New Delhi, June 29. To secure your future, it is very important for anyone to invest in that option which gives you stable returns over a long period of time. Sometimes people invest in wrong places. Then later they have to repent. In such a situation, it is important to know and understand the right place to invest. Today we are going to tell you a plan in which you should consider investing. Through SBI’s annuity scheme, you will get monthly income after a certain period of time. You can earn up to Rs 10000 per month by investing in this scheme.
For how many months will you have to invest
You can invest in SBI’s annuity scheme for a tenure of 36, 60, 84 or 120 months. In this, the rate of interest on the investment for the chosen tenure will be the same as that on the Fixed Deposit (FD). That is, if you choose a tenure of 36 months, then you will get the same interest as on SBI’s FD of 36 months.
How to get Rs 10000
If you want to get Rs 10,000 every month then you have to deposit Rs 5,07,964. You will get an interest rate of 7 percent on this amount deposited by you. With this you will start getting Rs 10,000 every month. A minimum of Rs 1,000 can be deposited every month in SBI Annuity Scheme. There is no maximum investment limit in this plan. In annuity payment, interest accrues on the amount deposited by the customer after a certain period of time.
They will get more interest
Explain that in SBI’s annuity scheme, SBI employees and SBI pensioners are given 1 percent more interest than the applicable interest rate. However, the bank will deduct TDS on the interest earned. SBI Annuity Scheme is also very good for senior citizens in terms of investment. This is because senior citizens are heavily dependent on interest income.
Know the other benefits of the scheme
According to the SBI website, the minimum deposit amount should not be less than Rs 25,000 in any case. You can transfer the account opened under this scheme to the branch of the bank. You can be given an overdraft/loan up to 75% of the annuity balance in special circumstances. For more details you can visit the given link (https://sbi.co.in/web/personal-banking/investments-deposits/deposits/annuity-deposit-scheme).
RD is also a better option
RD is also a good option if you cannot invest a large sum of money in an annuity scheme of SBI. In RD, you have to deposit a little money every month. SBI offers RD of minimum 12 months and maximum of 120 months. SBI also provides loan facility on RD. You can also transfer your RD account to any other branch. One can invest in RD as low as Rs 100 and then in multiples of Rs 10.
