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SBI Lakhpati RD: A new scheme that gives Rs. 1 lakh at a time.. Who can get it and where to get it?

Samayam | January 14, 2025 11:06 AM CST

SBI Lakhpati RD: State Bank of India has launched a new scheme that provides one lakh rupees in one go. Who can invest in SBI Har Ghar Lakhpati RD scheme to get one lakh rupees? How much should be invested? Let's know the complete details.

SBI Lakhpati RD: Do you want to become a millionaire by saving little by little? But a new scheme has become available that will give you one lakh rupees at once. State Bank, the country's largest government bank, has brought the Har Ghar Lakhpati Recurring Deposit Scheme with the aim of making its customers millionaires. The main purpose of this scheme is to save small amounts and provide Rs. 1 lakh and above . SBI has said that this scheme has been brought so that every household should have a millionaire. Among the schemes with guaranteed returns, this can be said to be the best scheme for those who want to save small amounts in installments. SBI is

currently offering 6.75 percent interest on 3-4 year maturity tenure deposits through the Har Ghar Lakhpati RD Scheme. If you choose other tenures, you will get a maximum interest of 6.50 percent. However, if, due to any unforeseen circumstances, six consecutive installments are not saved, the account will be closed. The money deposited up to that point will be returned.

How much should one invest to earn one lakh?

Let's say a general citizen opts for a 3-year tenure that offers a maximum interest rate of 6.75 percent. To earn Rs. 1 lakh, he will have to save Rs. 2,500 per month. If he opts for a four-year tenure, he will have to save Rs. 1,810 per month. If he opts for a 5-year maturity tenure, the interest rate is 6.50 percent. Accordingly, saving Rs. 1,407 per month will earn him Rs. 1 lakh.

For senior citizens above 60 years of age, a maximum interest rate of 7.25 percent is available for a tenure of 3 years. To get one lakh rupees, one needs to save Rs. 2,480 per month. For the same for 4 years, one needs to save Rs. 1791 per month. For a maturity period of 5 years, the interest rate is 7 percent. To get one lakh rupees, one needs to save Rs. 1389 per month.

This scheme is the best option for those who want guaranteed returns by saving small amounts. However, it is not the right option for those who want high returns. Such people should take the risk and invest in stock markets and mutual funds. Similarly, SBI Lakhpati RD is not the right option for those who want to withdraw their money quickly.