SBI Special FD Scheme : The State Bank of India (SBI), India’s largest public sector bank, has launched a limited-period Fixed Deposit (FD) scheme that promises high monthly returns for investors. This scheme is specially designed for individuals looking for secure, predictable monthly income through a lump sum deposit. With applications closing on 31st May 2025, this SBI FD offers a golden opportunity to earn ₹21,000 every month with guaranteed returns.
Whether you are a retiree, salaried professional, or looking for a safe investment option with fixed monthly income, this new SBI FD scheme is worth exploring. Let’s dive into the key details.
What is the SBI Special FD Scheme?
The SBI Special FD scheme is a high-interest fixed deposit plan launched for a limited time, aimed at individuals seeking consistent income. Here are its key features:
- Offers fixed monthly interest payout
- Available only until 31st May 2025
- Suitable for both senior citizens and general investors
- Interest rates higher than regular FDs
- Safe and backed by SBI’s credibility
Key Features of the Scheme
- Scheme Name: SBI Special Monthly Income FD
- Validity: Open till 31st May 2025
- Interest Payout: Monthly
- Investment Type: Lump sum deposit
- Tenure Options: 5 to 10 years
- Interest Rate: Up to 7.5% per annum
- Monthly Return: Fixed ₹21,000 (based on invested amount)
- Eligibility: Indian citizens, senior citizens, NRIs (some variants)
How Much to Invest for ₹21,000 Monthly Income?
The table below outlines the approximate investment required to generate ₹21,000 per month from this FD plan, based on current SBI interest rates.
| Investment Amount (₹) | Interest Rate (%) | Tenure (Years) | Monthly Return (₹) | Annual Return (₹) | Total Maturity (₹) | Tax Applicable |
|---|---|---|---|---|---|---|
| 36,00,000 | 7.0 | 5 | 21,000 | 2,52,000 | 36,00,000 (principal) | Yes |
| 33,60,000 | 7.5 | 7 | 21,000 | 2,52,000 | 33,60,000 (principal) | Yes |
| 30,00,000 | 8.4 (senior) | 10 | 21,000 | 2,52,000 | 30,00,000 (principal) | Yes |
| 31,20,000 | 8.0 | 8 | 21,000 | 2,52,000 | 31,20,000 (principal) | Yes |
| 35,00,000 | 7.2 | 6 | 21,000 | 2,52,000 | 35,00,000 (principal) | Yes |
| 28,00,000 | 9.0 (special offer) | 10 | 21,000 | 2,52,000 | 28,00,000 (principal) | Yes |
| 29,40,000 | 8.6 | 9 | 21,000 | 2,52,000 | 29,40,000 (principal) | Yes |
Note: These are estimated values. Final figures depend on applicable rates at the time of deposit.
Who Should Consider This FD?
This SBI Special FD scheme is ideal for:
- Retirees seeking stable monthly income
- Parents planning for their child’s recurring educational expenses
- Salaried individuals looking for safe investments
- Conservative investors wanting assured returns
- Senior citizens looking for higher FD interest
Benefits of SBI Special Monthly Income FD
- Monthly income ensures regular cash flow
- Safer than market-linked investments
- Higher interest rates for senior citizens
- Backed by the trust of SBI
- Premature withdrawal allowed (with terms)
- Easy nomination and joint holding options
See More : SBI Offers New FD Returns for Seniors
Comparison with Other FD Schemes
| Bank/Institution | Max Interest Rate | Senior Citizen Rate | Monthly Payout Option | Tax Benefit Available | Maximum Tenure |
|---|---|---|---|---|---|
| SBI Special FD | 7.5% | 8.4% | Yes | 80C (for tax-saving FDs) | 10 Years |
| HDFC Bank | 7.2% | 7.75% | Yes | 80C | 10 Years |
| ICICI Bank | 7.1% | 7.65% | Yes | 80C | 10 Years |
| Post Office MIS | 7.4% | Same | Yes | No | 5 Years |
| LIC Monthly Income FD | 7.3% | 8.0% | Yes | No | 5-10 Years |
| Axis Bank | 7.1% | 7.6% | Yes | 80C | 10 Years |
| IDFC First Bank | 7.8% | 8.25% | Yes | No | 5-7 Years |
How to Apply for SBI Special FD Before 31st May?
Interested investors can open the SBI Special FD account through the following methods:
- Online via SBI YONO App: Log in > Select ‘Deposits’ > Choose ‘Special FD’ > Fill in details
- Visit SBI Branch: Carry KYC documents and cheque for deposit
- Through SBI Internet Banking: Under ‘e-Fixed Deposit’ tab
- Corporate & NRI Customers: Can contact their relationship manager for bulk FDs
Documents Required
- PAN Card
- Aadhaar Card (or other address proof)
- Passport-sized photograph
- SBI savings account (for crediting interest)
Taxation Rules on SBI FD Returns
- Interest is taxable under ‘Income from Other Sources’
- TDS applicable if interest exceeds ₹40,000/year (₹50,000 for senior citizens)
- Investors can submit Form 15G/15H to avoid TDS (if applicable)
Tips to Maximize FD Returns
- Senior citizens should opt for senior FD variant for higher returns
- Ladder your investments to beat future interest rate dips
- Submit 15G/15H annually if your income is below taxable limits
- Reinvest matured FDs timely to avoid interest loss
Important Dates & Deadlines
| Activity | Date |
|---|---|
| Scheme Launch | April 1, 2025 |
| Last Date to Apply | May 31, 2025 |
| Interest Payment Cycle | Monthly (1st week) |
| Tenure Selection Window | 5 to 10 Years |
| Premature Withdrawal Option | After 6 months |
| Nomination Facility Deadline | At time of account opening |
The SBI Special FD scheme offering ₹21,000 in monthly income is a strong option for investors seeking low-risk, fixed-income opportunities. With tenure flexibility, higher rates for senior citizens, and SBI’s trustworthy banking legacy, this plan caters to a wide range of financial goals. As the application window closes on 31st May 2025, interested individuals should act fast to secure their investments and lock in attractive interest rates.
This article is for informational purposes only. Interest rates are subject to change based on RBI policy and SBI discretion. Please consult with SBI or your financial advisor before investing.
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