Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Account purposeCredits motor-accident compensation and interest on a Motor Accident Claim Annuity Deposit awarded by a Tribunal or CourtView source
identifies as the savings account that receives the award or interest; is the separate annuity deposit.
- Source
- Claims Account
- Page / section
- Features
- Accessed
- 12 Aug 2026
- Confidence
- high
Eligible account holdersIndividuals, including minors through a guardian, who hold valid KYC documentsView source
The eligibility tab expressly includes minors acting through a guardian and requires valid documents.
- Source
- Claims Account
- Page / section
- Eligibility
- Accessed
- 12 Aug 2026
- Confidence
- high
Holding patternSingle-name account onlyView source
states that eligible individuals open the account in a single name.
- Source
- Claims Account
- Page / section
- Eligibility
- Accessed
- 12 Aug 2026
- Confidence
- high
Interest rate2.50% p.a. across all savings-bank account balances, effective 15 June 2025Effective 15 Jun 2025View source
official table has one row: ‘Across all account Balances — 2.50% p.a.’ and states that it applies from 15 June 2025.
- Source
- Savings Bank Deposits — Interest Rates
- Page / section
- Savings Bank Deposits table — Applicable Interest Rates w.e.f. 15 June 2025
- Accessed
- 29 Aug 2026
- Confidence
- high
Court-controlled facilitiesCheque book, ATM-cum-debit card and internet banking are unavailable by default and may be provided only with court permissionView source
marks all three facilities with a court-permission condition and says they are not available by default.
- Source
- Claims Account
- Page / section
- Features
- Accessed
- 12 Aug 2026
- Confidence
- high
NominationAvailable for an individual account holderView source
The Features tab lists nomination for an individual only.
- Source
- Claims Account
- Page / section
- Features
- Accessed
- 12 Aug 2026
- Confidence
- high
Account materialsPassbook and welcome kit are availableView source
lists both a passbook facility and welcome kit.
- Source
- Claims Account
- Page / section
- Features
- Accessed
- 12 Aug 2026
- Confidence
- high
Minor-account withdrawalsGuardian must provide the prescribed certificate or undertaking that withdrawn funds are for the minor's benefitView source
The terms refer to the certificate or undertaking in Annexure II for withdrawals from a minor's account.
- Source
- Claims Account
- Page / section
- Terms And Conditions
- Accessed
- 12 Aug 2026
- Confidence
- high
Guardian deathAccount operations must be stopped if the guardian diesView source
directs that operations be stopped upon the guardian's death.
- Source
- Claims Account
- Page / section
- Terms And Conditions
- Accessed
- 12 Aug 2026
- Confidence
- high
KYC conditionKYC compliance is mandatory and must be meticulously ensuredView source
The page requires valid documents and separately emphasizes strict compliance with guidelines.
- Source
- Claims Account
- Page / section
- Eligibility and Terms And Conditions
- Accessed
- 12 Aug 2026
- Confidence
- high
Salary requirementNot applicable: SBI describes this record as a savings, MACT or resident-foreign-currency account rather than a salary-package account; no salary-credit threshold applies to the product type.View source
personal catalogue identifies these products by savings/deposit or resident-FC account type, not as salary packages; salary-package variants are listed separately in the catalogue.
- Source
- personal savings and deposit account catalogue
- Page / section
- Savings Accounts, account and Resident Foreign Currency (Domestic) Account
- Accessed
- 29 Aug 2026
- Confidence
- high
Debit cardATM-cum-debit card is available only with the court's permission; by default it is not made available.Effective 1 Dec 2025View source
lists ‘ cum Debit Card available’ and footnotes that these facilities require court permission and are not available by default.
- Source
- Motor Accidents Claim Account ()
- Page / section
- Features and footnote
- Accessed
- 29 Aug 2026
- Confidence
- high
Cheque bookCheque-book facility is available only with the court's permission; by default it is not made available.Effective 1 Dec 2025View source
lists ‘Cheque Book facility available’ and footnotes that the facility requires court permission and is not available by default.
- Source
- Motor Accidents Claim Account ()
- Page / section
- Features and footnote
- Accessed
- 29 Aug 2026
- Confidence
- high
ATM limitsATM access is conditional on court permission; the MACT product page does not publish a numeric withdrawal limit.Effective 1 Dec 2025View source
The page provides availability and court-permission conditions but no daily or monthly limit.
- Source
- Motor Accidents Claim Account ()
- Page / section
- Features and footnote
- Accessed
- 29 Aug 2026
- Confidence
- high
IMPS charges from 15 February 2026Online IMPS is free up to ₹25,000; above ₹25,000 to ₹1,00,000 costs ₹2 + GST, above ₹1,00,000 to ₹2,00,000 costs ₹6 + GST and above ₹2,00,000 to ₹5,00,000 costs ₹10 + GST. Branch-channel charges are free up to ₹1,000, then ₹2 + GST (₹1,000–₹10,000), ₹4 + GST (₹10,000–₹25,000), ₹4 + GST (₹25,000–₹1,00,000), ₹12 + GST (₹1,00,000–₹2,00,000) and ₹20 + GST (₹2,00,000–₹5,00,000).Effective 15 Feb 2026View source
The table publishes separate online and branch slabs; the online charge begins only above ₹25,000 and is stated for the non-free slabs.
- Source
- Revised Transaction Charges On Or After 15.02.2026 (Retail Customer)
- Page / section
- Annexure II — retail slab table
- Accessed
- 1 Sept 2026
- Confidence
- high
Account typeSavings accountView source
The manually reviewed product name/benefits state: “Savings account”.
- Source
- Claims Savings Bank Account — official product page
- Page / section
- Published account type and access benefits
- Accessed
- 12 Aug 2026
- Confidence
- high
Benefits and features
- Dedicated account for court-awarded motor-accident compensation receipts
- Current savings-account interest rate
- Passbook, welcome kit and individual nomination
- Court-controlled access safeguards for cheque, card and internet banking
Eligibility
- The account is opened in one claimant's name; minors act through a guardian.
- Cheque-book, -cum-debit-card and internet-banking access require explicit court permission.
- A guardian withdrawing from a minor's account must provide the prescribed benefit-of-minor undertaking.
- This savings account should not be confused with the separate Motor Accident Claim Annuity Deposit.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Valid documents
- Guardian certificate or undertaking for withdrawal from a minor's account
Related official documents
Revised IMPS Transaction Charges On Or After 15.02.2026 (Retail Customer)official-service-charge-document · current · accessed 1 Sept 2026
↗SBI Motor Accidents Claim Account (MACT) pageofficial-product-page · current · accessed 29 Aug 2026
↗SBI Motor Accidents Claim Accountofficial-product-page · current · accessed 29 Aug 2026
↗SBI personal savings and deposit account catalogueofficial-product-catalogue · current · accessed 29 Aug 2026
↗Savings Bank Deposits interest ratesofficial-rate-table · current · accessed 11 Aug 2026
↗