What is Surbhi Current Account And How to Open it?

Anubhav Dwivedi -

What is Surbhi Current Account:

  • Surbhi Current Account bundles liquidity with better returns by providing sweep facility as a value added service to Corporates / Institutions / Trusts. Surbhi Current Account provides a scheme with sweep and reverse sweep option to Corporate Liquid Term Deposits (CLTD).

Features:

  • Low Monthly Average Balance :Rs 10000.
  • Free Cash Deposit upto Rs 25000/- per day.
  • UNLIMITED number of Payments and Withdrawal facility options are available at 22000+ Branches across India and Convenience to withdraw and deposit cash at all 22000+ SBI Bank branches.
  • Free Cash Withdrawal from Home Branch.
  • Free access to the Safest, Securest, Fastest Corporate Internet Banking.
  • Free collection through RTGS and NEFT .
  • Free 50 Cheque Leaves in a Financial year.
  • Monthly Average Balance (MAB) : Rs. 10,000 /-
  • Nature of Deposit : mSavings & Current Account linked to Corporate Liquid Term Deposit.
  • Period for CLTD
  • Minimum – 12 months
  • Maximum – 36 months
  • The period of deposit to be fixed by the depositor initially and the same is incorporated in the application form.
  • Minimum Amount of deposit to be maintained
  • For Current Account – Rs.10,000/-
  • For Savings Account – Rs.5,000/-
  • But threshold limit for auto sweep would be Rs 1 Lac. For CLTD – Initial deposits would be [ i.e. for the first sweep ]–Rs. 1,00,000/- and subsequent deposits would be in multiples of Rs.10,000/-
  • Over Draft Facility : NA
  • Business Debit Card
  • FREE
  • ATM/DEBIT CARD (1st Year)
  • Outstation Cheque Collection
  • Upto Rs. 10,000/-: Rs. 50/- +GST
  • Above Rs. 10,000/- - upto Rs. 1.00 Lakh : Rs. 100/- +GST
  • Above 1.00 Lakh : Rs. 200/- +GST
  • Transfer of Account to other Branch : FREE
  • Operation of Account

The balances in the Savings / Current account will be transferred automatically by means of auto sweep facility to term deposit / special deposit account on a weekly basis, whenever there are surplus funds in the account.

  • The tenure of deposits will be decided by the depositor at the time of opening the account.
  • The threshold limit in the operation account to be maintained will be at Rs.1,00,000/-(The excess amount over and above the said balance will be transferred to Corporate Liquid Term Deposit Account).
  • In case of necessity, the depositor may withdraw the amount by means of reverse auto sweep (i.e. breaking the deposit – Last in First Out – LIFO), in multiples of Rs.10,000/- to meet the shortfall and to maintain minimum balance.
  • Deposits broken through reverse sweep will be paid interest as per the card rates for such period applicable as at the date of opening of such deposits with penalty as applicable for premature withdrawal as in the case of premature payment of TDR/STDR
  • Rate of Interest : As applicable for Term Deposit / Special Term Deposit for the tenure the deposit is contracted. No differential rate of interest is applicable
  • Corporate Internet Banking : Free
  • Duplicate Statement of Current Account : Rs. 100/- + GST per page (40 entries)
  • Cheque Leaves :Number of Free Multicity Cheque Leaves
  • First 50 Multicity cheque leaves free in a financial year.
  • Cost of Extra Cheque Leaves Above Free Limit
  • Rs. 3/- + GST per cheque leaf. 25 Leaf Cheque Book at Rs. 75/- +GST.
  • 50 Leaf Cheque Book at Rs. 150/- +GST

How to Open Surbhi through visit SBI Branch:

We can provide you with necessary steps on how to open a regular current account through a visit to an SBI branch.

Here are useful steps for opening a current account at an SBI branch:

Visit the Nearest SBI Branch:

  • Locate the nearest SBI branch and visit it in person. You can find branch locations on the official SBI website or through other official channels.

Inquire About the Surbhi Account:

  • Speak to a bank representative at the branch and inquire about the "Surbhi Account." They will provide you with detailed information about the features, requirements, and the account opening process.

Collect the Account Opening Form:

  • Obtain the account opening form from the bank representative. This form contains fields for personal information, contact details, and other necessary information. You may also receive a brochure or document outlining the terms and conditions of the account.

Complete the Account Opening Form:

  • Fill out the account opening form accurately and completely. Provide all the required details and make sure to attach the necessary documents.

Submit Required Documents:

  • Submit the necessary documents along with the filled-out application form. Typically, you may need proof of identity, proof of address, passport-sized photographs, and any other documents specified by the bank.

Initial Deposit:

  • Some accounts may require an initial deposit. Ensure that you are aware of the minimum balance requirements and deposit the initial amount in the account.

Verification Process:

  • The bank may conduct a verification process for the information provided and the documents submitted. This may include checking the authenticity of your identity and address.

Receive Account Kit:

  • Once the verification is complete and your application is approved, you will be provided with an account kit. This kit typically includes your account number, checkbook, and other relevant details.

Activate Internet/Mobile Banking (if applicable):

  • If the account comes with internet or mobile banking facilities, you may need to activate these services separately. The bank will provide instructions on how to do this.
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