Online Link Your AADHAAR Card No in Bank.

Friends,   Earlier I had shared that consumers can link online AADHAAR Card with LPG.  Now I want to share that Banks has also provided online facility to link your LPG Id or AADHAAR card.  This facility is available for those customers who are using Internet Banking facility of the bank.  Recently I have checked this facility in State Bank of India for which a screen view  is given below :-

Now customers are not need to visit at LPG distributor or in Bank for linking AADHAAR card information.  The same can be completed with the help of internet banking facility. 

-- Link your AADHAAR with LPG (Click Here)

State Bank of India :- What is New on 08.12.2014

Friends  

                State Bank of India has provided some new features for Internet Banking users or others.  Latest features are as Self Generation of  Form 15G or Form 15 H , Self conversion of Saving Bank Account to Saving Bank Plus (auto sweep facility for getting maximum interest in saving account) .  Detailed information are given below :-

Date of Introduction	Feature	Benefit
26-11-2014	Generation of 15G/H	An INB user can generate form 15G/15H through post login INB (under e-Fixed Deposit-Generate 15 G/H) branch-wise. He has to take a printout of it and submit the duly signed copy to the home branch for recording it in CBS.
26-11-2014	Conversion of SB to SB Plus	An INB user is not required to visit branch for creation of auto sweep facility. He himself can convert his SB account to Savings Bank plus through INB. To convert please go to e-Fixed Deposit->Change to Saving Bank Plus)
26-11-2014	ATM Card Limit/channel/usage change	An INB user can customize the daily limit of ATM card withdrawal also channel type and usage as per his daily needs through INB.
15-10-2014	TDS account linking	Now you can link/delink Savings Bank/Current Account/ Overdraft account for deduction of TDS amount on your fixed deposit through INB. For availing this facility, please go to e-Fixed Deposit> TDS Account Linking.
15-10-2014	View Mutual Fund Details	Now you can view details of unit held with SBI Mutual Fund. To view, please go to e-Services>SBI Group Services and complete the registration process.
15-10-2014	Recovery of service charges for failed Standing Instructions	“With effect from 15/10/2014, a service charge of Rs.25/- will be recovered per instance of failed standing Instruction/bill payment scheduled or with auto pay instruction, wherever the reason of failure is sufficient/clear funds not available or account has hold

To know more regarding Auto Generation of Form 15G or Form 15H (Click Here)

Form 15G / 15H Auto Generation in State Bank of India

Friends,  State Bank of India has recently provided an excellent utility in the name of Generate 15G / H.  Maximum fields like Name, Address, Mobile No, Pan , Deposit details with the banks generate automatically.   Some fields like A.O. Codes and nature of business were asked to enter manually. 

Requirement for generation of Form 15G / 15H

• SBI login user id and password.
• Any deposit in the shape of FDR with any branch of State Bank of India.
• Path for Generation of Form 15G or 15H. is given in below picture. 

The above generation is helpful for depositor & too much easy in generation of Form 15G and 15H.  This utility  also control in selection of  form  15G or 15H which depends on Date of Birth / corporation available with the bank.

State Bank of India :- Online Saving Bank Account Application

Friends   State bank of India has provided online application form for opening saving account in sbi for resident only.  It reduces time taken for opening of account at the branch  due to data already available in bank server.  Bank officials also feel free for wrong data entry as it is already entered by customers himself.  They  check only original I.D's mentioned in print out of online application form and approve the same.   Detailed general questions regarding online opening of saving bank account are given below :-

1. Saving Bank Online Account Application Process in Brief.
2. Benefits.
3. Information That You Will Need to Provide.
4. Documents That You Will Need to Provide.
5. Step-by-Step Account Opening Process.
6. FAQ's

1. Savings Bank Online Account Application Process In Brief

You may fill up an application online for opening a Savings Bank account. The process in brief would be as follows:

• Fill up and submit the required details online.
• Print the Account Opening Form (AOF) on A4 size white papers.
• Attach the required documents, such as photographs and proof of identity and address, as mentioned in the AOF.
• A TCRN (Temporary Customer Reference Number) will be generated, which please note down. TCRN will also be sent on the registered mobile number of the applicant(s).

2. Benefits

• Convenience:
• The AOF can be filled at your convenience and fields that can be validated are checked for errors.
• Quick:
• Time taken for opening of the account at the branch will get reduced as the data will already be available in the system.
• Safety:

3. Information That You Will Need to Provide

• For opening an account, you need to provide the following information:
• KYC (Know Your Customer) information: The acceptable KYC documents are available through drop down menu in the AOF.
• Information about the Savings Bank account you wish to open and the facilities you would want in the account.
• Form 60, if you do not have Permanent Account Number (PAN) of Income Tax.
• Form DA-1 (optional), if you wish to make a nomination (recommended).

4. Documents That You Will Need to Provide

For each person who wishes to open the account, you will need to provide:

• 2 Recent passport-size colored photographs.
• KYC documents as mentioned in the AOF.

If you give photocopies, please produce the original documents for verification when you visit our branch.

5. Step-by-Step Account Opening Process

Step 1: Fill the Customer Information Section

• This section will have to be filled for each person wishing to open the account.
• You must fill Part A first. Once you fill Part A and save the form, a Temporary Customer Reference Number (TCRN) will be generated which may please be noted. You will need it later to edit the form, if you desire, and to link the customer in the Account Opening Form.
• Subsequent parts in this step can be filled only after you have successfully filled Part A.

Step 2: Fill the Account Information Section

• Part A: Type of Account and Services Required.
• Part B: Nomination Form (optional but recommended).

Note:

• This section will have to be filled for each account that you wish to open.
• You must fill Part A first. Once you fill Part A and save the form, a Temporary Account Reference Number (TARN) will be generated which may please be noted. You will need it later to edit or print the form.
• Subsequent parts in this step can be filled only after you have successfully filled Part A.

After successful filling up of data in the account opening form, an SMS notification will be sent to 1st applicant's mobile number along with the TARN.

Step 3: Read the Savings Bank Rules

• Please read these rules carefully before signing the account opening form. By applying to the Bank for opening the account, you would be confirming that you have read the rules and that you agree to abide by these. A print of the same can also be taken by you after generation of TARN.

6. FAQ's

Q1: Who can submit information online for opening a Savings Bank account?

Ans :Any resident Indian desirous of opening a Savings Bank Account with any branch of State Bank of India.

Q2: Can I open an account jointly?

Ans :Yes. You may open an account jointly, with up to three applicants.

Q3: Will KYC documents be required for all account holders?

Ans :Yes. KYC documents in respect of all joint account holders will be required.

Q4: Can the KYC documents be different for the joint account holders?

Ans :Yes, provided each submits a set of KYC documents as stipulated by the Bank.

Q5: Can a minor submit information online for opening a Savings Bank account?

Ans :A minor may submit information online for opening a Savings Bank account provided he/she is more than 10 years old and can sign uniformly.

Q6: Can an account be opened in the names of more than three persons?

Ans :Yes, but in such cases you cannot submit the information online. Please approach the branch for opening such accounts.

Q7: Is there a time limit within which I must approach a branch after submitting the information online?

Ans :Yes, you must approach a branch within 30 days of submitting the information online. If the account is not opened within 30 days, your customer information will be deleted from our records.

Q8: I will have to submit my personal information online. Is it safe?

Ans :Yes. The page you will submitting your information is VeriSign secured and the information will be encrypted before transmission.

Q9: Can I submit the documents to the branch by email?

Ans :No. Each person who wishes to be an account holder will have to visit the branch personally, show his KYC documents, and sign the AOF in the presence of an authorized official of the Bank.

Q10: Can I submit the documents to any branch of SBI?

Ans :Yes. To locate a branch, use our Branch Locator. Once you have submitted the Account Opening Form to one branch, you will not be able to submit the same form to another branch.

Q11: I have forgotten the TARN. Can I retrieve it?

Ans :When the TARN is generated, it is also sent to you by SMS. If that SMS is not available with you, you will need to enter the information again and generate a new TARN.

TO OPEN SAVING BANK ACCOUNT ONLINE IN SBI  VISIT AT WWW.SBI.CO.IN

RBI :- Validity of Cheques upto 31-12-2012

         Reserve Bank of India has issued notification on 06-11-2012 regarding implementation of  CTS-2010 system in cheques w.e.f. 31.12.2012.  Old cheques will be applicable only upto 31-12-2012 after that new cheques format will be applicable .  Detailed notification issued by RBI is given below :-

RBI/2012-13/280

DNBS.PD/CC.NO.308/03.10.001/2012-13

November 6, 2012

All NBFCs
Dear Sir,

Standardisation and Enhancement of Security Features in Cheque Forms - Migrating to CTS 2010 Standards

"CTS-2010 standard“ is a set of benchmarks towards achieving standardisation of cheques issued by banks across the country. These include provision of mandatory minimum security features on cheque forms like quality of paper, watermark, bank's logo in invisible ink, void pantograph, etc., and standardisation of field placements on cheques. The benchmark prescriptions known as "CTS-2010 standard“ are to be implemented by December 31, 2012.

2. NBFCs accept post dated cheques from their customers for future EMI payments, and some of such instruments may not be compliant with the CTS-2010 standard. NBFCs are, therefore, required to ensure the replacement of Non–CTS-2010 standard compliant cheques with CTS-2010 standard compliant cheques before December 31, 2012.

3. The above instructions are issued in terms of Section 45 JA and 45K of the Reserve Bank of India Act, 1934 (Act 2 of 1934).

4. Please acknowledge receipt and confirm to the Regional Office of the Bank that a plan has been put in place for implementing the "CTS-2010 standard" within the prescribed timeline.

Yours sincerely,

(Uma Subramaniam)
Chief General Manager-in-Charge

State Bank of India :- Latest Interest Rates

The revised interest rates for Domestic Term Deposits

 ‘Below Rupees One Crore’ effective from the 7^th September 2012

would be as under:

                                                 (All figures in % per annum)      

Tenor	Below Rs.15 Lakhs		Rs.15 lakhs to less than Rs. 1 Cr
	Existing Rates w.e.f. 07.08.2012	Revised rates w.e.f. 07.09.2012	Existing Rates w.e.f. 07.08.2012	Revised rates w.e.f. 07.09.2012
7 days to 90 days	7.00	6.50	8.00	7.50
91 days to 179 days	7.00	6.50	8.00	7.50
180 days	7.00	6.50	8.00	7.50
181 days to 240 days	7.25	6.50	8.00	7.50
241 days to less than 1 year	7.50	6.50	8.00	7.50
1 year to less than 2 years	9.00	8.50	9.00	8.50
2 years to less than 3 years	9.00	8.50	9.00	8.50
3 years to less than 5 years	9.00	8.50	9.00	8.50
5 years and up to 10 years	8.50	8.50	8.50	8.50

The effective interest rates for Single term deposits of Rs 15 lacs and above but less than Rs 1 crore w.e.f. 7^thSeptember 2012 will be as under :

Tenor	Rs.15 lakhs and above  to less than Rs. 1 Crore
	Existing premiums w.e.f. 07.08.2012	Revised Premiums w.e.f. 07.09.2012	Effective Rate w.e.f. 07.09.2012
7 days to 90 days	100 bps	100 bps	7.50
91 days to 179 days	100 bps	100 bps	7.50
180 days	100 bps	100 bps	7.50
181 days to 240 days	75 bps	100 bps	7.50
241 days to less than 1 year	50 bps	100 bps	7.50
1 year to less than 2 years	-	-	8.50
2 years to less than 3 years	-	-	8.50
3 years to less than 5 years	-	-	8.50
5 years and up to 10 years	-	-	8.50

RESIDENT INDIAN SENIOR CITIZENS DEPOSIT RATES

The interest rates payable on deposits to resident Indian Senior Citizens (60 years and above) for Domestic Term Deposits ‘Below Rupees One Crore’ effective from the 7^th September 2012 stands revised as under:

                                                            (All figures in % per annum)

Tenor	Below Rs.15 Lakhs		Rs.15 lakhs to less than Rs. 1 Cr
	Existing Rates w.e.f. 07.08.2012	Revised rates w.e.f. 07.09.2012	Existing Rates w.e.f. 07.08.2012	Revised rates w.e.f. 07.09.2012
7 days to 90 days	7.00	6.50	8.00	7.50
91 days to 179 days	7.00	6.50	8.00	7.50
180 days	7.00	6.50	8.00	7.50
181 days to 240 days	7.25	6.50	8.00	7.50
241 days to less than 1 year	7.50	6.50	8.00	7.50
1 year to less than 2 years	9.50	9.00	9.50	9.00
2 years to less than 3 years	9.50	9.00	9.50	9.00
3 years to less than 5 years	9.50	9.00	9.50	9.00
5 years and up to 10 years	9.00	9.00	9.00	9.00

The effective interest rate for  Single term deposits of Rs 15 lacs and above but less than Rs 1 crore payable to resident Indian Senior Citizens (60 years and above) w.e.f. 7^th September 2012 will be  as under:

Tenor	Rs.15 lakhs and above  to less than Rs. 1 Crore
	Existing premiums w.e.f. 07.08.2012	Revised Premiums w.e.f. 07.09.2012	Effective Rate w.e.f. 07.09.2012
7 days to 90 days	100 bps	100 bps	7.50
91 days to 179 days	100 bps	100 bps	7.50
180 days	100 bps	100 bps	7.50
181 days to 240 days	75 bps	100 bps	7.50
241 days to less than 1 year	50 bps	100 bps	7.50
1 year to less than 2 years	-	-	9.00
2 years to less than 3 years	-	-	9.00
3 years to less than 5 years	-	-	9.00
5 years and up to 10 years	-	-	9.00

The interest rate payable to SBI Staff and SBI pensioners will be 1.00% above the applicable rates. The rate applicable to SBI Pensioners of age 60 years and above will be 1.00% above the rate payable to resident Indian senior citizens i.e. SBI resident Indian Senior Citizen Pensioners will get both the benefits of Staff (1%) and resident Indian Senior Citizens (0.50%). 

The proposed rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. The interest rates on “Capgains Plus”, “SBI Tax Savings Scheme 2006(SBITSS)” schemes and NRO deposits shall be aligned as per the proposed rates for domestic term deposits. However, NRO deposits of Staff are not eligible for additional 1% interest otherwise applicable to staff domestic retail deposits, These rates of interest shall also be made applicable to domestic term deposits from Cooperative Banks.

Premature Withdrawal:

(a)  There shall be no penalty for premature withdrawal of deposits below Rs 15 lacs for tenors 7 days to 180 days provided these have remained with the Bank for at least 7 days.

(b)   However, for single deposit of Rs 15 lacs and above, there shall be no penalty for premature withdrawal for tenors below 1 year provided these have remained with the bank for at least 7 days.

(c)   In other cases of premature withdrawal, the interest shall be 0.50% below the rate applicable for the period the deposit has remained with the Bank or 0.50% below the contracted rate, whichever is lower. However, no interest will be paid if the deposit remains with the bank for less than 7 days period.

(d)  These instructions for premature withdrawals will apply only to fresh deposits and renewed maturing deposits.

(e)   There is no discretion for reduction/waiver of penalty for premature withdrawal of term deposits.

(f)  No premature penalty will be levied from staff and SBI pensioners. Interest rate to be paid on premature withdrawal of term deposits by staff and SBI pensioners will be same as applicable for the period the deposit has remained with the Bank.

The revised interest rates on ‘Domestic Term Deposits’ of ‘Rs One Crore & above’ with effect from 7^th September 2012would be as under:

Tenors	Existing w.e.f.07.08.2012	Revised w.e.f.07.09.2012
7 days to 180 days	8.00	7.50
181 days to 270 days	8.00	7.50
271 days to less than 1 year	8.00	7.50
1 year to less than 2 years	9.00	8.50
2 years to less than 5 years	9.00	8.50
5 years to 10 years	8.50	8.50

No premium for SBI Staff, SBI Staff Pensioners & Senior Citizens or any other category of depositors shall be paid for such deposits.

Premature payment of term deposits:

The instructions regarding interest rate to be charged on premature payment of domestic term deposits are as under:-

a.    There shall be no penalty for premature withdrawal of bulk deposits of tenors below one year provided these have remained with the bank for at least 7 days.

b.    In other cases of premature withdrawal, the Interest shall be 0.50% below the rate applicable for the period the deposit has remained with the Bank or 0.50% below the contracted rate, whichever is lower. However, no interest will be paid if the deposit remains for less than 7 days period.

c.    These instructions for premature withdrawals will apply only to fresh deposits and renewed maturing deposits.

d.    There is no discretion for reduction/waiver of penalty for premature withdrawal of term deposits

The revised rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. The interest rates on NRO term deposits shall be aligned as per the rates for domestic term deposits. These rates of interest shall also be made applicable to domestic term deposits from Cooperative Banks.