INSUBCONTINENT EXCLUSIVE:
The tenor for SBI holiday savings account is fixed at 12 months.State Bank of India or SBI, country's largest bank on basis of its assets,
in association with Thomas Cook, offers 'Holidays Savings account' for holiday goers
Under this scheme, investor can save monthly amounts in the form of a recurring deposit (RD) with SBI and avail a vacation package listed
under 'Holiday Savings Account' packages on Thomas Cook website
This e-RD account is generated in the name of the account holder as the account from which it is funded, according to SBI's website-
the package chosen by the customer, according to SBI's website.Interest ratesSBI holiday savings account earns interest as per the
prevailing interest rates for the 12 month period
RD account with additional rate of interest for senior citizens are issued if option for "Senior Citizen" is selected by the customer and
age of customer is 60 years or above, on the date of creating the recurring deposit, as per date of birth recorded with the bank, according
information file (CIF) value
The application of TDS may reduce the amount of funds transferred to Thomas Cook at the time of maturity, according to SBI.Penalty in case
of delay of paymentPenalty in case of delay in payment of instalment of RD is Rs 1.50 for every Rs 100, per month.Premature closurePremature
closure of this e-RD account is allowed and the bank's applicable premature withdrawal penalty is applied
If this e-recurring deposit account is closed prematurely, the proceeds are credited to the account from which the e-RD account was
initially funded.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on
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