SBI Fixed Deposit For Girl Child

SBI Fixed Deposit for the girl child is a risk-free investment or savings avenue for parents to explore. The deposits earn an interest of 2.9% to 5.5% depending on the tenure of the account for deposits below Rs. 2 Crore. SBI also offers savings options for girl child such as Sukanya Samriddi Yojana, SBI Pehla Kadam, and SBI Pehli Udaan.

Read more
Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply

  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

We don’t spam
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated
58.9 million
Registered Consumers
26.4 million

SBI Fixed Deposit Schemes

SBI offers two FD options to parents of girls or any minors to create a corpus for them. These are SBI Term Deposit and SBI Special Term Deposit. These SBI fixed deposits for girl child can ensure that they don’t have to struggle for finances related to their education, marriage, or other needs. Parents can either nominate their girl child to receive the maturity payouts or transfer the account in their name once they reach the age of 18 years. 

SBI Interest Rates On Domestic Term Deposits

Deposit Amount Interest Rate
Deposits of below Rs. 2 Crores 2.9% to 5.5% (varies per the tenure)
Deposits of Rs. 2 Crores & above 3.10%

Let’s look at the features of SBI fixed deposit schemes for girl child.

  1. SBI Term Deposit

    SBI term deposit account allows parents to deposit a lump sum amount against which they earn interest of up to 5.5% per annum. The interest earned depends on the tenure of the account and the amount deposited.  

    Important Features Of SBI Term Fixed Deposit For Girl Child

    • There is no maximum limit to the amount that a parent may want to deposit for their girl child. 

    • Parents can claim the interest amount quarterly to pay for the needs of their child or get it at maturity along with the whole sum. 

    • Loans can be availed against the deposit amount to take care of urgent liquidity needs of the girl child. 

    • The account can be transferred in the name of the girl child once they reach the age of 18 years. 

    • Parents can also nominate the child to receive the benefit amount should they pass away before the end of the tenure. 

  2. SBI Special Term Deposit

    This SBI fixed deposit account is a variant of the SBI Term Deposit; the only difference lies in the interest payout. With SBI Special Term Deposit, the quarterly compounded interest is only paid out at maturity. Therefore, parents of the girl child can claim the entire benefit under this SBI FD scheme at the end of the chosen tenure.

    Important Features Of SBI Special Term Deposit For Girl Child

    • Parents can choose from a deposit period of 6 months to 10 years, at the completion of which they can claim the benefit amount along with the interest. 

    • Loans can be availed to finance the needs of your girl child, be it their education or other needs such as medical treatment. 

    • A girl child can have her own account or through their parent/guardian with the SBI special term deposit scheme. 

    • The girl child can be nominated to receive the maturity payout on the death of the parent on whose name the account was originally opened. 

    Apart from these SBI fixed deposits for girl child, parents can also look at SBI Sukanya Samriddhi Yojana for girl children below the age of 10 years to grow a sizeable corpus for them. The interest rate for this account is currently the highest at 7.6%. The only limitation to this scheme is that there is a cap on the maximum sum that one can deposit annually, viz Rs. 1.5 Lakhs. 

Benefits Of SBI Fixed Deposit For Girl Child

  • Nomination - Parents with an SBI FD account can name their girl child as the nominee to receive the maturity amount. This ensures that no other party can claim the proceeds in the event of the parent's death. 

  • Reasonable Interest Rate - FD accounts are associated with an interest rate that compounds quarterly and is added to the amount deposited. This accrued interest along with the maturity amount ensures increased returns. 

  • Zero Risk - The returns from your SBI fixed deposit account is risk-free. You can rest assured that the amount you deposit shall earn interest and can be claimed in full at the time of maturity. 

  • Tax Benefit - The capital gains from SBI fixed deposit for girl child are eligible for tax deductions up to a certain amount.


  • What is the minimum deposit amount for SBI fixed deposit for girl child?

    The minimum amount that one can deposit is Rs. 1000. Subsequent deposits can be increased in multiples of Rs. 100. 
  • Can I open an SBI fixed deposit account for my girl child?

    Yes, parents of a minor girl child can open an SBI fixed deposit account for their girl child. Alternatively, they can nominate their girl child to be entitled to the proceeds in the event of their death. 
  • Which is the best fixed deposit scheme for a girl child in India?

    SBI offers several options for parents to save for their girl child. SBI Sukanya Samriddhi Scheme offers the highest interest rate at 7.6% and is, therefore, an ideal choice for parents of a minor girl child.
  • Can I apply for loans with SBI fixed deposit?

    Yes, you can apply for a loan against your SBI fixed deposit account on the completion of a specific tenure.
  • Is premature withdrawal available with SBI fixed deposit for girl child?

    Yes, premature withdrawal option can be exercised if you have urgent liquidity needs. However, a penalty of up to 1% shall be levied on the amount withdrawn.

Child plans articles

Recent Articles
Popular Articles
Ponmagan Podhuvaippu Nidhi Scheme (PPNS)

24 May 2023

Post Office Ponmagan Podhuvaippu Nidhi scheme is a social
Read more
Ladli Lakshmi Yojana

13 Apr 2023

Ladli Lakshmi Yojana is a financial assistance programme for the
Read more
Kanya Kosh Scheme

12 Apr 2023

Kanya Kosh Scheme is a step taken by the State Government of
Read more
Claim Settlement Process for a Child Insurance Policy

04 Apr 2023

As a parent, you go to lengths to decide on the best child plan
Read more
Ladli Pension

28 Feb 2023

Ladli Pension Scheme was launched by the State Government of
Read more
Best Child Investment Plans to Invest in 2023
Planning for the child’s secured future is not an easy task. Most of the people try to create a strong financial
Read more
Prime Minister Schemes For Boy Child
Like the Prime Minister’s Sukanya Samriddhi Yojana savings scheme for a girl child, there are several
Read more
Best Investment Plans for Girl Child in India
The right kind of investment of your hard-earned money is necessary, but when it comes to your child, making
Read more
Government Plans For Girl Child
Government Plans For Girl Child India's State and Central Governments have introduced novel schemes for a girl child
Read more
Best Child Insurance Plans
A child insurance plan is a combination of savings and insurance, which help the individuals to plan for the
Read more

Download the Policybazaar app
to manage all your insurance needs.