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19th September 2016, 03:37 PM
Super Moderator
 
Join Date: Aug 2012
Re: SBI e Flexi Deposit

As you asking I am telling State Bank of India (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.

State Bank of India (SBI) Flexi Deposit scheme features
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

Rate of Interest

As applicable to Term Deposits.
Quarterly compounded Interest.

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.

Tax Deducted at Source

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.


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