Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Eligible customersResident individuals, including minors, with single or joint holding
Source 1Monthly annuity structureMonthly instalments comprise part of principal plus interest on the reducing principal, compounded at quarterly rests and discounted to monthly value
Source 2Available periods36, 60, 84 or 120 months
Source 3Deposit amountPrincipal is calculated to provide at least ₹1,000 monthly annuity for the chosen period; no published maximum
Source 4Current public rates6.30% for 36 months; 6.05% for 60, 84 or 120 monthsEffective 15 Dec 2025
Source 5Current senior-citizen rates6.80% for 36 months; 7.05% for 60, 84 or 120 monthsEffective 15 Dec 2025
Source 6Monthly payment datePaid on the anniversary date in the month after deposit; if that date does not exist for the 29th, 30th or 31st, payment is on the first day of the next month
Source 7Premature paymentAllowed for deposits up to ₹15 lakh with the applicable term-deposit penalty; on the depositor's death, allowed without an amount limit
Source 8Loan or overdraftUp to 75% of the annuity balance may be granted in special cases; later annuity payments are credited only to the loan account
Source 9Other facilitiesIndividual-only nomination, universal passbook instead of a term-deposit receipt, and transfer among SBI branches
Source 10Benefits and features
- Monthly return of principal plus interest
- Four fixed payout periods from three to ten years
- Resident-minor and joint-holding eligibility
- No published maximum principal
- Special-case loan or overdraft facility
Eligibility
- Only resident individuals, including minors, are listed as eligible; accounts may be held singly or jointly.
- The minimum principal varies with the selected period and rate because it is derived from a ₹1,000 minimum monthly annuity.
- Ordinary premature payment is limited to deposits up to ₹15 lakh; the death exception has no amount limit.
- The embedded promotional rate widget is stale; the separately reviewed official retail rate table controls the rates shown here.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- KYC, minor-account and deposit-opening documents applicable under SBI's current rules; the annuity-deposit page does not publish a dedicated checklist
