SBI: State Bank of India (SBI) is the largest public sector bank in the country. SBI is offering the best saving scheme to its customers. SBI also provides security to its customers along with good returns in its schemes. SBI is offering Annuity Deposit Scheme to its customers.
SBI: State Bank of India (SBI) is the largest public sector bank in the country. SBI is offering the best saving scheme to its customers. SBI also provides security to its customers along with good returns in its schemes. SBI is offering annuity deposit scheme to its customers.
In this, income is earned in monthly income installments (EMI). EMI can be availed by depositing money once in SBI’s annual deposit scheme. This scheme is also called monthly annuity installment. In this, the period of deposit is 3, 5, 7, or 10 years. Interest is available on this. This scheme is a good opportunity for you to earn extra income.
SBI annual deposit scheme
Under SBI Annuity Deposit Scheme, customers have to deposit money together in the bank. SBI will pay this money in equal installments. These EMIs include basic money and a part of interest. Interest in this scheme is charged quarterly. In this, there is a discount in returns every month.
Features of SBI Annual Deposit Scheme:
1. Investment in this scheme can be made in any branch of SBI in India.
2. The minimum investment amount in this scheme is Rs 1,000.
3. There is no upper limit on the maximum deposit amount for this scheme.
4. One can make nominees to receive returns from SBI Annuity Deposit Scheme in your absence.
5. Investors will have to deposit the money together, after which they will get payment every month. Returns include principal amount and interest.
6. You will receive the return on the 1st of the next month.
7. Investors will get the passbook of this scheme.
8. One can choose the deposit period between 36, 60, 84 or 120 months.
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