This article offers a brief summary of the key aspects of the State Bank of India’s SBI Tax Saving schemes. Since these details are subject to frequent updates, please refer to the bank’s official website for the most current information on features and interest rates.
SBI – SBI Tax Saving Scheme Features:
- Minimum duration: 5 years – Maximum duration: 10 years.
- Interest compounded quarterly.
- A lock-in period of 5 years is applicable.
- No loans or advances can be availed against these deposits during the lock-in period.
- Minimum deposit: Rs. 1,000/- or in multiples thereof.
- Maximum deposit: Up to Rs. 1,50,000/- per year.
- Term Deposits cannot be transferred to another bank.
- Interest rates align with those applicable to Term Deposits.
How to invest?
Click here to invest in the State Bank of India’s SBI Tax Saving Scheme.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank/institution.