SBI Scheme- The country’s largest public sector bank SBI has launched a new scheme for its customers, named ‘Har Ghar Lakhpati’. This is a recurring deposit or RD scheme. Through this, an investor can accumulate a large fund by making small savings every month. Senior citizens are going to benefit even more from this, because they are going to get more interest than ordinary investors.
Small savings and big fund
This scheme has been launched especially keeping in mind those investors who are planning to raise a big fund by depositing a fixed amount every month in this Har Ghar Lakhpati RD Account. The maturity period of this RD scheme is 3 to 10 years. It means that in this scheme of SBI, investors can invest money from a period of 3 years to 10 years. Small savings are given to the investor as a big amount along with interest on maturity. Which can be used to fulfill the education or other needs of children.
Even a 10-year-old child can open an account
Talking about the age limit for opening an account in the ‘Har Ghar Lakhpati’ scheme, anyone from children to senior citizens can easily open an account in this scheme. If we look at the terms and conditions of the scheme, children of 10 years and above who can sign their name are eligible, while accounts of younger children can be opened with parents or legal guardians.
Talking about the interest rate on investment in this special RD scheme of SBI, it varies according to the customers and maturity period. In fact, the common investor is being offered 6.75 percent interest in this scheme, while senior citizens are being given a whopping 7.25
How you can raise 1 lakh rupees
Let us tell you that State Bank has started this scheme with the objective that people can raise a big fund by making small savings every month. If an investor wants to raise 1 lakh rupees and he chooses a maturity of 3 years, then he will have to save 2,500 rupees per month for three years. In this case, he will get 1 lakh rupees on maturity including interest.
Now suppose the customer selects a maturity period of 10 years, then he will have to invest only Rs 591 every month. The monthly installment to be paid by the customer in SBI Har Ghar Lakhpati RD Scheme will be calculated on the basis of the interest rate applicable at the time of opening the account. Customers can open an account in this scheme by visiting their nearest SBI branch.
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