Are you looking for a secure and systematic way to save money and build wealth? The SBI Lakhpati RD Scheme, also known as the ‘Har Ghar Lakhpati’ plan, allows retail investors to accumulate significant savings through recurring deposits (RD). With disciplined monthly investments, you can generate up to ₹10 lakh in a fixed period. Let’s explore how this scheme works, interest rates, and monthly investment calculations.
🔹 What is the SBI ‘Har Ghar Lakhpati’ RD Scheme?
The SBI Har Ghar Lakhpati RD Scheme is a special recurring deposit plan that enables investors to save regularly and earn a lump sum at maturity. This plan is designed for individuals who want to create wealth systematically while benefiting from competitive interest rates and compounded returns. Key highlights of the scheme:
- Monthly investment starts at less than ₹600.
- Tenure options range from 3 to 10 years.
- Interest is compounded quarterly.
- Higher interest rates for senior citizens.
- Provides safe and guaranteed returns as an SBI-backed scheme.
✅ SBI RD Scheme Maturity Period & Interest Rates
The scheme allows you to choose from different maturity periods, ranging from 3 years to 10 years. Interest rates depend on tenure and investor category (senior citizen vs. non-senior citizen).
🔸 SBI RD Interest Rates (as of 2024)
| Tenure | Senior Citizens | Regular Investors |
|---|---|---|
| 3 & 4 years | 7.25% | 6.75% |
| 5+ years | 7.00% | 6.50% |
💰 How to Accumulate ₹10 Lakh with SBI RD Scheme?
The monthly investment required to reach ₹10 lakh depends on tenure and interest rate. Below is an estimated calculation based on the current interest rates.
🔹 Monthly Investment for Non-Senior Citizens
| Tenure | Monthly Deposit | Interest Rate |
| 3 years | ₹25,020 | 6.75% |
| 4 years | ₹18,120 | 6.75% |
| 5 years | ₹14,090 | 6.50% |
| 10 years | ₹5,930 | 6.50% |
🔹 Monthly Investment for Senior Citizens
| Tenure | Monthly Deposit | Interest Rate |
| 3 years | ₹24,820 | 7.25% |
| 4 years | ₹17,930 | 7.25% |
| 5 years | ₹13,910 | 7.00% |
| 10 years | ₹5,760 | 7.00% |
📌 Note: The calculations above are based on current SBI RD interest rates. Visit your nearest SBI branch for an exact investment amount based on your target savings.
📢 Who Should Invest in SBI ‘Har Ghar Lakhpati’ RD Scheme?
This scheme is ideal for individuals who: ✔️ Want a safe and guaranteed investment option. ✔️ Prefer a disciplined savings approach. ✔️ Aim to accumulate a lump sum fund over time. ✔️ Seek higher returns than traditional savings accounts. ✔️ Are retired individuals or senior citizens looking for steady savings growth.
🏦 How to Open an SBI Recurring Deposit Account?
Starting an SBI RD account is simple: 1️⃣ Visit the nearest SBI branch or apply online through SBI Net Banking. 2️⃣ Submit KYC documents (Aadhaar, PAN, Address Proof). 3️⃣ Choose the deposit tenure (3 to 10 years). 4️⃣ Set up an auto-debit option for hassle-free monthly deposits. 5️⃣ Receive your RD account details and deposit certificate.
🎯 Conclusion: Why Choose SBI Lakhpati RD Scheme?
SBI’s ‘Har Ghar Lakhpati’ RD Scheme is a secure and effective way to build long-term wealth. With disciplined monthly investments, you can accumulate ₹10 lakh or more while enjoying competitive interest rates and guaranteed returns. 📌 Final Tip: If you want a safe, hassle-free investment option, SBI RD is a perfect choice! Start early and invest consistently for maximum returns. 💰📈
💬 Have questions about the SBI RD Scheme? Drop them in the comments below! 😊
