STATE BANK OF INDIA
New York
Senior Citizen Certificate of Deposit
Currently, Online account opening for Senior Citizen Certificate of Deposit is not functional. Kindly contact the branch to open the account
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Earn assured returns at high interest rates with our new CD product. The salient features of this product are as follows:

  • Earn a higher interest rate over and above the applicable card rate by investing in this product.
  • Minimum age of the applicant should be 60 years and above on the date of application.
  • The period of deposit ranges from 1 year to 5 years
  • The minimum amount of deposit is USD 100,000. There is no maximum limit.
  • You can maintain deposits in Cumulative CDs (at compounding interest) and Non-cumulative CDs (at simple interest)
  • The product is open to US Citizens, Green card holders and Resident Aliens.
  • In case of joint accounts, each of the account holders to meet the criteria separately.
  • Deposits are insured under FDIC as per the applicable regulations.
  • Facility of receiving interest on cumulative (payable on maturity) as well as non-cumulative (payable on monthly, quarterly, half yearly and yearly intervals) basis.
  • Designate a beneficiary to the account and protect your loved ones.
  • Automatic renewal of the deposit on maturity.
  • Interest rates are subject to change without prior notice.
  • Withdrawal before maturity is permitted, subject to a pre-closure fee as under:
Maturity period of deposit Number of days for which interest will be recovered at the contracted rate
1 year to less than 3 years 90 days
3 years to less than 5 years 180 days
5 years 270 days
  • All rules and regulations applicable to CD account would be followed as detailed in the customer manual.
  • Please Click here to visit our customer manual and know more about Certificate of deposit.
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Follow these 3 simple steps and open an account with us

STEP 1 : APPLICATION FORM

Send us a signed copy of the application form. Click here to download the application form.

STEP 2 : DOCUMENTS REQUIRED TO OPEN THE CD

Send us a signed copy of the application form. Click here to download the application form.

Primary documents Secondary documents
State Driver’s license with photo, Passport, State ID card with photo, US alien registration card. Pay stub, Bank statement, utility bill, income tax return, W 2 Income statement, US visa page, credit card, Birth certificate, Social security card, Insurance card, Property Tax bill, Letter issued by government authority

At least 2 documents should be submitted, one of which must be a Primary ID

  • At least one of the documents to have valid proof of age and current address

STEP 3 : DISPATCH THE DOCUMENTS

After completing the application form, send the documents to our postal address mentioned below:

Manager(Retail)
State Bank of India
460, Park Avenue
New York-10022.
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Please enter your details on the following form and we will contact you soon.

Name of the applicant *


Address of the applicant *


Amount of CD *


Tenure of CD *


Age of applicant *


Contact number *


Email ID *


Captcha *

* Fields are Mandatory

You may also contact us at the details mentioned below :

Ms Neena Cherian (Relationship Manager)
Phone number: 212-521-3390
Email address: mgrmkt.nyb@statebank.com

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