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SBM Bank India begins the New Year with special FD rates

Mumbai, January 09, 2024 (GNI): SBM Bank India has introduced a special Fixed Deposit (FD) rate, to mark the beginning of the New Year for Resident and Non Resident Indians. This limited-time offer, effective from January 8 to January 23, 2024, presents an excellent opportunity for individuals and customers to seek best-in-class returns on their investments.  

The special FD rates reflect SBM Bank India’s commitment to providing its stakeholders with competitive and rewarding financial solutions. The new rates are applicable for amounts less than INR 2 crore, for both Callable and Non-Callable FDs.

Under this special offer, individuals can stand to benefit from the following rates:

  • For a tenure of more than 3 years 2 days to less than 5 years: 8.25% p.a.*;
  • For shorter duration of 391 days to 15 months: 8.10% p.a*;

In addition, as a token of appreciation for senior citizens, SBM Bank India is offering an extra 0.5% benefit on the  Special FD rates, exclusively for Resident Indian senior citizens.

SBM Bank India remains committed to delivering innovative and customer-centric banking solutions, to provide attractive investment solutions for a  prosperous financial future of its stakeholders.

About SBM Bank (India) Ltd: SBM Bank (India) Limited “SBM Bank India” is the first bank to receive a universal banking license from the Reserve Bank of India to set up and operate as a Scheduled Commercial Bank under Wholly Owned Subsidiary (WOS) mode offering banking services in India. SBM Bank India has a network of 13 branches spread across the country including the recently opened new branch in Ludhiana. The  Bank has profound domain expertise and is led by a core team comprising industry veterans having over a century of cumulative experience in banking and financial services. The Bank offers a diverse suite of universal products and services to its customers, including Deposits, Advances, NRI Services, Treasury Products, and Trade Finance Services. SBM Bank India stands poised to continue its growth trajectory and sustained journey of innovation in every sphere of its business and expansion of its service proposition to include an extensive suite of retail and corporate banking products and capital markets.ends GNI

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