Today we discuss the Annuity Deposit Scheme of SBI. One of the biggest lenders in the public sector, the State Bank of India, provides the general public with a range of programs. With the Annuity Deposit Scheme of the State Bank of India, you can make a lump sum deposit and receive regular payments that cover the main interest that has accrued on the declining principal amount that is kept with the bank. Additional known as monthly annuity installments. The terms of the deposits are 3, 5, 7, or 10 years. For the same length of time, the interest rate is the same as that of a term deposit.