SBI FLEXI DEPOSIT SCHEME

This product is similar to a Recurring Deposit but instead of a single fixed instalment every month, you can decide to vary your instalment amount and even the number of monthly, within the Annual sum defined.

Start one today through OnlineSBI or by visiting your branch.

Minimum Instalment
  • Rs. 500/-

Maximum Instalment
  • 10

Minimum deposit amount
  • Rs. 5,000/- in a Financial Year.

Maximum deposit amount
  • Rs. 50,000/- in a Financial Year.

Deposit Frequency
  • Any number in a month and any time

Rate of Interest
  • As applicable to Term Deposits.

  • Quarterly compounded Interest.

Tenure
  • Minimum tenor is 5 years and maximum is 7 years.

Premature withdrawal
  • Allowed. The rate applicable in case of premature withdrawal shall be 0.50% below the rate applicable for the period the deposit has remained with the Bank.

Tax Deducted at Source
  • Applicable

Penalty charges for non-Deposit of monthly instalments
  • Rs.50/- per Financial Year.

Loan facility
  • Available ( as available to Term Deposits)

Nomination facility
  • Available

Passbook
  • Available

Minimum instalment in a year
  • Rs 500/- to continue the account.

Most Important Terms & Conditions
  • Minimum deposit amount - Rs. 5,000/- per Financial Year (plus in multiples of Rs. 500/-) minimum of Rs. 500/- at any one instance.

  • Deposits can be made anytime during a month and any number of times. Penalty for default in payment of minimum deposit will be Rs.50/- per Financial Year.

  • Tenure: Minimum - 5 years, maximum - 7 years.

  • Maximum deposit amount - Rs.50,000/- in a Financial Year.

  • Tax Deduction at Source

  • Loan Facility as applicable to Term Deposits.

  • Nomination facility available