REINVESTMENT PLAN

This product is a variant of Term Deposits but instead of Interest being paid out at a regular frequency during the period of deposit; here it is paid out only at the time of maturity. Regular interest is added to the principal and compound interest calculated and paid thereon.

Invest today through OnlineSBI or by visiting your branch.

Minimum Instalment
  • Rs.1000/-

Maximum Instalment
  • No Limit

Rate of Interest
  • As applicable to Term Deposits with Quarterly compounding.Paid out on maturity only.

Tenure
  • Minimum 6 months and Maximum 10 years.

Premature withdrawal
  • Available.

  • Penalty for Retail Term Deposits up to Rs. 5.00 lacs will be ‘NIL' provided the deposits have remained with the bank for at least 7 days.

  • Penalty for Retail Term Deposits above Rs. 5.00 lacs but less than Rs. 1 Crore, the prepayment penalty will be 1% for all tenors on the eligible rate for the period already run.

Tax Deducted at Source
  • Applicable

Loan facility
  • Loan / Overdraft up to 90% available. account.

Nomination facility
  • Available

Auto Renewal
  • Exercised if maturity instructions are not given.

Most Important Terms & Conditions
  • Period of deposit 6 months to 10 years.

    • Loan / overdraft up to 90% of the deposit amount plus accrued interest, at 1.00% above the STDR rate.

    • Quarterly Interest payment and credited to the Principal account for compounding.

    • TDS deducted at prevalent Income tax rate is deducted if Form 15G/15H not submitted.

    • Auto renewal is exercised if maturity instructions are not given