State Bank of India (IL)

Overview / Commentary
19 South Lasalle Street, 2nd Floor
Chicago, IL 60603

Related Posts

State Bank Of India (IL) Offers 4.64% APY 5-YR CD, BUT Retains Early Withdrawal Decision - 1/26/2023

In today's Mobility Credit Union post by Ken, I noticed in the How the 60-Month CD Compares section that State Bank of India (IL) now has a competitive nationwide offer branded as the 60-Month Senior Citizens CD at 4.64% APY. Although this rate may be attractive to some, I wanted to provide a couple of details. First, as you would expect, the CD has an age qualification requirement. It is limited to those aged 60 years and above. However, the key terms I wanted to highlight are those stating that State Bank of India (IL) retains the right to limit early withdrawals. Specifically, page 5, paragraph 5.1 under Certificate of Deposit of the Customer Manual states "We may (at our discretion) permit withdrawal of the principal before the maturity date." (Bold added) Additionally, paragraph 5.10 under Early Withdrawal Penalty states "The principal amount of deposit cannot usually be withdrawn before the Certificate of Deposit matures, unless the Bank consents to the withdrawal

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Reviews (8)

High CD Rates And Excellent Customer Service

Posted by: |

We can't remember getting service from any other institution as good as we received from SBI Chicago . Starting with the CEO and down. Everyone was extremely responsive and helpful. Rates are the best in the country. All the people we dealt with made it extremely easy to open CD accounts. We can highly recommend doing business with this institution.- Ron

Why No Financial Health Rating

I would like to open CD but there in no financial rating or info on this bank. Does anyone know why?

Horrible Service

Posted by: |

You can take an Indian out of India, but you cannot take India out of an Indian! Totally incompetent, lazy assess work in this pathetic place. They don't know what service means even if it hits them in their nagan. I have had C/A here for almost 20 years and nothing is easy. I have been trying to change my residential address for the past 6 months and they will not do it. I have sent them certified notarized letter with copies of my driver's license and still they don't care. All my statements are still going to my old address. Talking to an official is nearly impossible. They have a thick north indian accent that no one can understand. The staff probably paid bribe in India to some idiot to get a posting in America and do not have scintilla of service mentality. Horrible worthless individuals and their website is equally shitty. YoNo is garbage. You make one login error, then the crap shuts you down for good. You have to then call some stupid number and have to go through the rigamarole of registering at the site again. Then you keep getting this stupid email, "Dear customer there was an attempt at login into your account blah blah blah!" The system has not been beta tested with customers outside of India and it is ridiculously cumbersome and patronizing. All around it is a third world bank with fourth world service. Just pathetic garbage ... they cannot even learn from observing other American and European banks. Disgraceful, piece of shit.


Posted by: |

Terrible website, poorest customer service, slow like worst than a snail. Dis-coordinated database with products and services. Impossible to talk to anyone. How the heck you use 'India' in your bank name. It's a disgrace.

Unusual Banking Practice And Rude

Posted by: |

Most of the time they don't respond politely. I have an active saving account with them, and I transferred money in the past through this bank. Recently when I initiated a transfer, they were requesting me to send my recent pay slip, evidence for source of income, copy of driver license and copy of recent utility bill. I asked them to show a bank in US who is asking all these documents from their existing customer to transfer money. They did not answer my question. I asked to them where do they maintain their customer's information, will that be within United states or a server at outside the country. They did not answer my question. Very rude.

Surprised They Are Allowed To Operate

Posted by: |

Horrendous customer service and absurd level of personal information collected.
How are they allowed to operate as an FDIC member is a mystery worthwhile exploring.

Waste Of Time

Posted by: |

The CD rates posted on their site are correct in one place, but grossly incorrect when you view them during the online account opening process. So I called on the phone and after much confusion was told that I would have to download a paper application and send a check by mail, including a notarized copy of my drivers' license. So if you don't have time for all this nonsense, bank elsewhere.

Current High Rate Not Worth It

Posted by: |

I walked into the State Bank of India Chicago branch this morning to open a CD. The receptionist was polite, but her English was so poor that she had problems taking down my phone number. Then she seemed upset that I had not brought a utility bill with, something that has never been required by any bank or credit union I have dealt with, even though I had a valid State ID and credit cards. I began to fill out the application when I noticed a long warning/disclosure about the dangers of faxing information, that I would not hold them liable, and I believe they rely heavily on this form of communication. They seem to be in the Dark Ages regarding banking/technology. I walked out of the bank as I decided I did not feel secure or have any peace of mind doing business with them.


Sorry, we do not have health information for State Bank of India (IL).


Rates for State Bank of India (IL) are currently being reviewed.


State Bank of India (IL) Locations
State Bank Of India19 S La Salle St Fl 2Chicago, IL 60603

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