SBI RD Scheme Explained: Turn ₹610 Monthly Into ₹10 Lakh Savings

When it comes to safe and stress-free investing, State Bank of India (SBI) continues to be the first choice for millions. As the country’s largest public sector bank, SBI has earned long-standing trust by putting customer benefits first. Among its many savings options, one scheme stands out for people who want to build a secure future with small, regular savings, the SBI RD ‘ Har Ghar Lakhpati ’ Scheme.

A simple way to build wealth

SBI’s Recurring Deposit (RD) scheme is designed for investors who prefer discipline over risk. Instead of investing a large sum at once, you save a fixed amount every month and watch it grow steadily. The biggest attraction is that even a modest monthly deposit can turn into a sizeable amount over time, making long-term goals much easier to achieve.

Attractive returns with flexibility

Under the Har Ghar Lakhpati RD scheme, SBI currently offers interest rates of up to 7.05% for senior citizens, which is higher than what regular customers receive. The tenure is flexible, starting from 3 years and going up to 10 years, allowing investors to choose a period that suits their financial plans.

Turn small savings into ₹1 lakh

This scheme proves that you don’t need a big income to create a big corpus. If you invest ₹610 every month for 10 years, your total savings can grow to ₹1 lakh at maturity. It’s an ideal option for salaried individuals, first-time investors, or anyone who wants to save without feeling the pinch.

Who can invest?

The Har Ghar Lakhpati scheme is open to all Indian citizens aged 18 and above. Parents can also open an RD account for children below 10 years of age. If the child is over 10, a joint account with parents can be opened, making it a great way to start financial planning early.

Why this scheme works

With government backing, steady returns, and the habit of monthly saving, SBI’s Har Ghar Lakhpati RD scheme offers a simple yet powerful way to secure your future. It’s proof that consistent saving, even in small amounts, can lead to meaningful financial stability over time.