SBI Weekly FD Plan – If you’re someone who loves the idea of earning regular income without taking much risk, then SBI’s latest FD offer might just catch your attention. The State Bank of India is offering a fixed deposit plan that gives you a guaranteed return of Rs 8000 every week. This special offer is only available until May 31, 2025, so if you’re thinking of investing, now’s the time to act.
What Is the SBI Weekly FD Plan All About?
This FD plan is designed for people who want steady income on a regular basis. Instead of waiting months or years for maturity, investors in this plan receive Rs 8000 every week, directly into their bank account. It’s especially useful for retirees, salaried professionals, or anyone who wants predictable weekly earnings.
This scheme works on a lump-sum deposit. Once you invest, SBI pays out interest every week, so you don’t have to worry about market ups and downs. The money is safe, and the returns are fixed.
Who Can Invest?
This plan is open to Indian residents aged 18 and above. Senior citizens are also eligible and may get slightly better interest rates. You’ll need basic documents like your Aadhaar, PAN card, address proof, a passport-size photo, and bank account details.
How Much Do You Need to Invest?
To earn Rs 8000 per week, you’ll need to invest a decent amount. The actual deposit depends on the tenure you choose and the interest rate that applies at the time.
Here’s a general idea of how much you’d need to invest:
- For a 1-year term at 7.2 percent, you need to deposit around Rs 12 lakhs
- If you go for a 3-year term at 8.5 percent, the amount needed drops to around Rs 9.75 lakhs
- For a 6-year term at 9.2 percent, just Rs 9 lakhs is enough to fetch the same weekly return
The longer your investment period, the lower your upfront deposit requirement tends to be because you get a higher rate of interest.
Note that senior citizens often get a small extra boost in their interest rates, which could mean needing slightly less capital to reach the same return.
How to Apply for This FD Plan
You can apply either by visiting your nearest SBI branch or doing it all online from the comfort of your home.
Offline Process:
- Head to your local SBI branch with your documents
- Fill out the FD form and choose the weekly payout option
- Submit your deposit amount through cheque or transfer
- You’ll receive a receipt and schedule of your weekly payouts
Online Process (Using SBI Net Banking or YONO App):
- Log in to your SBI account
- Go to the Fixed Deposit section
- Pick the special weekly FD plan
- Enter your deposit amount and select tenure
- Confirm and submit your application
It’s quick, simple, and doesn’t require standing in line.
Why This Plan Stands Out
Here’s why a lot of people are showing interest in this weekly FD offer:
- Guaranteed income every week: Helps manage regular expenses
- Safer than shares or mutual funds: No market-related risks
- Flexible tenures: Choose between 1 and 6 years
- Backed by SBI: Trusted by millions across India
- Transparent earnings: You know exactly what you’ll get and when
Also, for those looking to reduce their tax burden, some tenures under this scheme may offer benefits under Section 80C.
Things to Keep in Mind Before Investing
As attractive as the plan is, there are some important points to consider:
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- If you withdraw your money before maturity, your earnings might be lower due to penalties
- The interest you earn will be taxable, depending on your income bracket
- Make sure the tenure and payout suit your needs
- Always compare similar plans from other banks before locking in your money
How Does It Compare with Other Banks?
Here’s a quick comparison with other banks offering weekly return options:
- HDFC Bank offers Rs 7500 weekly return on Rs 10 lakh deposit at 7.25 percent
- ICICI Bank offers Rs 7600 weekly at 7.4 percent
- Axis Bank gives Rs 7550 weekly return at 7.3 percent
- IDFC Bank offers the highest rate at 8.2 percent, giving you Rs 8200 weekly on Rs 10 lakh
SBI’s 8000 per week might not be the absolute highest, but it’s one of the safest with strong trust value.
If you’re someone who wants a regular and safe income from a one-time investment, this SBI FD scheme could be a great fit. It’s especially helpful for retirees or anyone wanting to create a steady side income. Just make sure you invest only what you can spare for the lock-in period and always take tax implications into account.
Before investing, it’s best to visit your local SBI branch or talk to a financial advisor to clear any doubts. But remember, the deadline is May 31, 2025 – so don’t wait too long.