SBM Savings Account is aimed at providing greater convenience and added value propositions. Whether you are saving big or small, our SBM Savings Account is an effective way to grow your money and help you achieve your goals while earning interest on your daily credit balance. Some features of SBM Savings Account are as follows:
- Minimum Interest Earning Balance: Rs 5,000
- Free Debit Cards
- Standing order facilities
- Utility bill payments through direct debit
- Carry out transactions, including but not limited to withdrawals and deposits, at any time, 24/7
- Flexible and Hassle Free
- The same account may be operated by more than one person
- Free Internet Banking, Mobile Banking Service and SMS Banking
- Topup your mobile credit balance through SBM Mobile Topup
At what frequency is interest paid?
Interest is credited twice per year, i.e. in June and December, is calculated on a daily basis and is payable half-yearly.
How do I obtain a record of my account transactions?
You can obtain a statement through E-Statement facility or you will be sent a free statement that covers all transactions for the past 6 months on a half-yearly basis. You may also request a mini statement through any SBM ATM.