Har Ghar Lakhpati Yojna: It is an investment scheme run by State Bank of India which has been launched especially for savers. This scheme is especially for small investors so that they can easily save money and get a big fund. Under this scheme, with a monthly income savings of less than ₹ 600, investors can get a fund of ₹ 1,00,000 or more in 10 years. This scheme provides the facility of fixed returns without any risk.
In today’s article, we will give you detailed information about Har Ghar Lakhpati Yojana. Such as how this scheme works, what is its interest rate, how you can become a lakhpati with it, what are the maturity options etc. Apart from this, we will also give you complete information about Har Ghar Lakhpati Yojana.
What is Har Ghar Lakhpati Yojana?
State Bank of India has started a special scheme called Har Ghar Lakhpati Yojana for savers. This is a recurring deposit (RD) scheme in which you can get big benefits with monthly savings of less than Rs 600. Under this scheme, an interest rate of 6.75% is offered for general customers and 7% for senior citizens. This scheme gives investors an opportunity to make big savings by making small investments. In this scheme, the bank gives you compound interest on a quarterly basis, which makes your savings grow rapidly.
Interest Rate
Under the Har Ghar Lakhpati scheme, different interest rates have been fixed for the general public and senior citizens. This scheme applies an interest rate of 6.75% for the general public for a period of 3 and 4 years and 6.50% for the remaining period, while for senior citizens, this scheme has fixed an interest rate of 7.25% for a period of 3 and 4 years and 7% for the remaining period.
Har Ghar Lakhpati Yojana Maturity Options
The maturity period under this scheme has been fixed from 3 years to 10 years. Customers can choose the maturity period while opening their RD account. At the same time, if you want to close your account before the maturity period, then you will have to pay some penalty for this.
- Eligibility for Har Ghar Lakhpati Yojana
- Any resident of India can take advantage of this scheme.
- Customers can open a single or joint account in it.
- If desired, parents can also open an RD account for their child above 10 years of age.
How to apply for Har Ghar Lakhpati Yojna?
- First of all go to the nearest SBI branch.
- Now request to open an RD account for Har Ghar Lakhpati.
- Submit documents like identity card, address proof and passport size photo in the branch.
- After opening the account, invest the money by paying the prescribed monthly deposit amount.