Savings Special Account Linked to multiple sub-accounts with auto sweep to sub-accounts in predefined manner
Attractive & Competitive Interest Rates
Flexibility to choose more than one sub-account
Internet banking facility available
SBI Gold International ATM Debit Card (MasterCard enabled) for the primary account
Joint account facility available
One main Savings Special Account (SSA) will be linked to multiple accounts (Sub accounts) under SSA wherein the customer can set the threshold limit above which sweep to the sub accounts can be effected.
Customer has to define Sweep details in absolute percentage terms for all the sub accounts and frequency of sweep. In case of fraction it will be rounded off to the nearest Dollar.
Credit can be to accounts in the name of depositor, joint account of the depositor or third party
Only Auto sweep facility from the main account to the sub account is permitted and reverse sweep is not allowed
The minimum lock in period for a sub account is one year to be eligible for preferential interest rate.
The primary SSA has a minimum balance requirement of SGD 5,000
Customers can transact using the Bank’s ATMs, Internet Banking, and at Points of Sale (POS) which accept MasterCards.
Cash withdrawals through ATM will be limited to a daily ceiling of SGD 3000 while Internet Banking and POS transactions will be limited to a daily ceiling of SGD 2000 each.
No Cheque Book will be issued. Cash withdrawals through the branch are permitted if the customer makes the requisition in person.
Depositors under the scheme are eligible for SBI ATM cum Debit card. Transactions on SBI ATMs, ATMs under ATM5 network in Singapore and at the various Point Of Sale (POS) in Singapore which accept MasterCard are free.
Depositors under the scheme shall be eligible for Internet Banking facility for the primary account.
Primary account deposits are covered under SDIC upto the eligible limit
Interest rates are as applicable to Savings Special Account for primary account. The sub accounts will attract higher interest rate over the savings interest rate or as per the margin fixed by the bank from time to time provided it has run for the minimum period of one year.