Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Published tax purposeDeposits are published as eligible for tax benefits under Section 80C of the Income-tax Act, 1961View source
Actual deduction availability depends on the depositor's circumstances and current tax law; this directory does not provide tax advice.
- Source
- Tax Savings Scheme 2006
- Page / section
- Scheme introduction
- Accessed
- 12 Aug 2026
- Confidence
- high
Eligible depositorsA resident Indian personally as an individual, or as Karta of an HUF, with PANView source
This resident eligibility is distinct from separately reviewed tax-saving deposit.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — eligibility
- Accessed
- 12 Aug 2026
- Confidence
- high
Deposit formTerm Deposit or Special Term DepositView source
uses the abbreviations and STD on this product page.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — type of account
- Accessed
- 12 Aug 2026
- Confidence
- high
Deposit period5 to 10 yearsView source
Five years is both the minimum tenor and the stated lock-in period.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — Tenor
- Accessed
- 12 Aug 2026
- Confidence
- high
Lock-in period5 yearsView source
Ordinary premature payment is not allowed before the five-year period expires.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — Lock-in period
- Accessed
- 12 Aug 2026
- Confidence
- high
Deposit amountMinimum ₹1,000 and multiples thereof; maximum ₹1,50,000 in a yearView source
The ₹1.5 lakh figure is the scheme's annual deposit ceiling, not a promised tax deduction for every depositor.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — Minimum Deposit and Maximum Deposit
- Accessed
- 12 Aug 2026
- Confidence
- high
Current public rate6.05% p.a. for 5 to 10 yearsEffective 15 Dec 2025View source
The product page says the applicable term-deposit rate applies. Its annual ceiling places it within the below-₹3-crore table; the generic home-loan widget embedded on the product page is irrelevant and excluded.
- Source
- Retail Domestic Term Deposit Rates
- Page / section
- Below ₹3 crore — Public, 5 years to 10 years
- Accessed
- 12 Aug 2026
- Confidence
- high
Current senior-citizen rate7.05% p.a. for 5 to 10 yearsEffective 15 Dec 2025View source
The published 7.05% rate includes the We-care premium and remains subject to the current rate page's senior-citizen eligibility rules.
- Source
- Retail Domestic Term Deposit Rates
- Page / section
- Below ₹3 crore — Senior Citizen, 5 years to 10 years
- Accessed
- 12 Aug 2026
- Confidence
- high
Interest treatmentQuarterly compoundedView source
The product page does not publish an alternative interest-payout frequency.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — interest
- Accessed
- 12 Aug 2026
- Confidence
- high
Loan and pledge restrictionNo loan or advance against the deposit during lock-in, and the deposit cannot be pledged to secure a loan or another assetView source
The no-pledge statement is broader than the explicit no-loan-during-lock-in sentence.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — loan and pledge restrictions
- Accessed
- 12 Aug 2026
- Confidence
- high
Premature paymentNot allowed before five years except on the depositor's deathView source
The page does not publish other hardship exceptions or a numeric death-closure penalty.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — Pre-mature payment
- Accessed
- 12 Aug 2026
- Confidence
- high
Joint-account death closureAfter the first holder's death, the other holder may apply at the branch for early encashment with proof of deathView source
This provision applies to death of the first account holder during the lock-in or before maturity.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — joint-account death provision
- Accessed
- 12 Aug 2026
- Confidence
- high
NominationAvailableView source
The reviewed page does not publish a dedicated nomination form or full nominee rules.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — Nomination facility
- Accessed
- 12 Aug 2026
- Confidence
- high
Deposit transferTransferable between SBI branches on application at either branch; not transferable to another bankView source
The depositor may apply at the issuing branch or the intended branch.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — transfer
- Accessed
- 12 Aug 2026
- Confidence
- high
Deposit evidenceThe branch issues an A4 deposit advice and asks the customer to sign its frontView source
The product page describes a branch-issued paper advice and does not advertise an online opening channel.
- Source
- Tax Savings Scheme 2006
- Page / section
- Features — Deposit Advice
- Accessed
- 12 Aug 2026
- Confidence
- high
Senior-citizen rateFor retail deposits below ₹3 crore, the senior-citizen rate is 3.55% for 7–45 days, 5.40% for 46–179 days, 6.15% for 180–210 days, 6.40% for 211 days to under 1 year, 6.75% for 1 to under 2 years, 6.90% for 2 to under 3 years, 6.80% for 3 to under 5 years, and 7.05% for 5 to 10 years. Rates are effective 15 December 2025; the 5–10-year rate includes the 50-basis-point SBI We-care premium.Effective 15 Dec 2025View source
The issuer publishes separate revised senior-citizen rows for each tenor and notes that We-care adds 50 bps to the 5–10-year rate.
- Source
- Retail Domestic Term Deposits - Interest Rates
- Page / section
- Revision in Interest Rates on Retail Domestic Term Deposits (Below ₹3 crore)
- Accessed
- 28 Aug 2026
- Confidence
- high
Geographic limitsA resident Indian personally as an individual, or as Karta of an HUF, with PANView source
The manually reviewed product record states: “A resident Indian personally as an individual, or as Karta of an , with ”.
- Source
- Tax Savings Scheme 2006 — official product page
- Page / section
- Published product metadata
- Accessed
- 12 Aug 2026
- Confidence
- high
Interest payout / redemptionThe annual deposit maximum is ₹1.5 lakh and the ordinary lock-in is five years.View source
The manually reviewed product record states: “The annual deposit maximum is ₹1.5 lakh and the ordinary lock-in is five years.”.
- Source
- Tax Savings Scheme 2006 — official product page
- Page / section
- Published product metadata
- Accessed
- 12 Aug 2026
- Confidence
- high
Benefits and features
- Published Section 80C tax-saving purpose
- Five-to-ten-year deposit choice
- Public and eligible senior-citizen term-deposit rates
- Nomination and branch-transfer facilities
- Death exception to the five-year premature-payment restriction
Eligibility
- The scheme is published for resident individuals or an karta with ; it is not the separately catalogued tax-saving deposit.
- The product's Section 80C treatment and available deduction depend on current law and the depositor's tax circumstances.
- The annual deposit maximum is ₹1.5 lakh and the ordinary lock-in is five years.
- The product cannot be pledged, and no loan or advance is allowed against it during the lock-in.
- The embedded home-loan promotional widget is unrelated; current deposit rates come from official retail term-deposit table.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- and deposit-opening documents applicable under current rules
- Proof of death when a surviving joint holder requests the published death-related early closure
Related official documents
SBI Retail Domestic Term Deposit Ratesofficial-rate-table · current · accessed 12 Aug 2026
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