Wednesday, 13 November 2019

State Bank of India New York Reviews: Checking, CD and Money Market Accounts

State Bank of India New York Reviews: Checking, CD and Money Market Accounts
05 Nov
3:39

State Bank of India New York’s checking account options

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How State Bank of India New York’s checking accounts compare

Honestly, we have no idea why you’d want to open either of these two checking accounts. None of them offer any perks or other favorable terms beyond a standard checking account. And its “basic checking account” is less helpful than most true basic checking accounts, since you can’t even really write very many checks each month.

We suggest giving these checking accounts a hard pass in favor of a better checking account that actually will reward you with better terms and the ability to earn interest.

State Bank of India New York’s CD rates

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How State Bank of India New York’s CD rates compare

State Bank of India New York actually offers some pretty fantastic rates on CDs. In fact, they’re on par — or even higher — than our current top CD picks. The only things we don’t like about them are that it can be a hassle to open the Senior Citizen CDs since you can’t do it online presently, and that you can’t make a partial early withdrawal from these CDs.

State Bank of India New York’s money market account

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How State Bank of India New York’s money market account compares

The rates that State Bank of India New York is offering on its money market account isn’t anything to write home about (literally). We also don’t like the fact that you need to maintain a separate checking account if you want to use a debit card with this account — a requirement that seems highly unnecessary since most banks will let you have a debit card without imposing any other odd restrictions on it.

Instead, if you want to earn the best rates possible for the money in your money market account, consider one of these top-performing money market accounts instead.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Lindsay VanSomeren

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Source: https://www.magnifymoney.com/blog/reviews/state-bank-of-india-new-york/

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