State Bank of India Business Savings Accounts

The State Bank of India, with origins tracing back over 200 years, offers most of its services internationally, including its business savings accounts. The State Bank of India has two business savings accounts currently on offer:

• ‘SBI Hi Return’ Business Fixed Deposit
  This account has an interest rate fixed for 1 year and paid at maturity. No further contributions can be added during the fixed term; however you may be able to open more than one fixed deposit account. There is a minimum limit on deposits of £50,000 and all deposits must be in sterling.

• Business Instant Access Savings Account
  This account has a variable interest rate that is paid monthly, and unlike the above offer there is no limit to the amount of withdrawals you can make.

If you would like some more information on deals offered by other providers, see the product comparison table below and find the right savings account for your business.

If you decide to take out a business savings account from the State of India, or perhaps another provider, there are some things to consider.

One of the main reasons people want to take out a business savings account rather than a current account is that they will usually have a significantly higher rate of interest. Notice accounts will tend to reward you with a higher rate of interest than no notice accounts.

However, with a notice account you will not have the freedom to make withdrawals. This choice is important when looking at the State Bank of India’s business savings account deals on this page, or some of the other offers featured in the comparison table.