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50Plus Deposit

50Plus Time Deposit
Continue growing your savings with confidence

SBI 50Plus Time Deposit ensures your hard – earned money continues to grow as you attain the glorious age of 50.

50Plus Deposit Details

  • Low initial deposit
  • Enjoy 0.05% p.a. above the Prevailing Board Rate
  • Monthly credit of interest in your SBI savings / current account
  • Choice of various tenors 12 / 18 / 24 / 36 months
  • Automatic principal rollover of deposit at the prevailing board rate at time of maturity plus 0.20% p.a.
  • Deposits are covered under SDIC upto the eligible limit.
  • Currency: SGD only
  • Customer must be 50 years of age or above. In case of joint accounts, the primary account holder has to be 50 years and above.
  • Minimum deposit amount: SGD 25,000
  • Maximum deposit amount: SGD 500,000

Terms and Conditions:

  • The deposit per individual or per joint account with the same individual is minimum SGD 25,000 and maximum SGD 500,000. In case of joint account, the primary account holder has to be 50 years and above.
  • Existing customers are allowed to participate in the promotion by bringing in fresh TD funds.
  • Customer must specify a valid SBI SGD savings / current account for the monthly interest credit
  • Automatic rollover of the principal at the prevailing board rate at time of maturity plus 0.20% p.a. will be executed.
  • No interest is payable on premature withdrawal, unless the deposit has run for the minimum period of 3 months or as decided by the bank from time to time for various maturities. In the event of premature withdrawal after the expiry of the minimum interest period, interest will be paid at board rate applicable at the time of placement of deposit for completed quarters. No additional interest of 0.20% p.a. will be accorded in case of premature withdrawals.
  • SBI reserves the right to discontinue or vary this product or revise the interest rates or extend or withdraw the product without prior notice.,/
  • The SBI 50 Plus Time Deposit Scheme is an independent scheme and cannot be clubbed with any other offer and/or promotion from the bank.
  • Standard SBIS terms and conditions applicable to deposit accounts shall apply.
  • No charges applicable.
  • Standard charges for CASA shall apply.

Documents to be submitted along with the application form (originals to be produced for face to face verification)

  • Singaporeans / Permanent Residents:
    • Photocopy of NRIC, both sides (The NRIC should have latest address of the applicant)
  • Non – Singaporeans
    • Photocopy of Passport and
    • Photocopy of Employment Pass / Work Permit / Dependant Pass and
    • Document proof of address (i.e. utility bill, driving license etc.), if not same as in Employment Pass / Work Permit / Dependant Pass

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