Delhi: SBI Annuity Deposit Scheme: People plan to make their future more secure through investments, but sometimes investing in the wrong place increases their problem. In such a situation, it becomes very important that you invest in the right place so that you do not face any kind of trouble. The country’s largest public sector bank State Bank of India has come up with an annuity scheme for its customers.
Features of Annuity Plan
1- Investment can be made in regular payment themes from all branches of SBI. At least twenty-five thousand rupees may have to be made in the theme of 2 years. 3- SBI employees and ex-employees can get one percent additional interest. 4-Senior voters will be given zero.5 percent additional interest.
5- Interest rates of fixed deposits will also be applicable to this scheme
6 – There is a better plan to get good returns.
7 – Overdraft/loan up to 75% of the annuity balance can be availed in special circumstances.
8 – Savings account gives better returns than an annuity scheme.
SBI Annuity Plan Awesome
An amount of 36, 60, 84, or 120 months will be invested during this theme of SBI. The interest rate on investment in this will be the same as that of the term deposit of the chosen tenure. Suppose if you deposit the fund for five years, you will get interested at the rate of interest applicable on fixed deposits for five years. Any citizen can take advantage of this scheme
If you want 10 thousand every month then how much money to invest
If an investor wants a monthly profit of ten thousand rupees, then the capitalist will have to deposit five lakh seven thousand 965 rupees and 99 paise for that. You will get a 7% fee return per unit on the deposit amount from which the capitalist can earn around ten thousand rupees monthly, so if you have a lump sum amount then don’t delay at all.
There are some rules to know if you want to invest.
There is a rule to deposit at least 1000 rupees every month in SBI’s annuity plan, but no limit has been fixed for the maximum investment. In an annuity payment, income starts after a certain amount of time by charging interest on the amount deposited by the subscriber. These schemes are very good for the future, but it is not possible for the middle class to collect that much money in one go.
Annuity Plan Vs Recurring Deposit
Generally, middle-class people lack lump-sum amounts. In such a situation, most people secure their future by investing in recurring deposits. The amount is collected through the savings made in the RD and then returned to the investor by charging interest. For this reason, recurring deposits are preferred over annuity plans among the general public.
