Savings Special Account Linked to multiple sub-accounts with auto sweep to sub-accounts in predefined manner

Attractive interest rates upto 0.9%*

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

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.

Interest is calculated on the daily balance as on the end of the day and applied monthly for primary accounts. Interest is applied yearly for sub-accounts.

Penal charge of SGD 10 per month will be levied if the monthly minimum balance in the account falls below SGD 5000.

SGD 20 will be charged if the account is closed within 6 months of opening.

ATM cash withdrawal from SBIS & SBI India network – Free

ATM cash withdrawal from other bank network overseas – SGD 3 per transaction

Free Internet banking facility

SGD 5 will be charged for any change in sweep details

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 5000

Customers can transact using the Bank’s ATMs, Internet Banking, and at Points of Sale (POS) which accept MasterCards.

Cash withdrawals through ATM, Internet banking and POS transactions will be limited to a daily ceiling of SGD 2000 each for the primary account.

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 ATM cum Debit card for the primary account. No charges will be levied on transactions done through SBI’s own ATMs in Singapore and India and at the various POSs in Singapore that accept MasterCard. However, for transactions done through POS outside Singapore, usual charges apply.

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

Individuals of the age of 21 years and above are eligible to open a Multisweep account.