Benefit from a Savings account that goes the extra mile for you. Earn monthly interest pay-outs and enjoy the advantage of connected banking with 24*7 uninterrupted services.
SBM Bank India's Private Wealth Savings Account is for discerning customers who wish to realize benefits that extend far beyond banking. Enjoy exclusive access to a plethora of privileges with our savings account. Open a Savings Account through Internet Banking or Mobile Banking within minutes, with ease and do so much more than just saving.
Your gateway to a whole new world of unmatched advantages
Every ATM is
|Savings Account Interest Rates|
|For Resident & Non-Resident Indians|
|Slabs||Interest Rate (w.e.f Jan 1, 2021)|
|Balance up to Rs. 2 Lakh||3.50%|
|Balance more than Rs. 2 Lakh up to Rs. 5 Lakh||4.00%*|
|Balance above INR 5 Lakhs upto 5 Crs #||5.00%*|
# For amounts greater than Rs. 5 Crs, please contact the Branch or your designated Relationship Manager (With effect from July 1, 2021)
*The savings interest rate shall apply on incremental balance.
-For additional help and support contact our Customer Service Team on 1800 1033 817 or email us at firstname.lastname@example.org
-Please note: The above-mentioned Savings Interest Rate is applicable with effect from June 1, 2021
-Disclaimer: Above rates are subject to change without prior notice. Depositors may please confirm the rate with respective branches before the investment
-Find out the current interest rates offered by our Fixed Deposit and Recurring Deposit.
- For Savings balance up to INR 2 lac, interest rate of 3.5% per annum shall apply. Above INR 2 lac up to INR 5 lacs, interest rate up to 4% per annum will be applicable for any incremental amount for the number of days incremental balance is maintained. Similarly for balance above INR 5 lacs, interest rate up to 5 % per annum will be applicable for any incremental amount that is maintained for the number of days incremental balance is maintained.
- Calculating your monthly interest earned starts with knowing the basic equations for calculating interest:
Simple Interest: A = P x r x t
The variables are:
P: your principal deposit, or clear balance of your account
r: applicable rate of interest
t: the time, in years, you want to calculate for
A:the amount of money you’ll have in your bank account after interest is paid
- SBM Bank India is one of the few banks which pays out the Savings Interest on a monthly basis
How does the Interest Calculation work?
What are the formulae for calculating the savings interest rate?
When is the Interest Paid out?