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“Savi-fix” for SB Individual Customers

  • “Savi-fix” is available to Savings Bank Individual customers only.
  • The customer of the above scheme will have the option to select one MOD Product only.
  • The online term deposit created from the account through internet banking channel will not be a MOD product and hence will not be swept back by the* b00 system in case of need.
  • Threshold limit/Minimum Amount: Rs. 50,000/- . Sweep shall take place after the cut off level of Rs. 50,000/-.
  • Sweep Amount: In multiple amounts of Rs.10,000/- over and above the cut off limit.
  • Reverse Sweep: Reverse Sweep will automatically withdraw the required amount from MOD (Multiple Option Deposit) account in multiple of Rs. 10,000/-and the remaining amount will continue to earn the same rate of interest, as agreed upon in the contract. Reverse Sweep will be on "Last in First out" (LIFO) basis.
  • Frequency of Sweep: As and when balance exceeds the cut off limit.
  • Period of Fixed Deposit (MOD): 7 Days to less than 1 Year (364 Days).
  • Pre-mature payment penalty: No Pre-mature payment Penalty will be chargedfor withdrawal or early exit of deposit.

Other Benefits:

  • Instant Internet Banking, ATM Debit card and SMS Banking.
  • Free RTGS/NEFT (Charges by RBI, if any, to be collected).
  • Speed Clearing with no charges (Charges by Clearing House to be collected).
  • Free ECS debit and Credit.
  • Instant credit of outstation cheques up to Rs 50,000.
  • At Par collection of Government Cheques.
  • Free SMS facility.
  • Free Cheque books.
  • All the existing Savings Bank Account holders and new Savings Bank Account holders, who are maintaining accounts in Individual capacity.This facility will not be provided to Firms, Companies, Trusts, Institutions etc. who may be having SB Account as per respective eligibility.
  • Rate of Interest: As applicable to the Term Deposit.
  • Proof of Identity: Photocopy required of any one.
  • PAN Card

  • Passport (along with validity details like date of expiry.

  • Driving License

  • Voter ID Card

  • Identity card with photo issued by: Central Government and its departments, State Government and its departments, Statutory / Regulatory Authorities, Public sector undertakings.

  • Proof of Address: Photocopy required of any one.
  • Passport

  • Voter Id

  • Driving License

  • Bank Passbook / statement.

  • Latest electricity bill or Landline Telephone bill (atleast 3 months old).