State Bank of India (IL)


Overview / Commentary
312-621-1200
19 South Lasalle Street, 2nd Floor
Chicago, IL 60603

Related Posts

Another Rate Cut At State Bank Of India - 2/2/2020

https://www.sbichicago.com/resources/interest-rates Effective yesterday, 2/1, the savings and money market accts are now yielding 1.85%, but with the poor reviews that they've received here at DA, I'm not sure why anyone would want to open an account with them whatever the interest rate.

ANOTHER Interest Rate Cut!! Now It's State Bank Of India's Turn - 1/2/2020

This is the 4th rate cut that I've posted in the last 3 weeks and I'm getting kind of tired of this! Effective 1/1/20, SBI's savings and money market accounts are both now yielding 2.00%, down from 2.25%.

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Reviews (5)

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

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.



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Rates
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State Bank of India (IL) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$500-Savings Account - US Based Consumer
0.50%$2.5k-Savings Account - Non US Based Consumer

State Bank of India (IL) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.70%$5k-Money Market Deposit - US Based Consumer
0.70%$10k-Money Market Deposit - Non US Based Consumer
0.70%$10k-Money Market Deposit - Non US Based Businesses & Associations
0.70%$5k-Money Market Deposit - US Based Businesses & Associations

State Bank of India (IL) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.16%$2.5k-Senior Citizens 5 Year CD
1.06%$2.5k-5 Year CD
1.06%$2.5k-Business 5 Year CD
0.90%$2.5k-Senior Citizens 3 Year CD
0.80%$2.5k-3 Year CD
0.80%$2.5k-Business 3 Year CD
0.80%$2.5k-Senior Citizens 2 Year CD
0.70%$2.5k-2 Year CD
0.70%$2.5k-Business 2 Year CD
0.70%$2.5k-Senior Citizens 1 Year CD
0.60%$2.5k-1 Year CD
0.60%$2.5k-Business 1 Year CD
0.25%$2.5k-6 Month CD
0.25%$2.5k-Business 6 Month CD
0.15%$2.5k-3 Month CD
0.15%$2.5k-Business 3 Month CD
Locations


State Bank of India (IL) Locations
State Bank Of India19 South Lasalle Street, 2nd FloorChicago, IL 60603

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