Monday, 16 February 2015

Secure Your Future with SBT Fixed Deposit



The State Bank of Travancore fixed deposit schemes have the solution to a secure and stress-free future

About State Bank of Travancore

State Bank of Travancore was established in 1945 as Travancore Bank LTD. and was sponsored by the former Princely State of Travancore. Under the SBI subsidiary Banks Act 1959, the special statute of the Indian Parliament, State Bank of Travancore was granted membership of the State Bank Group which is the largest banking group in India. State Bank of Travancore was also deemed an Associate of the State Bank of India.


Eligibility

State Bank of Travancore offers the opportunity for children of 10 years and above to open a fixed deposit account with a maximum deposit limit of Rs.2 Lakhs. In the event that a minor who is below the age of 18 years is offered guardianship, the maximum limit that the minor can deposit into their fixed deposit account is Rs.20 Lakhs.

An existing State Bank of Travancore bank account is not a prerequisite to open a fixed deposit account.

Adults over the age of 18 years can enjoy a fixed deposit account with State Bank of Travancore without any maximum limit cap on their fixed deposit account.

State Bank of Travancore Fixed Deposit Loan Schemes

Following are the categories that State Bank of Travancore offers fixed deposit schemes in-

     Domestic deposits
     Less than Rs.1 crore
     Rs.1 crore and above
     NRO fixed deposits
     Less than Rs.1 crore
     Rs.1 crore and above
     NRE fixed deposits
     Less than Rs.1 crore
     Rs.1 crore and above

Interest Rates offered on State Bank of Travancore fixed deposits-

FIXED DEPOSIT TYPE
AMOUNT
INTEREST RATES
Domestic deposits
Less than Rs.1 crore
7.5% - 9.25%
Domestic deposits
Rs.1 crore and above
7.0% - 8.75%
NRO fixed deposits
Less than Rs.1 crore
7.0% - 8.75%
NRO fixed deposits
Rs.1 crore and above
6.50% - 8.75%
NRE fixed deposits
Less than Rs.1 crore
8.75%
NRE fixed deposits
Rs.1 crore and above
8.25%

Amount that can be placed in your fixed deposit account

The minimum amount you can place in your fixed deposit account with State Bank of Travancore is Rs.1000. The best part about State Bank of Travancore fixed deposits is that there is no cap on the maximum amount that you can invest in your fixed deposit account. The only thing that you have to keep in mind is that an existing account cannot be updated with monetary inputs. In order to place more sums of money under a fixed deposit scheme, a new fixed deposit account needs to be created.

Tenure Period of your fixed deposit account

State Bank of Travancore offers its customers fixed deposit account tenures starting from 7 days and all the way up to 10 years. You can pick the tenure most beneficial to you at your discretion.

Are the fixed deposit accounts with State Bank of Travancore taxable?

State Bank of Travancore fixed deposit interests paid are tax deductible if the interest rate on the fixed deposit exceeds Rs.10000.

What about loans provided against fixed deposits?

State Bank of Travancore offers you loans against your fixed deposit account to a loan amount of up to 90% of your term deposit amount. Furthermore, the interest rate you are charged will be 1% of your State Bank of Travancore fixed deposit interest rate.

Special Rates for Senior Citizens

State Bank of Travancore offers attractive special rates for senior citizens under the domestic deposit scheme of less than Rs.1 crore.

State Bank of Travancore is a stable institution to invest with
State Bank of Travancore has the answer to all of your imminent financial fears. State Bank of India has infused capital into State Bank of Travancore, thus increasing its capital to Rs.6018.46 crores as evaluated on December 31st 2014. Its non-performing assets percentage has decreased by leaps and bounds in the last quarter. Furthermore, State Bank of Travancore’s capital to risk weighted assets ratio has shown a substantial increase. Also, State Bank of Travancore has shown steady a increase in bank deposits, NRI deposits and yield on advances with its phenomenal decreases in cost of deposits and its total advances.