REINVESTMENT PLAN

This product is a variant of Term Deposits but instead of Interest being paid out at a regular frequency during the period of deposit; here it is paid out only at the time of maturity. Regular interest is added to the principal and compound interest calculated and paid thereon.

Invest today through OnlineSBI or by visiting your branch.

Minimum Instalment
  • Rs.1000/-

Maximum Instalment
  • No Limit

Rate of Interest
  • As applicable to Term Deposits with Quarterly compounding.Paid out on maturity only.

Tenure
  • Minimum 6 months and Maximum 10 years.

Premature Withdrawal w.e.f. 01.04.2017
  • Available.

  • For Retail Term Deposit up to Rs 5.00 lacs, the penalty for premature withdrawal will be 0.50% (all tenors).

  • For Retail Term Deposits above Rs 5.00 lacs but below Rs 1 crore, applicable penalty will be 1% (all tenors).

  • The interest shall be 0.50% or 1% below the rate applicable at the time of Deposits for the period Deposit remained with the Bank or 0.50% or 1% below the contracted rate, whichever is lower. However, no interest will be paid on Deposits which remain for a period of less than 7 days.

Tax Deducted at Source
  • Applicable

Loan facility
  • Loan / Overdraft up to 90% available. account.

Nomination facility
  • Available

Auto Renewal
  • Exercised if maturity instructions are not given.

Most Important Terms & Conditions
  • Period of deposit 6 months to 10 years.

    • Loan / overdraft up to 90% of the deposit amount plus accrued interest, at 1.00% above the STDR rate.

    • Quarterly Interest payment and credited to the Principal account for compounding.

    • TDS deducted at prevalent Income tax rate is deducted if Form 15G/15H not submitted.

    • Auto renewal is exercised if maturity instructions are not given