SBI New Deposit Schemes: SBI, the country’s largest bank in the public sector, has launched two new deposit schemes. These two schemes are – Har Ghar Lakhpati and SBI Patrons. The bank launched this scheme on Friday, January 3. ‘Har Ghar Lakhpati’ is an RD scheme that helps in building capital up to Rs 1 lakh or its multiples. According to the current interest rate, common people can make a capital of Rs 1 lakh in 10 years by saving just Rs 591 every month, while senior citizens can save Rs 574. Whereas SBI Patrons is a term deposit scheme which has been started for super senior citizens aged 80 years and above.
Har Ghar Lakhpati, SBI’s new RD scheme
According to the details available on the SBI website, you can deposit money in the ‘Har Ghar Lakhpati’ scheme for a period of three to 10 years. In this, a capital of more than one lakh rupees can be created by making small savings every month. However, if money is not deposited in the account in any month, penalty may be imposed. For RDs with a tenure of 5 years or less, there will be a penalty of Rs 1.5 per Rs 100 per month, and for RDs with a tenure of more than 5 years, there will be a penalty of Rs 2 per every Rs 100. However, this may change from time to time. On the other hand, if payment is made in advance, it will not affect the maturity value. If installments are not paid continuously for six months, the account will be closed and the money in it will be sent to the savings bank account linked to it. A calculation of the interest rate and the amount to be deposited every month for the maturity amount of Rs 1 lakh is given below.
| period (years) | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| common people | 6.75% | 6.75% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% |
| senior citizen | 7.25% | 7.25% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% |
| staff | 7.75% | 7.75% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% |
| Senior Citizen Staff | 8.25% | 8.25% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% |
Calculation of monthly deposit for maturity amount ₹ 1,00,000
| period (years) | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| common people | ₹2,500 | ₹1,810 | ₹1,407 | ₹ 1,133 | ₹938 | ₹793 | ₹680 | ₹591 |
| senior citizen | ₹2,480 | ₹1,791 | ₹1,389 | ₹1,115 | ₹921 | ₹776 | ₹663 | ₹574 |
| staff | ₹2,460 | ₹1,772 | ₹1,370 | ₹1,097 | ₹903 | ₹759 | ₹647 | ₹559 |
| Senior Citizen Staff | ₹2,441 | ₹1,753 | ₹1,352 | ₹1,079 | ₹886 | ₹742 | ₹631 | ₹543 |
SBI Patrons, SBI’s new and special FD scheme
SBI Patrons has been launched for super senior citizens aged 80 years and above. Under this scheme, they will get 0.10 percent more interest on term deposits than senior citizens. In this, you can deposit a minimum of Rs 1 thousand and a maximum of Rs 3 crore and the deposit period is from 7 days to 10 years. However, if you withdraw money before maturity, you will have to pay a penalty equal to a normal term deposit.
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