I want to get the details of Unfixed/ Flexi Deposit Scheme of State Bank Of India so can you provide me?

The Flexi Deposit Scheme of State Bank Of India 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.

Flexi Deposit Scheme

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

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.

Penalty charges for non-Deposit of monthly instalments
Rs.50/- per Financial Year.

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

Contact-

" Please Call SBI's 24X7 helpline number i.e. 1800 11 2211 (toll-free), 1800 425 3800 (toll-free) or 080-26599990. Toll free numbers are accessible from all landlines and mobile phones in the country."