SBI New Deposit Scheme: SBI runs a scheme called ‘Har Ghar Lakhpati’. This is a recurring deposit (RD) scheme, in which common people can start investing with just Rs 593 and senior citizens with Rs 576. This scheme promises to give Rs 1,00,000 to the investor in any case. Know about this scheme.
Tenure from 3 to 10 years
This RD scheme of SBI has a tenure of 3 years to 10 years, you can choose it according to your convenience. According to the tenure, RD installment has to be paid every month and on maturity you get Rs 1,00,000. If you choose a tenure of 10 years, then common people can start investing with just Rs 593 and senior citizens with Rs 576.
Who can open an account
Any Indian citizen can invest in this scheme. The scheme offers the opportunity to invest both singly and jointly. Minors can open an account alone (above 10 years of age and able to sign clearly) or with their parents/legal guardians.
How much is the installment for how many years of RD
If you choose a 3-year RD, general people will have to pay an installment of ₹2,502 and senior citizens will have to pay ₹2,482 every month. For 4 years, general people will have to deposit ₹1,812 and senior citizens will have to deposit ₹1,793 every month. For 5 years, general people will have to pay ₹1,409 and senior citizens will have to pay ₹1,391 every month. On 6 years RD, general people will have to deposit ₹1,135 and senior citizens will have to deposit ₹1,117, on 7 years tenure, general people will have to deposit ₹940 and senior citizens will have to deposit ₹923, on 8 years tenure, general people will have to deposit ₹795 and senior citizens will have to deposit ₹778, on choosing 9 years tenure, general people will have to deposit ₹682 and senior citizens will have to deposit ₹665 and on choosing 10 years tenure, general people will have to deposit ₹593 and senior citizens will have to deposit ₹576 every month.
How much interest on RD of how many years?
On 3 and 4 years tenure, general people will get 6.75% interest and senior citizens will get 7.25% interest. On the tenure of 5 to 10 years, general people will get 6.50% interest and senior citizens will get 7.00% interest.
Understand these rules too
If for any reason 6 consecutive installments are missed, then the account will be closed prematurely and the remaining amount will be transferred to the account holder’s savings account.
