- SBI RD Scheme 2025 allows you to save small amounts and accumulate up to ₹1 lakh.
- Monthly contribution of just ₹591 can lead to significant financial gains.
- This scheme promotes good saving habits for better financial future.
SBI presents its Recurring Deposit (RD) program through the ‘हर घर लखपति स्कीम’. This exceptional scheme enables individuals to build substantial savings by depositing small amounts regularly. With this initiative, you can invest just ₹591 every month to collect a total of ₹1 lakh over a span of 10 years. This scheme is designed with the broader aim of encouraging saving habits among the public and empowering them financial stability.
Key Features of SBI RD Scheme 2025
This scheme comes with remarkable advantages:
- Minimum Investment: Start your savings with just ₹591 each month.
- Flexible Tenures: Choose between 3 to 10 years as per your convenience.
- Attractive Interest Rates: Earn 6.75% for regular citizens and 7.25% for senior citizens.
- Accessibility: Open for all age groups, including minors over the age of 10.
How SBI RD Scheme Works
Under the SBI RD scheme, participants are required to deposit a fixed amount monthly. The bank provides interest on these deposits, compounding quarterly, which maximizes your return upon maturity. This framework allows individuals to gather a hefty sum with relatively small monthly contributions.
Interest Rates
Under this scheme, the bank provides diverse interest rates:
- Regular citizens: 6.75% for tenures of 3-4 years, and 6.50% for duration beyond that.
- Senior citizens: 7.25% for 3-4 years, and 7.00% for longer terms.
Investment Process and Benefits
To enroll in this scheme, you can visit any SBI branch or use the online net banking/mobile banking application to open an RD account. While the minimum deposit starts from ₹100, it is encouraged to contribute ₹591 as per this special scheme. This initiative not only aids in enhancing your savings but guarantees rewarding returns at maturity.
Advantages of Investing in SBI RD Scheme
The SBI ‘हर घर लखपति स्कीम’ offers numerous benefits:
- Safe Investment: Operated by India’s largest public sector bank ensuring credibility.
- Guaranteed Returns: Offers fixed interest rates aiding users in financial goal fulfillment.
- Flexible Duration: Choose a duration of 3 to 10 years based on need.
- Habit Formation: Encourages regular saving practices.
Documents Required for Investment
To invest in this scheme, you need the following documents:
- Aadhaar card
- PAN card
- Bank account details
- Address proof
For further details and to apply, you can visit the official website of SBI at SBI Official Site.