Fixed Deposit Details
Bank Name
State Bank Of India
Eligibility
Resident individuals, including minors Mode of Holding Singly or jointly
Interest Rate
Up to 7.50% per annum.
Tenure
36/60/84 or 120 months.
Fixed Deposit Type
Regular
Annuity Deposit Scheme
Tax Benefits
Credit Ratings
CRISIL: AAA/Stable [ICRA]AAA (Stable)
Interest Payment Frequency
Monthly. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Cumulative
Features
- It enables the customer to deposit a one-time lump sum amount and receive a re-payment of the same in monthly annuity instalments comprising part of the principal amount plus interest.
- The deposit amount is based on a minimum monthly annuity of Rs 1000/- for the relevant period.
- There is no limit on the maximum deposit amount.
Minimum Investment Amount
The deposit amount is based on a minimum monthly annuity of Rs 1000/- for the relevant period.
Features & Benefits
Pros
- Guaranteed returns
- Monthly annuity payout.
Cons
- No tax saving options.
- Limited tenure options.
Pros & Cons
How to Open?
Application Process :
- Visit your nearest Bank of Baroda branch or use their online banking services.
- Provide the necessary details, including the deposit amount and preferred tenor.
- Complete the required documentation
Product Review
About this content
Public source: Original MyRupaya page
Captured 2026-11-06T10:58:45Z. Public page text has been preserved and restyled. Historical financial/product information may be outdated. Embedded widgets and forms are not copied or connected to live services.
