State Bank of Travancore, along with other associate banks, merged with SBI from April 1, 2017. The following were the changes that have occurred following the consolidation:
How to apply for State Bank of Travancore FD: After the SBI entered into a merger deal with SBT and other banks, prospective customers will be able to apply for a fixed deposit scheme online through the SBI website. The process of applying for a time deposit is fast, easy and hassle-free. Account holders with an active internet banking account can initiate the process of opening an FD.
Tax saver FDs: Those who are seeking tax benefits can apply for the 5-year tax saving fixed deposit and get numerous benefits provided by the respective scheme. This type of FD is quite a safe investment but comes with a mandatory lock in period of 5 years.
NRIs term deposits: Even Non-Resident Indians (NRIs) have the opportunity to invest in NRI deposits such as NRO and NRE. These pay interest at attractive rates and offer those living outside the country a good way to earn tax-free returns on their investments.
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