SBI FD Scheme- The country’s largest public sector bank, State Bank of India, is running a special RD scheme for its customers. In this, customers can create a huge fund by investing a very small amount every month. Its name is ‘Har Ghar Lakhpati’ scheme. Now SBI has announced a 0.20 percent cut in the interest rates offered in this lakhpati making scheme. This means that customers will now have to invest a little more money every month than before.
After the reduction in interest rates, now general citizens will get a maximum of 6.55 percent interest and senior citizens will get a maximum of 7.05 percent annual interest. In this, by depositing Rs 610 every month for 10 years, you will have a fund of Rs 1 lakh.
Know what is ‘Har Ghar Lakhpati’ scheme
‘Har Ghar Lakhpati’ is a special recurring deposit (RD) scheme. Under this scheme, you can arrange one lakh or more rupees by depositing small amounts every month. You can use it like a piggy bank. This means that you keep putting a fixed amount in it every month when you get your salary and when it matures, you will have a big amount in your hand. The maturity period of Har Ghar Lakhpati usually lasts from 3 years to 10 years. This means that you can invest for 3 years to 10 years.
Maturity period and interest
On choosing a maturity of 3 years, general citizens get 6.55 percent interest and senior citizens get 7.05 percent interest. On choosing a maturity of 4 years, general citizens get 6.55 percent interest and senior citizens get 7.05 percent interest. On choosing a maturity of 5 years, general citizens get 6.30 percent interest and senior citizens get 6.80 percent interest. Even if 10 years maturity is chosen, general citizens get 6.30 percent interest and senior citizens get 6.80 percent interest.
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 capable of signing clearly) or with their parents/legal guardians.