AN AMERICAN BANK WITH INDIAN HERITAGE

State Bank of India (California) is fully owned by State Bank of India, one of the strongest banks in the World, with controlling ownership by Government of India. 

State Bank of India (California), a California Banking Corporation is presently rated by "Bankrate.com" by * * * (Three stars) indicating “sound financial condition” under the “Safe and Sound Rating System” based on the financial strength and stability of the Bank. (where 5 Stars is the most desirable and 1 star is the least desirable rating) (State Bank of India (California) is not affiliated to "Bankrate.com").

*APY refers to Annual Percentage Yield. We use the daily simple interest rate method to calculate the interest on your account.
Penalty may be imposed for early withdrawal.
Fees could reduce earnings on the deposit. The CD special interest rate and annual percentage yields are current as of 3/1/2011. Bank reserves the right to change promotional rates without notice.
**Available for new funds only. Minimum balance to open and maintain APY is $1,000

"To my CUSTOMER: I may not have the answer, but I'll find it. I may not have the time, but I'll make it. I may not be the biggest, but I'll be the most committed to your success.” - Source Unknown

At State Bank of India (California), each one of us is committed to offering you only the Best because we believe that your success is linked to our growth and will lead to attainment of our goals. Our range of highly personalized services is tailored to meet your needs. We are sure your experience with us will be a memorable one.

FDIC NOTICE

The FDIC Board of Directors (Board) has issued a final rule to implement the December 29, 2010, amendment to the Federal Deposit Insurance Act (FDI Act) to include Interest on Lawyer Trust Accounts (IOLTAs) within the definition of a "noninterest-bearing transaction account" for purposes of the temporary, unlimited deposit insurance coverage afforded to such accounts by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). To access additional information regarding the final rule, please click below:

FIL-2-2011 - PDF (PDF Help)

FDIC EDIE

Understanding the deposit insurance coverage you have on your accounts.

Since State Bank of India (CA) is an FDIC-insured institution, it means that your qualifying deposits are insured by the federal government. But as with any insurance, there are coverage limits and requirements that must be met.

To help you determine your insurance coverage, you can use an easy-to-use online FDIC tool called EDIE The Estimator, which State Bank of India (CA) is making available to you on our website.

A few minutes with EDIE can give you endless peace of mind. You’ll know if the money you have in your State Bank of India (CA) deposit accounts is fully protected or if any accounts exceed coverage limits.

Using EDIE is easy. Just click the link below to get started. To save time, have a list of your deposit accounts and the amount you have in each. If you have joint accounts or trust accounts that name beneficiaries, have those names, too. To check business accounts, you will need the business name and Employer Identification Number (EIN).

To ensure your privacy, State Bank of India (CA) does not allow EDIE access to any personal or account information, nor will EDIE store any of the information you provide. And no information is sent over the Internet.

Anti-Money Laundering Compliance and Customer Identification Program

State Bank of India (California) has implemented an enterprise-wide Anti-Money Laundering (AML) compliance program designed to comply with applicable laws and regulations.

State Bank of India (California) Anti-Money Laundering (AML) and Counter-Terrorist Financing Policy Statement
Crime has a destructive and devastating effect on the communities in which we operate. Safeguarding the global financial system is critically important for the economic and national security of the jurisdictions in which we operate. Accordingly, it is the policy of State Bank of India (California) to take all reasonable and appropriate steps to prevent persons engaged in money laundering, fraud, or other financial crime, including the financing of terrorists or terrorist operations, (hereinafter collectively referred to as “money laundering”) from utilizing State Bank of India (California) products and services. Compliance with both the letter and the spirit of the anti-money laundering regulatory regimes in the countries and jurisdictions in which State Bank of India (California) operates is one way the Bank works to achieve this policy.

State Bank of India (California) AML Compliance Program
State Bank of India (California) has developed an Anti-Money Laundering Compliance Program to comply with applicable laws and regulations.  To facilitate compliance with anti‐money laundering laws, State Bank of India (California) Corporation has developed and implemented a written anti‐money laundering prevention program, consisting of policies, procedures, compliance program,  internal controls, and systems. The program also requires regular employee training and annual independent auditing.

State Bank of India (California) CIP Program
State Bank of India (California) has adopted and implemented a (CIP) customer identification program which includes procedures to obtain, record, and maintain required identification information. Additionally, State Bank of India (California) has procedures for verifying all clients’ identities through the use of documents and third‐party vendors. In accordance with CIP (section 326 of the USA PATRIOT Act), it is the policy of State Bank of India (California) to abide by the CIP rules and we will request from all consumer and/or business account signers, the following information:

• Full Name
• Address
• Date of Birth
• TAX ID Number

Enhanced due diligence may require us to request additional information prior to opening your account.