SBI customers alert! Earn fixed income every month through Annuity Deposit scheme, know how
State Bank of India (SBI) is offering Annuity Deposit Scheme wherein the depositor can get a monthly amount after they deposit a one-time lump sum.
DNA Web Team
Feb 17, 2021, 09:25 PM IST
India s largest public sector bank State Bank of India (SBI) is offering Annuity Deposit Scheme wherein the depositor can get a monthly amount after they deposit a one-time lump sum. Here is all you need to know about the annuity scheme of SBI.
1. About SBI s Annuity Deposit Scheme
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This scheme of SBI can be invested in for a period of 36, 60, 84 or 120 months. In this, the rate of interest on the investment will be the same that is applicable to term deposits. For example, if you make a deposit for five years, then you get the interest according to the interest rate applicable for a fixed deposit (FD) of five years.