Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Published tax purposeDeposits are published as eligible for tax benefits under Section 80C of the Income-tax Act, 1961
Source 1Eligible depositorsA resident Indian personally as an individual, or as Karta of an HUF, with PAN
Source 2Deposit formTerm Deposit or Special Term Deposit
Source 3Deposit period5 to 10 years
Source 4Lock-in period5 years
Source 5Deposit amountMinimum ₹1,000 and multiples thereof; maximum ₹1,50,000 in a year
Source 6Current public rate6.05% p.a. for 5 to 10 yearsEffective 15 Dec 2025
Source 7Current senior-citizen rate7.05% p.a. for 5 to 10 yearsEffective 15 Dec 2025
Source 8Interest treatmentQuarterly compounded
Source 9Loan and pledge restrictionNo loan or advance against the deposit during lock-in, and the deposit cannot be pledged to secure a loan or another asset
Source 10Premature paymentNot allowed before five years except on the depositor's death
Source 11Joint-account death closureAfter the first holder's death, the other holder may apply at the branch for early encashment with proof of death
Source 12NominationAvailable
Source 13Deposit transferTransferable between SBI branches on application at either branch; not transferable to another bank
Source 14Deposit evidenceThe branch issues an A4 deposit advice and asks the customer to sign its front
Source 15Benefits and features
- Published Section 80C tax-saving purpose
- Five-to-ten-year deposit choice
- Public and eligible senior-citizen term-deposit rates
- Nomination and SBI branch-transfer facilities
- Death exception to the five-year premature-payment restriction
Eligibility
- The scheme is published for resident individuals or an HUF karta with PAN; it is not the separately catalogued NRO 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 SBI's official retail term-deposit table.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- PAN
- KYC and deposit-opening documents applicable under SBI's current rules
- Proof of death when a surviving joint holder requests the published death-related early closure