SBI Sarvottam Fixed Deposit Scheme

The SBI Sarvottam FD Scheme is a specialized non-callable fixed deposit offering higher interest rates for substantial deposits. Focusing on short-term tenure and competitive returns, this scheme is tailored for individuals and entities looking for secure and predictable investment options.

Key Details of SBI Sarvottam FD Scheme

Details	Description
Minimum Deposit	₹15.01 lakhs for retail; ₹2 crore for bulk deposits
Maximum Deposit	₹2 crore for retail; ₹5 crore for bulk deposits
Tenure	1 year and 2 years only
Interest Rates	7.10%–7.90% p.a. (senior citizens receive additional benefits)
Premature Withdrawal	Not allowed (non-callable FD)
Renewal Option	Not available; maturity proceeds are credited to a designated bank account
Eligibility	Available for resident individuals and non-individuals (excluding minors, NRIs)

SBI Sarvottam FD Interest Rates (2024)

Tenure	Interest Rate (General Citizens)	Interest Rate (Senior Citizens)
1 Year	7.10%	7.60%
2 Years	7.40%	7.90%

Features of SBI Sarvottam Term Deposit

1. Higher Returns:

   • Offers 30 basis points (bps) higher for 1-year tenure and 40 bps higher for 2-year tenure over standard FDs.

2. Short Tenure:

   • Ideal for short-term financial planning with tenures limited to 1 or 2 years.

3. Non-Callable Deposit:

   • Premature withdrawals are not permitted, ensuring higher interest rates for committed funds.

4. Large Deposit Focus:

   • Minimum deposit starts at ₹15.01 lakhs, catering to high-net-worth individuals or entities.

5. Loan Facility:

   • Demand loans against the deposit are available with applicable margins, offering liquidity without breaking the FD.

6. Safe Investment:

   • Backed by SBI, a government-owned bank, ensuring reliability and security.

7. Account Access:

   • Opening and account management are available exclusively through SBI branches.

Benefits of SBI Sarvottam Deposit

1. Higher Interest Rates:

   • Earn better returns compared to regular FDs or government savings schemes like PPF or NSC.

2. Secure Investment:

   • Backed by SBI’s credibility, this scheme is an excellent low-risk option.

3. Customizable Tenures:

   • Offers flexibility with short-term investment horizons of 1 or 2 years.

What are Non-Callable Deposits?

Non-callable deposits are fixed deposit schemes that do not allow premature withdrawals. As the funds remain locked until maturity, they are ideal for investors seeking higher interest rates. In cases of exceptional withdrawal, penalties apply, and interest rates may be adjusted.

Eligibility to Open SBI Sarvottam FD

The scheme is available to:

• Resident individuals (singly or jointly)

• Firms and companies

• Government bodies and local authorities

(Note: Minors and NRIs are not eligible for this scheme.)

How to Open an SBI Sarvottam Fixed Deposit?

1. Branch Visit:

   • The SBI Sarvottam FD can only be opened by visiting an SBI branch.

2. Documentation:

   • Provide identity proof, address proof, and PAN details.

3. Account Setup:

   • Deposit funds starting from ₹15.01 lakhs, and your FD account will be linked to your savings or current account.

The SBI Sarvottam FD Scheme is an attractive option for investors seeking a safe, high-return investment over a short duration. While it offers limited liquidity, the higher interest rates and secure nature make it a compelling choice for those with significant funds to invest.