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SBH unveils new deposit scheme

11 Mar 2014 Evaluate

State Bank of Hyderabad (SBH) has unveiled a new deposit scheme SBH -110 Weeks which offers liquidity and higher rate of interest to the depositors for their medium period investment. The scheme is operational from March 10 to April 30.

Under the scheme the customer can park their surplus funds for a medium period of 110 weeks and earn higher returns on their deposits. The depositors also get the facility of loan / overdraft on their deposits.

The Bank is offering interest rate of 9.11 per cent per annum for public and 9.41 per cent per annum for senior citizens. The minimum amount of deposit is Rs 1000 and maximum is Rs 99 lakh. Customers have the option to withdraw the amount at any time after 7 days with no penalty. The product is available to all type of customers as well as Non Resident Indians (NRI). 

Earlier, the bank had unveiled a new campaign for housing and car loans, ‘Apna Ghar & Apna Car’. The bank offer loans at concessional rates during the campaign period from January 1 to March 31, 2014.

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