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The latest on Singapore Savings Account Rates:

May 3, 2017

1.25% Fixed Deposit Rate Promotion

State Bank of India Singapore 1.25% Fixed Deposit Rate Promotion


Terms and Conditions governing SBI 12 Month Term Deposit Promotion:

Applicable for fresh and renewal of funds.

The minimum deposit amount per individual or per joint account with the same individuals is SGD 10,000 / USD 10,000 in the currency the deposit has been placed.

Multiple deposits can be placed by the customer as long as the maximum amount per individual is SGD 1,000,000 / USD 1,000,000 in the currency the deposit has been placed.

The start date of the Term Deposit will be the date the funds received by SBIS are cleared (“Start Date”). The promotional rates are only applicable from the Start Date where duly completed Account Opening Forms are received and accepted for processing by SBIS by 31st May 2017.

Auto Roll Over: Unless otherwise instructed in writing at least three working days prior to the maturity date of the deposit, the term deposit will be renewed automatically on maturity for the same period as the original deposit at the SBI Prevailing Term Deposit Board Rate of interest at the time of renewal.

Premature Withdrawal: Promotional rates would not apply.

SGD Deposits: Standard procedures apply. In case of premature withdrawal, board rate (at the time of placement of deposit) will be accorded for completed quarters.

FCY Deposits: For premature withdrawal of deposit, interest is paid for the period it has actually run on a daily basis, at the board rate applicable for that period minus 1% penalty. If the board rate applicable is <⁄=1%, no interest is paid. SBI reserves the right to discontinue or vary this promotion or revise the interest rates or extend or withdraw the promotion without prior notice. The Term Deposit Promotion is an independent promotion and cannot be clubbed with any other offer and/or promotion from the Bank. For standard terms and conditions governing deposit accounts, refer to SBI website www.sbising.com for more details.

The Team

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