SBI Annuity Fixed Deposit Account: Interest Rate, Tenure And All Details Here
State of India (SBI) offers various deposit scheme accounts under it's personal finance portfolio. SBI's deposit scheme ranges from fixed deposit (FD) scheme to recurring deposit (RD) scheme, from tax savings scheme to multi option deposit scheme, among others. The lender has a plenty of scheme to choose from when it comes to picking a fixed deposit (FD). SBI's annuity deposit account is also a type of fixed deposit (FD) account that enables the depositor to pay one time lump sum amount and receive the same in equated monthly instalments (EMIs), comprising a part of the principal amount as well as interest on the reducing principal amount, compounded at quarterly rests and discounted to the monthly value, said SBI.