On depositing 10 thousand rupees, you will get ₹ 16,89,871 after so many years
New SBI RD Scheme: It is important for everyone to invest and get good returns on it. For this, the RD scheme of State Bank of India can be the best option. SBI helps you in this direction with its various savings and investment schemes. This is a bank which gives its investors full guarantee of security along with good returns.
New SBI RD Scheme
RD is also known as recurring deposit. This is an investment option in which you have to deposit money regularly every month. In this scheme, you get interest on deposit (New SBI RD Scheme), which keeps getting added to your deposited money and at the end of the scheme period, you get the entire money back along with the principal and interest.
You can start investing with 100 rupees
In the RD scheme of State Bank of India, you can open an account by visiting the nearest bank branch or with the help of online. Talking about investment after opening the account (New SBI RD Scheme), you can start investing in this scheme with only Rs 100. And if we talk about maximum investment, it can be any amount, you can invest as much as you want. This account can be opened for 1 year to 10 years, in which you are given good interest as compared to other banks.
This much interest is being given
If an applicant wants to invest in RD scheme (New SBI RD Scheme), then it is important for him to know about the interest rate. If you deposit the amount for 1 to 2 years, then you will be given 6.8% interest rate by the bank. After this, 7% interest rate will be available on RD account of 2 to 3 years.
Similarly, 6.5% interest rate is offered on 3 to 5 year deposit. And finally, 6.5% interest rate is available on deposit period of 5 years to 10 years. But senior citizens get a little more interest than common citizens.
Deposit 10 thousand and get 17 lakh rupees
After knowing about the interest rates, now let\’s talk about the return on this, so the bank will give you a return of Rs 17 lakh on depositing 10 thousand every month, let\’s know how. Like if an applicant invests 10 thousand rupees in his RD account every month, then the deposit amount becomes ₹ 1,20,000 in a year. Similarly, you have to continue investing for 10 years. After which an amount of Rs 12,00,000 gets deposited in your account.
After this, with the help of a calculator, after 10 years of maturity, you will get a total amount of Rs 16,89,871 (about 17 lakhs). Out of which you will earn only from interest. The special thing about the RD scheme (New SBI RD Scheme) is that after starting investing, if you need money in any way, then you can also take an overdraft loan. However, you have to keep in mind that if you do not deposit money for 6 months continuously, then your account will be closed.
