SBI Special FD Scheme: If you’re looking for a guaranteed monthly income without market risks, the SBI Special FD Scheme could be your best bet. Designed to deliver ₹21,000 every month, this FD allows investors to deposit a lump sum and enjoy fixed monthly returns. But here’s the catch—applications are open only until 31st May 2025. Ideal for retirees and conservative investors, this scheme ensures stability and predictability in uncertain times.
How This SBI FD Plan Works
This is not a typical fixed deposit. Instead of reinvesting the interest, the SBI Special FD credits it to your savings account every month—perfect for managing monthly expenses. You choose a tenure between 5 to 10 years, and the bank locks your interest rate for that period. The scheme is available for both regular and senior citizens, with the latter enjoying higher interest rates.
Required Investment for ₹21,000 Monthly Income
To receive ₹21,000 every month, the investment depends on the interest rate and tenure selected. Here’s an overview:
| Investment (₹) | Interest Rate (%) | Tenure | Monthly Income (₹) | Total Interest (Annual) |
|---|---|---|---|---|
| 36,00,000 | 7.0 | 5 Years | 21,000 | 2,52,000 |
| 33,60,000 | 7.5 | 7 Years | 21,000 | 2,52,000 |
| 30,00,000 | 8.4 (Senior) | 10 Years | 21,000 | 2,52,000 |
| 28,00,000 | 9.0 (Special Rate) | 10 Years | 21,000 | 2,52,000 |
Note: Final figures vary as per live SBI FD rates.
Who Should Consider SBI FD Investment?
This scheme is tailor-made for investors who prefer safe and steady income over high-risk returns. Ideal candidates include:
- Senior citizens looking for reliable monthly earnings
- Retired professionals who need fixed post-retirement cash flow
- Parents budgeting for school or college fees
- Salaried individuals planning for future financial goals
- Anyone seeking a low-risk investment backed by SBI’s trust
Why SBI’s Special FD Stands Out
Unlike mutual funds or volatile stocks, this FD offers peace of mind. Here’s why it’s worth considering:
- Fixed monthly payout for better cash planning
- Higher interest for seniors
- Option for premature withdrawal (after 6 months)
- Trusted name – State Bank of India
- Easy to open via YONO App, Net Banking or Branch
You also get nomination and joint account options for added convenience.
How to Apply Before the Deadline
To lock in your monthly ₹21,000 payout, apply before 31st May 2025 using any of these methods:
- Online: Log in to SBI YONO or Internet Banking > Deposits > Special FD
- Offline: Visit your nearest SBI branch with required documents
- For NRIs/Corporate clients: Contact relationship manager
Documents Required:
- PAN card
- Aadhaar or address proof
- Recent photo
- Existing SBI savings account (for crediting interest)
FAQs – SBI FD Plan
Yes, but availability depends on the variant. NRI customers should check with their SBI branch.
Yes, after 6 months. However, premature withdrawal may involve a penalty.
Yes, if total annual interest exceeds ₹40,000 (₹50,000 for senior citizens).