Saving Plans

We provide the best saving plans in order to help members in the future. Insurance plans like Pravasi are also beneficial to you. Saving Plans Our savings account helps members to plan and save for the future. We understand that your savings need to be secure and accessible. Benefits of SBI savings account: Monitoring member accounts: We monitor and control members savings through our SBI passbook facility or SBI Internet banking. Money multipliers: Members can earn interest at term deposit rates through an SBI savings plus account. Transfer Accounts: Members can transfer accounts from one branch to another branch without any charge. We also provide the facility to open member savings accounts in single or joint names. Pravasi Pravasi is an insurance plan for non-resident Indians (NRI). The spouse and children of NRIs are also permitted to enroll in Pravasi, even if they are residents of India. Benefits of Pravasi: It covers death due to accident, loss of sight and dimemberment due to accident. In case of death of an insured NRI due to accident, the Pravasi plan provides educational grants and marriage grants to the NRI's children. If the death of the insured occurs due to illness or accident in a foreign country, the plan provides up to Rs. 50,000 for repatriation of the body to India. The plan grants round trip airfare to India in case of death due to accident of his/her spouse or children subject to a limit of Rs. 50,000 - once during the policy period. Suvidha Suvidha was a scheme introduced by the income tax department in June 2002. The following are the objectives of Suvidha scheme: Speedy issuance of refunds Assured service of intimation sheets Easy filing for tax returns Speedy processing of returns on computers Suvidha benefits tax payers by ensuring faster processing and issue of refunds. It also ensures higher level of employee satisfaction in the interest of all progressive organizations. FCNR FCNR accounts can be opened by applying online. The following are the benefits of FCNR accounts: Choice of four currencies for maintaining accounts: GBP, EUR, USD and JPY Open a deposit with maximum of three years and minimum of one year Loans are available at attractive interest rates Deposits would be automatically renewed upon maturity These are the documents required for opening a FCNR deposit: Original Visa Passport A photo copy of the pages of the members passport where the name, photograph and address are given Details of current bank accounts with any bank in India A Cheque drawn on any existing bank in India A copy of the letter received from any existing bank in India A copy of valid visa A Cheque drawn on an existing bank abroad A Cheque issued by the member and paid by the bank outside India The FCNR account can be maintained for a minimum period of 12 months and a maximum period of 36 months. FCNR deposits can be closed before the due date. Joint account holders are permitted for this account with another NRI (non-resident Indian). Back to Top