The allotment of bonds to the subscribers took place on the same date i.e. September 21, 2020. The bonds qualify as tier II capital of the bank, and has face value of Rs 10 lakh each, bearing coupon rate of 6.24 percent per annum payable annually for a tenor of 10 years.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.