look news india
New Delhi/Lucknow. In today’s era where inflation is skyrocketing, saving has become a challenge for middle and lower income group families. To convert this challenge into an opportunity, the country’s largest bank, State Bank of India (SBI) has introduced its Recurring Deposit (RD) service as ‘Har Ghar Lakhpati Scheme’. This scheme is a boon for those who want to accumulate a large corpus (₹1 lakh) by investing gradually without any market risk.
Highlights of the scheme: Small savings, big fund
The biggest feature of this scheme is its affordable monthly installment. If you invest for 10 years (120 months), you will have to deposit only ₹591 to ₹593 every month. On completion of 10 years, you will get a guaranteed maturity amount of ₹1,00,000.
Key features of the scheme at a glance:
| Speciality | Description |
|---|---|
| name of the scheme | SBI Har Ghar Lakhpati Scheme (RD) |
| Monthly Deposit (for 10 years) | ₹591 to ₹593 (depending on interest rate) |
| maturity amount | ₹1,00,000 (Guaranteed) |
| interest rate (normal) | From 6.50% to 6.75% |
| Interest Rate (Senior Citizens) | From 7.00% to 7.50% |
| minimum period | 12 months to 120 months |
Why choose SBI Har Ghar Lakhpati Scheme?
This plan not only offers savings but also many additional features:
Zero Risk: The ups and downs of the stock market have no effect on it. Your money is completely protected by DICGC.
Compound Interest: In this, interest is calculated with compounding on quarterly basis, making your small savings grow faster.
Loan facility: If you suddenly need money in between, you can withdraw money from your deposit. Loan or overdraft up to 90% Can take.
resilience: You can choose a plan of 3 years, 5 years or 10 years as per your convenience.
Different investment options for ₹1 lakh:
| duration (time) | Monthly Deposit (Approx) | total maturity |
|---|---|---|
| 3 year | ₹2,502 | ₹1,00,000 |
| 5 years | ₹1,409 | ₹1,00,000 |
| 10 years | ₹591 | ₹1,00,000 |
Application Process: Become a millionaire sitting at home
SBI has made this process completely digital and simple. You can apply in two ways:
Online (SBI YONO App): * Log-in to YONO app.
Go to ‘Deposits’ section and select ‘Recurring Deposit’.
Click on ‘Start New RD’, enter the amount and tenure.
Set ‘Auto-Debit’ so that the installment is automatically deducted every month.
Offline (by visiting branch): * Visit your nearest SBI branch with Aadhar Card, PAN Card and photograph.
Fill the RD form and deposit your first installment.
Important tips:
Auto-Debit Mode: Always opt for auto-debit so that installments are not missed and penalties are avoided.
For Senior Citizens: If there is an elderly person in your house, open an account in their name. Them 0.50% additional interest Due to which his monthly installment will be even lower (about ₹ 576).
conclusion: This scheme of SBI is the safest investment for those who want to create a corpus of ₹1 lakh for future goals (like children’s education or marriage) while keeping their hard-earned money safe.
