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SBI RD Scheme:If you want to increase your savings without any risk, then the RD Scheme of State Bank of India (SBI) can prove to be the perfect gift for you this Diwali. The country’s largest public sector bank, State Bank of India (SBI), is running a special Recurring Deposit (RD) scheme for its customers under “Har Ghar Lakhpati Yojana”.

In this RD Scheme, you can create a strong fund in the long run by depositing a small amount every month. And the best part? There is no risk at all because it comes with full guarantee from the bank.

If you are thinking of investing now, then this RD Scheme can give you tremendous returns. Simply, invest money in the RD Scheme of State Bank of India (SBI) in the manner mentioned below and avail the benefits.

What is SBI’s RD scheme?

This RD Scheme of State Bank of India (SBI) is actually a Recurring Deposit (RD) plan. In this, you deposit a fixed amount in the bank every month and earn good interest in return. This scheme is perfect for those who want to create a safe fund for the future by saving a little every month.

The biggest feature of RD Scheme is that there is no trace of risk in it. Your every money remains 100% safe. This is the reason why millions of people like the RD Scheme of State Bank of India (SBI) so much and keep investing in it.

SBI Har Ghar Lakhpati Scheme Tenure and Interest Rates

The maturity period of RD Scheme under “Har Ghar Lakhpati Yojana” ranges from 3 years to 10 years. Meaning, you can choose any time as per your convenience. Now talking about interest rates:

• The interest rate for a tenure of 3 to 4 years is 6.55% per annum. Senior citizens get 7.05% per annum.
• The rate is 6.30% per annum for a tenure of 5 to 10 years, and 6.80% per annum for senior citizens.

It is clear from this that the longer the investment, the higher the interest benefit. By investing money in RD Scheme for a long time, your earnings become stronger.

How much return on investment of ₹ 5000 every month?

Suppose you deposit ₹ 5000 every month in RD Scheme and choose it for 5 years. In total you will invest ₹1,80,000. According to the current interest rates of State Bank of India (SBI), you will get around ₹ 1,98,000 on maturity. That means, extra profit of ₹ 18,000

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And if you continue this for 10 years, your fund will go above ₹4 lakh. This RD Scheme is really an easy way to make every household a millionaire.