- The e-Annuity deposit account in INR will be generated in the same name(s) of the account holder(s) as in account from which it is funded.
- e-Annuity deposit account with additional rate of interest for Senior Citizens will be issued if option for "Senior Citizen" is selected by the customer and age of customer is 60 Yrs or above, on the date of creating the recurring deposit, as per date of birth recorded with the Bank. The minimum tenure and minimum amount applicable for additional rate of interest for senior citizen will be as per Bank's policy.
- In Annuity deposit, as part of the principle and interest on reducing principle is paid in installments over a period of time hence at maturity date the maturity amount remains 0 (Zero).
- In case of premature payment, the deposit shall be subject to penalty provisions at the rates decided by Bank from time to time
- Pre-mature closure will not be permitted through Internet Banking.
- The interest earned on e-Annuity deposit will be subject to TDS.
- Kindly visit your SBI branch with your PAN card (original and copy) to get the same updated in the bank records.
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