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 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.
Your gateway to a whole new world of unmatched advantages
Attractive returns
Forex
SBM Signature
Debit Card
Every ATM is
your ATM
Customized account
number
Value-centric
services
Holistic wealth
strategies
Extension benefits
Zero charges
| Savings Account Interests Rate | |
| For Resident & Non-Resident Indians | |
| Savings Account balance (INR) | Interest Rates (p.a.)* w.e.f August 01, 2024 |
| Up to 2 Lakhs | 3.50% |
| More than 2 Lakhs to 5 Lakhs | 4.00% |
| More than 5 Lakhs to 10 Lakhs | 5.00% |
| More than 10 Lakhs to 50 Lakhs | 7.00% |
| More than 50 Lakhs to 50 Crores | 7.25% |
| More than 50 Crores to 75 Crores | 7.35% |
| More than 75 Crores | 5.00% |
# For amounts greater than Rs. 5 Crs, please contact the Branch or your designated Relationship Manager (With effect from August 01, 2024)
*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 customercare@sbmbank.co.in
-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.
FAQ
- 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.
- 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
- The applicant should be a resident individual. Foreigners residing in India can also open certain savings accounts.
Regular savings accounts require the applicant to be at least 18 years old whereas applicants below 18 years of age can open minor/kids savings account. - You can check your SBM Bank Account balance via Internet banking, Mobile banking, through ATM or by visiting an SBM Bank branch.
- You can get your SBM Bank account statement via these two modes:
1 - Online Mode
A. Log in to Internet Banking/ Mobile Banking
B.Click 'statements', 'e-documents', or 'download'/’view’
C. Select account number
D. Select date range
E. Download the statement
2 - By visiting your nearest SBM Bank branch
3 - Writiing to customercare@sbmbank.co.in from your registered email ID - To request a bank statement by email, you can send an email to customercare@sbmbank.co.in from your registered email ID, mentioning the start and end date of the period for which you requirement.
The Request Completion Time (TAT) is 10 days from the day the complete requirements are received. - To check the latest transactions in your SBM Bank account, simply login into SBM Bank Internet Banking or Mobile Banking App.
- To place the request for your cheque book,
Please email to customercare@sbmbank.co.in from your registered email ID
Please include a scanned copy of your PAN Card, mention the reason for requesting a Cheque book and the number of Cheque leaves required.
The request Completion Time (TAT) is 10 days from the day all requirements are received.
How does the Interest Calculation work?
What are the formulae for calculating the savings interest rate?
What is the frequency of interest payout on savings account?
What is the eligibility criteria to open SBM Savings Account?
How can I check my SBM Bank account balance?
How can I get my SBM Bank account statement?
How do I request a bank statement by email?
How can I check the latest transactions in my SBM Bank account?
How can I apply for Cheque Book? How long would it take?