Here is all you need to know about SBI Annuity Deposit SchemeEligibilityA person should be a resident individual which could include a minor. Deposit amountCustomers are required to deposit a minimum of ₹25,000 in the SBI annuity deposit scheme. TenureMaturity options of 3 years, 5 years, 7 years and 10 years are available under the SBI annuity deposit scheme. Rate of interest for senior citizensLike FDs, senior citizens will get 50 basis points (bps) above the applicable rate in the SBI annuity scheme. The interest rate payable to SBI Staff and SBI pensioners will be 1% above the applicable rate.

Source: Mint July 04, 2021 06:00 UTC