The State Bank of India (SBI) has launched a new financial product the SBI ₹5 Lakh Savings Scheme 2025 designed to promote disciplined savings and provide secure returns. This initiative is aimed at individuals who want to grow their money without taking market risks. With its steady interest rate and flexible tenure options, the plan offers a balance between safety and earnings, making it suitable for both regular and senior account holders.
This savings plan is part of SBI’s ongoing commitment to encourage financial stability among its customers by providing reliable and easy-to-manage products. In an era of fluctuating market conditions, the SBI ₹5 Lakh Savings Scheme 2025 offers peace of mind for those seeking guaranteed returns on their deposits. The application process has already begun, and eligible customers can apply through any SBI branch or the online portal.
Key Features of SBI ₹5 Lakh Savings Scheme 2025
| Feature | Details |
|---|---|
| Scheme Name | SBI ₹5 Lakh Savings Scheme 2025 |
| Maximum Deposit Limit | ₹5,00,000 |
| Interest Rate | Up to 7.5% per annum (depending on tenure) |
| Tenure Options | 3 to 5 years |
| Eligibility | Existing SBI savings or salary account holders |
| Premature Withdrawal | Permitted with nominal penalty |
| Application Mode | Online and Offline |
| Insurance Cover | Deposits insured up to ₹5 lakh under RBI rules |
This deposit scheme is particularly beneficial for those who wish to earn more than a traditional savings account offers, while still keeping their money in a safe, bank-backed environment.
Facts vs Rumours
| Facts | Rumours |
|---|---|
| The plan allows deposits up to ₹5 lakh with interest benefits. | SBI is distributing ₹5 lakh free to all account holders. |
| It is a savings and investment product, not a subsidy. | It is a government-funded welfare payout. |
| Only existing SBI customers can participate. | Anyone with an Aadhaar card can apply. |
| The deposit must be made by the customer. | The bank automatically credits ₹5 lakh to all accounts. |
| Early withdrawal may reduce interest earnings. | Withdrawals can be made anytime without penalty. |
| Insurance cover follows RBI norms. | Insurance cover is unlimited. |
| Only SBI’s official channels are valid for applications. | Third-party links or WhatsApp forms can be used. |
Eligibility Criteria
Applicants must have an active SBI savings or salary account for at least six months. The minimum age requirement is 18 years, and both PAN and Aadhaar must be linked to the bank account. Senior citizens are eligible for higher interest rates as an additional benefit.
Documents Required
- Aadhaar Card
- PAN Card
- Passport-size photograph
- Address proof such as voter ID, utility bill, or driving license
- Latest SBI account statement
Application Process
Offline Method:
- Visit the nearest SBI branch.
- Ask for the SBI ₹5 Lakh Savings Scheme 2025 application form.
- Complete the form, attach required documents, and submit it.
- Deposit the amount via cheque or transfer.
- Collect the acknowledgment slip for reference.
Online Method:
- Log in to SBI Internet Banking or the YONO mobile app.
- Select the “Special Deposit Schemes” or “Fixed Deposits” section.
- Enter the deposit amount (up to ₹5 lakh).
- Choose your preferred tenure and confirm.
- Save the digital acknowledgment for future use.
Benefits of the Scheme
The scheme offers higher interest than a standard savings account, flexible tenure options, and a safe investment backed by SBI’s reliability. Customers can also choose automatic renewal on maturity and withdraw funds early if needed, with a minor deduction.
Senior citizens receive an extra 0.5% interest rate, and there are no hidden costs or maintenance fees, making it one of the most transparent savings options in 2025.
Important Information
| Point | Details |
|---|---|
| Eligibility | Only SBI customers can apply |
| Minimum Tenure | 3 years |
| Maximum Tenure | 5 years |
| Additional Benefit | Senior citizens earn extra interest |
| Insurance | ₹5 lakh under RBI’s DICGC protection |
Final Verdict
The SBI ₹5 Lakh Savings Scheme 2025 offers a secure and profitable option for individuals looking to grow their funds without market risks. With guaranteed returns, flexible duration, and the trust of India’s largest bank, it is an excellent choice for both young investors and retirees who prioritize safety over high-risk investments.
Disclaimer
This article is for informational purposes only and is not a substitute for financial advice. Customers should verify all scheme details directly with the official State Bank of India website or branch before applying. Interest rates and terms may vary as per the bank’s latest guidelines.
