SBI Annuity Deposit Scheme

SBI or State Bank of India offers annuity deposit account, which is a variant of fixed deposit or term deposit.

The account enables the depositor to pay a one-time lump sum amount and receive the same in equated monthly instalments (EMIs), comprising a part of the principal amount as well as interest on the reducing principal amount, according to the bank’s website –

The amount is compounded at quarterly rests and discounted to the monthly value, said the country’s largest lender.

Here are key things to know about SBI’s annuity deposit account:

1. Under SBI’s scheme, the minimum amount of deposit is Rs. 25,000. However, there is no maximum limit of deposit amount for this scheme. A nomination facility is applicable in SBI’s annuity deposit account.

2. A term of 36 months, 60 months, 84 months or 120 months (3 years, 5 years, 7 years or 10 years) is available for SBI’s annuity deposit account scheme.

3. The rate of interest charged is same as applicable to the fixed deposit account of the term opted by the depositor. The following FD interest rates are for deposits below Rs. 1 crore:


Revised For Public w.e.f. 28.11.2018

3 years to less than 5 years 6.8

5 years and up to 10 years 6.85


Revised for Senior Citizens w.e.f. 28.11.2018

3 years to less than 5 years 7.3

5 years and up to 10 years 7.35


4. Under this kind of fixed deposit account, premature payment is permitted only in case of death of depositor.

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