SBI New Deposit Schemes: State Bank of India (SBI) has recently launched two new deposit schemes—Har Ghar Lakhpati And SBI PatronsThese schemes aim to provide better savings and investment options to small investors and senior citizens. These schemes were launched on 3 January 2025.
Har Ghar Lakhpati: Har Ghar Lakhpati RD Scheme
this one Recurring Deposit (RD) There is a scheme in which a capital of Rs 1 lakh or more can be created by making small savings every month.
Key Features of the Scheme:
- Minimum Contribution:
- General Citizen: Starting from Rs 591/month.
- Senior Citizen: Rs 574/month.
- Tenure: Between 3 to 10 years.
- Interest Rate:
- General Citizen: 6.50%-6.75%.
- Senior Citizens: 7.00%-7.25%.
- Staff: 7.50%-7.75%.
- Senior Citizen Staff: 8.00%-8.25%.
- Penalty:
- Rs 1.5/month per Rs 100 in RDs with tenure up to 5 years.
- Rs 2/month per Rs 100 in RDs with tenure above 5 years.
- If payment is not made for 6 consecutive months the account will be closed.
- Advance Payment Option: If prepayment is made, the maturity value will not be affected.
Calculation of interest rate and monthly deposit (for ₹1,00,000 maturity):
| period (years) | ordinary citizen | senior citizen | staff | senior citizen staff |
|---|---|---|---|---|
| 3 | ₹2,500 | ₹2,480 | ₹2,460 | ₹2,441 |
| 4 | ₹1,810 | ₹1,791 | ₹1,772 | ₹1,753 |
| 5 | ₹1,407 | ₹1,389 | ₹1,370 | ₹1,352 |
| 6 | ₹1,133 | ₹1,115 | ₹1,097 | ₹1,079 |
| 10 | ₹591 | ₹574 | ₹559 | ₹543 |
SBI Patrons: Special FD scheme for senior citizens
SBI has issued a notification for those aged 80 years and above. Super Senior Citizens This term deposit scheme has been started for.
Key Features of the Scheme:
- Interest Rate:
- Senior citizens will get 0.10% additional interest on existing rates.
- input range:
- Minimum: ₹1,000.
- Maximum: ₹3 crore.
- Tenure: From 7 days to 10 years.
- Pre-Mature Withdrawal:
- For withdrawal of money before maturity, penalty equal to normal FD will be applicable.
Why take advantage of these schemes?
- Small Savings, Big Capital:
- Under the Har Ghar Lakhpati scheme, a capital of Rs 1 lakh or more can be created from small savings.
- Additional benefits to senior citizens:
- Under SBI Patrons Scheme, Super Senior Citizens will get the benefit of additional interest and flexible tenure.
- Easy Terms and High Interest Rates:
- Both the schemes are beneficial for general customers and senior citizens.
How to apply?
- Visit SBI Branch:
- Application can be made by visiting any SBI branch.
- Online Application:
- Apply through SBI official website or mobile app.
- Required Documents:
- Aadhar Card, PAN Card, and Bank Account details.
