Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Deposit typeNRO tax-saving term deposit or special term depositView source
The Features tab presents the scheme as an tax-saving deposit and specifies or as five-year deposit forms.
- Source
- Tax Saving Scheme
- Page / section
- Features
- Accessed
- 11 Aug 2026
- Confidence
- high
Published tax-saving purposeDesigned to claim the applicable benefit under section 80C of the Income Tax Act, 1961View source
states that the product is for the tax benefit under section 80C; customers should confirm current eligibility against prevailing tax rules.
- Source
- Tax Saving Scheme
- Page / section
- Features
- Accessed
- 11 Aug 2026
- Confidence
- high
Tenure5 years onlyView source
The Features tab limits and deposits under the scheme to five years.
- Source
- Tax Saving Scheme
- Page / section
- Features — Tenor of Deposits
- Accessed
- 11 Aug 2026
- Confidence
- high
Minimum deposit₹10,000, with further amounts in multiples of ₹1,000View source
The reviewed tab states a ₹10,000 minimum and additional placements in ₹1,000 multiples.
- Source
- Tax Saving Scheme
- Page / section
- Term Deposits ()
- Accessed
- 11 Aug 2026
- Confidence
- high
Maximum deposit₹1,50,000 per financial yearView source
The tab publishes ₹1,50,000 as the maximum deposit per financial year.
- Source
- Tax Saving Scheme
- Page / section
- Term Deposits ()
- Accessed
- 11 Aug 2026
- Confidence
- high
Five-year NRO deposit rate6.05% p.a. for deposits below ₹3 croreEffective 15 May 2026View source
The tax-saving product links to the fixed-deposit table; its ₹1.5 lakh product maximum falls within the below-₹3-crore tier, whose five-year row is 6.05% p.a.
- Source
- Fixed Deposit Interest Rate
- Page / section
- 5 years and up to 10 years row — below ₹3 crore
- Accessed
- 11 Aug 2026
- Confidence
- high
EligibilityNRI, PIO or OCI customer with an Income Tax Permanent Account Number (PAN)View source
The Eligibility tab requires , or status and an Income Tax .
- Source
- Tax Saving Scheme
- Page / section
- Eligibility
- Accessed
- 11 Aug 2026
- Confidence
- high
Premature withdrawalNot permittedView source
The Features tab explicitly states that premature withdrawal is not permitted.
- Source
- Tax Saving Scheme
- Page / section
- Features
- Accessed
- 11 Aug 2026
- Confidence
- high
Loan or pledge facilityNo loan is available and the deposit cannot be pledged as securityView source
says no loan is available and the tax-saving term deposit cannot secure another funded or non-funded facility.
- Source
- Tax Saving Scheme
- Page / section
- Features — Loans Against TSS- Deposits
- Accessed
- 11 Aug 2026
- Confidence
- high
TDR interest payoutPaid quarterly to the requested NRO savings or current accountView source
The tab says interest is paid quarterly and credited to the requested savings or current account.
- Source
- Tax Saving Scheme
- Page / section
- Term Deposits ()
- Accessed
- 11 Aug 2026
- Confidence
- high
RepatriationPrincipal and interest are repatriable within the overall USD 1 million-equivalent financial-year ceilingView source
The tab states that principal and interest are repatriable subject to an overall USD 1 million-equivalent ceiling per financial year.
- Source
- Tax Saving Scheme
- Page / section
- Term Deposits ()
- Accessed
- 11 Aug 2026
- Confidence
- high
Published interest-tax treatmentSBI states TDS of 30.90% up to ₹1 crore of interest income and 34.608% above ₹1 crore, or the applicable DTAA rate with required documentsView source
The Tax Implications tab publishes the two rates, annual-accrual-or-maturity timing, and -document route; current tax treatment should be confirmed before acting.
- Source
- Tax Saving Scheme
- Page / section
- Tax Implications
- Accessed
- 11 Aug 2026
- Confidence
- high
Published funding routesTransfer from NRO or NRE savings, fresh overseas remittance, foreign-account cheque, or eligible foreign cash or travellers-cheque proceeds converted to NRO fundsView source
The Permissible Credits tab lists or savings transfers, remittances, foreign-account cheques and qualifying declared foreign-currency instruments.
- Source
- Tax Saving Scheme
- Page / section
- Permissible Credits
- Accessed
- 11 Aug 2026
- Confidence
- high
Maturity treatmentCredit to the NRO account or renewal into a regular five-year NRO fixed depositView source
The tab says maturity proceeds are credited to the account or renewed as a regular five-year fixed deposit.
- Source
- Tax Saving Scheme
- Page / section
- Term Deposits ()
- Accessed
- 11 Aug 2026
- Confidence
- high
Senior-citizen rateNot applicable: the reviewed scheme terms publish a scheme- or programme-specific rate and do not provide a separate senior-citizen rate for this product.View source
The full product terms and applicable rate routes were reviewed; no separate senior-citizen rate is published for these schemes/programmes.
- Source
- government and programme deposit scheme terms
- Page / section
- Scheme interest-rate and eligibility terms
- Accessed
- 29 Aug 2026
- Confidence
- high
Benefits and features
- Structured as a five-year deposit for the published section 80C purpose
- Quarterly interest payout option
- Nomination and limited repatriation treatment are stated
Eligibility
- Applicants must be , or customers with .
- A minor cannot open the account alone but may be a second holder with an adult primary holder.
- The official tax claims and rates should be checked against prevailing tax law before relying on them.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Income Tax Permanent Account Number ()
- For a claim: Tax Residency Certificate, self-declaration and Form 10F
Related official documents
SBI NRO Fixed Deposit Interest Rateofficial-rate-table · current · accessed 11 Aug 2026
↗