Flexi Deposit Scheme - Personal Banking
FLEXI DEPOSIT SCHEME
A variant of Recurring Deposit with the facility of depositing variable deposit instead of a fixed instalment.
Features
- Singly or jointly
- To enable our customers to place long term deposits to earn attractive rate of interest along with a flexibility in choosing the deposit amount.
- Personal Segment
- Recurring Deposit (Variable deposit) account.
- Minimum - 5 years / Maximum - 7 years
- Available at all branches (except specialized credit intensive branches) all over India.
- Rs. 5,000/- per Financial Year (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.
- Maximum deposit amount Rs. 50,000/- in a Financial Year.
- Penalty for default in payment of minimum deposit will be Rs.50/- per Financial Year
- Nomination Available
- Universal Passbook will be issued.
- Loans / OD up to 90% of the Principal deposit.
- Transferability among our branches allowed
- Rate of interest As applicable to Term Deposits
- The interest rate payable to SBI Staff and SBI pensioners will be 1.00% above the applicable rate.
- The rate applicable to all Senior Citizens of age 60 years and above will be 0.50% above the applicable rate.
Eligibility
- Resident individuals, including minors
Terms and Conditions
- Premature closure Available.
- For Deposit up to Rs 5.00 lacs, the penalty for premature withdrawal will be 0.50% (all tenors).
- For Deposit above Rs 5.00 lacs, 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 deduction at source applicable as per Income Tax Rules.
- Form 15G/H can be submitted by the Depositor to get exemption from tax deduction as per Income Tax Rules.

Interest Rates
8.85% p.a.
Loan amount up to Rs. 3 lakhs
8.95% p.a.
> Rs. 3 lakhs & up to Rs. 5 lakhs
Deposits Landing Page
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Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
8.85% p.a.
Loan amount up to Rs. 3 lakhs
8.95% p.a.
> Rs. 3 lakhs & up to Rs. 5 lakhs