SBI Special FD Plan – Looking for a fixed deposit that gives you more than just annual interest? SBI has something pretty cool lined up! With their limited-time FD scheme, you can get ₹8,000 every week, straight into your account. Yup, weekly income from your savings – and the offer is open only till May 31, 2025.
Let’s break it all down in simple terms:
What’s This ₹8,000 Weekly SBI FD Plan?
SBI has launched this fixed deposit scheme where you invest a lump sum and in return, you get ₹8,000 every single week. It’s perfect for anyone who wants a steady income stream without worrying about the ups and downs of the market.
This plan is great for:
- Retirees
- People with idle funds looking for a safe option
- Anyone who prefers regular payouts over yearly ones
Who Can Apply?
Pretty much any Indian citizen above 18 can apply. And yes, senior citizens get extra benefits (hello, higher interest rates!).
Just make sure you’ve got:
- Aadhaar and PAN
- Address proof
- A bank account
- A passport-sized photo
How Much Do You Need to Invest?
This is the big question. To receive ₹8,000 every week, here’s an idea of how much you’ll need to put in, based on tenure and interest rate:
| Tenure | Interest Rate | Investment Needed |
|---|---|---|
| 12 months | 7.2% | ₹12,00,000 |
| 18 months | 8.0% | ₹10,75,000 |
| 24 months | 8.2% | ₹10,25,000 |
| 60 months | 9.0% | ₹9,25,000 |
| 72 months | 9.2% | ₹9,00,000 |
Note: These are sample estimates. Senior citizens can get 0.50% extra interest in many SBI FDs.
How to Apply?
You’ve got two options:
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Offline – Visit your nearest SBI branch with your documents, fill out the FD form, and deposit your money.
Online (super easy!) – Use SBI Net Banking or the YONO app:
- Log in
- Go to “Fixed Deposit”
- Pick this special plan
- Enter amount + duration
- Done!
Why This Plan Makes Sense
Here’s why a lot of people are jumping on this offer:
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- Weekly income = easier cash flow for daily expenses
- Safer than stocks or mutual funds
- Flexible tenures – you can pick what works best for you
- Government-backed – so it’s reliable
- Eligible for tax saving (on 5-year FD under Section 80C)
A Few Things to Keep in Mind
- You can withdraw early, but you might lose some interest
- Interest earned is taxable
- Always compare with other bank offers
- If you’re a senior citizen, ask for the higher slab rate
How Does It Compare?
| Bank | Rate | Weekly Return on ₹10L | Tenure |
|---|---|---|---|
| SBI | 8.0% | ₹8,000 | 18 months |
| HDFC | 7.25% | ₹7,500 | 24 months |
| ICICI | 7.4% | ₹7,600 | 24 months |
| IDFC | 8.2% | ₹8,200 | 12 months |
SBI’s offer is super competitive—plus, it comes with that trust factor.
Should You Go for It?
If you’ve got spare funds and are looking for a stable, weekly income, this plan could be perfect. It’s great for people who want zero risk and fixed returns. Just be sure the lock-in period works for you, and always double-check the latest interest rates.
But remember: This offer is only valid till May 31, so if you’re interested, don’t wait too long.
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