SBI's Popular Scheme: Make One Deposit and Earn Monthly Income – Here’s What You Need to Know!
The State Bank of India ( SBI ), the country's largest bank, offers a lucrative investment opportunity through its Annuity Deposit Scheme . This unique scheme allows customers to deposit a lump sum and enjoy a steady monthly income . Here’s everything you need to know about this enticing offering.
# Key Features of the SBI Annuity Deposit Scheme
Lump Sum Deposit for Guaranteed Returns
The SBI Annuity Deposit Scheme requires a one-time deposit, allowing you to earn a guaranteed monthly income. The scheme provides both the principal amount and interest, calculated on a compounding basis every quarter. The interest rate offered is the same as that of traditional fixed deposits (FDs).
Flexible Tenure Options
Customers can choose from various tenures for their deposits, ranging from 36 to 120 months. There’s no cap on the maximum deposit amount, while the minimum monthly annuity is set at ₹1,000. This scheme is accessible at all SBI branches across the country.
# Key Features of the SBI Annuity Deposit Scheme
Lump Sum Deposit for Guaranteed Returns
The SBI Annuity Deposit Scheme requires a one-time deposit, allowing you to earn a guaranteed monthly income. The scheme provides both the principal amount and interest, calculated on a compounding basis every quarter. The interest rate offered is the same as that of traditional fixed deposits (FDs).
Flexible Tenure Options
Customers can choose from various tenures for their deposits, ranging from 36 to 120 months. There’s no cap on the maximum deposit amount, while the minimum monthly annuity is set at ₹1,000. This scheme is accessible at all SBI branches across the country.
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