bank rates

SBI-US Certificate of Deposit (CD) Rates

State Bank of India, United States Operations (SBI-US) is one of the leading banks which has made a place for itself in United States by conducting its Operations effectively. Since 1973 this bank has been actively participating in Community Services Banking. Being a sponsor and organiser of welfare activities, it has touched the lives of many people. SBI-US offers a wide range of services and saving products including money transfer, deposits, trade services, loans etc.

It offers high rates of interest on Certificates of Deposit Accounts. Following is a brief explanation of the Annual Percentage Yields (APYs) as offered on deposits for various durations:
– An amount deposited for 1 month varying between $95,000-$150,000 or $150,000+ would earn 3.03% APY.
– An amount deposited for 3 months varying between $50,000-$95,000 or $95,000-$150,000 or $150,000+ would earn 3.03% APY.
– An amount deposited for 6 months varying between $0-$50,000 or $50,000-$95,000 or $95,000-$150,000 or $150,000+ would earn 3.03% APY.
– An amount deposited for 1 year varying between:
$0-$50,000 or $50,000-$95,000 would earn 3.80% APY
OR
$95,000-$150,000 or $150,000+ would earn 3.91% APY
– An amount deposited for 2 years varying between:
$0-$50,000 or $50,000-$95,000 would earn 3.80% APY
OR
$95,000-$150,000 or $150,000+ would earn 3.91% APY
– An amount deposited for 3 years varying between $0-$50,000 or $50,000-$95,000 or $95,000-$150,000 or $150,000+ would earn 4.06% APY.
– An amount deposited for 5 years or more varying between $0-$50,000 or $50,000-$95,000 or $95,000-$150,000 or $150,000+ would earn 4.58% APY.
*The above quoted rates have been noted as on 10 May, 2008 and are applicable for individuals only.

Important Features of CD Account:
# Low Minimum Deposit – Initial deposit is as low as $5,000.
# Auto Renewal – Automatic renewal of CD account unless instructed otherwise.
# Choice of Interest Payment – You can choose between cumulative or non-cumulative interest payments.
# Early Withdrawal Possible – Allows early withdrawals with exception of ‘certain corporate depositors’.
# Designation of Beneficiary – Consumer may designate upto two beneficiaries.
# Easy Application – Online forms available for account application.
For More Information visit here: http://www.statebank.com/cd.asp

SBI-US is a member of FDIC. It has its branches in New York and Chicago. You may apply through any of the suitable branch. If you want may open your certificate of Deposit account by filling their form available at:
http://www.statebank.com/worddocument/DEP-CD.doc and start enjoying the facilities now!

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