State Bank of India

Article Submitted by: BankMan
Savings - Checking - CDs


State Bank of India's New York branch is offering competitive CD rates for deposits over $5,000 and is FDIC insured.

 

Submitted: Sep 1, 2008    Views: 1143    Comments: 0    Likes: 2   


State Bank of India, the largest bank in India, offers some very good CD rates with a minimum deposit of $5,000 through its US subsidiary.  

These CDs are offered through the New York branch and the US US operation of State Bank of India is FDIC insured (FDIC Certificate # 33682).

These CDs can be opened online and by mail.

While the bank is FDIC insured, some concerns do arise from looking at the bank's FAQs page:

  • Early withdrawal penalty is 90 days of interest for 1 and 2-year CDs, 180 days for the 3 year CD, and 270 days for the 5 year CD. The bank reserves the right to refuse such withdrawals.
  • If you're a new customer applying by mail, you will need to provide a notarized copy of your driver's license.

Customer service is reputed to be very poor.  I was able to get someone on the phone who directed me to the website for more information on opening an account.�

If your willing to deal with spotty customer service they might be worth a look.

See how State Bank of Indias certificate of deposit rates compare to other top cd rates. 




Related Articles:



2

Email this story Email to someone | Print Story Print Content | Add to reading list



Add Your Comments:

Your Name:

Spam protection control:


© Copyright 2008 BankMan All rights reserved. BankMan has granted BestCashCow.com, LLC non-exclusive rights to display this work on Bestcashcow.com.

Financial products of all nature bear inherent risks and this website is not a financial advisory service; it is a forum for users to share and to compare notes and observations on financial publications. The website provides, free of charge, the technical and logistical apparatus and the medium for users to share and to publish financial information and to comment on publications. As such, the website’s operator can not and does not take responsibility for information, observations or opinions of any sort or nature provided by third parties with whom it is not affiliated who use the website to publish, to comment or as a means of solicitation. Users are specifically warned against following any advice related to specific instruments, including, but not limited to, equity securities, that may be provided by other users directly on this site or on web pages to which other users have provided links on this site. BestCashCow.com can not and does not check or verify the qualifications and credentials of users who publish or comment on this site or on linked pages. Users should seek personalized advice from qualified professionals regarding all personal financial issues and evaluate the risks and applicability to their own circumstances of each financial product discussed regardless of who the publisher is or purports to be. Should you, through your use of this site, identify an individual or organization purporting to offer personalized advice, you bear all responsibility to ensure that the individual or organization has the qualifications that they may represent on the website, and that their advice is appropriate for your circumstances. On certain webpages, BestCashCow.com provides information related to rates on US-based savings accounts, CDs, short-term government bonds, and other US cash equivalent securities, also free of charge to internet users for their independent use. The accuracy of this information is not guaranteed, and the information, like all other information on this website, should not be construed to provide investment advice, nor to endorse a financial product of any sort.

© 2007 BestCashCow.com, LLC. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy.