SBI Annuity Deposit Scheme: State Bank of India (SBI) introduces various savings plans for the middle class where money can be deposited for a fixed period and returned with interest. These schemes are designed to be completely risk-free and secure for the general public.
SBI offers various deposit schemes such as Fixed Deposit (FD), Recurring Deposit (RD), Annuity Deposit Scheme, Multi Option Deposit Scheme (MOD), Tax Saving Fixed Deposit, etc. Each of these schemes becomes beneficial for people based on their specific needs.
Among these, one of the most popular schemes is the SBI Annuity Deposit Scheme, which we will discuss in detail in today’s article.
What is the SBI Annuity Deposit Scheme?
The SBI Annuity Deposit Scheme is a safe and reliable investment plan where you deposit a lump sum amount once and receive a fixed amount every month. This monthly payment is a combination of a part of the principal and the interest, which is calculated on a quarterly compounding basis and paid monthly.
This means that if you deposit a fixed amount of money in the bank under this scheme, the bank will give you a fixed amount every month, which includes both principal and interest.
Under this scheme, the bank returns the deposited amount in monthly installments for a fixed period (such as 3, 5, 7, or 10 years). You can use this monthly money as a pension or a regular income.
Key Features of the SBI Annuity Deposit Scheme:
Deposit Tenure: Generally 36, 60, 84, or 120 months — that is 3, 5, 7, or 10 years.
Minimum Investment: The minimum monthly annuity amount is ₹1,000; however, the total deposit must not be less than ₹25,000.
Maximum Limit: There is no upper limit; you can invest any amount.
Interest Rate: Interest is the same as the term deposit interest rate for the selected tenure. Senior citizens get an additional 0.50%, and SBI staff and pensioners get an additional 1% interest.
Annuity Payment: Monthly annuity is paid on a fixed date in the month following the deposit.
Nomination Facility: Policyholders can nominate one individual under this scheme.
Overdraft/Loan Facility: In special cases, overdraft or loan up to 75% of the annuity balance can be availed.
Universal Passbook: A universal passbook is issued for this scheme.
এসবিআই অ্যানুইটি ডিপোজিট স্কিমের যোগ্যতা:
SBI Annuity Deposit Scheme Eligibility:
| যোগ্যতার মানদণ্ড | বিবরণ |
| নাগরিকত্ব | শুধুমাত্র ভারতের নিবাসী ব্যক্তি (Resident Individuals) |
| বয়স | যেকোনো বয়সের ব্যক্তি (নাবালকসহ) |
| হোল্ডিং মোড | একক (Single) অথবা যৌথভাবে (Jointly) অ্যাকাউন্ট খোলা যাবে |
| ন্যূনতম জমা | ₹২৫,০০০/- |
| সর্বোচ্চ সীমা | কোনো ঊর্ধ্বসীমা নেই |
| ব্যবসায়িক সংস্থা/ট্রাস্ট | এই স্কিমে অনুপযুক্ত (শুধুমাত্র ব্যক্তি পর্যায়ে প্রযোজ্য) |
Interest Rate of SBI Annuity Deposit Scheme for the year 2025
For general customers:
- 1 year to 2 years: 6.80%
- 2 years to 3 years: 7.00%
- 3 years to 5 years: 6.75%
- 5 years and above: 6.50%
For senior citizens:
- 1 year to 2 years: 7.30%
- 2 years to 3 years: 7.50%
- 3 years to 5 years: 7.25%
- 5 years and above: 7.50%
Note: Interest rates may change from time to time.
SBI Annuity Deposit Scheme Application Procedure
You can apply in two ways —
Offline (through branch) and Online (through Internet or Mobile Banking).
Online Application Procedure
- First, log in to SBI Net Banking or the YONO app.
- Go to the “E-Deposits” or “Fixed Deposit” section.
- From the deposit options, select “Annuity Deposit”.
- Fill in the details shown on the screen, such as:
- Amount you want to deposit
- Tenure (3, 5, 7, or 10 years)
- Payment account details
- Nominee details (if any)
- Verify all information and click on Confirm.
You will receive a successful application number and a receipt.
Offline Application Procedure
- Visit your nearest SBI branch where you want to open the account.
- Collect the SBI Annuity Deposit Scheme application form from the branch.
- Fill out the form correctly and submit it along with the required documents.
You can deposit the lump sum amount via cheque or NEFT. - After verifying the application, the bank opens the account and issues a passbook.
Documents Required for SBI Annuity Deposit Scheme
- Identity proof: Aadhaar Card / PAN Card / Voter ID / Passport / Driving Licence
- Address proof: Aadhaar Card / Electricity bill / Gas bill / Telephone bill / Passport / Bank statement
- Passport-size color photograph (1 or 2 copies)
- Existing SBI savings account number (if any)
- Nominee details: Name, relation, date of birth, ID proof copy
Why is the SBI Annuity Deposit Scheme Important?
- Guaranteed monthly income from a one-time deposit
- Monthly installments include both principal and interest
- Additional interest benefits for senior citizens
- Choice of 3, 5, 7, or 10-year tenure
- Nomination facility available
- Loan/overdraft facility against the account
- Safe and risk-free investment option
- Account can be opened both online and offline
- Transferable to any SBI branch across India
- Effective as an alternative to monthly pension or regular income
Contact Details for SBI Annuity Deposit Scheme
Toll-free Customer Care Numbers:
1800 1234 / 1800 2100 / 1800 11 2211 / 1800 425 3800 (24×7)
Email:
contactcentre@sbi.co.in
Official Website:
sbi.co.in
Mobile App:
YONO SBI (Android / iOS)
Nearest Branch:
Visit any nearby SBI branch for detailed information.
Social Media:
Facebook: @StateBankOfIndia
Twitter: @TheOfficialSBI
Instagram: @theofficialsbi
Conclusion
The SBI Annuity Deposit Scheme is a safe, simple, and stable income source, especially suitable for those who want a monthly income in exchange for a lump sum deposit. Retired individuals, homemakers, or anyone seeking assured monthly income can benefit from this scheme.তে পারেন। সরকারি ব্যাঙ্কের গ্যারান্টি, নমিনি সুবিধা, এবং অনলাইন ও অফলাইন উভয় পথেই আবেদন করার সুবিধা এই স্কিমকে আরও গ্রহণযোগ্য করে তোলে। সামান্য কিছু কাগজপত্র, নির্দিষ্ট মেয়াদ, ও সঠিক পরিকল্পনার মাধ্যমে আপনি গড়ে তুলতে পারেন এক নিশ্চিত আর্থিক ভবিষ্যৎ। সুতরাং, যদি আপনি ঝুঁকিমুক্ত ও স্থায়ী মাসিক আয়ের একটি পথ খুঁজে থাকেন, তবে এসবিআই অ্যানুইটি ডিপোজিট স্কিম হতে পারে আপনার জন্য এক আদর্শ পলিসি।
