SBI Flexi Deposit Scheme 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.

The minimum amount that should be deposited at anytime is Rs. 500.

There is no cap on the number of times you can deposit in a month.

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.

Tenure
5 years up to 7 years

Existing rate for Public
7.25%

Revised for public from 5/10/15
7.00%

Existing rate for Senior Citizens
7.50%

Revised for senior citizens from 5/10/15
7.25%

Flexi Deposit Eligibility

All resident Indians are eligible for this scheme.
Only individual customers can apply.
Minors can also apply.

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