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What is Flexi account in SBI?

Author

Avery Gonzales

Updated on February 17, 2026

What is Flexi account in SBI?

State Bank of India, or SBI, flexi deposit scheme is a sort of recurring deposit (RD) facility offered by India's largest bank to its customers. But unlike a recurring deposit account, where you have to deposit a fixed instalment every month, the deposit installment in SBI flexi deposit scheme can vary.

Furthermore, what is a flexi account?

A flexi bank account, as the name suggests, gives you the higher interest rate benefit of a Fixed Deposit account and the liquidity of a Savings Account! A flexi bank account is one such thing. It is a product which offers inter-linked savings and Fixed Deposit account.

Also Know, how can I close my SBI Flexi deposit? Yes, you may close your Flexi Deposit account online through "Close A/c" tab under SBI Flexi Deposit. Account created through any other means can not be closed through "Close A/c" tab under SBI Flexi Deposit.

Also question is, how can I open Flexi account in SBI?

A Flexi Deposit account can be set up at a minimum instalment of Rs 500, and requires a minimum investment of Rs 5,000 in a financial year, according to the SBI website. Deposits can be made anytime during a month and any number of times. The maximum amount that one can deposit in the Flexi Deposit scheme is Rs 50,000.

What is the maximum period in Flexi deposit account?

The maximum deposit allowed in the SBI flexi scheme amount is ₹50,000 in a financial year. 2) SBI flexi deposit scheme has a minimum deposit period of 5 years and maximum 7 years.

What do you mean by Flexi deposit?

A Flexi-Fixed deposit is a special kind of deposit offered by banks in India and other countries. It is a combination of a demand deposit and a fixed deposit. The depositor is able to enjoy both the liquidity of savings and current accounts and the high returns of fixed deposits.

What is Flexi limit?

Flexi Loan Features: You can withdraw the required loan amount as much required within the credit limit offered by the lender. It is a type of an overdraft facility where in customers can withdraw the required amount when in need of cash for managing contingencies; and.

How does a Flexible Savings Account work?

A flexible savings account allows you to choose the deposit amount and the frequency of your deposits. You cannot access your savings for a certain period to help you preserve your savings, and you can earn higher interest than with a flexible account, from 7%-9.1%.

What type of account is an Absa Flexi Account?

Absa Flexi Account. Get yourself a basic Absa account for R26. 00 per month. This account lets you pay for the transactions you make – The Flexi Account is a pay as you use the account.

How does capitec Flexi Account work?

The benefits of our flexible savings plans: Earn from 4.50% interest per year on daily balances. Choose your deposit amount and the frequency of your deposits. No monthly admin fee or minimum balance.

What do you need to set up a bank account?

First off, you need to bring at least one form of photo ID. Some banks may require two forms of identification. These forms can be a state ID, Social Security card, passport or birth certificate. You will need to provide personal information like your date of birth, physical address and phone number.

What is a flexi debit card?

An everyday card for everyday spending. Use your BNZ Flexi Debit Visa card to shop in stores, online and overseas from your everyday accounts. Upgrade to a Flexi Debit VisaOpen an account. Everyday banking.

What is the interest rate on a 32 day notice account?

32 Day Flexi Notice
AmountInterest (per annum)
R40 000 - R49 9995.85%
R50 000 - R74 9996.15%
R75 000 - R99 9996.20%
R100 000 - R499 9996.25%

How many years FD will double in SBI?

As on today i.e., july 14th 2019, the rate of interest you will get on 1 year duration fixed deposit in SBI is 7%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7 = 10.285. So it will take a little more than 10 years for your investment to get doubled in SBI.

Which is the best deposit scheme in SBI?

Tenure: The minimum tenure for a Fixed Deposit account with SBI is 6 months while the maximum tenure goes up to 10 years.

Know More About SBI Fixed Deposit.

Fixed Deposit SchemeMinimum TenureMaximum Tenure
Annuity Deposit Scheme3 years10 Years
SBI Flexi Deposit Scheme5 years7 years

What is saving plus account?

Savings Plus Account is a Savings Bank Account linked to MODS, wherein surplus fund above a threshold limit from the Savings Bank Account is transferred automatically to Term Deposits opened in multiples of Rs. 1000.

How can I fix my SBI money?

Stepwise process to open SBI FD online
  1. Step 1: Open and log in to SBI net banking by providing personal details.
  2. Step 2: Go to the homepage, click on the 'Deposit Schemes' option and go to 'Term Deposits'.
  3. Step 3: Proceed to choose the type of FD you want to open and click 'Proceed'

What is STDR?

STDR stands for Special Term Deposit and when a person makes an STDR deposit, he doesn't get the interest every month or every year. The rate of return in case of STDR is a little higher because of the compounding interest.

How can I open SBI Flexi account online?

Log into onlinesbi.com, SBI's net banking portal. On the 'Request' tab, SBI customers can find the e-Fixed Deposit tab. To initiate the account opening process, users have to click on 'e-RD/e-SBI Flexi Deposit link'. Select the 'e-RD' option and click on the 'proceed' button to move further.

What is the maximum amount for fixed deposit in SBI?

The minimum investment limit in case of SBI FD account is Rs 1,000. There is no maximum limit on the investment, according to SBI. 2. For SBI FD schemes, the tenure ranges between 7 days to 10 years.

What is SBI multi option deposit?

According to sbi.co.in, multi option deposit scheme (MODS) are term or fixed deposits linked to the savings or current account of an individual. Unlike normal term deposits which are fully liquidated anytime you need funds, you can withdraw from an MODS account in multiples of 1,000 according to your need of funds.

What is the minimum period of deposit in Flexi deposit account?

6) SBI flexi deposit scheme has a minimum deposit period of 5 years and maximum 7 years. 7) Senior citizens can avail higher rates of interest in the SBI flexi deposit scheme as compared to others.

How is interest calculated on flexi road?

The period of interest to be paid can be a Quarter, Half Year or Year based on the compounding period provided under the scheme. (Note: Total Products are divided by 365 in daily products and 12 in monthly products cases as Rate of Interest is per annum. Rate of Interest is divided by 100, as ROI is per cent).

What is SBI E deposit?

State Bank of India (SBI) offers an easy option to its savings bank account holders to open fixed deposit/term deposits using its online banking facility. Using SBI's online banking platform, SBI account holders can open e-fixed deposits sitting at the convenience of their home and save time.

What is the minimum deposit in SBI?

2) Customers in semi-urban branches are required to maintain a minimum balance of ₹2,000 in their SBI account, whereas SBI customers in rural areas are required to maintain an average monthly balance of ₹1,000.

How can I change my maturity instruction in SBI online?

To change maturity instruction of your FD :
  1. From the Deposit menu, click Fixed Deposit; and select Change FD Maturity Instruction.
  2. From the Account list, select the account.
  3. From the New Maturity Instruction list, select new maturity instruction.
  4. From the Crediting Account list, select the crediting account.

What is Flexi Rd?

A Flexi Recurring Deposit offers convenience and complete flexibility to depositors, where lump sums can be invested as and when available. Every Flexi Recurring Deposit has to be opened with a core amount for a particular tenure. This amount changes depending on the bank where the RD is being held.

What is FFD account?

A Flexi-Fixed deposit is a special kind of deposit offered by banks in India and other countries. It is a combination of a demand deposit and a fixed deposit. The depositor is able to enjoy both the liquidity of savings and current accounts and the high returns of fixed deposits.

What is fixed deposit account?

A fixed deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The interest rate varies between 4 and 7.50 percent.

What is daily deposit scheme?

DAILY DEPOSIT. Daily Deposit Scheme is a popular product which works on the same philosophy. With as low as ₹ 10 per day, you can save enough money through DD scheme along with earning an impressive interest as well. It is popularly known as Pigmy Deposit.

Which is the best RD scheme in India?

Best Recurring Deposit Scheme in India with Highest Interest Rates
  1. Deutsche Bank gives 7.50% p.a. for 5-year deposits, which is one of the best RD rates in India.
  2. For 1-year tenure, Lakshmi Vilas Bank offers the highest returns, at 7.50% p.a., followed by IndusInd Bank at 7.60%.

What is Super Saver in HDFC?

To serve this purpose HDFC offers its customers a Super Saver Deposit which is a fixed deposit that is linked to a savings account that allows depositors to withdraw money from the FD through the savings account. This account also allows depositors to access facilities like overdraft and sweep in.

What is flexi fixed deposit in Icici Bank?

ICICI Flexi Fixed Deposit Scheme Interest Rates. ICICI Bank offers a higher rate of interest for its medium and long term fixed deposits. The interest offered for Flexi Fixed Deposit scheme ranges from 6 – 6.50% per annum. The interest rate are subject to change at the discretion of the bank.

What is annuity deposit?

What is Annuity Deposit ? Under this scheme, a lump sum amount is deposited by a customer which is repaid to the customer over a period in equated monthly installment which comprises part of principle amount and interest on the reducing principle amount as well.

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