SBI Annual Deposit Scheme: SBI is the largest bank in the country. This is the reason why State Bank of India keeps bringing new schemes for its customers from time to time. Today we are going to give you information about a very good scheme of SBI. Whose name is SBI Annuity Deposit Scheme. Once you invest money in this scheme, you get a fixed amount every month.
What is SBI Annuity Deposit Scheme?
In SBI Annuity Scheme, you have to invest money only once and in return you are given a good fixed amount every month.
SBI Annual Deposit Scheme Interest Rate
In SBI Annuity Deposit Scheme, the interest rate which you get in SBI’s FD scheme, you will get the same interest rate in this scheme also. In this scheme you will get interest rate from 6.50% to 7.50%. The good thing about this scheme is that if you invest money in this scheme from the month of February, then you will start getting money from the month of March.
Eligibility for SBI Annual Deposit Scheme
- Any citizen of India can invest money in this scheme.
- There is no age limit of any kind in this scheme.
- In this scheme, you can open an account either single or joint.
- You will get more interest from SBI’s savings account.
- In this scheme of SBI, you get higher interest rate as compared to savings account. In this scheme you get the same interest rate which you get in fixed deposits.
- In this scheme, you will get the same interest rate at the time of opening the account.
How much investment and how much amount will be received
If you invest Rs 15 lakh in this scheme, you will get Rs 29,349 every month for 5 years at 6.5% interest and if you invest Rs 100000 in this scheme, you will get Rs 1956 every month for 5 years. The more money you invest, the more money you will get every month in the form of interest.
SBI Annual Deposit Scheme
The investment period in SBI Annuity Deposit Scheme has been kept as 3 years, 5 years, 7 years or 10 years. In this you can choose the plan as per your convenience. In this scheme you can also deposit Rs 1,000 and there is no maximum limit, you can also apply for loan in this scheme.
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