| Minimum Balance | Annual Fee | Internet Banking | Features | |
|---|---|---|---|---|
SBI Saving Account
|
Minimum Balance: BHD 20 | Annual Fee: BHD 0 | Internet Banking: No | Features: No Salary Transfer |
State Bank of India Saving Account Features:
- Savings Bank Account can be opened in Bahraini Dinar
- Minimum balance of BD 20.000 shall be maintained in the account. Penal charge of BD 1.000 per month will be levied if the monthly minimum balance in the account falls below BD 20.000
- Interest at the rate of 0.75% p.a. will be payable half yearly as at the end of June and December, on accounts with monthly minimum balance of BD 200.000 and above. No interest will be payable if the monthly minimum balance is below BD 200.000
- Accounts can be opened in the joint names of upto three persons
- Cover under the Deposit Protection Scheme of the Central Bank of Bahrain will be available for ‘eligible deposits’
- No cheque book will be issued in Savings Bank deposit accounts
- Withdrawals upto BD 500.000 shall be through ATM
- Withdrawals above BD 500.000 shall be through Withdrawal Slips
- The account holder shall appear at the branch in person for withdrawals through withdrawal slips
- ATM Facility Depositors under the scheme shall be eligible for ATM card. Transactions through Bank’s own ATM shall be free of charge
- Access to ATMs of other banks in Bahrain will be available free of charge
- All Depositors shall be eligible for free Internet Banking facility
- Facility for automatic remittance of funds to any bank / centre will be available under the scheme
- Depositors under the scheme shall be eligible for an additional ATM card for access to State Bank ATMs in India. The access will be chargable
- Individuals above the age of 21 (of all nationalities) are eligible to open a Savings Bank account
- Parent or legal guardian may open account in the name of a minor
- The account will be operated by the parent or legal guardian till the minor becomes a major
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
