Features

• The Benefit for you:
  • Adequate time to acquire the new asset of your liking
  • Earn interest at Savings Bank or Fixed Deposit rates as you wait.
• Type of Accounts
  • Savings Bank Account (Deposit Account-A) and
  • Term Deposits (TDR / STDR) (Deposit Account-B)

• Minimum Amount : Rs. 1,000 in case of CapGains Term Deposits

• Maximum Balance/Amount :No upper ceiling
• Period of Deposit : Not exceeding 2 to 3 years from the date of transfer of original asset as given below:–
  • Max 24 months - if capital gains is U/s 54, 54B, 54 F. (As declared in Form A by depositor)
  • Max 36 months - if capital gains is U/s 54, 54 D, 54 F, 54 G & 54GB (As declared in Form A by depositor)
• Capital Gain Account Interest Rate
  • As applicable to normal Savings Bank account and/or Term Deposits for respective maturities of Retail & Bulk deposits. No additional interest rate benefit for Senior Citizens or Staff.
• Coverage :The Capital Gains Deposit Scheme is operative at all branches except Rural branches.
• Capital Gain Account  Closure/Premature Payment rules:
  • Closure of TDR/STDR (Account – B) allowed before maturity. (Proceeds to be credited to CapGains SB account-Account- A only).
  • At the time of closure of all accounts, the depositor will have to produce specific authority letter/ certificate from the Income Tax Officer of the respective jurisdiction. The closure would be allowed on the terms mentioned in the letter of authority.
• Loan facility : No loan facility against this deposit is available. This term deposit can neither be accepted as margin money for non-fund based nor as collateral to any type of fund-based facilities.
• Nomination : Nomination facility is available for the deposits (Up to 3 Nominees can be nominated)
• Transfer of Account : Account can be transferred from one branch to another branch
• Issue of Duplicate Pass Book or Receipt : In the event of loss or destruction of pass book or receipt, the branch may issue, on application made to it, a duplicate thereof

Note:

•  Auto renewal is NOT available for Term Deposits or Special Term Deposits opened under SBI CapGains Plus unlike the Regular Term Deposit or Special Term Deposit product.
•  Upon maturity of a Term Deposit or Special Term Deposit opened under SBI CapGains Plus, the proceeds will be credited into the Savings Bank Account opened under SBI CapGains Plus.