In Fixed Deposit account customer makes one time Deposit and receives the maturity amount at maturity date which comprises principal and interest in case of STDR and principal only in case of TDR as interest is paid at periodic interval.

How Annuity deposit is different from Fixed deposit account ?.In Recurring deposit account customer makes the payments in installments and receives the maturity amount at maturity date while Annuity deposit accepts one time deposit and that amount plus interest on reducing principle is repaid to the customer in installments over the tenor selected by him / her. How Annuity deposit is different from Recurring deposit account ?.If date is non-existent (29th, 30th and 31st), it will be paid on 1st day of next month. Payment will start on anniversary date of the month. Using the scheme customer can have fixed monthly amount against his one time 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. SBI Annuity Deposit Frequently Asked Questions

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