Customers can earn up to Rs 10,000 per month with SBI’s new scheme

On Feb 16, 2021

New Delhi: Investment is a best option to earn returns, however, many times people find it difficult to select the best investment scheme as it is important to invest in the right place. State Bank of India (SBI) has come up with an innovative option for its customers where they can invest their money without any hassle.

If you are planning to invest your accumulated capital to get a certain amount of return with the security of your capital then you must know about the Annuity plan of SBI.

SBI provides certain kinds of schemes in which monthly income is received after a certain period.

SBI is considered the most trusted bank in India. It also provides an option to save the fixed deposit and public provident fund to all the customers. By investing in SBi schemes one can earn Rs 10,000 every month.

ANNUITY SCHEME OF SBI

In this scheme of SBI, investment can be done for 36, 60, 84, or 120 months. In this, the interest rate on the investment will be the same, which will be for the term deposit for the chosen period.
For example, if you deposit your fund for 5 years then you will get the interest according to the interest applicable over the fixed deposit of 5 years.

HOW CAN YOU EARN 10,000 PER MONTH?
If you want to earn 10,000 per month then you need to deposit 5,07,964 You will get the return on the deposited amount with a 7 percent of the interest rate. If you are planning to invest then SBI is providing you the best option to increase your future wealth.

In SBI’s annuity scheme a minimum annuity of 1000 can be deposited in the monthly annuity. There’s no limit or highest level is decided in the scheme of SBI. In the process of an annuity payment, the customer starts receiving interest on the deposited amount after some time.

RECURRING DEPOSIT SCHEME

Middle-class people mostly invest in recurring deposits to save their money at a secure place. In the recurring deposit, with the help of small savings, a decided amount is being deposited and after the policy gets mature you get your deposited amount with interest. It is considered to be the safest method of getting interest returns.