Annuity Deposit Scheme - Personal Banking
ANNUITY DEPOSIT SCHEME
To enable the depositor to pay one-time lump sum amount and to receive the same in Equated Monthly Instalments (EMIs), comprising a part of the principal amount as well as interest on the reducing principal amount, compounded at quarterly rests and discounted to the monthly value.
Features
- To enable the customer to deposit one time lump sum amount and receive re-payment of the same in monthly annuity instalment comprising part of the principal amount plus interest.
- Period of deposit from 36/60/84 or 120 months
- Available at all branches.
- Amount Based on minimum monthly annuity Rs 1000/- for the relevant period.
- In no case Minimum Amount of deposit should be below Rs. 25,000/-
- Maximum deposit amount: No Upper Limit
- Rate of interest as applicable to Term Deposits.
- The interest rate payable to SBI Staff and SBI pensioners will be 1.00% above the applicable rate.
- The rate applicable to all Senior Citizens of age 60 years and above will be 0.50% above the applicable rate.
- Payment of annuity On the anniversary date of the month following the month of deposit.
- If that date is non-existent (29th, 30th & 31st), it will be paid on the 1st day of the next month.
- Annuity payment, net of TDS, will be credited to linked SB/CA account.
- Nomination is Available
- Overdraft/loan up to 75% of the balance amount of annuity may be granted on special cases.
- After disbursal of OD/loan, further annuity payment will be deposited in loan account only.
- Universal Passbook is issued.
- Transferability among our branches Allowed
Eligibility
- Resident individuals, including minors
- Mode of Holding Singly or jointly
Terms and Conditions
- Premature closure is Permitted in case of death of depositor. Premature payment is also allowed for deposits up to Rs. 15.00 lacs.
- Pre- mature penalty is chargeable as applicable to Term Deposit.

Interest Rates
2.70% p.a.
Upto 1 lakh(w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Upto 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
5.30%
3 years to less than 5 year
5.40%
5 years to less than 10 years
Deposits Landing Page

Motor Accident Claims Annuity (Term) Deposit Account (MACAD)

Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
2.70% p.a.
Upto 1 lakh(w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Upto 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
5.30%
3 years to less than 5 year
5.40%
5 years to less than 10 years