SBI is India’s largest bank and its RD scheme mirrors the interest rates of its fixed deposits. With an easy monthly deposit model, it encourages disciplined saving without locking large funds upfront. SBI offers three variants: Regular RD, Holiday Savings RD (linked with Thomas Cook), and Flexi RD (auto-sweep), each designed for different planning horizons. The RD scheme does not offer tax benefits, but investors can avail loans against deposits, nomination, easy transferability between branches, and online management via e-RD through netbanking. TDS is applicable if annual interest exceeds ₹40 000/₹50 000 (with PAN submitted), or 20% without PAN.
