sbi.co.in Flexi Deposit Scheme : State Bank of India

Organization : State Bank of India
Service Name : Flexi Deposit Scheme

Details : https://www.sbi.co.in/
Website : https://www.sbi.co.in/

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.

Related : SBI Annuity Deposit Scheme : www.statusin.in/19961.html

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

Deposit Schemes :
** Whatever your needs – an investment of your surplus funds or to create a fund for your childrens’ education and marriage. You will find a product from SBI that suits your requirement, delivered at a branch close to you.

** Open an account with any of our branches, all of them are fully computerised, and realise the advantage of our vast network.

Place funds in Multi Option Deposit Scheme, a term deposit which is not fixed at all and comes with a unique break-up facility which provides you full liquidity as well as benefits of higher rates of returns, through your savings bank account/Current account.

** Want to build up savings slowly? Discover our Recurring Deposit Account. You can save a little every month to build up the desired corpus to meet your future requirement of funds.

** Our products are designed with flexibility to suit your personal requirements. Enjoy 24 hour banking facility through our Internet Banking/ widest network of ATMs.

1. Current Account
2. Savings Plus Account
3. Savings Bank Account
4. Basic Banking ‘No frills Account’
5. Term Deposits
6. Recurring Deposit Account
7. Special Term Deposits
8. Rate of Interest on Domestic Term Deposits
9. Multi Option Deposit Scheme
10. SBI Tax Savings Scheme, 2006

About Us :
State Bank of India welcomes you to explore the world of premier bank in India. In this section, you can access detailed information on Overview of the Bank, Technology Upgradation in the Bank, Board of Directors, Financial Results and Shareholder Info.

The Bank is actively involved since 1973 in non-profit activity called Community Services Banking. All our branches and administrative offices throughout the country sponsor and participate in large number of welfare activities and social causes.

Our business is more than banking because we touch the lives of people anywhere in many ways. Our commitment to nation-building is complete & comprehensive.