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State Bank of India launches overdraft facility.

Global Banking News-May 20, 2015--State Bank of India launches overdraft facility

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Global Banking News - 20 May 2015

State Bank of India (NSE: SBI) has announced that it has launched an overdraft facility that may be available online.

The overdraft facility is being offered against fixed deposits. The bank said that customers may obtain 90 percent of the FD amount as an overdraft to meet emergency and other needs. The bank is to charge half a percent more than the linked FD for the overdraft.

The bank said that it is selling the core overdraft product through all branches.

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Publication:Global Banking News (GBN)
Date:May 20, 2015
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