Invest in SBI’s ‘Har Ghar Lakhpati’ scheme: By depositing ₹ 610 every month, you will get ₹ 1 lakh, see special things related to it.

State Bank of India i.e. SBI is running a special Recurring Deposit (RD) scheme ‘Har Ghar Lakhpati’. Under this scheme, you can arrange one lakh or more rupees by depositing small amounts every month. In this, maximum 6.55% annual interest is being given to general citizens and maximum 7.05% annual interest is being given to senior citizens.

‘Har Ghar Lakhpati’ is a special recurring deposit (RD) scheme. Under this scheme, you can arrange one lakh or more rupees by depositing small amounts every month. In this, by depositing Rs 610 every month for 10 years, your fund of Rs 1 lakh will be ready.

First of all understand what is RD? Recurring Deposit or RD can help you in saving big. You can use it like a piggy bank. Meaning, you keep putting a fixed amount in it every month when your salary comes and when it matures, you will have a huge amount in your hand. The maturity period of every household millionaire usually lasts from 3 years to 10 years. That means you can invest for 3 years to 10 years.

You can invest even for more than Rs 1 lakh In Har Ghar Lakhpati Yojana, you can also choose a target of more than Rs 1 lakh. You can also invest in this by setting a target of Rs 2, 3 and 4 lakh etc. The amount of your installment is decided according to the target amount you set.

Who can invest in it

• Any Indian citizen can invest in this scheme.
• Individuals can open a single or joint account.
• Parents (guardians) can open an account with their child (above 10 years of age and able to sign properly).
• For children below 10 years of age, a joint account can be opened with a parent or legal guardian.

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