SBI Tax Savings Scheme, 2006 - Personal Banking
SBI Tax Savings Scheme, 2006
Deposits in this Scheme gives Tax benefits under section 80C of Income- tax Act,1961.
Features
- Tenor: Minimum: 5 years - Maximum: 10 years.
- Quarterly compounded Interest.
- Lock-in period of 5 years.
- No Loans or advances against these deposits is allowed during lock in period.
- Term Deposit shall not be pledged to secure loan or as security to any other asset.
- Pre-mature payment is not allowed before the expiry of five (5) years from the date of its receipt except in case of death of depositor.
- Resident Indians for himself/ herself as an individual or in the capacity of the Karta of HUF having PAN.
- Interest Rate as applicable to Term Deposits.
- Minimum Deposit: Rs. 1,000/- or multiples thereof.
- Maximum Deposit: Not exceeding Rs. 1,50,000/- in a year.
- Type of account will be Term Deposit (TD) account / Special Term Deposit(STD).
- Nomination facility is available.
- In the event of death of first account holder in case of joint account, the other holder of the deposit shall be entitled to encash the deposit before its maturity/ within lock in period by making an application to the Branch, supported by proof of death of the first holder of the deposit.
- The deposit may be transferred from one branch, from which it has been issued, to another branch, on the depositor making an application, at either of the two branches.
- Term Deposit shall not be transferred to another Bank.
- Deposit Advice to be issued by the Branches on A4 size paper sheet and customer should be asked to affix his/her signature on the front of the A4 size paper sheet at a suitable place.
Last Updated On : Wednesday, 17-08-2022
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
Deposits Landing Page
SBI Green Rupee Term Deposit (SGRTD)
SBI ‘Sarvottam’ (Non-Callable) Term Deposit
Motor Accident Claims Annuity (Term) Deposit Account (MACAD)
Criteria
- Features
- Eligibility
- Terms and Conditions
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above