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SBI Recurring Deposit Scheme: If you are looking for a scheme in which your money remains safe and keeps growing day by day, then it will be right for you to invest in SBI Recurring Deposit Scheme. Actually, this scheme is being run by State Bank of India.

State Bank of India keeps bringing one better scheme after another for its customers. There are many popular schemes in this bank, one of which is Fixed Deposit Scheme and the other is Recurring Deposit Scheme. By investing in this scheme, you get up to 7 percent interest.

In SBI RD Scheme, an investor can invest for 1 year, 2 years, 3 years, 4 years or 5 years as per his convenience. But here you are provided interest according to the period. If you want to invest in SBI Bank scheme, then read the article till the end. Interest will be given based on the period
In SBI Recurring Deposit Scheme, you can invest for a minimum of 1 year and can keep the money deposited for a maximum of 10 years. If an investor deposits money for 1 year, then he is given 6.80 percent interest.

Apart from this, 7 percent interest is provided on depositing money for 2 years. If a person wants to deposit money for 3 years, then he is given interest at the rate of 6.75 percent.

If a person deposits money in SBI Bank Scheme for 4 years, then he is given interest at the rate of 6.75 percent. Apart from this, interest up to 6.50 percent is given on investing for 5 years.

What are SBI RD schemes

You can start investing in SBI RD Scheme 2024 with just Rs 100. Apart from this, you can deposit money for a minimum period of 1 year and a maximum period of 10 years.

If you delay making monthly payments, you may be charged a penalty. Apart from this, the account holder can transfer the SBI RD account to another branch.

How to open account in SBI Bank

If you want to invest in this scheme, then you have to go to the nearest branch of State Bank of India and get the RD Scheme Account Form from there.

After this, you have to fill all the information asked with details and attach the necessary documents with the form. Now you have to make the payment and submit the form.

On depositing 6 thousand rupees, you will get 1 lakh 54 thousand 920 rupees

If an investor wants to invest in State Bank of India RD Scheme, then he is told the calculation through SBI RD Calculator.

If you invest 6 thousand rupees every month for 2 years, then you will have to invest 1 lakh 44 thousand rupees in these 2 years. After this, you will get the full amount of 1 lakh 54 thousand 920 rupees on maturity.