SBI will now give a holiday savings account in partnership with Travel Agency Thomas Cook.
Those who want to travel abroad but can not fulfill their wish due to the shortage of money, then there is a good news for them. State Bank of India is up with its Holiday Savings Account.
SBI has been tied up with Thomas Cook, the company for cheap travel abroad. For this, there is a holiday Savings account facility in the bank. It will help in depositing money for the Savings Account Trip and at the same time, you will earn interest from this account. After opening this special account, there is a discount on the travel package.
In the SBI Holiday Savings Account, money is deposited in the form of RD ie recurring deposits. It can be deposited in the form of a monthly installment. The rate of interest received on this basis is S.B.I. There is an interest rate of 12 months deposit. If the senior citizen who opens this account selects the category and if he is 60 years of age or above, then he also gets the benefit of additional interest rate.
This account will be opened in the name of the one on which the fund will be credited. Not only that, but account holder information is also shared with Thomas Cook. In this account, interest is deposited on the amount deposited by the bank. However, on premature withdrawal and delay in installment will lead to penalizing. If you want to close the account before maturity then you will also have to pay pre-mature closure charges.