The RD scheme of SBI “Har Ghar Lakhpati” is making lot of buzz across nation. The plan developed by India’s largest public sector bank State Bank of India (SBI), converts small pockets of emoney into big money and makes it easy to create wealth.

Save Monthly, Earn ₹1 Lakh in 3 Years

The scheme is as simple as that — invest a fixed sum every month and at maturity get a single lump sum that would be a combination of principal & interest. You can actually save ₹2,500 a month on target to build up a crore (ie ₹1 lakh) as per the pattern. Or if you go for a 10-year duration, yes you can also meet the same objective by putting aside ₹591 pm.

Flexible terms from 3 -10 years suit short term and long-term financial goals alike in scheme. If you are saving for a child´s education a personal goal or even for an emergency fund in this program will likely match most household budgets.

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Attractive Interest Rates, Especially for Seniors

Regular investors get a healthy interest rate of 6.75% per Annum from SBI. For senior citizens the interest is further improved to a much better compounding rate of 7.25% per annum, so it’s clear that this is going to be better investment for retirees who seek rewards and at the same time safe. In due time, this higher rate will greatly increase the maturity amount.

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Eligibility for All, Including Children

An uniqueness of the scheme is that it is inclusive. Anyone over the age of ten can have an account. For children under younger children, parents or guardians are setting up the account which makes it simple means of building up financial discipline and good savings habits earlier.

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How to Start with the SBI Har Ghar Lakhpati RD Scheme

Enrolment is easy. Go to an SBI branch, select your rate of maturity and start putting your monthly contributions. The bank will automatically compute your instalments as per the current rates

It is not a mere saving scheme, rather a rising trend which empowers people to start saving and ideally grow their wealth stress-free. Sit back relax and always read the small print, invest carefully. SBI will enable you to grow your Big Dreams from the small savings