Create a strong future with State Bank’s new savings schemes

Every House Lakhpati: State Bank of India (SBI) has introduced two new schemes for its customers. These schemes are specifically designed for lower-middle-class families, people looking to boost savings, and the elderly. first plan “Every house is a millionaire” Which encourages regular savings to meet future financial needs. second plan, SBI Patrondesigned keeping in mind senior citizens above 80 years of age.

Come, let us know about both these schemes in detail.

Har Ghar Lakhpati Yojana: Target to save one lakh or more

This scheme is for those customers who want to build a big fund in the long run by saving small amounts regularly.

Key Features of the Scheme:

1. Goal-Based Savings:
   • The objective of the scheme is to give customers the option to deposit amounts of Rs 1 lakh or in multiples thereof.
   • It is also ideal for developing the habit of saving among children and youth.
2. Incentive of Regular Deposit:
   • A plan to meet long-term financial goals with small monthly contributions.
   • Suitable for families planning for future needs such as education, marriage, or buying a house.
3. Financial Planning Training:
   • This scheme helps customers in teaching disciplined savings and financial management.

Benefit:

• Build large capital through regular savings.
• Ideal savings option for low income group people.
• The first step towards financial freedom.

SBI Patron: High interest rate scheme for the elderly

SBI Patron Scheme Exclusively 80 years and older Has been prepared for senior citizens.

Key Features of the Scheme:

1. High interest rates:
   • Attractive interest rates on fixed deposits for senior citizens.
   • This scheme is available to both new and existing customers of SBI.
2. Long Term Financial Security:
   • The scheme gives the benefit of additional income to senior citizens at this stage of their life.
   • Ideal for ensuring financial stability in old age.
3. Objective of SBI:
   • SBI has designed these schemes to maintain its leading position in the market and support the financial goals of customers.
   • The bank aims to empower more and more customers through innovation and technology.

Benefit:

• Assurance of regular income.
• Safe and profitable investment option for senior citizens.
• Opportunity to live a financially independent life.

Other schemes of SBI: Best option for senior citizens

1. SBI V-Care Deposit Scheme:

• This scheme is for a period of 5 to 10 years.
• Interest Rate: Senior citizens get 7.5% interest rate on this scheme.

2. SBI 444 Days FD Scheme:

• Senior citizens on this fixed deposit scheme Interest rate of 7.75% Is available.
• the scheme 31 March 2025 Available till.

Vision of SBI Chairman

SBI Chairman CS Shetty Is said:

“We are creating goal-based financial products that will not only enhance our financial returns but also realize the dreams of our customers. We want to empower every customer by bringing innovation into the realm of traditional banking and contribute to India’s journey to become a developed nation by 2047.”

How to take advantage of these schemes?

1. For Har Ghar Lakhpati Yojana:
   • Apply by visiting the nearest SBI branch.
   • Choose the amount and tenure for your monthly savings plan.
2. For SBI Patron Scheme:
   • Senior citizens can apply to the bank with proof of their age and other required documents.
   • Get information about fixed deposit period and interest rates from the bank.