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State Bank of Hyderabad (SBH) will be conducting ‘SBH Smart Salary campaign for the salaried class from November 15-January 31.
"SBH Smart Salary (SSS) accounts are zero balance accounts and have the optional facility of multi option deposits for automatically investing surplus funds over threshold limit of Rs 10,000 to earn higher rate of interest,’’ SBH said in a release on Thursday.
An overdraft facility (upto three months net monthly salary) would also be offered at interest rate of 1.35 pc per month on daily balances, among others.
A new deposit scheme, ‘SBH Little Indian’ will be launched on November 14, to commemorate Children’s Day. Minors can place the deposits in their sole name or along with their natural guardian/others for a minimum period of 12 months and a maximum of 120 months.
Minimum deposit under the scheme is Rs 1,000 and a maximum of up to Rs 1 crore at 9.14% interest per annum.
The deposit can be withdrawn anytime after seven days without any penalty and interest payable at applicable rates for the period which the deposit has run.
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