal

Interest to be charged on premature withdrawal of term deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank. Transferability- Transfer of Term Deposits between our wide network of branches without any charge.

Compounding / Flexible / Timely Payment of Interest - Under our Special Term Deposit Scheme, interest accrues in your SBI 1000 account and gets compounded quarterly. We assure timely delivery of the proceeds of your deposit with interest, on maturity. Flexibility of payment on maturity through Cash (subject to prevalent Income Tax Act), Banker's Cheque, Credit in Savings Bank/Current account.

 

Flexibility to convert your Special Term Deposit to Term Deposit and vice versa

You can convert your special Term Deposit to a Term Deposit to receive monthly/quarterly interest payments to match your financial requirements. Quarterly interest at calendar quarter is also available.

You can also convert your Term Deposit to a Special Term Deposit, which provides compounded rate of interest to multiply your money faster.

Tax Implications.

Tax Deductible at Source, as per Income Tax Act.

 

Automatic Renewals

There is no need for you to keep track of the maturity of your deposits. Your deposits with us will be renewed automatically, post maturity and you continue to earn interest for same period as that of your matured deposit, at the interest rate prevailing at the time of maturity. Automatic renewals take place where there are no standing instructions for renewal.

 

SBI 1000 product may be withdrawn at short notice.

FLOATING RATE TERM DEPOSITS (FRTD)

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Product Features: Floating Rate Term Deposit

(Scheme w.e.f. 06th September 2010)

 

Scheme Name Floating Rate Term Deposit

1 PurposeFloating rate term deposit will allow the investor to take advantage of any interest rate changes even in the short term

2Who Can Open The A/C

Any Individual

Singly

Or jointly

Minor (himself/herself or through his/her guardian)

Karta of HUF

3Minimum & Maximum amount

` 1,000/- only and thereafter in multiple of ` 1,000/-

The Maximum Amount that can be invested under this Scheme is `15 lacs

4 Joint accounts

Two person can open joint accounts with Either or survivor*,

Former or survivor,

Later or survivor,

Both or survivor**,

Both jointlybasis.

For more than two persons it should be All of them or survivors or last survivor,Any one or more of them or survivors or the last

survivor.A particular person during his/her life time or survivors

jointly or the last survivor*Either or survivor It means either of the depositors can operate the account, and after the death of one of the depositor survivor can operate the account.

**Survivor the person who remains alive after the death of other account holder.

 

In joints accounts if one or more of the depositor stop the operation of the accountit will be operated by all the account holders jointly.

5Period of deposit

1 year 3 years 5 years

6 Interest Rate

Tenor Interest rate

1 year 50 bps below Base rate

3 years 25 bps below Base rate

5 years at Base rate

The Interest Rate will be reset, every time the Base Rate is changed, with an upper cap of 200 basis points above the Fixed Term Deposit rate

7Interest Payment

Interest will be paid quarterly/ monthly discounted

8 Liquidity

One can avail a loan/overdraft against term deposit. At the discretion of the Branch Manager overdraft/loan up to

90% of FRTD amount may be provided. The loan/overdraft will be given at interest rate of 1.5% p.a.above the interest rate paid on the deposit.

9Nomination facility

Nomination facility is available free of charge.

10TD Account Transfer

FRTD Account can be transferred to any branch of State Bank of India in India.

11 Minor's accountA minor alone, cannot open an FRTD as the maturity amount cannot be determined at the time of opening the FRTD. Minor to be can open FRTDs jointly with his/her guardian only.

12

Automatic Renewals

 

The deposits will be renewed automatically for same period as that of your matured deposit, at the interest rate prevailing at the time of maturity.

Automatic renewals take place where there are no standing instructions for renewal.

13Tax deduction at source

If the interest paid/ payable on deposit exceeds `10,000/- per customer, per year, per branch.

14FRTD maturing on holidays

A FRTD falling due on Sunday or holidays is paid on the succeeding working day and will be paid with interest for the intervening holiday at the originally contracted rate.

15

Premature Withdrawal

 

Interest to be paid on premature withdrawal of term deposits at 1.00% below the Term Deposit rate applicable for the period deposit has remained with the Bank

16TD cash payment

Under no circumstances TD payment (together with interest) of ` 20,000/- and above shall be made in cash.

17 Senior Citizen Senior Citizens will be paid interest at 50 basis point higher

and Staff Interest rates

that applicable FRTD rate Staff will be paid interest at 100 basis point higher than

applicable FRTD rate 

REINVESTMENT PLAN

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SPECIAL TERM DEPOSITS

This plan helps you to earn interest on interest, thus giving you a two-fold income. You deposit your money with us for any period between six months to 10 years, and we pay you interest on your deposited money plus on the interest you earn. Thus your interest gets compounded every quarter giving you higher returns.

Affordable/Very Low Minimum Deposit Amount You can open a Special Term Deposit with SBI for a nominal amount of Rs. 1000/- only.

Highlights

 

Safety - We understand the value of your hard earned money and continue to deliver on our promise of safety and security over 200 years.

Liquidity

Loan /overdraft facility: You can avail a loan/overdraft against your deposit.SBI provides you loan / overdraft upto 90% of your deposit amount at nominal cost.So you continue to earn interest in your deposit and still can meet your urgent financial requirements.

 

Premature Withdrawal

 

Interest to be charged on premature withdrawal of special term deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank. 

Transferability- Transfer of Special Term Deposits between our wide network of branches without any charge.

 

Flexible / Timely Payment of Interest - We assure timely delivery of the proceeds of your deposit with interest, on maturity.Flexibility of payment on maturity through Cash

(subject to prevalent Income Tax Act), Banker's Cheque, Credit in Savings Bank/Current account.

 

Others

Special Term Deposits are available at all SBI Branches Easy and convenient access of 24X7 information at SBI Internet Banking. Nomination Facility - Available.

 

Tax Implications.

 

Tax Deductible at Source, as per Income Tax Act.

 

Automatic Renewals

 

There is no need for you to keep track of the maturity of your deposits.Your deposits with us will be renewed automatically, post maturity.And you continue to earn interest for same period as that of your matured deposit, at the interest rate prevailing at the time of maturity.Automatic renewals take place where there are no standing instructions for renewal.

 

Flexibility to covert your Term Deposit to Special Term Deposit and vice versa

 

You can convert your Term Deposit to a Special Term Deposit, which provides compounded rate of interest to multiply your money faster.

You can also convert your Special Term Deposit to a Term Deposit to receive monthly/quarterly interest payments to match your financial requirements.

SBI MODS

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MULTI OPTION DEPOSIT SCHEME

The Multi Option Deposit (MOD) Account is a combination of Savings Bank or Current

Account with Term/ Special Term Deposit Accounts, so that one can securely write cheques

upto the balance in the MOD account or upto the drawing power available as overdraft in the

Current account.Withdrawals through ATMs can also be conveniently made.

 

Exclusive Features:

Complete Liquidity.

Convenience of Overdraft.

Earns a higher rate of interest on your deposit, without the dilemma of locking it for a

long period.

 

At the time of need for funds, withdrawals can be made in units of Rs.1,000/- from

the Deposits by issuing a cheque from Savings Bank Account or through overdraft

facility from Current account.

Flexibility in period of Term Deposit from 1 year to 5 years.

You can open a MOD account with SBI for a minimum amount of Rs. 10,000/- only.

MOD Scheme is available at all SBI Branches

Easy and convenient access of 24X7 information at SBI Internet Banking

Nomination Facility - Available. 

  

 

 

Other Facilities

Type of Deposit Linked to Account Type Facilities

Term Deposit Savings Bank Account A Term Deposit (Interest paid monthly or quarterly) under MOD is linked with a Savings Bank account permitting to withdraw funds from Term Deposits in units of Rs.1000/- by issuing a cheque on Savings Bank Account

Additional interest can be earned by routing your interest receivables from Term Deposit to your Savings Bank Account

Term Deposit Current Account A Term Deposit (interest paid monthly or quarterly) under MOD scheme is linked with a Current account with overdraft facility permitting you to withdraw funds

upto the available Drawing Power.

Special Term Deposit

Savings Bank Account A Special Term Deposit (interest compounded quarterly) under MOD is linked with a Savings Bank account permitting to withdraw funds from Special Term Deposits in units of Rs.1000/- by issuing a cheque from Savings Bank account.

Special Term Deposit

Current Account A Special Term Deposit (interest compounded quarterly) under MOD is linked with a Current Account with overdraft facility permitting you to withdraw funds upto the available Drawing Power.

 

Tax Implications

Tax Deductible at Source as applicable to Term Deposits/ Special Term Deposits.

 

Automatic Renewals

As applicable to Term Deposits/ Special Term Deposits.

 

Premature Withdrawal

As applicable to Term Deposits/ Special Term Deposits.

Regular Updates

A quarterly statement showing the value of the deposits including interest, is issued.

Nomination Facility - Availa

ANNUITY DEPOSIT SCHEME [Print Page]

1. NAME Annuity Deposit Scheme

2. Purpose To enable the depositor to pay one timelump sum amount and to receivethe samein Equated Monthly Instalments (EMIs),

comprising a part of theprincipal amount as well as intereston the reducing principal amount,compounded at quarterly restsand discounted to the monthly value.Payment of interest willstart on the anniversarydate of the month following the month of deposit. If that date is non-existent(29th, 30th & 31st),it will be paid on the1st day of the next month.

3. Segment Personal segment

4. EligibilityIndividuals, including minors insingle or joint names.

5. Mode of HoldingSingly/ Jointly/ Jointly with survivorship benefits.

6. Type of account Annuity (Term) Deposit account.

7. Available at At all branches

8. Deposit amount

Maximum: No LimitMinimum- Based on minimum monthly annuityRs 1000/- for the relevant period.In no case Minimum Amount of deposit should be below Rs 25,000.00

9. Tenure 36/60/84 or 120 months

10. Rate of interestAs applicable to the Term Deposits of tenure as opted by the depositor.

11. Receipts/ Advices

Universal Passbook will be issued to the depositors.No Receipts will be issued to the depositors.

12.Premature Payment

Permitted only in case ofdeath of depositor.

13. Account opening As applicable to Term Deposit/ Special Term Deposit

14. Nomination As applicable to deposit accounts.

15. Loan facility

At the discretion of the Branch Manager overdraft/loan upto 75%of the balance amount of annuity may be granted on special cases.It will be the same as applicable to TRD/STDRs. After disbursal of OD/loan,further annuity payment will be deposited in loan account only.

16. Others

Other Terms and conditions such as transferability among branches,Tax Deduction at Source (TDS),as applicable to normal TD/STD accounts will be applicable to thisscheme.

Interest amount calculation is rounded off to the lowest rupee value. Due to this,is there can be variation in the last annuity instalment.

SBI FLEXI DEPOSIT SCHEME

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1. Name of the product SBI Flexi Deposit

2. Purpose

To enable our customers to placelong term deposits to earn attractive rateof interest along with flexibility in choosing the deposit amount.

3. Segment Personal

4. EligibilityResident individuals,including minors

5. Mode of Holding Singly or jointly

6. Type of account Recurring Deposit

(Variable deposit) account.

7.Account opening procedure

Extant procedure for opening a normal Recurring Deposit account will be applicable.

8. Period of depositMinimum - 5 years Maximum - 7 years

9. Available at All branches (except specializedcredit intensive branches) all over India.

10. Minimum deposit amount

Rs. 5,000/- per Financial Year (plus in multiples of Rs. 500/-) minimum of Rs. 500/- at any one instance. Deposits can be made anytime during a month and any number of times.Penalty for default inpayment of minimum deposit willbe Rs.50/- per Financial Year

11. Maximum deposit amount Rs.50,000/- in a Financial Year.

12. Rate of interest

As applicable to Term deposits.Interest will be compounded at quarterly intervals, based on the balanceoutstanding on the last date of each month.Deposit on maturity can be withdrawn on the last date of the month in which it matures.

13. Tax deduction at source Interest payable will be subject to TDS.

14. Premature closure

The rate applicable in case of premature withdrawal shall be 1.00% below the rate applicable for the periodthe deposit has remained with the Bank.

15. Nomination As applicable to deposit accounts.

16. Loan facility As applicable to Term Deposits

17.Transferability among our branches

Allowed

18. Others Other terms and conditions such as,KYC guidelines, etc as

applicable to other deposit accounts will be applicable to this scheme./SPAN>

 

 

RELATED LINKS ›

Maturity Value Calculator

LIST OF PBB BRANCHES

Highlights

 

Safety - We understand the value of your hard earned money and continue to deliver on our

promise of safety and security over 200 years.

Liquidity

Loan /overdraft facility: You can avail a loan/overdraft against your deposit. SBI provides

you loan / overdraft up to 90% of your deposit amount at nominal cost. So you continue to

earn interest in your deposit and still can meet your urgent financial requirements.

 

Premature Withdrawal

Interest to be charged on premature withdrawal of term deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank.

  Transferability- Transfer of Term Deposits between our wide network of        branches without any charge.Compounding / Flexible / Timely Payment of Interest - Under our Special Term Deposit Scheme, interest accrues in your account and gets compounded quarterly. Besides, we assure timely delivery of the proceeds of your deposit with interest, on maturity.Flexibility of payment on maturity through Cash (subject to prevalent Income Tax Act), Banker's Cheque, Credit in Savings Bank/Current account.

Term Deposits are available at all SBI Branches

Easy and convenient access of 24X7 information at SBI Internet Banking .

Nomination Facility - Available.

 Tax Implications.

 

Tax Deductible at Source, as per Income Tax Act.From 01.04.2010, the rate of TDS will be

higher of 20% or the applicable rate in all cases where valid PAN is not quoted by the

recipient. The declaration filed in 15G and 15H shall not be valid unless the person filing the

declaration furnishes his/her PAN in such declaration.

 

Automatic Renewals

 

There is no need for you to keep track of the maturity of your deposits. Your deposits with us

will be renewed automatically, post maturity and you continue to earn interest for same

period as that of your matured deposit, at the interest rate prevailing at the time of

maturity. Automatic renewals take place where there are no standing instructions for

renewal.

 

Flexibility to covert your Special Term Deposit to Term Deposit and vice versa

 

You can convert your special Term Deposit to a Term Deposit to receive

monthly/quarterly interest payments to match your financial requirements. Quarterly

interest at calendar quarter is also available.

You can also convert your Term Deposit to a Special Term Deposit, which provides

compounded rate of interest to multiply your money faster.

RECURRING DEPOSIT

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RECURRING DEPOSIT

Want to create a fund for your children's education or marriage or to buy a car or for a

dream holiday? Whatever may be your financial goals, through our Recurring Deposit

Scheme you can save a little every month so that at the time of need you have sufficient

funds to achieve your financial goals.Recurring Deposit provides you the element of

compulsion to save at high rates of interest applicable to Term Deposits alongwith liquidity

to access that savings any time.So set aside a small amount every month and earn at

compounded rates of interest.

 

Wide Choice in Period of Deposit

Flexibility in period of deposit with maturity ranging from 12 months to 120 months.

Low minimum monthly deposit amount.

You can start a Recurring Deposit with SBI for a monthly instalment of Rs.100/- only.

 

SBI Term Deposit Rates Apply

Check out our Interest Rates Online or simply email through our Helpline

Choose the amount you wish to invest and the maturity period.

Highlights

Safety

We understand the value of your hard earned money and continue to deliver on our

promise of safety and security over two centuries.

Liquidity

Loan /overdraft facility: You can avail a loan/overdraft against your deposit.SBI

provides you loan / overdraft upto 90% of your deposit amount at nominal cost.So

you continue to earn interest in your deposit and still can meet your urgent financial

requirements.

Transferability

Transfer of Recurring Deposit accounts between our wide network of branches

without any charge.

Regular Instalments to your Account

Now you have motivation/compulsion to save a chosen amount every month

and create a fund, which helps you to meet your future financial needs.

Recurring Deposits are available at all SBI Branches

Easy and convenient access of  information at SBI Internet Banking

 

Other Benefits

 

§Nomination Facility - Available

 

§Regular Instalments to your Account

–Save in your account through Fixed Monthly Instalments.

–Monthly Instalments can be deposited on any working day of the month.

–Delayed monthly instalments attract penalty.

–Instalments payable in multiples of Rs.10/-

 

Free Fund Transfer

Free transfer of your funds through standing instructions from your Current or Savings Bank

Account to your Recurring Deposit Account every month for the payment of your

instalments, so that you do not have to worry about regular payments.

 

Regular Updates

You can monitor your deposit through SBI Internet Banking or through a passbook issued to

yo

WELCOME to SBI Home Loans

"THE MOST PREFERRED HOME LOAN PROVIDER" voted in AWAAZ Consumer Awards along with the MOST PREFERRED BANK AWARD in a survey conducted by TV 18 in association with AC Nielsen-ORG Marg in 21 cities across India.

SBI HOME LOANS now offers Interest Rates concessions on GREEN HOMES in accordance with SBI's commitment to Environment protection.

SBI Home Loans come to you on the solid foundation of trust and transparency built in the tradition of State Bank of India.

Best Practices followed in SBI mentioned below will tell you why it makes sense to do business with State Bank of India.

 

SBI Home Loans Unique Advantage

  Package of exclusive benefits.

  Low interest rates. Further, we charge interest on a daily reducing balance!!

  Low processing charges.

  No hidden costs or administrative charges.

  No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.

  Over 13,700 branches nationwide, you can get your Home Loan account parked at a branch nearest to your present or proposed residence.

PRODUCTS

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SBI EASY HOME LOAN

SBI ADVANTAGE HOME LOAN

SBI PREMIUM HOME LOAN

OTHER PRODUCTS

 

SBI EASY HOME LOAN – FOR LOAN AMOUNT UPTO Rs. 30 Lacs

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SBI Easy Home Loan is available up to 31st March 2011

 

Getting your dream home has become easier with SBI Easy Home Loan. With low interest rates for home loan under Rs. 30 lakhs category, SBI Easy ensures that you are not burdened with high interest for your home loan. Plus with over 13700 SBI branches nationwide you can get your Home Loan account parked at a branch nearest to your present or proposed residence.

 

a) SBI Easy Home Loan

(Base Rate: 8.25% p.a.)

Name SBI Easy   Home Loan

Facility Type Term Loan or OD as in SBI MaxGain. (OD facility will be available for loans above Rs.5 Lacs.)

Loan amount Upto (and including) Rs.30 Lacs

Interest Rate Card Rate applicable for the tenor of the loan – 1.50% above Base Rate, Present effective rate being 9.75% p.a.

Ist Year 1% discount over Card Rate, present effective rate being 8.75% p.a.

2nd and 3rd year

0.25% discount over Card Rate, present effective rate being 9.50% p.a.

4th year Card Rate

onwards

No Fixed Interest Rate option.

 

 Processing Fee

The revised processing fee structure (including service tax) is as under:

Loan Amount Processing Fee

Upto Rs.5 Lac Rs.1000/-

Above Rs.5 Lac and upto Rs.10 Lac Rs.2000/-

Above Rs.10 Lac and upto Rs.20 Lac Rs.5000/-

Above Rs.20 Lac and upto Rs.30 Lac Rs.7,000/-

SBI ADVANTAGE HOME LOAN – FOR LOAN AMOUNT ABOVE RS. 30 LACS & UPTO RS. 75 LACS

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SBI Advantage Home Loan is available up to 31st March 2011

 Only Floating Interest Rate 

(Base Rate: 8.25% p.a.)Name SBI  Advantage Home Loan

(Above Rs.30 Lacs and upto Rs.75 Lacs)

Facility Type Term Loan or OD as in SBI MaxGain.

Loan amount For Home Loans above Rs 30 lacs and upto Rs. 75.00 Lacs

Interest Rate Card Rate applicable for the tenor of the loan – 1.75% above Base Rate, Present effective rate being 10.00% p.a.

Ist Year 1.25% discount over Card Rate, present effective rate being 8.75% p.a.

2nd and 3rd year

0.50% discount over Card Rate, present effective rate being at 9.50% p.a.

4th year onwards

Card Rate

No Fixed Interest Rate option.

 

Processing Fee:

Loan Amount Processing Fee

Above Rs.30 Lac and upto Rs.50 Lacs Rs.7,000/-

Above Rs. 50 Lacs and upto Rs. 75 Lacs Rs. 8,000

BI PREMIUM HOME LOAN - Above Rs. 75 Lacs

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SBI Premium Home Loan – Above Rs.75 Lacs

 

(Base Rate: 8.25% p.a.)

Name SBI  Premium  Home Loan – Above Rs.75 Lacs

Facility Type

Term Loan or OD as in SBI MaxGain  upto Rs.1 Crore.

Loan amount

For Home Loans above Rs 75.00 lacs

Interest rate

Card Rate applicable over the tenor of the loan is 1.75% over the Base Rate, present effective rate being 10.00% p.a.

Concessions including discretionary concessions will be available over the tenor of the loan

No Fixed Interest Rate option.

 

Processing Fee

The revised processing fee structure (including service tax) is as under:

Loan Amount Processing Fee

Above Rs.75 Lacs and upto Rs.1 Crore Rs. 8,000/-

Above Rs. 1 Crore and upto Rs. 5 Crores Rs. 10,000/-

Above Rs. 5 Crores Rs. 20,000/-

HOME LOAN PRODUCT VARIANTS

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i)             SBI Maxgain (Home Loan as an overdraft)

An innovative and customer-friendly product to enable you to earn optimal yield on your savings and minimize interest burden on Home Loans, with no extra cost.

The loan is granted as an Overdraft facility with the added flexibility for you to operate your Home Loan Account like your SB or Current Account.

The product serves to minimize your interest cost by enabling you to park your surplus funds in ‘SBI-Maxgain’ (with the benefit to withdraw the surplus funds whenever you require), specially in the wake of low yields from other deposit/ investment avenues.

Minimum Loan Amount: Rs.5 lacs

Maximum Loan Amount:Rs.1 Crore

 

ii)           SBI Realty 

HOME LOANS FOR PURCHASE OF PLOT OF LAND FOR THE PURPOSE OF CONSTRUCTION OF A DWELLING UNIT

A unique product if you are on the lookout for a loan to purchase a plot of land for house construction. The loan is available for a maximum amount of Rs.1 crore and with a comfortable repayment period of upto 15 years.

House construction should commence within 2 years from the date of availment of ‘SBI-Realty’ Housing Loan

Customers are also eligible to avail another Housing Loan for construction of house on the plot financed above with the benefit of running both the loans concurrently.

(Other terms and conditions – as applicable to regular Home Loans)

iii)          SBI Home Plus

SBI Home plus is scheme is launched for granting personal loans to the banks home loans customers against the security of their house property. All home loans customers with a satisfactory repayment record of at least one year and who maintain a Savings bank or current account with us.

The loan can be used for any purpose, viz. extension/repair of house, purchase of car/ consumer durables, education / medical expenses of family members, personal expenses, etc. There will be no need to obtain documentary evidence for the end-use of funds. However a certificate from the customer in the application to the effect that the loan will not be used for speculative purposes would be obtained.

iv)          NRI Home Loans

HOME LOANS TO NON RESIDENT INDIANS (NRIs) AND PERSONS OF INDIAN ORIGIN (PIOs HOLDING A FOREIGN PASSPORT)

Eligibility

Individual(s) over 18years of age with a steady source of income who

Are Non Resident Indians (NRIs) holding a valid Indian passport.

Are persons of Indian Origin(PIOs) holding a foreign passport.

Minimum employment tenure in India/abroad not less than 2 years.

Loan Amount

The loan amount is to be determined on the basis of repayment capacity taking into account income, age, assets and liabilities, qualifications, stability of occupation, and employment prospects on return. The loan amount is subject to the following:

Minimum: Rs. 3 lacs

Maximum: Maximum permissible loan amount would be determined by EMI/NMI ratio criteria as applicable to regular Home Loans scheme for Resident Indian customers, which is 30% for Net Annual Income (NAI) upto Rs.2 Lac, 50% for NAI above Rs.2 Lac and upto Rs.5 Lac, 55% for NAI above Rs.5 Lacs and upto Rs.10 Lacs, 65% for above Rs.10 Lacs.

v)           SBI Tribal Plus

SPECIAL HOME LOAN SCHEME FOR HILLY/TRIBAL AREAS

'SBI-Tribal Plus' Home Loans, a Special Scheme designed for Hill/Tribal areas for extending financial assistance to individuals in such areas to :

a.    Purchase or construction of a new house / flat (without mortgage of land)

b.    Purchase of an existing (old) house / flat which is not more than 10 years old.

c.    Repair /Renovation/extension of an existing house or flat.

d.   Loans given  against Third Party Guarantee

      e.    Maximum loan Rs.10 lacs

 

      f.     Maximum Loan Term  15 years

  

vi)          Gram Niwas

HOME LOANS TO FARMING AND POOREST OF THE POOR IN RURAL AREAS

The Scheme covers all rural and Semi-urban centres. “Rural Area” for the purpose of the Scheme is the area comprised in any village including the area comprised in any town, the population of which does not exceed 50000 as per 2001 census. The scheme seeks to provide home loans to farming and poorest of the poor in rural areas for the purpose of purchase or construction of a house, repairs and renovation, purchase of plot for the purpose of construction of a house/shed etc.

vii)         Sahyog Niwas

RURAL HOME LOANS TO SELF HELP GROUPS

The Sahyog Niwas scheme has been instituted to finance the self help groups with a good track of payment record for 2 years, for on lending to members for housing in rural areas, covering the following purposes.

i) For the purchase or construction of a house exclusively or including the housing needs of activities carried by them. (Dairy shed, tailoring shed/shop, grocery stores etc.)

ii) For the renovation or repair of an existing house / shed

iii) For the purchase of a plot of land for the purpose of house construction.

iv) For the extension of existing house / work space to existing house / shed.

viii)       SBI Green Home Loan

State Bank of India has adopted a Green Banking Policy with an objective of contributing towards the fight against the adverse climate change. One of the initiatives approved by the

Board for this purpose is incentivizing customers who go in for Green Projects, i.e. those projects which reduce Carbon Emissions and promote Renewable Energy. “Green Housing” or “Green Home” is one of the types of projects identified for this purpose.

At present State Bank of India the only Bank in the country supporting the cause of Green Buildings by offering 0.25% concession in interest rate and waiver of processing fees, on the existing home loan products to customers who go in for Green Projects.

RELATED HOME LOAN PRODUCTS

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i)   Earnest Money Deposit (EMD) Scheme

Many Government agencies, like Urban Development Authorities and Housing Boards, periodically come out with schemes for sale of plots/houses, wherein applicants have to submit 10-20% of the cost of plot/house as Earnest Money Deposit (EMD) and allotments are made by draw of lots.

The SBI EMD scheme is designed for financing against earnest money for allotment of a house/plot. Individuals above 21 years of age and with a steady source of income are eligible to avail loans under this scheme.

Salient Features of the Scheme:

1. No minimum income criteria.2. Margin waived in al cases.3. Eligible for 100% of application money, subject to maximum loan amount of Rs.10

Lacs.

4. Waiver of security in all cases irrespective of the loan amount.The above mentioned features of the scheme are applicable subject to the following conditions:

1. Allotment letters/refund orders should be routed through SBI.

2. Lump sum amount equal to 6 month’s interest to be taken upfront.

3. PDCs one for the principle amount of EMD and another towards interest for the next 6

months should be taken to meet the eventuality of refund getting delayed.

ii)   SBI Reverse Mortgage Loan

LOAN FOR WELFARE OF SENIOR CITIZENS IN INDIA

SBI Reverse Mortgage Loan Enables house-owning Senior Citizens having inadequate income to meet their financial needs for renovation/repairs to house, medical & other personal purposes. There is no compulsion for the borrower to repay a RML during his or her lifetime or till such time he or she continues to stay in the house.

The borrower continues to retain ownership of the house. Also, the borrower will have the option to prepay the loan at any time during the loan tenure and there will be no pre-payment penalty.

i)             SBI Surakshit Home Loan

 

Home Loans with Life Cover.

 

Other features like tenure, Loan To Value(LTV), eligibility are as per the standard schemes.

Life Insurance Premium can be added to the Project Cost.

ii)           SBI Yuva Home Loan

Eligible: Salaried employees of Companies from the private sector, MNCs, Government undertakings, PSUs, Government employees.

 

Age:  Between 21 years to 35 years

 

Minimum Net Monthly Income: Rs.50,000  

 

Loan Term : Maximum 300 months. 

 

Permissible loan amount : 20% higher

 

Repayment : First 36 months – Only the interest applied during the month will be recovered.                               37th month onwards – 204 EMIs

Loan to Value(LTV): Minimum 20%

Type of Loan : Term Loan Only

Features, other than those mentioned above will be the same as those applicable to SBI Home Loan scheme.

iii)          SBI Home Loan PAL     ( Pre-Approved Limit )

Benefits of this product:

(1)  Under this, your Eligible Loan Amount is assessed before finalization of property deal and a Pre-Approved Loan Arrangement Letter (PLAL) is issued to you.

(2)  Customer can confidently negotiate with the builder/seller after getting a sanction.

The Modalities are as under:

1. All the documents prescribed for Home Loan, except property documents will be collected from the applicant along with the application form.

2. The loan eligibility will be assessed on the basis of income details of the applicant and PLAL issued.

3. Non-refundable processing fee as applicable to the Home Loan will be collected upfront.

4. PLAL will be valid for a period of 2 months. Property papers will be required to be submitted by the borrower within the validity of PLAL.  Processing fee will not be levied again.

5. Pre-approved loan arrangement letter (PLAL) will carry the eligible loan amount calculated on the basis of prevailing interest rates. Loan amount calculated on the basis of prevailing interest rates will be valid for a period of 1 month (If the interest rate is revised downwards within a period of 1 month, then the borrower will be given the benefit of such downward revision.).  Thereafter the interest rates applicable on the date of sanction of Home Loan will be applicable.

6. Minimum Loan amount: Rs.10 Lacs.7. Other features like tenure, Loan To Value (LTV), eligibility are as per the standard

schemes.

SBI EZEE CAR LOAN

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SBI provide the best car loan scheme for you to take a loan below Rs 5 lacs.

SBI offers you:  

 

No Advance EMI;

Longest  repayment tenure (7 years);

Lowest interest rates ( there are further concessions for Corporate Salary Package accounts) ;

Lowest EMI;

LTV 85% of 'On Road Price' of car (includes registration, insurance and cost of accessories worth Rs 25000), 90% in case of Corporate Salary Package accounts;

Interest Calculated on Daily Reducing  Balance;

Flexibility of payment of EMI anytime during the month ;

Low pre-payment penalty, only 2%;

Low processing fee (only 0.50% of loan amount); for Corporate Salary Package accounts, only Rs.500  per application.

Free Accidental insurance ; Optional SBI Life cover;

Overdraft facility available.

The Scheme  

 

Purpose 

For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs with minimum loan component of Rs. 5.0 lakh and above. 

Take over of existing loan from other Bank/Financial institution (Conditions apply)

Eligibility

         To avail an SBI Car Loan, you should be :

Individual between the age of 21-65 years of age.

A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or 

A Professionals or self-employed individual who is an income tax assessee or  A Person engaged in agriculture and allied activities.  Net Annual Income Rs. 100,000/- and above.

Salient Features 

Loan Amount

Maximum Loan amount will be 2.5 times of net annual income. Spouse’s income could also be considered provided the spouse becomes a co-borrower in the loan.

Loan amount below Rs. 5 lacs will cover under the scheme

Documents Required

You would need to submit the following documents along with the completed application form: 

1. Statement of Bank account of the borrower for last 12 months.2. 2 passport size photographs of borrower(s).3. Signature identification from bankers of borrower(s).4. A copy of passport /voters ID card/PAN card.5. Proof of residence.6. Latest salary-slip showing all deductions7. I.T. Returns/Form 16: 2 years for salaried employees and 3 years for professional/self-

employed/businessmen duly accepted by the ITO wherever applicable to be submitted.

8. Proof of official address for non-salaried individuals. SBI EZEE CAR LOAN – NANO SUBVENTION SCHEME

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Eligibility Between the Age: 21 – 65 years (for sanction of loan),loan can be granted for persons beyond 65 years who have sufficient, regular and continuous source of income for servicing the loan. Loan must be fully repaid before the

borrower attains the age of 70 years.

Minimum net annual income of Rs. 1,00,000/-Who are Eligible

Individuals – Salaried, Professionals, Self Employed, Businessmen, agriculturist with Minimum net annual income of Rs. 1,00,000/-

Purpose For purchase of new Tata Nano CarEligible Loan Amount

Finance for on-road price

Maximum: 30 times Net Monthly Income or 2.5 times the net annual income.

 Margins

(On the on-road price)

15% ( Loan to Value 85% of on road price)

 

Security Hypothecation of vehicle and noting of hypothecation charge in the books of R.T.O.

Processing Fee Waived from 9th January 2011 to 31st March 2011

Rates of Interest & repayment

Customer will get @ 8.00% p.a. (fixed),( from 9th

January 2011 to 31st March 2011).

For example loan amount will be Rs. 1lac. The EMI to the customer will be as under:

 

Tenure  ( in months)

EMI to Customer@ 8% (in Rs.)

36 3134

48 2441

60 2028

72 1754

84 1559

 

 Penal Interest For Loans above Rs.25000/- , if the irregularity

exceeds EMI or Instalment amount, for a period

of one month , then penal interest would be charged @2% p.a.(over and above the applicable interest rate) on the overdue amount for the period of default. If part instalment or part EMI remains overdue, then penal interest should not be levied

Documents required

Statement of Bank account of the borrower for last 12 months.

2 passport size photographs of borrower(s).

Signature identification from bankers of borrower(s).

A copy of passport /voters ID card/PAN card.

Proof of residence- Tax receipts, Telephone bill, Electric bill etc..

Latest salary-slip showing all deductions

I.T. Returns/Form 16: for last 2 years for salaried employees and 2 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable to be submitted.

Proof of official address for non-salaried individuals

Prepayment Penalty

Pre-payment fee of 2% of the amount of the loan prepaid will be levied if;

The loan is taken over by any other bank/financial institution

                             Or

The loan is repaid before expiry of half of the agreed repayment period

                             Or

 Partial repayment is being made in the first year

 

However, no pre-payment penalty should be levied if the loan account is foreclosed for taking a fresh car loan for new or used car from Bank.

Mode of disbursement

Amount should be remitted direct to the supplier/dealer by means of RTGS/NEFT after deducting the subvention amount as per annexure-. The subvention amount will be credited to Interest Account.

Insurance The vehicle purchased is to be kept comprehensively insured in the name of the borrower for the market value or at least 10% above the loan amount outstanding, whichever is higher, and the Bank’s interest as a hypothecatee should be noted in the certificate of insurance and insurance policy.  A copy of this is to be retained with the loan documents.