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SBI Bank Account- Savings Account

Rated to be one of the topmost banks in India, the State Bank of India (SBI) provides one of the convenient and easy- to- maintain savings account in the country. If you are an bank account holder, you are qualified to experience a wide range of beneficial services and products provided by the reputed bank.

Features of a SBI saving account are as follows:

1. Interest rate:

If you are a savings account holder in the State Bank of India, you are eligible to receive one of the best savings account interest rates available i.e. up to 4% per annum. Along with this feature, you are also permitted to avail safe deposit lockers depending on their availability.

2. Nomination facility:

As a bank account holder in SBI, you are also eligible to a nomination facility, which is highly recommended. Since the SBI savings account is technology- driven in nature, you will also receive e- Statements and SMS alerts periodically.

3. Auto sweep facility:

State Bank of India offers a Savings Plus Account facility where your savings account can be linked to a MOD (Multi Option Deposit) where in you can earn a higher term deposit interest on surplus money lying in your account.  Here, surplus fund above the onset limit of your saving account is automatically added to Term Deposits which operates in multiples of Rs. 10 . You are eligible to operating the account singly, jointly with E or S (Either or Survivor; which means that that you hold the account with a nominee of your choice who is entitled to receive the amount on your passing). As a bank account holder, you also earn an interest up to 4%, just like in a savings bank account.

4. ATM- cum- Debit card:

As a saving account holder with SBI, you are qualified to receive a variety of card, perfectly suited to meet your needs. SBI offers variants of SBI Debit card such as Silver, Gold, Platinum cards. Depending upon your eligibility, you can also receive an International ATM- cum- Debit card which can aid you in your next foreign vacation.

5. Internet Banking:

If you create a savings account with SBI, you are entitled to use YONO, which fulfills your banking purposes seamlessly through the internet. With this facility, you can check your account balance at any time, any place as well as sign in and transfer money, all with a single tap!  YONO assists you in dreaming big by helping you maximize your investments and aiding you in managing your money.

6. SBI No Queue

If you are facing problems with your bank account or wish to avail to certain services, there is now no need for you to wait in long queues. SBI has provided a SBI No Queue App facility where customers can book a virtual e- ticket to receive certain services at select SBI branches. This facility is provided in 3000+ branches of SBI where customers can avail to 18+ varied banking services. Importantly, customers of SBI as well as others can avail the SBI No Queue facility.

7. Types of savings account:

The State Bank of India offers two types of savings accounts:

  • Special Salary savings account- Employees of varied sectors like the corporate, government, defense, paramilitary, police sector, etc. can use SBI’s online account opening facility to perfectly suit their salaries and savings. They can avail to a wide range of beneficial services like Mobile Banking, Internet Banking services.
  • Childrens account– Pehla Kadam and Pehli Udaan are savings accounts provided by the State Bank of India to encourage saving among children right from an early age. Depending on the account, the savings account can jointly or solely run by the minor and can also be in the minor’s name or the concerned guardian/ parent’s name. A child’s account such as the one provided by SBI teaches childrenthe nuances of savings and encourages them to seek financial independence.

8. Rewards:

You can receive rewardz for the transactions you make! SBI Rewardz allows you to earn points based on your purchases in varied stores which can be collected and later redeemed for partial or full payments, according to your needs. You can redeem the collected points for products and services on online stores and as well as partner outlets.

9. Other features:

As a State Bank of India saving account holder you can also receive discounted rates for Personal Accident and Health insurances with SBI General Insurance Company Ltd.

To conclude, along with the above features you can also avail SBI’s quick customer care service to answer your queries and concerns, even in the remotest part of the country! Enjoy a totally hassle- free, easy banking experience!

Rated as the topmost public bank in India, the State Bank of India offers a wide spectrum of banking benefits to its account holders. Offering an average rate of interest at 3.5 percent over the savings accounts, the SBI is known for its ease of banking and quick customer care services –even in the remotest areas of the country. With the ease of opening a savings bank account with the SBI, you are offered additional account facilities & benefits for an overall convenient banking experience.


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