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State Bank of India reveals grand savings account

State Bank of India reveals grand savings account

Category: Savings

Updated: 26/04/2011
First Published: 26/04/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

State Bank of India has had a grand idea with the launch of a new savings account where the rate is fixed for 1,000 days.

Paying 4.10%, it sits amongst the market leaders in the medium term savings market.

A minimum investment of £5K is required, while savers must have or open a State Bank of India savings or current account.

As is becoming more common with savings bonds, no withdrawals or additional investments are allowed during the term.

Offering savers an alternative to a straight two or three year bond, this account has been awarded four out of five Moneyfacts stars.

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