SBI has launched the “Har Ghar Lakhpati” scheme, which is a recurring deposit scheme. General customers can start investing with ₹593, while senior citizens can start with ₹576. At the end of the term, they will receive ₹1 lakh. This scheme is ideal for those looking for safe and guaranteed returns.

The tenure for this SBI scheme ranges from 3 years to 10 years. Customers can choose the tenure based on their financial goals and make monthly deposits accordingly. Those who choose a 10-year tenure can start investing with ₹593.

Any Indian citizen is eligible to invest in the ‘Har Ghar Lakhpati’ scheme. Both single and joint accounts can be opened, and minors aged 10 years and above can open an account either independently or with a guardian. Wondering how much investment is required per month to get ₹1 lakh in the Har Ghar Lakhpati Scheme? Here’s the calculation.

Har Ghar Lakhpati Scheme: Interest Rates and Investment Breakdown

  • 3-year RD:
    • General Citizen: ₹2,502
    • Senior Citizen: ₹2,482
  • 4-year RD:
    • General Citizen: ₹1,812
    • Senior Citizen: ₹1,793
  • 5-year RD:
    • General Citizen: ₹1,409
    • Senior Citizen: ₹1,391
  • 6-year RD:
    • General Citizen: ₹1,135
    • Senior Citizen: ₹1,117
  • 7-year RD:
    • General Citizen: ₹940
    • Senior Citizen: ₹923
  • 8-year RD:
    • General Citizen: ₹795
    • Senior Citizen: ₹778
  • 9-year RD:
    • General Citizen: ₹682
    • Senior Citizen: ₹665
  • 10-year RD:
    • General Citizen: ₹593
    • Senior Citizen: ₹576

Interest Rates in the Har Ghar Lakhpati Scheme

  • For 3 and 4 years:
    • General Citizens: 6.75%
    • Senior Citizens: 7.25%
  • For 5 to 10 years:
    • General Citizens: 6.50%
    • Senior Citizens: 7.00%

Important Rules for the Scheme

  • If you miss paying your installments for 6 consecutive months, the account will be closed, and the funds will be transferred to your savings account.
  • If you continue to pay regularly, you will receive ₹1 lakh at the end of the term.