You can open an SBI Flexi Deposit Scheme either through SBIs online portal, (SBI net banking) or by visiting their branch. For instance, if you have opened an account with Rs 1,000, the maximum amount that you can deposit will be Rs 10,000. Even though it is said that depositors can deposit any number of installments in a month and any time, but the maximum amount is capped at 10.Īlso, if you have opened the account with a certain amount, you cannot deposit more than 10 times the amount in a month. This comes with a minimum and maximum deposit amount of Rs 5,000 and Rs 50,000, respectively, in a financial year, while the minimum installment amount is set at Rs 500.
One can also choose the number of monthly installments, within the annual sum defined.
SBI Flexi Deposit Scheme: Depositors can decide to vary his/her installment amount, instead of a single fixed installment every month as in regular FDs. Find out what SBI, HDFC and ICICI Bank have to offer. Names of these flexible fixed deposits differ from bank to bank. How to use credit cards wisely in financial emergencies
