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Deposits

Deposit Products

State Bank of India, Maldives offers various Deposit products to suit the varying needs of the customers. We offer

  • Term Deposit Account
  • Savings Bank Account
  • Current Account

The features of the various accounts are as follows:

Term Deposit Account
  • Term Deposit Account(in MVR and USD)
  • Attractive & Competitive Interest Rates
  • Minimum deposit as low as MVR 10000 or USD 1000
  • Choice of tenor
    • 3- 6 months
    • 6-12 months
    • 12-24 months
    • 24-36 months
  • Encashable anytime (conditions apply)
  • Loan facility against deposit at attractive rate
  • Applications to be filled up and submitted to us, duly enclosing the Know Your Customer (KYC) documents like National ID, Passport, Work Visa Card and Photograph
  • All types of deposits are covered under the Deposit Insurance Scheme of MMA up to MVR 30,000.00 per depositor.
Savings Bank Account
  • Savings Bank Account (in MVR and USD) Come and experience the joy of opening account through Welcome Kit (Issue of A/C No & ATM Card Immediate)
  • Initial Deposit of MVR 1,000 or USD 100
  • Attractive & Competitive Interest Rates to be paid at six months interval
  • Low minimum daily balance of MVR 1,000 or USD 100
  • No maintenance charges
  • Joint account facility available
  • SBI International ATM Debit Card (MasterCard enabled)
  • Transact seamlessly through Internet Banking
  • SMS Alert facility available
  • Passbook issued to record all transactions
  • Applications to be filled up and submitted to us, duly enclosing the Know Your Customer (KYC) documents like
    • National ID
    • Passport
    • Work Visa Card
    • Photograph (Not more than 3 months old)
Current Accounts
  • Current Account(in MVR and USD)
  • Initial Deposit of MVR 10,000 or USD 2,000
  • Internet banking facility available
  • Free SBI International ATM Debit Card (MasterCard enabled) for Individual accounts
  • Low minimum daily balance of MVR 5,000 or USD 500
  • Statement of Account by email at every month
  • Applications to be filled up and submitted to us, duly enclosing the Know Your Customer (KYC) documents.