Terms & Conditions:

(A)	All the new customers will be required to complete account opening formalities, which will include providing satisfactory Identification, and address verification documents.
(B)	The 60 days notice account is available to people aged 18 or over who are ‘ordinarily resident’ in the UK for tax purposes and have a permanent UK address.  The account is not available for trusts, businesses or charities.  If you stop being eligible for the account, we may close it.
(C)	The minimum deposit required for opening of the account is £100.00.  When you send us a cheque for paying into your account, you must make it payable  to yourself (using your name as stated on your 60 days notice account).  You must add the account number for your 60 days notice account immediately after your name.
(D)	Withdrawals:  60 days notice will be required  to be given for any withdrawals.
	Interest for 60  days will be deducted on the date of withdrawal on the amount withdrawn ............................................................................... without notice.
(E)	This Deposit Scheme will be available for a limited period and may be withdrawn at any  time at the discretion of the Bank.
(F)	Period of interest application:  Interest will be paid monthly on the last working day of the month.
(G)	Interest rate is variable.
(H)	Interest will be paid net of UK tax to all account holders.  However we will be able to pay gross interest to eligible account holders subject to completion of HM Revenue and Customs form R85 available from your local branch or the HM Revenue & Customs website at www.hmrc.gov.uk
	In case of  joint account holders both account holders must be eligible for receiving   interest gross in which case both account holdes will require to fill in a form R85.
	If you receive gross interest on your account and if your circumstances change so that  you need to pay tax on the interest on your account, you must tell us immediately by sending us a letter.
(I)	All references made to tax and tax relief in this brochure are based on our understanding of current legislation and Inland Revenue practice as of 14-11- 2006.  The law relating to taxation is liable to change in the future and such changes cannot be foreseen.  The level of tax applicable will depend on the individual investor’s personal circumstances.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was    paid and compounded once a year.

State Bank of India is regulated by the FSA and is a member of the Financial Services Compensation Scheme established under the Financial Services and Market Act 2000.

 The Financial Services Compensation Scheme protects deposits held with our UK branches. Payments under this scheme are limited to £50,000 of your total deposits with us. In practice, this means that each of our customers will be compensated up to a maximum of £50,000 of their total deposits. Where two depositors hold a joint account, each depositor may receive a maximum of £50,000 compensation in respect of their claim, giving a total of £100,000.

State Bank of India is authorised for accepting deposits by the Financial Services Authority (FSA) and is entered in the FSA Register. The register number is 139156.

State Bank of India is a bank incorporated and headquartered in India and is regulated by Reserve Bank of India. The total assets of the State Bank Group as on 31st March 2008 were US$ 256 billion.