Limited Period Offer

Banking Benefits Upto $1000* for Newcomers to Canada

1. Eligible customers can avail the benefit of zero monthly account administration fees for 2 years when you open a Chequing and a Super Saver Account
   • Eligible customers get the benefit of zero monthly account administration fees on chequing and super saver account for a period of 24 months from the date of account opening.
   • Please note that the monthly account administration fees for a Chequing account is CAD 4 and CAD 12 for a Super Saver account. 
   • This fee would be waived for a period of 24 months from the date of account opening subject account opening within the promotion period. 
   • Eligible customers save up to $ 384¹ through the waiver of monthly administration fees ($ 4 on chequing account of $ 4 x 24 months = $ 96) + (Waiver of monthly administration fees $ 12 on super saver account of $ 12 x 24 months = $288) 
   • Please see the detailed promotion terms and conditions

2. Eligible customers get a bonus rate of 0.25% on a Guaranteed Investment Certificate (GIC) 
   • The bonus rate is applicable on the current applicable GIC Rates. Please see our current interest rates to know more
   • The applicable GIC interest rates are subject to change without any prior notice. 
   • Interest on the GICs is compounded annually and paid out at the end of the term. 
   • The bonus rate is applicable on both CAD & USD GIC 
   • The bonus would be applicable for a period of 24 months from the date of your first account opening subject account opening within the promotion period 
   • You can earn additional $ 75 per year with an assumed GIC value of $ 15,000 ($ 15,000 {Assumed GIC Value} of x 0.25% {Bonus Rate} x 2 years {Validity of     benefits}) = $ 75² 
   • Please see the detailed promotion terms and conditions

3. Eligible customers get a bonus rate of 1.75% per annum and earn up to $385 when they open and invest in our Super Saver and TFSA Savings account

• The bonus rats is applicable on the current interest rate for both Super Saver (available both in CAD and USD) and Tax Free Savings (TFSA) Savings account (available only in CAD). Please see our current interest rates to know more.
• Interest is calculated on the daily account closing balance and paid at the end of the month. Interest is paid in the same currency as the account. Interest rates are calculated on a per annum basis.
• The bonus would be applicable for a period of 24 months from the date of your first account opening subject account opening within the promotion period
• The $ 385 has been calculated with an assumption of $ 6,000 deposit in Super Saver and $ 5,000 deposit in your TFSA savings account.
• Super Saver Savings Account with a balance of $ 6,000 {assumed deposit value} x 1.75% {Bonus Rate} x 2 {Validity of benefit} = $ 210³
• TFSA savings Account with a balance of $ 5,000 {assumed deposit value} x 1.75% {Bonus Rate} x 2 {Validity of benefit} = $ 175⁴
• Please see the detailed promotion terms and conditions

4. Eligible customers get a preferred CAD to INR exchange Rate of INR 0.20

• Preferred rate would be applicable over and above the published rate for ($1001-$10,000) category. Please see our current rates to know more.

• Eligible customer can save up to CAD 3.33 per outward remittance transaction (1CAD has been assumed as INR 60) during the promotional period. Minimum of 10 outward remittance transactions have been assumed during the 24 months promotion period. Each such transaction has been assumed with an average value of $1000.
• ($1000 {assumed average transaction} x INR 60.20 {Assumed CAD to INR + preferred rate of INR 0.20}) – ($1000 {assumed average transaction} x INR 60.00 {Assumed CAD to INR}) / INR 60.00{Assumed CAD to INR} = $3.33 (benefit per outward remittance transaction) x 10 (Minimum of 10 outward remittance transactions have been assumed during the 24 months promotion period) = $ 33.33⁵
• Please see the detailed promotion terms and conditions

5. Eligible customers get zero fees money transfers

• Eligible customer would not be charged any inward and outward remittance service charges for a term of 24 months from the date of first account opening (including the month of account opening).
• Eligible customers can save up to CAD 125⁶ during the promotion period basis an assumption of 5 inward international remittances (current charge @ CAD 5 per inward remittance) and 10 outward international remittances (current charge @ CAD 10 per outward remittance)
• Please see the current service charges to know more.
• Please see the detailed promotion terms and conditions

*Banking Benefits up to $ 1000 = $ 384¹ + $75² + $210³ + $ 175⁴ + $33⁵ +$125⁶

Please note that the details of these banking benefits must be read in conjunction with the promotion’s terms and conditions.

Contact your nearest SBI Canada Bank branch today

Click Here for Promotion Terms & Conditions