SBI Launches Two New Deposit Schemes — ‘Har Ghar Lakhpati’ & ‘SBI Patrons’: Here’s What You Need to Know
The SBI has introduced two exciting new deposit schemes designed to make saving easier and more rewarding for its customers. The new schemes, ‘Har Ghar Lakhpati’ and ‘SBI Patrons’, offer unique features to help you achieve your financial goals and earn attractive returns.
Let’s break down these schemes in simple terms so you can understand how they work.
Har Ghar Lakhpati: A Smart Way to Save and Grow Your Money
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The ‘Har Ghar Lakhpati’ scheme is a recurring deposit (RD) plan that helps you save up to Rs 1 lakh or even more. It’s ideal for people who want to save for a specific goal, like buying a car or funding a trip, and need a clear plan to do so.
Here’s the good part — you can choose how long you want to save. The minimum tenure is just 12 months (1 year), and the maximum is 120 months (10 years). The best part is that it’s a pre-calculated scheme, which means the bank helps you figure out how much you need to save every month to reach your goal. It’s a great way to stay on track with your savings!
SBI Patrons: Special Benefits for Senior Citizens
The ‘SBI Patrons’ scheme is designed especially for senior citizens aged 80 and above. If you are in this age group, you get extra benefits in the form of higher interest rates, helping you grow your savings even faster.
This scheme is available to both new and existing customers who meet the age requirement. SBI values its long-standing relationship with senior customers and wants to offer them a more rewarding savings option.
Interest Rates for Both Schemes
SBI has also announced some attractive interest rates for these schemes. If you choose the ‘SBI Patrons’ deposit, you’ll earn an extra 0.10% in interest compared to regular senior citizen fixed deposit rates.
The interest rates for the ‘Har Ghar Lakhpati’ scheme will be similar to the fixed deposit rates.
Here’s a quick look at the current interest rates for fixed deposits:
1 year or more: 6.80%
2 years or more: 7.00%
3 years to less than 5 years: 6.75%
5 to 10 years: 6.50%
These rates are competitive, which means you’ll earn solid returns on your savings.
SBI Chairman’s Message
CS Setty, Chairman of SBI, shared his thoughts on the new schemes: “We want to offer products that help our customers achieve their financial goals while also giving them great returns. Our goal is to make banking more inclusive and impactful, using innovation and technology to provide the best solutions for our customers. We are also committed to helping India’s growth journey as we aim to become a developed nation by 2047.”
Final Thoughts
With these two new deposit schemes, SBI is making it easier for everyone — from individuals looking to save for specific goals to senior citizens wanting better returns on their savings.
Source- (With inputs from PTI)
For More Details Visit — SBI Official Page.
