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Maturity Instruction: Payment Instruction (Maturity Proceeds/Residual)

1. This document outlines the terms and conditions for various deposit accounts including term deposits, recurring deposits, savings plus accounts, and joint accounts. 2. Key details covered include interest payment options for term deposits, debit instructions for recurring deposits, auto-sweep features and thresholds for savings plus accounts, and provisions for joint accounts regarding payments to survivors. 3. The applicant agrees to abide by all rules, terms, and conditions applicable to the accounts, including any future changes, and understands they have the option to operate accounts through mobile banking.
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0% found this document useful (0 votes)
75 views1 page

Maturity Instruction: Payment Instruction (Maturity Proceeds/Residual)

1. This document outlines the terms and conditions for various deposit accounts including term deposits, recurring deposits, savings plus accounts, and joint accounts. 2. Key details covered include interest payment options for term deposits, debit instructions for recurring deposits, auto-sweep features and thresholds for savings plus accounts, and provisions for joint accounts regarding payments to survivors. 3. The applicant agrees to abide by all rules, terms, and conditions applicable to the accounts, including any future changes, and understands they have the option to operate accounts through mobile banking.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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1.

TERM DEPOSIT / SPECIAL TERM DEPOSIT

Amount: Rs. (in words) Period:

year(s) month(s) days. In case of Term Deposit, interest payable: Monthly Quarterly
Maturity instruction: Payment instruction (Maturity Proceeds/Residual)
Auto renew* principal Auto renew for period: By credit to my bank account no.
Auto renew* principal & interest
year(s) month(s) day(s)
Auto renew* Rs. By Banker’s Cheque / Demand Draft

Pay principal & interest Pay principal


* Renewal will be done at the then prevailing interest rate
2. MULTI-OPTION DEPOSIT SCHEME
I/We hereby give consent for debiting my/ our account for recovering service charges as normally applicable to Savings Bank and Current Account.

Linked Saving Bank/Current Account No.


3. RECURRING DEPOSIT

Monthly installment: Rs. Standing instruction (if any) Debit account no.

Period: year(s) month(s) On Maturity, credit proceeds to account no.

4. SAVINGS PLUS / PREMIUM SAVINGS ACCOUNT


Auto-sweep facility links Savings/Current Account with Term Deposit Account. Your Savings Plus/Premium Savings Account balance above a threshold value, for a
minimum amount of Rs.10,000 and in multiple of Rs.1000 in any one instance, is transferred to a Multi Option Deposit (MOD) and earns interest as applicable to the MOD.

Threshold Amount* :Rs.


Minimum balance required:
Sweep time: day (example Monday, Tuesday) of every week (only for Savings Plus Account) Savings Plus Account: Rs. 5000
Premium Savings Account: Rs. 25000
OR (example 1st,2nd) of every month beginning

Under reverse sweep facility for breaking the MOD, the MOD to be broken by: Last in first out First in first out
5. NO-FRILLS ACCOUNT
I declare that my present gross monthly income is not more than Rs.5,000. I shall inform you whenever it exceeds Rs.5,000. I understand that if the value of my business
connection, including other liability products like Recurring Deposit or Term Deposit,exceed Rs.10,000/-,this account will cease to be a ' No-frills' account. The account will
then be treated as a normal Savings Bank account, governed by the terms and conditions applicable to such accounts. I shall abide by the ' Know Your Customer' norms as
stipulated from time to time.
6. FOR JOINT ACCOUNTS WITH 'EITHER OR SURVIVOR' OR 'ANYONE OR SURVIVOR' MODE OF OPERATION
We have to advise that State Bank of India may pay to anyone of us, any day either before or on due date, on or after due date and where no due date is fixed, on demand, the
principal alongwith interest. Payment to any one of us is discharge to the Bank from all of us, until you receive a notice contrary to it from both/ all of us. In case of death of
any one, amount is to be paid to the survivor(s).
I/We have read and understood the rules and regulations of the product(s)/ service(s) opted for and agree to abide by the terms and conditions relating to the conduct thereof
as also any changes brought about therein from time to time.A copy of the Savings Bank rules and regulations has been made available to me by the mode of a tear off.
Further,I/we understand that I/we have the option to operate this account through my mobile handset using MPIN as per Terms and Conditions displayed on Bank' s website
www.sbi.co.in. Further,I/we have read and understood the provisions contained in the "Terms of Service document" of "OnlineSBI" on the Bank' s website www.sbi.co.in and
accept them.I/we agree that the transaction executed over "OnlineSBI" under my Username and Password will be binding. The Bank is entitled to amend the "Terms of
Service document" of "OnlineSBI" from time to time.

Please Sign in
black ink only.
Signature of 1st Applicant Signature of 2nd Applicant Signature of 3rd Applicant
Nomination
Nomination, if required fill Form DA-1 on page no. 2, otherwise sign below
I/We do not want to nominate any person in this account
Please Sign in
black ink only.

FOR OFFICE USE


Certified that the implications and conditions for the operation of the account have been explained to the depositor (only in case of illiterate applicant)

Open account: Account number generated:

Date: (Authorised signatory) Date: (Authorised signatory)

i) Internet Banking (INB) Kit No. : Initials

ii) INB Viewing Transaction rights vii) Account sourced by Business Correspondent/ Business Facilitator - Yes/ No
Initials
given on : If yes, Name/ Designation:
iii) Mobile Banking MPIN given on Initials Code no. of BC/BF Initials

iv) ATM Card data transmitted on Initials viii) Account transferred / Home branch
Initials
changed on:

v) Nomination serial no.: Initials ix) Account closed on: Initials

vi) Threshold (KYC) limit: Rs. Initials

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