Double Bonanza from State Bank of India

State Bank of India, India's largest Bank and Sri Lanka's oldest Bank having its presence in the island nation for the last 143 years has launched two new Savings schemes for small savings in the Country.

Giving the details of the two attractive schemes, Vice President (Operations) Arun Khera informed that the schemes have been launched to inculcate the savings habit among the people.

The regular savings scheme (Recurring Deposit) fetches a highly attractive interest rate of 14.5 per cent per annum. The accounts under the scheme can be opened with a balance of as low as Rs. 2,000 per month. The scheme is available for a period ranging from 12 months to 60 months.

The second scheme named SB123 fetches interest of 12.5 per cent on savings with a minimum balance of Rs. 10,000. This scheme also provides benefit of international ATM cum Debit Card which comes free of any cost to the depositor. The bank also provides free internet banking facility and e-mail statements. Khera informed that the bank will continue to come out with similar attractive savings schemes in future.