Available to residents nationwide, State Bank of India Money Market is offering a generous 0.35% APY. Definitely continue reading below for everything you would need to know about the attractive account and rate!
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State Bank of India Money Market Account Review
State Bank of India has been actively involved in the community since 1973. All the branches and administrative offices throughout the country sponsor and participate in large number of welfare activities and social causes. This business is more than banking because they touch the lives of people anywhere in many ways.
In addition to the rate from this bank, check out our list of best rates Savings, Money Market, and CD accounts.
If you are interested in expanding your financial future, definitely use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank and many more.
I’ll review State Bank of India Money Market Account below.
State Bank of India Money Market Account Rate
To earn this generous rate, just open with a balance of $10,000. After that, you can earn the high rate on any balance. However, maintain the $10,000 or above to avoid fees.
- What you’ll get: 0.35% APY
- Eligible account: Money Market Account
- Credit inquiry: Soft Pull
- Where it’s available: Nationwide
- Opening Deposit: $10,000 Minimum
- Monthly fee: Not specified but can be waived
- Early Termination Fee: None listed, check with CSR
(FDIC Insured)
How to Earn State Bank of India Rate
- Open a Money Market Account
- Fund you account with at least $10,000.
- Earn your rate of 0.35% APY on any balance amount
- Maintain a balance of $10,000 or more to avoid fee
| Balance Requirement | APY |
| $500-$49,999.99 | 0.15% APY |
| $50,000-$99,999.99 | 0.25% APY |
| $100,000-$249,999.99 | 0.30% APY |
| $250,000+ | 0.35% APY |
State Bank of India Account Features
- Earn interest on all balances
- Access via online banking and mobile app
- Insured by the FDIC
- Monthly fee can be avoided
Conclusion
State Bank of India is offering a decent APY Rate for their Money Market account. It’s nice to know you earn the competitive rate on all balances. However, if you want to avoid the fees, keep in mind you need to have a balance greater than $10,000.
Let us know about your experience with this bank and comment below.
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