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News Short Desk: Nowadays everyone wants to get a certain amount of income every month from wherever they invest. And for this reason, apart from the post office, many banks in the country also offer this facility to customers.

From which customers get a fixed amount of money every month. At the moment , State Bank of India is widely popular as the government bank of our country . Some of its own schemes are also run by this bank. Where customers can earn a fixed amount of money every month after investing.

Many people benefit financially from this monthly income. Today I will tell you about such a profitable scheme of SBI Bank.

What is SBI Bank's Annuity Deposit Scheme?

In the State Bank of India's own fixed deposit scheme, if one invests money in a lump sum for a fixed period, then he will be paid a fixed amount by the bank every month. The name of this scheme of SBI Bank is SBI Annuity Deposit Scheme (SBI Annuity Deposit Scheme).

Why are FD and SBI Annuity Deposit Scheme different?

SBI Annuity Deposit Scheme and FD Scheme are completely different. Because if you invest money in a fixed deposit scheme for a fixed period, you get the money back only after the maturity. In this case, the interest paid by the bank is also added to the total investment money.

But SBI Annuity Deposit Scheme requires an initial investment for a fixed period of time. After the investment, the bank will pay a fixed amount every month. In this case, both the amount invested and the interest earned are the same. In this case the bank pays installments on the invested amount every month but after the maturity of the scheme both the investment amount and the interest become zero.

If someone wants to earn 10 thousand rupees per month by investing in this scheme, then in this case he has to invest 5,07,964 rupees. As a result, you can earn 10,000 rupees per month from the bank. But this amount is available only till the maturity of the scheme. However, no amount is available when the scheme matures.