State Bank of Bikaner & Jaipuroffers various deposit plans that you can choose from depending on the nature of deposit, term period, unique saving and withdrawal features. Apart from competitive interest rates and convenient withdrawal options, our deposit plans offer other features such as overdraft facility, outstation cheque collections, safe deposit lockers, ATM's etc.

Savings and Current deposits are ideal for individuals who wish to take advantage of multiple benefits within the same plan and even be eligible to opt for overdrafts. Depending on the nature of the account and the governing terms and conditions, SBBJ offers you under Savings Accounts, a choice between Savings Bank a/c or No frill Saral Bachat Khata A/c.

SBBJ also offers SBBJ Flexi Deposit scheme, where funds in your savings bank account earn term deposit interest subject to terms and conditions  

SAVINGS BANK ACCOUNT

Key Benefits Simplest deposit option available to the depositor. Easy to operate.Terms and conditions kept simple to facilitate understanding. No hidden costs. Low minimum balance requirement. Your deposits are insured by DICGC Option to withdraw money through withdrawal forms or by cheque or by ATM. An ideal option to cultivate the habit of banking and saving amongst the younger

generation. Students above 10 years can open accounts in their own names. Easy withdrawal of cash under single window concept. Provision for nomination. ATM cum debit card facility available 25 cheque leaves free per annum Facility for standing instructions Cheques drawn on other SBBJ branches can be credited immediately (subject to

charges). Outstation cheques of other Banks (upto Rs. 20000/-) can be credited immediately

(subject to charges).

Terms & Conditions

Money can be deposited freely in the account; there are no minimum or maximum deposit periods for this offering.

Minimum withdrawal amount Rs. 50/-; no maximum withdrawal ceiling subject to balance in account.

Minimum balance to be maintained (with or without cheque book facility)

 Amount (In Rs.)

Rural Branches Non-rural branches

With Cheque Book

Without Cheque Book

With Cheque Book Without Cheque

Book

Individual 500 250 1000 500

Others 500 250 1000 500

Pensioner 250 125 500 250

Documents required: Passport size photograph Proof of residence Proof of identity An introduction as per Bank's norms where ever is required PAN card or IT Declaration (Form 60/61) Documents such as passport, driving license, PAN card, election i-card, defence i-card,

etc accepted as proof of identity / residence.

Charges applicable For charges applicable on various services please refer schedule of charges. 

For further details, please contact the nearest State Bank of Bikaner & Jaipur branch.

SILVER SAVINGS ACCOUNT:

Account with facility of Free Accidental Insurance and other concessions.

 EligibilityMinimum Average Quarterly balance Rs. 5000/-

Type of account Single/ Joint

Accidental Insurance Free Accidental insurance for Rs. 1.00 lac.for first year.

ATM cum Debit Card Free- Domestic Card. Annual maintenance charges - Nil

Cheque Book 25 leaves free in a year,

Multicity Cheque Book

Available

Internet Banking Free

Utility bill payment through ATM

Free

OthersFree accidental insurance of Rs. 1.00 lac for first account

holder in case of joint account for first year.

Remaining terms and condition as per Savings Bank account. For further details, please contact the nearest State Bank of Bikaner & Jaipur branch

SURAKSHA SAVINGS BANK ACCOUNT:

Special account with facility of Life Insurance and Medi Claim Insurance on nominal premium and other concessions

 Minimum Balance Quarterly average balance of Rs. 50000/-

Add on Features (At depositors cost and is

compulsory)

SBBJ National Medikavach policy for minimum assured amount of Rs. 1 lacSBI Life Group Swadhan – for

miniumum 3 lacs (If the depositor is not eligible for any of the aforesaid policies, same may be obtained in the name

of any family member i.e. spouse, father, mother, son, daughter-in-law, daughter, son-in-law, brother, sister and

their spouses.)

ATM cum Debit Card Free Domestic Card : No annual maintenance charge

Internet Banking Free : Unlimited

Cheque Book 50 leaves free in a year

Multicity Cheque Book 20 leaves free in a year

Utility Bill Payments Free of cost – as per the present scheme.

through internet

Discount in locker hiring

50% concession on locker hiring charges for the first year on small sized locker in the name of the depositor or

his/her spouse (or in joint name with any family member) – Subject to availability at the branch.

Concession in other service charges

No

Service charges for non-maintenance of minimum quarterly average balance of

Rs.50,000/-

Rs.100/- per quarter only.

Personal Banking- ADVANCES

Deposits |  Advances |  Safe Deposit Lockers |  ..........................................................................................................................................

SBBJ Home Loan | SBBJ Realty | Housing Loan For Rajasthan Govt. Employees | Housing Loan Scheme For NRIs | Earnest Money Deposit Scheme For Purchase Of Land/HouseSBBJ Car Loan Scheme | Vishesh Vahan Yojna For Rajasthan Govt. Employees | SBBJ Education Loan Scheme | SBBJ Mortgage Loan Scheme | SBBJ Personal Loan |SBBJ Two Wheeler Loan Scheme | SBBJ Rent Plus Scheme | SBBJ Career Loan | Loan for Rajasthan Govt. Employees | SBBJ Home Cash | SBBJ Pension Loan | Loan for Power Sector Employees | SBBJ Reverse Mortgage Loan Scheme | SBBJ Happy-Home Loan |SBBJ EZEE Car Loan Scheme | SBBJ EASY HOME LOAN | SBBJ ADVANTAGE HOME LOAN | SBBJ HI-FIVE HOME LOAN | PENSION PLUS LOAN SCHEME |

......................................................................................................................................................................................

Personal Banking - ADVANCES

FINANCE: State Bank Of Bikaner & Jaipur has a variety of schemes under Personal Finance to satisfy varying needs of the banking public. The Bank offers the above schemes with attractive rates of interest:

NRI Services Services For Exporters And Importers | Savings Bank Account | Current Account |Term Deposit Account......................................................................................................................................................................................

India is one of the fastest growing economies of Asia and offer unique opportunities to Non-Resident Indians, both individuals and corporations, for investment. The country is looking towards its Non-Residents for flow of foreign exchange resources and invite all Non-Resident Indians to contribute their mite in its developmental activities. One of such avenues is deposit of funds with the banks and we, the State Bank of Bikaner and Jaipur, welcome you all for putting your deposits in any of our branches. State Bank of Bikaner and Jaipur is one of the associates of State Bank of India with over 833 offices in India and a network of correspondents all over the world. We can meet all your needs offering satisfactory Banking services.

State Bank of Bikaner and Jaipur offers Non-Resident (Ordinary) account and Non-Resident (External) account in Indian Rupees, Foreign Currency (Non-Resident) Accounts in Pound Sterling, US Dollar, Japanese Yen, EURO, AUD & CAD for the under mentioned customers:

Indian National or persons of Indian origin residing outside India. Usual Joint Account facilities like 'either or survivor'; 'both or survivor'; 'former or survivor'; etc. would be available. Accounts can be opened in the names of minors also. 

We offer the undernoted types of Accounts: Finest and fastest rates for any foreign exchange transaction, for any amount, and

for any delivery.

Forward cover as well as long term rollover covers.

Market intelligence from our extensive database.

Profiles, prospects, rate forecasts for foreign currencies.

Counseling, risk management and hedging of your total foreign exchange exposures in the long-term perspective.

Consultancy services on exchange controls, Import-Export policy and other formalities in foreign trade.

SERVICES FOR EXPORTERS AND IMPORTERS1. NON-RESIDENT (EXTERNAL) RUPEE ACCOUNTS:

Savings

Current

Term Deposit

Cumulative Deposit

Savings Bank Account:

This carries at present an interest of 3.50% p.a. (same as domestic Savings Bank rate) compounded half yearly and the minimum balance for a cheque operated account is Rs. 500/- 

Current Account:

A Current account can be started with as low a sum as Rs. 5000/-. While no interest is paid, any number of cheques can be issued on the account. 

Term Deposit Account:

The minimum amount is only Rs. 1000/-. Interest is payable at quarterly intervals. 

2. FOREIGN CURRENCY (NON-RESIDENT) ACCOUNTS (BANKS) SCHEME:The account can be opened as Term Deposit or as Special Term Deposit under Reinvestment Plan in Pound Sterling, US Dollar, Japanese Yen, EURO, AUD and CAD. Exchange risk in respect of funds remitted by you to India as well as in repatriating the balances in foreign currencies, alongwith interest accrued thereon, will be borne by us. You will get back your deposits Stg. Pound for Stg. Pound, US Dollar for US Dollar. You are thus totally insured against fluctuations in exchange rates.

The interest on a Foreign Currency (Non-Resident) account will also be payable in the currency in which the account is maintained.

The most convenient way to remit amounts to these accounts is by a draft in the designated currencies. The balances in the existing Non-Resident (External) accounts in Rupees can also be converted into one of the designated currencies and foreign currency (Non-Resident) accounts opened in your name. In case you remit moneys in a currency other than the designated currency it can be converted into one of the designated currencies according to your choice for opening the accounts in your name

International Banking

Services for Exporters and Importers | Services for Domestic customers | SBBJ Expo Gold Card  | Export Credit Interest rate | Interest Gold Card | Service Charges | List of our Authorized Dealer Branches

......................................................................................................................................................................................

International Banking services of State Bank of Bikaner & Jaipur are delivered for the benefit of its Indian customers, non-resident Indians, foreign entities and banks. Amongst the various services offered by us are Export finance by way of preshipment and postshipment finance,other consultancy services to exporters and importers,and services to domestic customers, overseas tourists, travelers by way of remittance facility, encashment and sale of Foreign currency and travellers' cheques, collection of cheques/drafts and other instruments. For this purpose 68 of our branches are authorized to do Forex business.  

WE ALSO OFFER Finest and fastest rates for any foreign exchange transaction, for any amount, and for

any delivery.

Forward cover as well as long term rollover covers.

Market intelligence from our extensive database.

Profiles, prospects, rate forecasts for foreign currencies.

Counseling, risk management and hedging of your total foreign exchange exposures in the long-term perspective.

Consultancy services on exchange controls, Import-Export policy and other formalities in foreign trade.

SERVICES FOR EXPORTERS AND IMPORTERS1. (i) Pre-shipment credit to eligible exporters in rupees at concessive rate of interest for

Purchasing / manufacturing / processing / transporting of goods meant for export against L /c / Firm Order etc. Running A/c facility is also being provided to exporters having good track record.

(ii) Pre-shipment Credit is also being provided by our designated branches in Foreign Currency under PCFC Scheme at LIBOR linked rates.

(iii) Pre-shipment Credit at concessive rate of interest against incentives receivable from government for exports covered by ECGC guarantee.  

2. Post-shipment finance by meant of (i) Negotiation of documents under letter of credit. (ii) Purchase/discount of bills. (iii) Advance against bills sent for collection at concessive rate of interest.

(iv) Advance against goods sent on consignment basis where documents are delivered under trust receipt. (v) Advance against receivables from government agencies like cash incentives, Duty Drawback etc. at concessive rate of interest upto 90 days.

The Post-shipment finance can be provided under the following schemes :-1. Post-shipment finance provided in rupees at concessional rate.

2. Post-shipment finance in foreign currency under Export Bill Rediscounting Scheme at LIBOR linked rates. It is obligatory to avail EBR if PCFC is availed at pre shipment stage.

3. Arranging foreign currency loans, suppliers credit etc.

4. Issuance of Bid Bonds to exporters competing/quoting in global tenders.

5. Issuance of performance guarantees to exporters when contract is awarded.

6. Issuance of advance payment guarantees to exporters for obtention of advance payment from the buyers.

7. Prompt, speedy and efficient L/c opening, negotiations etc.

8. Speedy processing of documents.

9. Opening of EEFC accounts at our authorised branches.

IMPORT AVENUE:LETTER OF CREDIT

Leverage State Bank Group's reputation and goodwill in the global market! Avail of SBBJ's Letters of Credit for your purchases in international and domestic trading operations.

SBBJ offers Letters of Credit to facilitate purchase of goods in international trading operations. Backed by State Bank Group's strong reputation, you will be able to build better trust in trade and forge business relationships faster.

The bank's vast network of branches and correspondent banks enables your enterprise to sustain a seamless flow of business on a wide platform.

SERVICES FOR DOMESTIC CUSTOMERS/TRAVELLERS, OVERSEAS TOURISTS 1. Collection of cheques, drafts, instruments in any country/currency in a short time with the

aid of courier services.

2. Acceptance and payments of inward remittance in any currency.

3. Issue/encashment of Foreign Currency Travellers' Cheques, Drafts, MTs, TTs, and

Currency Notes.

4. We issue encashment certificates, Foreign Currency realisation certificates, Freight certificates etc. for purposes relating to Forex business.

SBBJ EXPO GOLD CARD SCHEME

State Bank of Bikaner & Jaipur has launched "SBBJ EXPO GOLD CARD SCHEME" to meet the working capital needs of exporters with good track record and credit worthiness, subject to their fulfilling the specified eligibility norms. The salient features of the scheme are as under:

Assessment norms have been simplified and for units with export turnover up to Rs. 100 crore simplified assessment in terms of Nayak Committee norms will be made within specified time norm not exceeding 25 days in case of new sanctions and 15 days in case of renewals.

Further relaxations, subject to certain conditions, in the form of automatic renewal of limits after the three year tenure as also simplified method for effecting annual step-up in limits is being examined by the Bank.

Standby limit of 20% will be sanctioned to all the SBBJ Expo Gold Card holders over and above the sanctioned limit to meet credit demands arising out of receipt of sudden orders.

Limits sanctioned will be valid for a period of three years.

Interest will be charged at concessional rate from the Gold Card holders. The present rate for Packing Credit up to 180 days and Post-shipment credit up to 365 days would be 3.75% below the Bank's benchmark Prime Lending Rate. Also, SBBJ Expo Gold Card holders will be given preference for grant of packing credit in foreign currency.

Corporate Banking-

Interest Rates In C&I Segment:

..........................................................................................................................................DEPOSIT:Regular Current Account | Diamond Current Account | Gold Current Account |SME Power Pack Current Account | Flexi Deposit SB & CD Accounts |POWER JYOTI Current Account for Fee Collection

ADVANCE:Mortgage Loan for Trade & Services

.........................................................................................................................................................

.............................

 

  REGULAR CURRENT ACCOUNT:

Features and Benefits:

Minimum average quarterly balance criteria is as under:

 AreaMinimum Average Quarterly balance

 Penalty on default of QAB

Rural Rs. 2500.00

Rs. 500.00

Non-Rural Rs. 5000.00

Deposit your local cheques in one branch of a city and have it credited to your account at a branch in another city or make payments across SBBJ Bank locations using Core Power facility at a nominal rate. Free collection thorough NEFT / RTGS / ECS. Payment through NEFT / RTGS / ECS at a nominate rate. Cheques payable at par at all RBI's Speed Clearing Centres in all over the Country.  

DIAMOND CURRENT ACCOUNT

Features and Benefits: Minimum average quarterly balance (QAB) of Rs. 1,00,000/-. Free Cheque leaves 500. (Including Multicity Cheques). Free Account to Account (in same title) Fund Transfer within bank. Reduced Demand Draft Issue charges: Rs. 0.50 per thousand with a minimum of Rs.

25/- and Max. Rs. 5000/-. Free Banker's Cheque Free Folio Charges Free Banker's Cheque Instant Credit * (per day) up to Rs. 50,000/-. Multicity Cheque Facility - transaction charges - Rs. 25/- per cheque up to Rs. 5.00 lacs

and Rs. 50.00 per cheque for amounts above Rs. 5.00 lacs.

*Instant Credit Facility will be provided only to satisfactorily run accounts, which fulfill under noted conditions:- (a) QAB never goes below the prescribed limit. (b) No cheques are returned unpaid. Penalty for non-maintenance of QAB (per quarter) - Rs. 2000.00

GOLD CURRENT ACCOUNT

Features and Benefits: Minimum average quarterly balance (QAB) of Rs. 50,000/-. Free Cheque leaves 300. (Including Multicity Cheques). Free Account to Account (in same title) Fund Transfer within bank.

Reduced Demand Draft Issue charges: Re. 1.00 per thousand with a minimum of Rs. 25/- and Max. Rs. 5000/-.

Free Banker's Cheque Free Folio Charges Instant Credit * (per day) up to Rs. 25,000/-. Multicity Cheque Facility - transaction charges - Rs. 25/- per cheque up to Rs. 5.00 lacs

and Rs. 50.00 per cheque for amounts above Rs. 5.00 lacs.

*Instant Credit Facility will be provided only to satisfactorily run accounts, which fulfill under noted conditions:- (a) QAB never goes below the prescribed limit. (b) No cheques are returned unpaid. Penalty for non-maintenance of QAB (per quarter) - Rs. 2000.00

SME POWER PACK CURRENT ACCOUNT: Another value added product for our current account holders of SME and Trade segments on maintaining

Features and Benefits:

Minimum Quarterly Average Balance (QAB) of Rs. 5,00,000.00 lacs. Free Cash handling charges Free Drafts. Free TT/STEPS/RTGS Free Multicity Facility - Issue and transaction charges. Free Inter core transaction. Free deposit of cheque at any SBBJ Bank branches. Free deposit of clearing cheques at non-home branch drawn on that clearing center for

credit of account at home center. Free remittance of funds from Home branch to other CBS branch.

Penalty for non-maintenance of QAB (per quarter) - Rs. 2000.00

FLEXI DEPOSIT - SAVING & CURRENT ACCOUNTS:

Features and Benefits:

Minimum balance criteria for Current Account are Rs. 10,000/- and Saving Bank Account Rs. 1,000.00.

The surplus fund over and above threshold limit is auto swept to term deposit / special term deposit account on weekly basis.

The tenure of deposit is decided by the depositor at the time of opening of 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. 1,000/- to meet the shortfall and to maintain minimum balance.

Deposit 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. Rate of interest - As applicable for Term Deposit for the tenure the deposit is

contracted.

POWER JYOTI CURRENT ACCOUNT FOR FEE COLLECTION: To cater the need of Educational Institutions, Coaching Classes, Tuition Fees Centers, Charitable Organizations etc. which require the generic (standard) fee collection facility, we 'POWER JYOTI' current account product at

Features and Benefits:

Minimum quarterly average balance (QAB) of Rs. 1,00,000.00. Different types of fees (up to 10 times) can be collected through a single challan. It has a provision to capture 17 digit alphanumeric number as the reference no. Transaction other than fee collection is not permitted in non-home branches. Corporate Internet banking facility - Free. Chequebook facility not available. The Institution can transfer the required balance

through authorization / sweep. Cash handling charges - Waived.

Penalty for non-maintenance of QAB (per quarter) - Rs. 2000.00

ADVANCES:

MORTGAGE LOAN FOR TRADE & SERVICES:

The loan can be granted for:

Funding of normal working capital Expansion, shifting to new or better premises Should not be for acquisition of land or building unrelated to the business. Not for capital market operation

Nature of Facility: Term Loan repayable in 84 months Cash Credit Both Fund Based and Non-Fund based limits

Quantum of Loan: Minimum - Rs. 100,000.00 Maximum - Rs. 5.00 Crores

Interest Rates: @ 0.75% below SBBJ BPLR.

Security:

Primary: Hypothecation of stocks and receivables. Collateral: Tangible security of minimum of 133% of loan amount in the form of

Equitable Mortgage of Land and Building.

Processing Charges :

 Type of Limit Processing Charges

Working Capital: (Fund based + Non-fund based)

For limits - Rs. 25000/- to Rs. 2.00 lacs

For limits above Rs. 2.00 lacs to Rs. 1.00 crore

For limits above Rs. 1.00 crore to Rs. 5.00 crores

 

Rs. 500.00

Rs. 500/- per lac or part thereof

Rs. 400/- per lac or part thereof with a min. of Rs. 50,000/-

Terms Loans above Rs. 2.00 lacs Upfront fee of 1.25% of the loan amount

* FOR DETAILED FEATURES & BENEFITS OF EACH PRODUCT, PLEASE CONTACT TO ANY SBBJ BRANCH.

Corporate Banking

Interest Rates In C&I Segment:......................................................................................................................................................................................

Interest rates in C&I segment:a) Interest rate in general C&I segment advances is linked with BPLR.Our Bank's BPLR is 12.25 % w.e.f. 06.07.2009.

b) Rate of Interest chargeable in different Loan Schemes under C&I Segment is as under;  

S.No. Name of the Loan Scheme

 

Rate of Interest

1 MORTGAGE LOAN UNDER C&I

Cash Credit - @ 0.75 % below SBBJ BPLRTerm Loan -  @ 0.75 % below SBBJ BPLR.

2 SBBJ PARIVAHAN

Effective rate of interest for Term Loan at 1.75 % below BPLR for Cash Credit 1.00% above BPLR

3 SBBJ SHIKSHAYATN PLUS 

Size of credit limit                                 Rate of Interest

 

Upto Rs. 2 lakhs-                            (1.50  % below BPLR)  

                                                                                

Above Rs.2 lakhs & upto Rs.5 lakhs-         (At par BPLR)

 

Above Rs.5 lakhs &upto Rs.25 lakhs-                              (1.00 % above BPLR) 

 

Agriculture Products

Schemes |  Interest Rate |  Applications......................................................................................................................................................................................

We, at State Bank of Bikaner & Jaipur have always understood the need for developing the agrarian community of the nation. As such we are committed to the development of Agriculture, not only in the state of Rajasthan , but also elsewhere in the country. To cater to the needs of the farmers, we offer finance for a number of activities as enumerated below

Kisan Credit Card  Scheme (KCC) Kisan Gold Card Scheme (KGC)  Loans for Purchase of Agricultural Implements:

Tractor Plus Thresher, Implements etc.

Minor/Micro  Irrigation  Scheme:

■         Loan for new wells /deepening of wells/Bore wells

■         For pump sets diesel/electric/submersible.

■         For conveyance Pipes/Lining of water courses.

■         For sprinkler sets

■         For drip sets

■         For construction of Diggies in Canal areas.

■         Rain water harvesting Schemes for SC/ST farmers

Loans for activities allied to Agriculture

■         Dairy Loans

■         Scheme for members of dairy Co-operative societies for purchase of cattle etc.

■         Loans for Poultry/Sheep/Goat rearing.

 

 Loans for Medicinal & Horticulture Plantation Kisan Vahan Yojana Vermi Compost Scheme for Organic Farming For development of storage facilities

■         Construction of farmers/Rural godowns

■         Cold storage

For Rural housing – Gramin Awas/ Sahyog Niwas Schemes. Arthias Plus scheme. Loans to Agri Input seeds, fertilizers/Agri. Machinery dealers/Cattle feed and  Poultry

feed dealers.

Others.

GOVERNMENT BUSINESSPublic Provident Fund – 1968 | Other Facilities | Senior Citizen Scheme-2004 | Salient FeaturesDeposits And Withdrawals | Mode Of Deposit | Renewal | Interest On Deposit | Maturity | Death Of The Depositor | Premature Closure Of Account | Transfer Of Account | Authorized Branches ......................................................................................................................................................................................

State Bank of Bikaner & Jaipur is the premier Bank in Rajasthan and is looked upon as the Bank wholly patronised by the Government of Rajasthan. As such SBBJ's linkage with Government Business is quite widespread and nearly 318 of its branches offer one or more of the following services to its customers:

1. Receipts and Payments on behalf of Rajasthan State Government

2. Collection of taxes for Central Board of Direct Taxes

3. Collection of taxes for Central Board of Excise and Customs

4. Transaction on behalf of Post & Telegraph Department

5. Transaction on behalf of Railway Department.

6. Transaction on behalf of Defence Department.

7. Public Provident Fund Scheme - 1968

8. Senior Citizen Savings Scheme - 2004

9. Pension Payment to Government Employees

PUBLIC PROVIDENT FUND - 1968

Scheme introduced by Central Government in 1968. The Scheme enables the members of the public to make contributions to the Fund and obtain Income Tax rebate under the relevant provisions of the Income Tax.

Eligibility Individuals

Individuals on behalf of a minor

Minimum / Maximum Investment ( w.e.f. 15-11-2002 )

Minimum Rs.500/- per annum in multiples of Rs.5/-Maximum Rs.70,000/- per annum

Duration 15 years

Can be extended for one or more blocks of 5 years

Account can be discontinued but repayment of subscriptions along with interest only after 15 years.

Rate of Interest

8% per annum credited in account on 31st March every year calculated on the minimum balance between 5th day and end of the month.

Loans

Loan upto 25% of balance at the end of first financial year from third to sixth year. Second loan can be taken on full payment of first loan.

WithdrawalsOnly one withdrawal allowed during any one year from sixth year. Withdrawal limited to 50% of the balance at the credit at the end of 4th year preceding the year in which the amount is withdrawn or the end of the preceding year whichever is lower.

The account extended beyond 15 years; partial withdrawal allowed up to 60% of the balance to the credit at the commencement of the extended period.

Tax Benefits Benefit available u/s 88 of the I.T. Act.

Interest totally exempt from Income Tax.

Amount standing to the credit is fully exempted from Wealth Tax.

Other Facilities Subscription in one or more maximum 12 installments.

Nomination available in the name of one or more persons.

Nominee can not continue account of the deceased subscriber in his/ her own name.

An account may be transferred at the request of the subscriber free of charge by one branch of State Bank of India or its Associates to Head Post Office or vice versa.

Premature closure of a PPF account on grounds of genuine hardship could be considered only after the expiry of five years from the end of the year in which the account was opened.

The subscriber may discontinue his account anytime after joining the fund. The repayment of the subscription with interest will be made only after 15 years form the end of the financial year in which the account was opened.

Discontinued account can be revived on payment of Rs.50/- per year along with arrears of subscription of Rs.500/- per year.

GOVERNMENT BUSINESSPublic Provident Fund – 1968 | Other Facilities | Senior Citizen Scheme-2004 | Salient FeaturesDeposits And Withdrawals | Mode Of Deposit | Renewal | Interest On Deposit | Maturity | Death Of The Depositor | Premature Closure Of Account | Transfer Of Account......................................................................................................................................................................................

Senior Citizen Scheme-2004

Government of India have decided to operate the scheme through all branches of Public Sector Banks which are operating PPF Scheme, 1968. 

Eligibility An individual who has attained the age of 60 years and above on the date of

opening of an account.

who has attained the age of 55 years or more but less than 60 years and who has retired on superannuation or otherwise on the date of opening an account.

who has retired at any time before the commencement of these rules and attained the age of 55 years or more on the date of opening of an account,

The retired personnel of Defence Services (excluding civilian Defence employees) irrespective of the above age limits subject to fulfillment of other specified conditions.

NRI

NRI's are not eligible to open an account under these rules. 

HUF

Hindu Undivided Family is also not eligible to open an account under these rules.

Salient features Any depositor may open an account at any deposit office by making an application in

Form A alongwith the amount of deposit in multiple of one thousand rupees, along with age proof.

A depositor may operate more than one account subject to the condition that

deposits in all accounts taken together shall not exceed the maximum limit of Rs.15 lakh and provided that deposits by depositors shall be restricted to the retirement benefits of Rupees fifteen lakh whichever is lower.

A depositor may open the account in individual capacity or jointly with spouse.

Deposits and withdrawalsThere shall be only one deposit in the account in multiple of one thousand rupees not exceeding rupees fifteen lakhs.

No withdrawal shall be permitted under these rules before the expiry of a period of five years from the date of opening of an account.

Mode of DepositThe deposit under these rules may be made :a. In cash, if the amount of deposit is less than rupees one lakhs.

b. By cheque or demand draft drawn in favour of the depositor and endorsed in favour of the deposit office.

RenewalThe depositor may extend the account for a further period of three years after the maturity period of five years. An application in Form B should be made within a period of one year after the date of maturity period.

Interest on DepositThe deposit made under these rules shall bear interest @ 9 % p.a. from the date of deposit payable at the end of each calendar quarter e.g. 31st March / 30th June / 30th September / 31st December.

NominationThe depositor may nominate a person or persons, at the time of opening of the account or at any time after the opening of the account but before its closure, by an application on Form C accompanied by the passbook to the Branch.

Nomination made by the depositor can be cancelled or varied.

Closure of Account......................................................................................................................................................................................

Maturity

The deposit made at the time of opening of account shall be paid by the concerned deposit office after the expiry of five years from the date of opening of the account on production of the passbook accompanied by a written application (withdrawal form) Form E.

In case the depositor does not close the account on maturity and also does not extend the account, the account will be treated as matured and the depositor will be entitled to interest at the rate applicable to the deposits under post office savings account during the post maturity period.

Death of the depositor

In case of death of the depositor before maturity the account shall be closed and deposit refunded on application in Form F alongwith interest to the nominee or legal heirs in case the nominee has also expired or nomination was not made as per rules.

If the total amount including interest payable is upto rupees one lakh it may be paid to the legal heirs on production of (i) letter of indemnity (ii) an affidavit (iii) a letter of disclaimer on affidavit (iv) a certificate of death of the depositor on stamped paper in the form as in Annexure to Form F.

Premature closure of Account

On an application in Form E the depositor may be permitted to withdraw the deposit and close the account at any time after the expiry of one year from the date of opening of the account subject to the following conditions :-(a) In case the account is closed after the expiry of one year but before the expiry of two years from the date of opening of the account, an amount equal to one and half percent of the deposit shall be deducted and the balance paid to the depositor.(b) In case the account is closed on or after the expiry of two years from the dat of opening of the account, an amount equal to one percent of the deposit shall be deducted and balance paid to the depositor.

Transfer of Account

A depositor may apply on Form G for transfer of his account from one deposit office to another in case of change of residence. 

Know Your Customer Standards and Anti-Money Laundering Measures......................................................................................................................................................................................

1. Preamble 2. Definition of Money Laundering 3. Obligations under Prevention of Money Laundering (PML) Act, 2002

4. Money Laundering - Risk Perception

5. Policy Objective

6. Scope

7. Definition of a customer

8. Key Elements of the Policy 8.1    Customer Acceptance Policy8.2    Customer Identification Procedure8.3    Monitoring of Transactions8.4    Risk Management

9. Customer Education

10. Introduction of New Technologies

11. KYC for the existing accounts

12. Branches and subsidiaries outside India

13. Correspondent Banking

14. Principal Officer (Money Laundering Reporting Officer)

15. Review of the Policy

Know Your Customer Standards and Anti-Money Laundering Measures......................................................................................................................................................................................

  1

Preamble :In terms of the guidelines issued by the Reserve Bank of India on the 29th November, 2004 on Know Your Customers (KYC) Standards - Anti Money Laundering (AML) Measures, banks are required to put in place a comprehensive policy framework covering KYC Standards and AML Measures. The guidelines issued by the Reserve Bank of India take into account the recommendations made by the Financial Action Task Force (FATF), an inter governmental agency, on AML Standards and on combating financing of terrorism. The guidelines also incorporate aspects covered in the Basel Committee document on customer due diligence which is a reflection of the international financial community's resolve to assist law enforcement authorities in combating financial crime. This policy document is prepared in line with the RBI guidelines and incorporate the Bank's approach to customer identification procedures, customer profiling based on the risk perception and monitoring of transactions on an ongoing basis.

 

2 Definition of Money Laundering :Section 3 of the Prevention of Money Laundering (PML) Act, 2002 has defined the "Offence of money laundering as under :-

 "Whosoever directly or indirectly attempts to indulge or knowingly assists or knowingly is a party or is actually involved in any process or activity connected with the proceeds of crime and projecting it as untainted property shall be guilty of offence of money laundering."

 Money launderers use the banking system for cleansing 'dirty money' obtained from criminal activities with the objective of hiding/disguising its source. The process of money laundering involves creating a web of financial transactions so as to hide the origin and true nature of these funds.

For the purpose of this document, the term money laundering would also cover financial transactions where the end use of funds goes for terrorist financing irrespective of the source of the funds.

 

3 Obligations under Prevention of Money Laundering (PML) Act, 2002Section 12 of PML Act, 2002 places certain obligations on every banking company, financial institution and intermediary, which include.

maintaining a record of prescribed transactions- furnishing information of prescribed transactions to the specified authority

verifying and maintaining records of the identity of its clients.

preserving records in respect of (i), (ii) (iii) above for a period of ten years from the date of cessation of transaction with the clients.

These requirements would come into effect after Govt. of India frames rules under the Act.

 

4

Money Laundering - Risk Perception: Money Laundering activities expose the Bank to various risks such as operational risks, reputation risk, compliance risk and legal risk.

 

5 Policy Objectives    To prevent criminal elements from using the Banking System for money

laundering activities. To enable the Bank to know / understand the customers and their financial

dealings better, which in turn would help the Bank to manage risks prudently. To put in place appropriate controls for detection and reporting of suspicious

activities in accordance with applicable laws/laid down procedures. To comply with applicable laws and regulatory guidelines. To take necessary steps to ensure that the concerned staff are adequately

trained in KYC/AML Procedures.

 

6

Scope :This policy is applicable to all branches/offices of the Bank and is to be read in conjunction with related operational guidelines issued from time to time.

 

7 Definition of a Customer :A customer for the purpose of this policy is defined as :

A person or an entity that maintains an account and/or has a business relationship with the Bank.

One on whose behalf the account is maintained (i.e. the beneficial owner). Beneficiaries of transactions conducted by professional intermediaries such as

Stock Brokers, Chartered Accountants, Solicitors etc. as permitted under the law, and

any person or entity connected with a financial transactions.

 

8 Key Elements of the Policy :

Customer Acceptance Policy Customer Identification Procedures Monitoring of Transactions; and Risk Management

 

8.1 Customer Acceptance Policy The Bank will :

classify customers into various risk categories and based on risk perception decide on acceptance criteria for each category of customers;

accept customers after verifying their identity as laid down in Customer Identification Procedures;

Not open accounts in the name of anonymous/fictitious/benami persons; strive not to inconvenience the general public, especially those who are

financially or socially disadvantaged.

 

8.2 Customer Identification Procedures :The first requirement of customer identification procedures is to be satisfied that a prospective customer is who he/she claims to be.

The second requirement of customer identification procedures is to ensure that sufficient information is obtained on the nature of the business that the customers

 

expects to undertake and any expected or predictable pattern of transactions.

The information collected will be used for profiling the customer.

 Identity to be verified for :-

The named account holder Beneficial owners Signatories to an account and Intermediate parties.

  The Customer Identification Procedures are to be carried out at the following stages

While establishing a banking relationship when the Bank feels it is necessary to obtain additional information from the

existing customers based on the conduct or behavior of the account.

Wherever applicable, information on the nature or business activity, location, mode of payments, volume of turnover, social and financial status etc. will be collected for completing the profile of the customer.

Customers will be classified into three risk categories namely High Medium and Low, based on the risk perception. The risk categorization will be reviewed periodically.

Customer Identification will be carried out in respect of non-account holders approaching bank for high value one-off transaction as well as any person or entity connected with a financial transaction which can pose significant reputational or other risks to the Bank.

 

8.3

Monitoring of Transactions : Monitoring of transactions will be conducted taking into consideration the risk profile of the account. Special attention will be paid to all complex, unusually large transactions and all unusual patterns which have no apparent economic or visible lawful purpose. Transactions that involve large amounts of cash inconsistent with the normal and expected activity of the customer will be subjected to detailed scrutiny.

After due diligence at the appropriate level in the Bank, transactions of suspicious nature and/or any other type of transaction notified under PML Act, 2002 will be reported to the appropriate authority and a record of such transactions will be preserved and maintained for a period as prescribed in the Act.

 

8.4 Risk Management :While the Bank has adopted a risk based approach to the implementation of this policy. It is necessary to establish appropriate framework covering proper management oversight, systems, controls and other related matters.

Bank's Internal Audit of compliance with KYC/AML Policy will provide an independent evaluation of the same including legal and regulatory requirements. Concurrent/Internal Auditors shall specifically check and verify the application of KYC/AML procedures at the branches and comment on the lapses observed in this regard. The compliance in this regard will be placed before the Audit Committee of the Board at quarterly intervals.

 All employees training programmes will have a module on KYC Standards - AML Measures so that members of the staff are adequately trained in KYC/AML procedures.

 

The Principal Officer designated by the Bank in this regard will have an important responsibility in managing oversight and coordinating with various functionaries in the implementation of KYC/AML Policy.

9

Customer Education :The Bank recognizes the need to spread awareness on KYC, Anti Money Laundering measures and the rationale behind them amongst the customers and shall take suitable steps for the purpose.

 

10

Introduction of New Technologies : Bank will pay special attention to the money laundering threats arising from new or developing technologies and take necessary steps to prevent its misuse for money laundering activities. Bank will ensure that appropriate KYC Procedures are duly applied to the customers using the new technology driven products.

 

11

KYC for the existing accounts :While the KYC guidelines will apply to all new customers, the same would be applied to the existing customers on the basis of materiality and risk. However, transactions in existing accounts would be continuously monitored for any unusual pattern in the operation of the accounts. On the basis of materiality and risk the existing accounts of companies, firms, trusts, charities, religious organizations and other institutions are subjected to minimum KYC standards which would establish the identity of the natural/legal person and those of the 'beneficial owners' Similarly, the Bank will also ensure that term/recurring deposit accounts are subject to revised KYC procedures at the time of renewal of the deposits on the basis of materiality and risk.

 

12

Branches and subsidiaries outside India :This policy shall also apply to the branches, subsidiaries and majority owned joint ventures located abroad to the extent local laws permit. Based on this policy, each foreign office is required to put in place an Anti Money Laundering Policy (duly approved), which shall also contain, the KYC guidelines and Suspicious Activity Reporting (SAR) Procedures as may be required by the rules and regulations of the host country.

 

13

Correspondent Banking :This Policy will apply to our dealings with correspondent banks. For correspondent banking relationship an appropriate due diligence procedure will be laid down keeping in view KYC Standards existing in the country where the correspondent bank is located and the track record of the correspondent bank in the fight against money laundering and terrorist financing.

 

14 Principal Officer (Money Laundering Reporting Officer) :Bank will designate a senior officer as Principal Officer who shall be responsible for implementation of and compliance with this policy.

His illustrative duties will be as follows -

Monitoring the implementation of the Bank's KYC/AML Policy. Reporting of Transactions and sharing of the information as required under the

law.

 

Maintaining liaison with law enforcement agencies. Ensuring submission of periodical reports to the Top Management/Board.

15

Review of the Policy :The Policy will be reviewed at yearly intervals or as and when considered necessary by the Board.

History......................................................................................................................................................................................

Brief History of the Bank

State Bank of Bikaner and Jaipur was established in 1963 after amalgamation of erstwhile State Bank of Jaipur (established in 1943) with State Bank of Bikaner (established in 1944) as a subsidiary of State Bank of India. The Bank's main area of operation is in the State of Rajasthan, with a presence at all important centres in the country. The Bank has 860 branches spread over the country.

The Bank follows transparent corporate governance policies and has smoothly migrated to Basel II. On the technology front, the Bank migrated all branches to Core Banking Solution (CBS) and became among the first few banks in India to offer online banking facility across the country. The Bank has installed 495 ATMs and is part of the State Bank Group networks of ATMs. Internet Banking has been extended to all branches for retail and corporate customers. The Bank has rolled out Business Process Reengineering (BPR) initiatives to improve operational efficiency and better customer service and is committed to offer value added services to its customers.

The Bank has been earning profit continuously since its inception and its business has crossed the level of Rs 69,000 crore with a net profit of Rs. 403.45 crore at the end of March,2009. 

KEY PERSONS : 

Shri Arun Shandilya, Managing Director

Shri Supratik Chatterjee, Chief General Manager