Available nationwide, State Bank of India is offering a 0.35% APY when you open a Money Market Account.
Continue reading below to learn everything you need to know about State Bank of India.
About State Bank of Indian Money Market
Founded in 1806, Bank of Calcutta was the first Bank established in India, and over a period of time, evolved into State Bank of India. SBI puts customers and clients at the center of everything.
State Bank of India offers a wide range of products and services to individuals, commercial enterprises, large corporate and institutional customers.
I’ll review State Bank of India Money Market below.
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State Bank of India Money Market 0.95% Rate
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- Account Type: Money Market
- Interest Rate: 0.35% APY
- Minimum Balance: $0.01
- Maximum Balance: None
- Availability: Nationwide
- Credit Inquiry: Soft Pull or Hard Pull?
- Opening Deposit: $5,000
- Credit Card Funding: Unknown. Let us know.
- Monthly Fee: $5,000 opening balance to avoid fees
- Early Termination Fee: None listed, check with CSR
(FDIC Insured)
State Bank of India ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | ? | ? | Maximum of six free withdrawals
$10 per statement cycle |
| Pull | ? | ? | ? | Maximum of six free withdrawals
$10 per statement cycle |
Editor’s Note: Let us know about SBI ACH Capabilities if you have any experience!
How to Earn SBI Rate
- Open an SBI Money Market Account with $5,000
- Maintain an account balance of at least $0.01 to earn the 0.95% APY rate.
| Balance Requirement | APY |
| $500-$49,999.99 | 0.15% APY |
| $50,000-$99,999.99 | 0.25% APY |
| $100,000-$249,999.99 | 0.30% APY |
| $250,000+ | 0.35% APY |
Why You Should Sign Up For This Account
- Interest bearing with $5,000 minimum balance for US Based consumer accounts
- Free Online Rupee remittance to India
- Free ACH transactions
- FDIC Insured up to $250,000
- Competitive Rates
Bottom Line
Check out this offer from State Bank of India and open a Money Market account with an amazing 0.35% APY rate! Take advantage of the services they have to offer along with these savings. Let us know about your experience with this bank and comment below.
For more bank offers, see the complete list of Best Bank Rates!
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