Money Market Deposit Account- Business
Money Market Deposit Account Which Caters to Your Needs with SBI
Enjoy flexibility and cater to your financial needs with our Money Market Deposit Account services.
Opening a Money Market Deposit Account with SBI can be done for your business accounts subject to terms & conditions.
Features of Business Money Market Deposit Account
Signing up for a Money Market Deposit Account with us is simple and convenient. It has the following benefits for you:
- Deposits are insured with the FDIC for the prescribed limit per account by FDIC.
- Free issue of Debit card enabled for any ATM in USA & India, free of transaction charges.
- 6 debit transfers are permitted during a statement period. There is no restriction on the number of cash withdrawals at ATM or Bank’s teller counter.
- Should more than 6 debit transfers be effected during a statement cycle, an excess check writing fee will be levied per transfer.
- Tiered interest rates based on balances available in accounts.
- Online Banking, giving access to your Money Market Deposit Account on a 24/7 basis.
- Facility of Wire transfer/ International remittances
- Free INR Remittance through Online Banking/ processed by the branch on your request for transaction above $1000. Charges may be applied by beneficiary Bank in India.
- Free first 40 checks provided on account opening, issued on specific request of the customers.
Minimum Deposit for Business Money Market Deposit Account
The minimum amount for deposit in a Business Money Market Deposit Account is as follows:
|
Account Type
|
US based (Amount in USD) |
Non-US based (Amount in USD) |
|---|---|---|
|
Business Accounts |
$50,000 |
USD $100,000 |
For more information about Money Market Deposit Accounts, please read customer manual or get in touch with us at deposit.nyb@statebank.com / call on 212-521-3282 /283.