Available nationwide, State Bank of India is offering a 1.85% APY when you open a Money Market Account.
Continue reading below to learn everything you need to know about State Bank of India.
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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.
State Bank of India Money Market 1.85% Rate
- Account Type: Money Market
- Interest Rate: 1.85% APY
- Minimum Balance: $0.01
- Maximum Balance: None
- Availability: Nationwide
- Credit Inquiry: Unknown
- 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
American Express Personal Savings Account - You earn 1.70% interest rate along with no minimum deposits or monthly fees. Amex Personal Savings has been my favorite Hub account for the past 5 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the Personal Savings website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express Personal Savings include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos UFB High Yield Savings and CIT Bank Savings Builder accounts offer great rates available nationwide. The Discover Online Savings and Chase SavingsSM account have nice sign-up bonuses.
|Discover Bank Online Savings||1.60% APY + $200 Cash||Review|
|CIT Bank Savings Builder||1.75% APY + $100/$200 Bonus||Review|
|UFB Direct High Yield Savings||1.90% APY||Review|
|Betterment EverydayTM Cash Reserve||1.83% APY||Review|
|American Express High Yield Savings||1.70% APY||Review|
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 1.85% APY rate.
|Balance Requirement||APY Rate|
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
Check out this offer from State Bank of India and open a Money Market account with an amazing 1.85% 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!
Check back often to see the latest info on State Bank of India Money Market.