The minimum tenure is 5 years and maximum is 7 years.
State Bank of India (SBI) offers Flexi Deposit Scheme for customers. This product is similar to recurring deposit (RD) but instead of a single fixed instalment every month, user can decide to vary his/her instalment amount and even the number of monthly within the annual sum defined, as mentioned on the official website of SBI- sbi.co.in. The minimum instalment amount is Rs 500. For a financial year, the minimum deposit amount is Rs 5,000 and maximum deposit amount is Rs 50,000.