Urban Money

State Bank of India

State Bank of India
4.5

SBI (State Bank of India) is India's biggest banking institution, a multinational public sector banking and financial services conglomerate and a Fortune 500 Company. It has a rich history of operations spanning more than 200 years and is one of the most trusted institutions across the entire country. SBI has 1/4th market share in India, catering to more than 45 crore citizens.

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Loans offered by State Bank of India

State Bank of India LoansInterest RateProcessing FeeLoan Amount/Tenure
Personal Loan

8.55%

0.35% - 1%

-

Tenure(1 - 30 Years)

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Home Loan

9.7%

0 Processing Fee

₹5L - ₹40L

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Loan Against Property

11.9% - 13.9%

Up to 1.5%

Up to ₹20L

Tenure(1 - 6 Years)

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Business Loan

8.45% - 10%

Up to 1%

-

Tenure(Up to 15 Years)

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Features and Benefits of SBI

SBI is highly known for rendering top-notch banking services. Here’s what to expect from the State Bank of India while pining your hopes in its diverse range of financial products and services.

Attractive Interest Rates

No matter if you opt for loans, fixed deposits, or any other financial product or service, the bank provides the same at an attractive interest rate.

Minimal Document Requirement

If you are an existing SBI customer, you can easily avail yourself of the product and services by providing minimal documents. This is because the bank already has your financial history and habits.

Quick Loan Disbursal

The State Bank of India is primarily popular for hassle-free and quick processing. Additionally, by providing relevant documents, you can unlock swift loan disbursal. So, to enjoy the benefits of a required product or service just keep your documents ready ahead of time.

Various Government Schemes

SBI allows its broad customer base easy access to an array of government schemes, including PPF, Pension Accounts, PMAY, National Pension Scheme, Sukanya Samriddhi Scheme, along with Senior Citizen Savings Scheme. You can choose the required one from your home comfort through the official website.

Flexible Repayment Time Frame on Loans

With SBI, you get the opportunity to select a loan repayment time frame that best fits your needs. The presence of flexible repayment tenure ensures that the borrowers do not overburden themselves with higher EMIs.

Convenient Locations

The State Bank of India has a significant network of bank branches and ATMs across the nation, making it highly convenient for customers to avail of its services.

Dedicated Customer Service Team

The presence of a dedicated team of customer care executives ensures that the customer’s queries get resolved as soon as possible. You can get in touch with the customer care executives by calling on their toll-free numbers or dropping a mail.

SBI Bank Overview

State Bank of India is a public sector bank and secured the 43rd position in the world’s largest banks list. Headquartered in Mumbai, SBI is renowned as the financial services statutory body. Adding one more pointer to the list of accomplishments, SBI ranked 221st in the Fortune Global 500 list. SBI was the only Indian bank that secured this rank in the list of largest corporations worldwide.

State Bank of India is the largest Indian Bank, catering to 25% of the customers' overall loan and deposit requirements. Additionally, it serves approximately 23% of the market share inclined towards assets. Providing employment to more than 250,000 individuals, it is one of India's top five largest employers. The bank aims to provide a top-notch banking experience to the customer and offers multiple financial products and services, including SBI home loans, personal loans, business loans, fixed deposits, government schemes, and much more. Keep reading more about the products and services the State Bank of India provides to cope with the customer’s versatile financial needs.

Products and Services Offered by SBI

The State Bank of India offers an extensive range of products and services to cope with the financial requirements of a broad customer base. These include savings accounts, current accounts, FDs, mutual funds, term deposits, loans, debit cards, credit cards, money transfer services, and more.

Additionally, it provides various value-added services like net banking, mobile banking, 24/7 customer support, etc.

Accounts

SBI offers several types of accounts to offer the utmost banking experience to their customers:

Savings Accounts, Salary Accounts Current Account
  • Video KYC Savings Account
  • Basic Savings Bank Deposit Account
  • Basic Savings Bank Deposit Small Account
  • Savings Bank Account
  • Savings Account for Minors
  • Savings Plus Account
  • Motor Accidents Claim Account (MACT)
  • Resident Foreign Currency (Domestic) Account
  • Savings Bank Rules (Abridged)
  • Corporate/Institutions
  • Central Government
  • State Government
  • Indian Railways
  • Defence Forces
  • Central Armed Police Forces
  • Police Forces
  • Coast Guard
Current Accounts for Firms

Investments and Deposits

If you are looking forward to invest your money to accumulate returns, you can choose any of the following investment options:

Deposits Government Schemes Stocks and Securities
  • Fixed Deposit
  • Recurring Deposit
  • Flexi Deposit Scheme
  • Annuity Deposit scheme
  • Multi Option Deposit
  • SBI Tax Savings Scheme-2006
  • MACAD
  • Special Term Deposit
  • Floating Rate Bulk Term Deposit (FRBTD)
  • NPS
  • PPF
  • Capital Gains account
  • Gold banking
  • Senior Citizens Savings Scheme
  • Sukanya Samriddhi Account Scheme 2019
  • RBI Bonds
  • ASBA
  • Demat Services
  • Power Demat
  • Equity Fund Scheme
  • 3 In 1 Account With E-Margin Facility

Loans

To meet your short-term and long-term financial obligations, you get the following types of loans at attractive interest rates:

  • Personal Finance
  • Home Loans
  • Personal Loans
  • Auto Loans
  • Education Loan
  • Loans against Securities
  • Gold Loan
  • Consumer Durable Loans

Cards

  • Debit Card
  • Credit Card
  • Business Debit Card
  • Prepaid Cards
  • Green Remit Card
  • Card on file Tokenisation (COFT)

Digital Services

  • Internet Banking
  • Bhim SBI Pay
  • SBIePay
  • Mobile Banking
  • YONO
  • Whatsapp Banking.

SBI Corporate office Details with Contact numbers and Email ID

You can easily get in touch with the SBI customer care executive by calling on any of the following toll-free numbers:

  • Toll-free No: 1800 1234
  • Toll-free No: 1800 2100
  • Toll-free No: 1800 11 2211
  • Toll-free No: 1800 425 3800
  • 080-26599990 (Paid)

Drop an email at: customercare@sbi.co.in, contactcentre@sbi.co.in

Office Details:

Customer Service Department, State Bank of India (SBI), State Bank Bhavan, Sixteenth Floor, Madam Cama Road, Mumbai , Pin Code: 400 021

FAQs

From refinancing to reducing your interest, we have the answers right here.

Who is the founder of SBI?

Since it is a public sector bank, it has no founder. However, the SBI Bank is headed by Shri Dinesh Kumar Khara.

How can I find my SBI SWIFT code?

You can retrieve your SBI SWIFT code by either simply logging into your SBI net banking account or going through your recent bank statement.

Where can I find the SBI Bank IFSC code?

You can find the SBI Bank IFSC code either on the front page of your passbook or in the chequebook.

How can I get my SBI Bank account details online?

If you want to check your account details online, such as your account number, balance, etc., simply log into your SBI net banking account using your user ID and password and enter the captcha shown. The first page on the screen will display your account details. If you wish to view your account statement, click on the ‘Account Statement’ option on the left-hand side of the account details. Select the account number, statement period, etc., and click on the ‘Go’ option.

What type of bank is the State Bank of India?

The State Bank of India is a public sector bank.

What can I do with SBI net banking?

SBI net banking provides you with a plethora of services. You can transfer money online to other accounts, make online payments, open fixed deposit accounts, and do more.

What is the minimum balance in the SBI bank account?

The average monthly balance in the SBI savings account must be ₹3000, ₹2000 and ₹1000 in the metro, semi-urban and rural areas, respectively. However, SBI has recently announced that it will waive any non-maintenance charges.

Can I open an SBI account with a zero balance?

Yes, the State Bank of India allows you to open a zero-balance account. Such an account is primarily designed to enhance the financial inclusion of the economically weaker sections in the country.

How do I contact SBI customer care?

You can connect with SBI customer care by calling them on the following toll-free numbers:

  • 1800 1234
  • 1800 2100
  • 1800 425 3800
  • 1800 11 2211
  • 080-26599990

SBI toll-free numbers can be accessed from all mobile phones and landlines in the country.

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