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Service Information

Below are the features of our Term Deposit products:

  • Choose different investment terms to suit your needs;
  • Competitive, fixed interest rates;
  • No set up fees or ongoing monthly fees;
  • Option to create term deposit in 6 major currencies, viz. of, AUD, USD, GBP, EUR, NZD and CAD;
  • Option to reinvest, top up or withdraw all or some of your funds upon maturity.
  • Comfort of investing in an Australian bank, majority owned by the Government of India; and
  • Transfer of funds to India or other locations through SBI’s world-wide network (See our Global Network)
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Note:

 

  • Deposits including Term Deposits with SBI Australia are not covered by the financial claims scheme and are not guaranteed by the Australian Government;
  • Eligibility Criteria for investment by an Australian individual resident - minimum deposit of $250,000.00 or more;
  • Preferred amount of investment by other legal entities is minimum $20,000.00;
  • For more information on the product and other charges, refer the terms and conditions in the Product Disclosure Statement.

 

Premature withdrawal of the Term Deposit:

 

  • At least 31 days’ prior notice is required (except in case of hardship, as determined by us ).
  • Penalty will be applicable on the interest;
  • Interest rate will be applied and paid, depending on the actual period of deposit;
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This information does not consider your objectives, financial situation or needs, and you should consider its appropriateness to your circumstances before acting on information. Where appropriate, you should discuss the tax implications with your independent professional tax adviser.

 

Product Issuer is State Bank of India Australia ABN 95 082 610 008 AFSL 238340

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