State Bank of India

In terms of asset value, as well as the number of customers, State Bank ranks as one of the largest banks of India. State Bank of India was incorporated in 1955 by the Government of India. Originally, the history of State Bank of India starts from 1806 when Bank of Calcutta was established. Gradually, Bank of Calcutta was transformed into Bank of Bengal. Again, as a result of a merger between Bank of Bengal, Bank of Madras and Bank of Bombay, the Imperial Bank of India was formed in 1921. Finally, the Imperial Bank of India was converted into the State Bank of India.

The bank is not only providing services to the Indian markets, but also operating in 34 different countries around the world. The bank is providing its services with the help of its 9,100 branches. State Bank of India is managed by the Central Board of State Bank headed by Shri.O. P. Bhatt as the Chairman. State Bank of India provides a wide range of products and services to the customers. These customized services are designed for different personal, corporate and other needs. Some of these products are as follows:

Personal banking services of State Bank of India

SBI Term Deposits
SBI Car Loan
SBI Recurring Deposits
SBI Housing Loan
Rent Plus Scheme
SBI Educational Loan
Loan Against Shares & Debentures
SBI Loan For Pensioners
Mortgage Loan
The deposit schemes of State Bank of India are designed to provide safe options to the customers to invest their extra income. At the same time, the bank also offers several deposit plans where one can save for the future of the children and many more.

Some of these products are as follows:

Recurring Deposit Account
Current Account
Savings Bank Account Rich Savings
Account
Term Deposits
Savings Plus Account
Special Term Deposits
SBI Tax Savings Scheme, 2006
Multi Option Deposit Scheme
Basic Banking ‘No frills Account’
The personal finance programs of State Bank of India are designed to meet different financial needs of the customers. These loans are provided with easy terms and conditions.

Some of the personal finance plans are the following:

Property Loan
Car Loan
Educational Loan
Festival Loans
Teachers-Plus Scheme
Loan to Pensioners
Loan For ESOPS
Credit Khazana
Loan Against Securities
Housing Loan
Medi-Plus Scheme
Sainik-Plus Scheme
Tribal-Plus Scheme
Easy Travel Loan
Furthermore, State Bank of India offers the following services to the individual customers:

Gift Cheques
Internet Banking
Broking Services
e-Pay
e-Rail
Safe Deposit Locker
ATM Services
SBI Vishwa Yatra Foreign Travel Card
State Bank of India has a wide range of products to offer to the large, medium and small corporate clients.

The products and services designed for this sector are as follows:

Working Capital Finance
Term Loans
Deferred Payment Guarantees
Strategic Business Units
Corporate Loans
Export credit
Apart from these, there are a number of other financial products and services that are provided by State Bank of India. These include the NRI Services, Merchant Banking, Trade Finance, Public Provident Funds, Agricultural Banking, Micro Credit and many more. Contact Details: State Bank of India Headquarters
P.O. Box 12
Madame Cama Road
Mumbai 400021
India

 

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Last Updated on : 27th June 2013

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