The first name that comes to mind when it comes to investing your hard-earned money without any hassle is the world’s largest bank, SBI (State Bank Of India). Despite the temptation of hundreds of private financial institutions or banks across the country, customers have put their trust in this government bank. State Bank never compromises on the issue of customer benefits. The country’s largest public sector bank has a savings scheme where you can save a lakh rupees at the end of the term by saving a small amount of money every month. The most important thing is that with this SBI scheme, the customer can secure his own and his family’s future financially.
SBI’s Tough Scheme
India’s largest bank, SBI, has several customer saving schemes. Among those schemes, the preferred scheme of investors is the RD scheme or the ‘Har Ghar Lakhpati’ scheme of State Bank of India. Let us first say that under this scheme of SBI, senior citizens get a maximum interest of 7.05 percent from ordinary customers.
The most interesting thing is that by saving a small amount of money every month in this scheme, the customer can become the owner of a lot of money at the end of the term. In that case, if someone deposits Rs 610 every month in this scheme, he will become a millionaire within 10 years. It is worth noting that the tenure of this scheme ranges from 3 years to a maximum of 10 years.
Become a millionaire by depositing Rs 610 per month
State Bank of India’s Monthly Savings Scheme or RD or Har Ghar Lakhpati Scheme is the best for those who want to earn big money after saving a small amount. Let us say that under this scheme, if someone invests Rs 610 every month for the next 10 years, he will get Rs 1 lakh at the end of the tenure.
Who is eligible to invest in this scheme?
To deposit money in State Bank of India’s Har Ghar Lakhpati Scheme, a person must be a citizen of India. Secondly, he must be 18 years of age. However, if someone is 10 years younger or older, then the parents of that child can open an account in the name of the child and save money. If the child is over 10 years old, parents can open a joint account and deposit money in this scheme.