Rates & Fees
Rates effective from 01/04/2024
| TERM DEPOSIT RATES | ||
| TENOR (IN MONTHS) | INTEREST RATE | |
| Card Rate | Special Rate | |
| 3 | 4.50 % | - |
| 6 | 4.75 % | - |
| 12 | 5.00 % | - |
| 24 | 4.90 % | - |
| 36 | 4.90 % | - |
| 48 | 4.50 % | - |
| 60 | 4.50 % | - |
Current account interest rates: at present current RBA cash rate is 4.35%
| Type of Current Account | Applicable Rate | Effective Rate |
|---|---|---|
| VOSTRO | Cash Rate -4.35% | 0.00% |
| Corporate / Public Account | NIL | 0.00% |
| Staff current account | Cash Rate + 0.50% | 4.85% |
| DSR Account | 6M TD Rate -0.25% | 4.65% |
*Special rate will be applicable on the single deposit of AUD 1.00 Mio and above.
Please contact us for special rates for above deposit amount AUD 5 Mio & above. Product Issuer of Term Deposits is State Bank of India, Australia AFSL 238340
Rates & Fees
Current Account & Term Deposit Fees and Charges
This document must be read in conjunction with SBIS Terms and Conditions
| Particulars | Current Account | Term Deposit |
|---|---|---|
| Account set up charges | Individual $50 Corporate $100 Bilateral Credit $200 |
Not applicable |
| Annual Account Maintenance Charges | $500 | Not Applicable |
| Charges for non-maintenance of
Average Quarterly Balance Balance to be maintained Individuals - $5,000 Corporate - $10,000 |
Individual $100 Corporate $200 (to be debited quarterly) |
Not Applicable |
| Transaction fee for customer transfers requests (MT103) | $25 per payment | Not Applicable |
| Additional Transaction / Cheque
Deposit Fees Cheque Deposit Electronic Transaction Fees applicable to your account will be charged at monthly intervals unless otherwise advised by SBIS. |
NIL | NIL |
| Outward Dishonour Fee Charged when direct debit or a periodic payment is dishonoured due to lack of cleared funds. |
$40.00 per dishonour | Not applicable |
| Inward Dishonour Fee Charged when a cheque deposited to your account is dishonoured. |
NIL | Not applicable |
| Honour Fee Charged on each occasion that the account is overdrawn or exceeds its maximum credit limit without prior arrangement with SBIS. |
$25.00 | Not applicable |
| Debit interest fees Charged on an overdrawn account that does not have an approved credit limit |
10% p.a. | 10 % p.a. |
| Re-presentation and Collection of Dishonoured Cheques A cheque which has previously been deposited into your account and dishonoured due to lack of funds can be presented again on a collection basis (SBIS forwards the cheque for payment to be made by the drawer's bank when sufficient funds are available). | $30.00 | |
| Statements Replacement Statements (per page) Additional Statements (per statement) May be printed and issued simultaneously with the original or printed simultaneously with the original and issued to a third party. Certificate of Balance |
$10.00 (min. $20.00) $10.00 |
|
| Duplicate / Triplicate Deposit Books | $3.00 | |
| Stop PaymentCheques reported stolen are exempt from this fee when a copy of the police report is provided. |
$15.00 | |
| Account Closure a. Accounts with balance of AU$ 25.00 or less (or its foreign currency equivalent) b. Accounts with balance more than AU$ 25.00 (or its foreign currency equivalent) |
Balance will not be returned Full balance will be returned |
Full balance will be returned |
| Transfer of Funds to Another Bank By
SBIS Customers An additional charge if lodging cheques Where transfer fees are paid by drawing on bank account of favouree (additional): Individual transactions Transactions drawn periodically |
$15.00 $0.35 per cheque
$3.00 per deposit $2.20 per deposit (min. $17.60 monthly drawing) |
|
| Confirmations/Certificate issued to Auditors on Customer request | AUD $100 per certificate | AUD $100 per certificate |
