After extending the service to urban middle class and rural poor State Bank of India (SBI) is now aggressively targeting the millionaires of the country.
This move by the bank is to shed its PSU image.
Posts Tagged ‘State Bank Of India’
Rs. 1 crore to open an account with SBI
September 4th, 2010 
Malvika 
Posted in News 
Tags: Attractive Feature, Bank Of India, Bank Officials, Banking Hours, Crore, Diwakar Gupta, Dressing Rooms, Goers, Hyderabad, Kohinoor Diamond, Open 24 Hours, Private Banks, Red Carpet, Relationship Managers, Rs 1, SBI, Star Amenities, State Bank, State Bank Of India, Urban Middle Class 
Comments OffLoans to get costlier as PSU’s increased their base lending rate
August 16th, 2010 Malvika 
State Bank of India (SBI), the country’s largest banking player on Monday beefed up its benchmark lending rate by 50 basis points to 12.25%.
Posted in Personal Finance Tags: 100 Basis Points, Bank Loans, Bank Of Commerce, Bank Of India, Base Lending Rate, Corporate Loans, Double Digits, Existing Customers, Fixed Deposit Rates, Maturities, Mid March, Money Lending, Oriental Bank Of Commerce, Prime Lending Rate, Public Sector Banks, Reserve Bank of India, SBI, State Bank, State Bank Of India, Tight Money Comments OffThe Increasing Wealth Management Services
March 29th, 2010 Malvika There are people who have a lot of money, but don’t know how to invest or deposit it wisely. They just leave it in the bank as dead asset. Sometimes they trust their friends or relatives and invest in some foolish schemes. These schemes may or may not give them returns. This is where the Wealth Management Services come in.
Posted in NRI Banking, NRI Investing, Personal Finance Tags: Abn Amro, Bank Of India, Canara Bank, Citigroup, Financial Institutions, Foolish Schemes, Foreign Money, Gold Funds, Latest Trends, Laymen, Management Sector, Management Service, nri, Personal Wealth Management, Preparing A Budget, Private Banks, Service Sectors, State Bank, State Bank Of India, Wealth Management Services Comments OffBest Banks in India – Career Wise
March 13th, 2010 Malvika Indian Banking Sector
In India Banking is still in the developing stage. A big part of it is under the control of the states. India’s largest bank, The State Bank of India, is very small compared to the globally large Citibank. According to The Banker magazine, SBI is only one tenth of Citibank, which is a sister concern of Citigroup in the USA. The next biggest bank in India is ICICI, which is only half the size of that.
Posted in india Tags: Abn Amro, Bank Of America, Bank Of India, Banking Sector In India, Banks In India, Best Banks, Foreign Banks, Giant Leaps, Government Stakes, India Banks, Job Security, Job Seekers, Mobile Accessibility, National Banks, Private Sector Banks, Profile Work, Public Sector Banks, Sister Concern, State Bank Of India, Suitable Business Comments OffSlowly banks are raising fixed deposit rates
February 26th, 2010 Tushar Mathur In the coming months fixed deposit can again be a good investment option as the deposit rates are on their way up. But the things will get better in fiscal 2010-11.
Last week HDFC Bank had raised its deposit rates by 25-150 basis points (one basis point equals one-hundredth of 1%) across various terms.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Bank Deposit Rates, Bank Liquidity, Bank Of India, Basis Point, Basis Points, Credit Suisse, Deepak, Fixed Deposit Rates, Gupta, Icici Bank, Investment Option, Loan Growth, Mallya, Maturities, Public Sector Union, SBI, State Bank, State Bank Of India, Union Bank, Union Bank Of India Comments OffBanks report surge in Casa ratio as against fixed deposits
February 4th, 2010 Tushar Mathur In the past few months term deposit rates have lost sheen as banks have reduced rates. Now people prefer to park their money in current account savings accounts (Casa) rather than investing their money in fixed deposits for longer duration.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Bank Of India, Banks Report, Current Account, December 31, Duration, Fixed Deposits, Hdfc Bank, Interest Rates, Investing Money, Private Sector Bank, Quarter Ended December, Rs 1, savings account, SBI, Sheen, State Bank, State Bank Of India, Term Deposit Rates, Term Deposits, Treasury Comments OffBanks low-cost deposits share drop to a 10-year low
December 28th, 2009 Tushar Mathur In the recent times group of pubic sector banks has witnessed drop in their low-cost deposits, the drop is a 10-year low While individuals are preferring bulk deposits and more are depositing more money in fixed deposits, which offered higher interests a year ago.
Also, the opening of customer-savvy private sector banks is responsible for bringing down investments in low-cost deposits (savings and current account balances) at public sector banks.
This year public sector banks, savings and current account balances accounted to 31 per cent of their total deposits, which was 34 per cent in 1999 and was at peak of 38 per cent in 2066, as per the study conducted by Indian unit of London-based investment banking group, Noble.
But among the public sector banks there have been some of the exceptional banks like State Bank of India (SBI) and Bank of Baroda (BoB).
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: Bank Of Baroda, Bank Of India, Current Account Balances, Fixed Deposits, Hdfc Bank, Icici Bank, Investment Banking Group, Liquidity, Private Banks, Private Sector Banks, Public Sector Bank, Public Sector Banks, Retail Loans, Salary Accounts, SBI, State Bank, State Bank Of India, Term Deposits, Times Group, Wholesale Deposits Comments OffTop 10 Mutual Funds in India
December 3rd, 2009 Tushar Mathur India can be an investors paradise or and investors nightmare. India was a region hit hard by the economic downturn of the last couple of years but has been bouncing back nicely from the nearly 53% lose taken last year.
Posted in business, india, Mutual Funds, News, NRI Investing Tags: Canadian Insurer, Capital Asset Management, Economic Downturn, Financial Services Group, Franklin Resources Inc, Franklin Templeton, Icici Prudential, India Fund, India India, Kotak Mahindra Bank, Kotak Mahindra Bank Ltd, Prudential Asset Management, Prudential Plc, Punjab National Bank, Reliance Capital, Standard Life Investments, Start Ups, State Bank Of India, Tata Group, Templeton Asset Management Comments OffIDBI Bank, Central Bank announces cut in deposit rates by 0.25-0.5 per cent
November 13th, 2009 Tushar Mathur Central Bank of India and IDBI Bank- two state-owned banks have slashed deposit rates by 0.25-0.5 per cent in various maturities in order to bring down the cost of funds.
Before country’s largest lender State Bank of India has reduced its deposit rates by a similar margin.
IDBI Bank revised rates will be effective from November 16 while the Central Bank has to yet announce the rate reduction officially.
After revision on one year to less than two years maturity deposits IDBI Bank offers a rate of 6.5 per cent as against 6.75 per cent, informed IDBI Bank sources.
On tenure 2 years to less than 1,100 days deposits, bank will offer rate of 7 per cent (7.25 per cent) while that of 1,100 days maturity deposits will now attract a rate of 7.25 per cent (7.5 per cent) earlier.
Moreover on 1,100-days to 5 years, 5-years to 7-years and 7-years to 10-years deposits bank will offer 7 per cent (7.25 per cent), 7.5 per cent (7.75 per cent) and 7.75 per cent (8 per cent) earlier, the bank said.
The bank said senior citizens will get 0.5 per cent above the card rate.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: 10 Years, Bank Of India, Bank Owned, banks, Central Bank Of India, Idbi Bank, Maturities, Maturity, Senior Citizens, State Bank, State Bank Of India, Tenure Comments OffBanks close deposit rates to where they were five years ago
October 21st, 2009 Tushar Mathur In the last few months the banks have slashed their deposit rates which have shrink depositors income. Banks have reduced interest rates (especially for deposits of up to one year) by about four percentage points in comparison to a year ago.
At present after the cut the deposit rates of 15 days to one-year period range from 3 per cent to 6.25 per cent per annum.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: 1 Crore, Bank Of India, Depositors, Fixed Deposits, Global Meltdown, Liquidity, Loan Growth, Market Interest Rates, National Bank, Peak Rates, Percentage Point, Percentage Points, Period Range, Repo Auctions, Reserve Bank of India, Rs 1, State Bank, State Bank Of India, Time Duration, Union Bank Comments OffSBI raised interest rates on corporate loans after reducing deposit rates
October 21st, 2009 Tushar Mathur Two days back country’s largest lender the State Bank of India (SBI) reduced its deposit rates aggressively. Now the bank has started increasing interest rates on corporate loans by up to 50 basis points.
This measure is a part of bank’s strategy to make sure its net interest margin (NIM) – improves over the next few months.
Net interest margin (NIM) is the difference between the cost of funds and the interest earned.
By June-end bank NIM has dropped to 2.30 per cent, is trying to attain back the 3 per cent comfort zone.
Posted in business, india, News, NRI Banking, NRI Investing, Personal Finance Tags: 12 Months, Bank Executives, Bank Of India, Basis Points, Comfort Zone, Corporate Loans, Credit Offtake, Fallout, Global Financial Crisis, Half A Dozen, Interest Income, Interest Margin, Mid Size, Net Interest, Nim, Prime Lending Rate, Rs 1, Slowdown, State Bank, State Bank Of India Comments OffICICI Bank slashes lending rates and SBI may declare cut in lending rates soon
June 10th, 2009 Invest In India The second largest lender in India, ICICI bank has cut the benchmark lending rates by 50 basis points with effect from 6 June2009. ICICI bank did not change its deposit rates and the current cut in the lending rate would benefit the existing retail loan customers who have availed of loans at floating rates.
Posted in NRI Banking Tags: Axis Bank, Bank Of India, Basis Points, Current Cut, Global Slowdown, HDFC, India State, Indian Economy, Inflation Rate, Liquidity Crisis, P Bhatt, Plr, Prime Lending Rate, Private Banks, Private Sector Banks, Public Sector Banks, Punjab National Bank, Reserve Bank of India, State Bank, State Bank Of India Comments OffIndian real estate price can fall 60 to 70% from current levels in the next five years
November 11th, 2008 Tushar Mathur The real estate sector in India may have seen its best time for the next several decades. The real estate markets now heads downward, as people cannot make their mortgage payments.
OP Bhatt, chairman of State Bank of India (SBI), the country’s largest bank, expects 50% correction in the housing sector prices in the country.
Posted in india, News Tags: America India, Bank Of India, Banking System, Credit Crunch, Global Banking, India Real Estate, Investment News, Mortgage Markets, Mortgage Payments, Next Five Years, Paradigm Shift, Real Estate Investment, Real Estate Sector, Residential Mortgage, Residential Sectors, SBI, State Bank, State Bank Of India, Subprime Mortgage Market, Takeovers Comments OffBanks started pulling off high-return FD schemes
November 10th, 2008 Tushar Mathur Interest rates have started suspending therefore banks have also started taking off the special deposit schemes under which they were offering higher interest rates.
Posted in business, india, News Tags: Allahabad Bank, Bank Of India, Best Time, Buckets, Crore, Deposit Scheme, Drawing Boards, Festive Season, Fixed Deposits, High Interest Rates, Liquid Cash, Nair, November 1, Rate Per Annum, State Bank, State Bank Of India, Uco Bank, Union Bank, Union Bank Of India, Union Bank Of India Ubi Comments OffSBI introduce 1000-days deposit scheme
September 30th, 2008 Tushar Mathur State Bank of India (SBI), from October 1 will be increasing its deposit rates in certain maturities.
According to SBI press release the bank has introduced a 1000-days fixed deposits scheme in which bank is offering 10.5 per cent interest to depositors.
Posted in business, india, News Tags: Bank 1, Bank Of India, Deposit Scheme, Depositors, Fixed Deposits, Lakh, Maturities, Periods, Press Release, SBI, Senior Citizens, State Bank, State Bank Of India, Tenure Comments Off
