The State Bank of India offers its customers the Flexi Deposit Scheme which works on the principle of a recurring deposit.

Eligibility Criteria

-All resident Indians are eligible for this scheme.

-Only individual customers can apply.

-Minors can also apply.


Interest Rates
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%


SBI also has non-banking subsidiaries which are:

-SBI Capital Markets Ltd

-SBI Funds Management Pvt Ltd

-SBI Factors & Commercial Services Pvt Ltd

-SBI Cards & Payments Services Pvt. Ltd.

-SBI DFHI Ltd

-SBI Life Insurance Company Limited and

-SBI General Insurance