SBI Investment Plans

SBI Investment Plans aim to provide customers with dual benefits of investment and insurance. It can offer customers a sense of financial security and stability, helping them to build a more prosperous future for themselves and their families.

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What are SBI Investment Plans

SBI Investment Plans cater to the investment needs of a diverse range of investors, including those with a low risk appetite who are looking for stable returns, as well as those with a higher risk tolerance who are willing to take on greater risk in the pursuit of higher returns. These plans offer a wide range of investment options, each with its own unique features and benefits.

Whether you are an experienced investor or just starting out, SBI Investment Plans provide you with the opportunity to build a diversified investment portfolio that aligns with your financial goals and risk profile.

Comparison Between
Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund
Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund
Guaranteed Return Plans
Returns Before Tax
7.5% (TAX-FREE)
Returns After Tax
7.5%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
awards
Still Better than FD’s and Debt Mutual Fund
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
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*For annual premium upto ₹5 Lacs

SBI Investment Plans

SBI Life Insurance Company offers various types of Investment Plans to its customers with attractive features and benefits. Here is the detailed list of plans along with their respective features and benefits.

  1. SBI Smart Humsafar 

    A traditional joint life endowment plan with the following features:

    • The husband and wife can be covered under a single policy

    • Guaranteed bonuses @ 2.50% of the Sum Assured in the first 3 years of the plan

    • On maturity of both the lives the Sum Assured including simple reversionary bonus and terminal bonus, if any, is paid

    • On death of either of the husband or wife higher of the basic Sum Assured or 10/7 times the annual premium or 105% of the total premiums paid till death is paid. Furthermore, all future premiums are waived off and the plan continues

    • In the event of the second death, higher of the basic Sum Assured or 10/7 times the annual premium or 105% of the total premiums paid till death is paid

    • SBI Life Accidental Death Benefit Rider can be availed which promises an additional amount in case of accidental death

    • Rebates are allowed in premium for choosing higher Sum Assured levels of Rs.3 lakhs and above

    • The premiums paid in this SBI Investment Plan are exempt from taxation under Section 80C of the Income Tax Act and the claim received is exempt under Section 10(10D) of the Income Tax Act.

    Eligibility Details

      Minimum Maximum
    Entry Age 18 years 46 years
    Maturity Age - 65 years
    Policy Term 10 years 30 years
    Sum Assured Rs.1 lakh Rs.5 crores
    Annual Premium Amount Rs.6000 No limit
    Premium Payment Term Equal to policy term
    Premium Payment Frequency Yearly, half-yearly, quarterly, monthly
  2. SBI Life Smart Money Planner 

    This SBI Investment Plan has the following features:

    • The plan has a concept of Growth Period and Benefit Period which depends on the Premium paying term of the plan

    • The Growth Period starts after the Premium paying term which is limited

    • The Benefit Period starts after the completion of the Growth Period and during this period a fixed percentage of the Sum Assured is paid to the policyholder.

    • In case of death, the Sum Assured on death along with the vested simple bonus and terminal bonus if any is payable

    • The Sum Assured on death is higher of the basic Sum Assured or the final benefit instalment payable at maturity or 10/7 times the annual premium or 1.25/1.10 times the single premium paid or 105% of all premiums paid till death

    • On maturity, the final instalment of the benefit amount and the vested simple bonus and terminal bonus if any is payable

    • Rebates are allowed in premium for choosing higher Sum Assured levels of Rs.3 lakhs and above

    • The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

    Eligibility Details

      Minimum Maximum
    Entry Age 18 years 60 years
    Maturity Age - 75 years
    Policy Term 15 years 25 years
    Sum Assured Rs.1 lakh Rs.5 crores
    Premium Payment Term 6 or 10 years
    Premium Payment Frequency Yearly, half-yearly, quarterly, monthly
  3. SBI CSC Sarai Sanchay 

    A traditional variable insurance plan with the following features:

    • Guaranteed interest @1% is paid in every year of the plan

    • The premium paid is invested in a policy account net of allocation charges

    • Additional interest rate @4% of the policy account is credited in each quarter during the first 5 years and thereafter the rate becomes 0.5%

    • On death, higher of the policy fund account or Sum Assured including any top-up increments, total premiums paid including top-up premiums compounded @1% or 105% of all total premiums paid is payable

    • On maturity, higher of the policy account balance or total premiums paid including top-up premiums compounded @1% is payable

    • Partial withdrawals can be made from the policy account after first 5 policy years

    • Top-up premiums can be payable

    • The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

    Eligibility Details

      Minimum Maximum
    Entry Age 18 years 60 years
    Maturity Age - 70 years
    Policy Term 10 years 15 years
    Sum Assured 7 / 10 times the annual premium
    Annual Premium Amount Rs.2400 Rs.20, 000
    Premium Payment Term 6 or 10 years
    Premium Payment Frequency Yearly, half-yearly, quarterly, monthly
  4. SBI Life Smart Income Protect 

    A participating savings plan which promises regular annual payouts. 

    This SBI Investment Plan has the following features:

    • On maturity, the vested reversionary bonus and terminal bonus, if any is paid and regular annual payouts @11% of the Sum Assured is paid for 15 years

    • The policyholder can choose to take a lump sum amount on maturity wherein 110% of the Sum Assured and vested reversionary bonus and terminal bonus, if any is paid

    • On death during the payout period post maturity, the payouts continue without any effect

    • On death before maturity, during the term, higher of the Sum Assured including the vested reversionary bonus and terminal bonus or 105% of all premiums paid till death is paid

    • Rebates in premium for choosing higher Sum Assured levels of Rs.2 lakhs and above

    • SBI Life - Accidental Death Benefit (ADB) Rider, SBI Life - Accidental Total and Permanent Disability (ATPD) Benefit Rider, SBI Life Criti-Care 13 Non- Linked Rider and SBI Life – Preferred Term Rider are available under theplan

    • The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

    Eligibility Details

      Minimum Maximum
    Entry Age 8 years 58 years
    Maturity Age 18 years 65 years
    Policy Term 7, 12 or 15 years
    Sum Assured Rs.1 lakh No limit
    Premium Payment Term Equal to policy term
    Premium Payment Frequency Yearly, half-yearly, quarterly, monthly
  5. SBI Life Smart Guaranteed Savings Plan 

    This SBI Investment Plan has the following features:

    • Guaranteed Additions @ 5.5% or 6% of the cumulative premiums paid are paid from the end of the first policy year

    • On maturity, the Sum Assured along with the cumulative Guaranteed Additions are paid

    • On death, higher of the Sum Assured along with the cumulative Guaranteed Additions or 105% of all premiums paid till death is paid

    • Loan is available under the plan up to a maximum of 90% of the Surrender Value

    • The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

    Eligibility Details

      Minimum Maximum
    Entry Age 18 years 50 years
    Maturity Age - 65 years
    Policy Term 15 years
    Sum Assured Depends on the premium
    Annual Premium Amount Rs.15, 000 Rs.75, 000
    Premium Payment Term 7 years
    Premium Payment Frequency Yearly, half-yearly, quarterly, monthly
  6. SBI Life Smart Money Back Gold 

    This SBI Investment Plan is a money back plan with the following features:

    • The SBI Investment Plan has 4 options of availing money back benefits wherein the total money back benefits paid is 110% of the Sum Assured

    • On maturity, the last instalment of the money back benefit and the vested reversionary bonus and terminal bonus, if any is paid

    • On death, higher of 7/10 times the annual premium paid along with the cumulative Guaranteed Additions or 105% of all premiums paid till death is paid

    • Rebates in premium for choosing higher Sum Assured levels of Rs.2 lakhs and above

    • SBI Life - Accidental Death Benefit (ADB) Rider, SBI Life - Accidental Total and Permanent Disability (ATPD) Benefit Rider, SBI Life Criti-Care 13 Non- Linked Rider and SBI Life – Preferred Term Rider are available under theplan

    • The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

    Eligibility Details

      Minimum Maximum
    Entry Age 14 years 55 years
    Maturity Age 27 years 70 years
    Policy Term 12, 15, 20 or 25 years
    Sum Assured Rs.75, 000 No limit
    Annual Premium Amount Rs.4500 No limit
    Premium Payment Term Equal to policy term
    Premium Payment Frequency Yearly, half-yearly, quarterly, monthly
  7. SBI Life Shubh Nivesh

    This SBI Investment Plan is a participating endowment plan with following features:

    • The plan has 3 coverage options of Endowment option, Endowment with Whole life option and Deferred Maturity Payment option

    • Under the first option, the Sum Assured and the vested bonuses is paid on maturity

    • Under the second option, the plan can be extended to cover the insured till 100 years. On maturity, the Sum Assured is paid and the plan continues. On death any time before reaching 100 years, the Sum Assured is again paid. If the insured reaches 100 years of age, the Sum Assured is again paid

    • Under the third option, post maturity, regular payouts can be received over 5, 10, 15 or 20 years post maturity

    • On death, the discounted vale of the remaining payouts is paid

    • Rebates in premium for choosing higher Sum Assured levels of Rs.1.5 lakhs and above

    • SBI Life - Accidental Death Benefit (ADB) Rider, SBI Life - Accidental Total and Permanent Disability (ATPD) Benefit Rider, and SBI Life – Preferred Term Rider are available under theplan

    • The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

    Eligibility Details of SBI Subh Nivesh

      Minimum Maximum
    Entry Age 18 years 60 years
    Maturity Age - 65 or 100 years
    Policy Term 5 years 30 years
    Sum Assured Rs.75, 000 No limit
    Annual Premium Amount Rs.6000 No limit
    Premium Payment Term Equal to policy term or Single Pay
    Premium Payment Frequency Yearly, half-yearly, quarterly, monthly
  8. SBI Life Flexi Smart + 

    This SBI Investment Plan is a variable insurance plan with following features:

    • The plan has two protection options of Gold & Platinum

    • A guaranteed bonus of 1% is paid along with regular bonus, interim bonus and terminal bonus, if any

    • The premiums paid net of charges are invested in the policy account

    • On maturity, the pokily account value is paid

    • On death, under the Gold Option, higher of the policy account balance or Sum Assured or 105% of all premiums paid till death is payable

    • Under the Platinum option, on death, higher of the policy account balance + the Sum Assured or 105% of all premiums paid is payable

    • One free partial withdrawal is allowed every year from the 6thn year onwards

    • The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

    Eligibility Details

      Minimum Maximum
    Entry Age 18 years 60 years
    Maturity Age 23 years 65 years
    Policy Term 5 years 30 years
    Sum Assured Higher of 10/7 times the annual premium or 0.5/0.25*term*annual premium 20 times the annual premium
    Annual Premium Amount Rs.50, 000 No limit
    Premium Payment Term Equal to policy term or Single Pay
    Premium Payment Frequency Yearly, half-yearly, quarterly, monthly

Benefits of SBI Investment Plans 

State Bank of India (SBI) is one of the most trusted and largest public sector banks in India. The bank offers a wide range of investment plans that cater to the diverse investment needs of individuals.

Here some of the key benefits of SBI Investment Plans.

  • Diversification: SBI Investment Plans offer a wide range of investment options that cater to the diverse investment needs of individuals. These plans allow you to diversify your portfolio across various asset classes such as equity, debt, and hybrid instruments. By investing in multiple asset classes, you can reduce your overall risk and improve your chances of generating consistent returns.

  • Flexibility: SBI Investment Plans offer flexibility in terms of investment amount, investment tenure, and investment options. You can choose the investment option that best suits your investment objectives, risk profile, and investment horizon. 

  • Tax Benefits: Some of the SBI Investment Plans offer tax benefits under Section 80C of the Income Tax Act. By investing in these SBI Investment Plans, you can not only grow your wealth but also save on taxes. This makes SBI Investment Plans a great investment option for individuals looking to save taxes while generating good returns.

  • Convenience: SBI Investment Plans offer the convenience of online investing. You can invest in these plans from the comfort of your home or office using SBI's online banking platform. This saves you time and effort, and allows you to manage your investments easily.

  • Low Cost: SBI Investment Plans offer a low cost of investment. The charges associated with these plans are minimal, which means that you get to keep a higher portion of your returns. This makes SBI Investment Plans a cost-effective investment option for individuals looking to generate good returns without incurring high costs.

Applying for SBI Investment Plans from the company

  1. Online

    The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued

  2. Intermediaries

    Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.

SBI Life Traditional Plans - FAQ

  • Q1. How to pay premium? What are the modes of payment available?

    There are 10 modes to pay your SBI Life Insurance premium namely:
    • Direct Remittance At Sbi Life Branch By Post Or Courier

    • Electronic Clearing Service (ECS) – Mandate

    • Direct Debit

    • Standing Instruction On Your Credit Card

    • Online Payments

      • Through State Bank Group Atms

      • Payment Through Visa Bill Pay.Com

      • Online Payment Of Premium Through Sbi Life Website

    • Si-Eft For State Bank And Associate Banks’ Account Holders

    • Payment Through Point Of Sales (Pos) Terminals At Select Sbi Life Branches

    • Payment Through Easy Access Mobile Application

    • Pay Premium In Cash At Authorized Collection Centers

    • Nach (National Automated Clearing House)

    NACH is a newly launched service that works on the same principle as that of ECS, which requires filling in a form and getting registered before availing this facility.

  • Q2. How can I check policy status for SBI Life traditional plans?

    In order to check SBI Life Insurance policy status for SBI Life traditional plans , login to e-portal . You need to enter customer ID, date of Birth and policy number. The details of the policy along with the status is displayed on the next screen.
  • Q3. What is the policy renewal process for SBI Life traditional plans?

    Renewal of policy can be done by the following modes:
    • Online

    • Through SMS

    • Through SBI Brach

    • By Cash

    For renewal process, after login into your account, click on the ‘Renew Policy’ tab to proceed with premium payment.

    Alternatively, you can renew the process by using the kiosk in the SBI ATM and select the option for renewal process.

  • Q4. What is the company’s process to settle claim for SBI Life traditional plans?

    The procedure for settling claim through SBI life Insurance requires intimating the nearest branch by submitting the list of documents as specified in the website. After the documents are verified, the claim is settled as soon as possible. In case one requires additional help or further clarifications, one can write to claims@sbilife[dot]co[dot]in
  • Q5. What is the policy cancellation process for SBI Life traditional plans?

    The policy cancellation process requires you to submit a duly filled surrender form along with relevant documents in the nearest SBI branch in your city. Upon receiving and verifying the documents, the policy is deemed cancelled as per bank accounts record. The premium refund is calculated on NAV value prevailing at the current market rate, if you submit the policy before 3:00 PM , else next day’s NAV value is applicable.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Average Rating
(Based on 22 Reviews)
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SBI Life Traditional Plans Reviews & Ratings

4.3 / 5 (Based on 22 Reviews)
(Showing Newest 10 reviews)
Kishore
Dalpur, September 23, 2016
Traditional Policy
The sbi life provided me the best traditional insurance policy in very low premiums. The investment is low but the paybacks are high. Coverage is good and claims can be cleared easily by taking executives and staff members services.
Bhupesh
Mumbai, August 24, 2016
Trustable
Friend of mine shown me a very fine insurance policy, after seeing the great benefits of the plan i purchased the traditional insurance plan from sbi life insurance. Policy coverage is ~90% and the premium is less. Easy renewals through online portal service which can be handled by anyone.
Tarun
Pune, April 21, 2016
Awesome
I own sbi insurance traditional plan. Plan is good and premium is low. Policy coverage is high and payback returns too. Claiming amount is Rs.39 L. Service is fast like super sonic. The daily updates are mailed to me time to time. Overall, perfect policy plan.
Umakant
Ludhiana, April 21, 2016
Perfect
My sbi life traditional policy plan is good in services. The policy coverage is good ~89% and the premiums are low. Claiming process is easy due to fast service provided by the executives and the staff members. The payback amount is ~Rs.39 L. I like the terms and conditions of the policy plan.
Gurpreet
Mohali, April 21, 2016
Great Policy
The policy i have is sbi traditional policy plan which is very good and the premiums are low with high in policy coverage 91%. The claiming part is very easy because the service is very fast with good response from the staff members. Nice future investment with tax savings.
Yuvraj
Kota, April 21, 2016
Fantastic Plan
I finally buy sbi life insurance traditional policy plan. Policy covers almost all cases and the amount of returns is around 45 L. Service provided is fast and on time. Good future investment which save taxes. Nice services facilitate by executives and staff members.
Seraj
Varanasi, March 02, 2016
i want this
it's good opertuunit for sbi cousmer
Kamal
Lucknow, February 25, 2016
above average.
I have traditional policy plan from sbi life insurance. The policy is provides good coverage with low premiums. Claims are around Rs.19 lakhs. Service always on time. Satisfactory policy plan, nice work.
Plan Name: eWealth Insurance
Agent Code: BBE04411
Amit
Delhi, February 24, 2016
Perfect Plan.
I own sbi life insurance traditional plan. Policy coverage is good returns are better. Claims are high and premiums are low. Services are fast and on time. I must say power pack policy. I'm happy and fully satisfied with it.
Plan Name: eWealth Insurance
Agent Code: BPW00249
CHIRAG
Indore, February 20, 2016
Service is good.
My traditional policy plan is with sbi life insurance. Policy coverage is fine but the premium is bit high. Claims are high ~Rs.26 lakhs. Service is the best and always on time, even daily updates are mailed to me. Okay policy plan.
Plan Name: eWealth Insurance
Agent Code: BBE04737
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