If you are also thinking of investing in such a place where your money is safe as well as can get a certain return. So SBI gives customers the option of saving from Fixed Deposit (FD) to Public Provident Fund (PPF).
New Delhi. One always wants to invest his deposited capital in such a place, in which his money is safe and at the same time he can get a certain return. But sometimes investing in the wrong place creates problems instead of profit. In such a situation, it becomes very important that you invest in the right place. Today we are telling you about some such schemes where you should consider investing. With these schemes, you start getting monthly income after a certain period of time. We are telling you about SBI’s annuity plan.
The country’s largest bank State Bank of India (SBI) is one of the safest options. SBI gives its customers the option of saving from Fixed Deposit (FD) to Public Provident Fund (PPF). You can earn money every month by investing in some schemes of the bank. So let’s know about these savings schemes…
SBI’s Annuity Scheme
: This scheme of SBI can be invested for a period of 36, 60, 84 or 120 months. The interest rate on investment in this will be the same as for term deposits for the chosen tenure. Suppose if you deposit funds for five years, then you will get interest at the same rate of interest applicable to fixed deposit for five years. Everyone can take advantage of this scheme.
A minimum of Rs 1000 can be deposited for monthly annuity in SBI’s annuity scheme. There is no limit on the maximum investment in this. In annuity payment, interest starts accruing after a certain period of time on the amount deposited by the customer. These plans are very good for the future.
Recurring Deposit (RD) Schemes
Generally middle class people secure their future by investing in RDs. In RD, a fixed amount is deposited every month through small savings and a fixed amount is received along with interest on maturity. Recurring deposit is very much liked among common people.
