SBI's Holiday Savings Recurring Deposit Account: Interest Rate, Maturity And All Details
- This e-recurring deposit (RD) account is opened for enrolling in Holiday Savings Account scheme of Thomas Cook and therefore information on this account is shared with Thomas Cook.
- This e-RD account is generated in the name(s) of the account holder(s) as the account from which it is funded.
- If SBI's Holidays Savings account is closed prematurely, the proceeds are credited to the account from which the e-RD account was initially funded.
- e-RD account with additional rate of interest for senior citizens will be issued if option for 'Senior Citizen' is selected by the customer and age of customer is 60 years or above, on the date of creating the recurring deposit, as per date of birth recorded with the bank.
- Premature closure of this e-RD account is allowed and SBI's applicable premature withdrawal penalty is applied, said SBI.
- Penalty in case of delay in payment of instalment of RD is Rs 1.50 for every Rs. 100, per month.
- On maturity of e-RD account, the maturity instruction set for the account is executed and the proceeds is transferred to Thomas Cook unless customer changes the maturity instruction to be credited to the Savings Account from which the e-RD account was funded, mentioned SBI.
- The bank is not liable for any issues/ complains/ loss arising due to non-fulfilment of terms by Thomas Cook India, noted SBI.
- This e-RD account is subject to TDS (Tax Deducted At Source). The TDS is applicable on the Customer Information File (CIF) value and the amount of TDS applicable cannot be ascertained beforehand.Â
- The application of TDS may reduce the amount of funds transferred to Thomas Cook at the time of maturity. It is the responsibility of the depositor to pay the difference to Thomas Cook, SBI further said.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
