India's largest bank, State Bank of India, is making its presence felt in Singapore. Armed with Qualifying Full Bank Licence (QFB), State Bank of India depositors can withdraw cash from the local ATM5 network just like Maybank, Standard Chartered, Citibank, RBS and HSBC.
To capture the local depositors' industry, State Bank of India Savings Special Account is now offering 0.55% for deposits above S$1,000. So far, their interest rate of 0.55% seems to be the most attractive for S$1,000 deposit.
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