SBI is perhaps one the most popular government banks in India that offers a plethora of financial products for people from different backgrounds and needs. The SBI saving accounts come equipped with a plethora features, and benefits.
Perhaps one of the biggest and most attractive advantages of opening a savings account in SBI is that it require little minimum balance. You get ATM/Debit card facility along with mobile banking and net banking facilities. Check out the SBI saving account interest rates below:
- Interest Rates for Saving Deposits Balance up to Rs. 1 crore – 3.50% p.a
- Interest rates for Saving Deposits Balance above Rs. 1 crore – 4.00% p.a
| Savings Account | Interest Rate ( p.a) |
Minimum Balance Required |
| Basic Savings Account | 4.00% | NIL |
| Small Savings Account | 4.00% | NIL |
| Yuva Savings Account | 4.00% | NIL |
| Savings Account For Minors | 4.00% | NIL |
| Savings Plus Account | 4.00% | INR 25,000 |
Just like all other banks, SBI also gives interest on the amount you have deposited in the savings bank account.
How can you open a savings account in SBI bank online?
Online banking facility has now made life simpler and you can open a savings bank account in SBI by the following these steps:
- Visit the SBI website and under personal banking, go to the section called ‘Deposit schemes‘. There you will find the option of opening a savings account online.
- Go through the details, benefits, rules, regulations, interest rates, etc before clicking on the option that says “apply online“.
- Now complete the online form by filling it out with all the information. Once you are done, click ok.
- This will generate a TCRN (Temporary Customer Reference Number) and it will sent to the mobile number you have mentioned in the application.
Note: Within 30 days of applying online you need to visit the nearest SBI branch to submit the required documents and your account will be up and running.
Documents Required
- Print of the Account Opening Form (AOF)
- Proof of identity and address proof
- 2 recent passport-size photographs (color)
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