SBI Annuity Deposit Scheme
SBI Annuity Deposit Scheme
To enable the depositor to pay one-time lump sum amount and to receive the same in Equated Monthly Instalments (EMIs), comprising a part of the principal amount as well as interest on the reducing principal amount, compounded at quarterly rests and discounted to the monthly value.
Terms and Conditions
- Premature closure is Permitted in case of death of depositor. Premature payment is also allowed for deposits up to Rs. 15.00 lacs.
- Pre- mature penalty is chargeable as applicable to Term Deposit.
Eligibility
- Resident individuals, including minors
- Mode of Holding Singly or jointly.
