State Bank of India: State Bank of India (SBI) has come up with a special facility for your child, through which you can create a huge fund for your child’s education or marriage. You can make a fat fund of Rs 1 crore by investing Rs 1 lakh. Let us tell you about two special schemes of State Bank, through which you can make your child a millionaire.
1. This plan is available for
Apart from education, the facility of SBI Life-Smart Champ Insurance Plan is provided for the education of the children by the customers of SBI. Through this plan, you can earn Rs 1 lakh to Rs 1 crore. In this, you get the option of monthly, quarterly, half-yearly, and annual options.
Money starts getting from 18 years, in
In this, you can invest for a child of 0 to 13 years. Whereas, its maturity period is 21 years. Also, when your child turns 18, you get 25% share in this plan. Whereas, the remaining amount is received at the age of 19, 20, and 25 percent at the age of 25-25.
2. What is the name
Under the scheme, the facility of the Life-Smart Scholar Plan is provided by SBI to its customers. It is a type of individual, unit-linked, non-participating, life insurance plan. In this, you can invest for children of 0 to 17 years. The maturity period of this scheme is between 18 to 25 years.
There is also the facility for partial withdrawal
You can invest in this plan for a minimum of 8 years and a maximum of 25 years. The age of the parents taking the plan should be between 18 to 57 years. The specialty of this plan is that you can also make partial withdrawals in it.
Visit the official link
apart from this, you get the benefit of an accident. Whereas, for more information, you can visit the official link https://www.sbilife.co.in/.
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