The State Bank of India (SBI) offers several savings schemes to help individuals build financial security. One of these popular options is the Recurring Deposit (RD) Scheme, commonly known as the SBI Lakhpati Scheme.
Under this scheme, any individual can easily participate in a regular savings plan by investing small portions of their income every month. Over time, these small savings can grow into a fund worth several lakhs of rupees.
This scheme is especially beneficial for people who want to save for important future goals while earning attractive interest rates. The SBI Lakhpati Scheme is both safe and profitable, making it a reliable choice for long-term investors.
SBI Lakhpati Scheme
The SBI Lakhpati Scheme is designed to suit people with different income levels. The minimum and maximum limits are set based on the investor’s financial capacity.
Investors can save consistently for a fixed tenure without any interruptions or external influence.
Before joining the scheme, it is important to understand all the details and terms to ensure a smooth investment process without confusion.
SBI Har Ghar Lakhpati Scheme 2025 Overview
| Introduced By | State Bank of India (SBI) |
| Scheme Name | SBI Lakhpati Scheme |
| Country | India |
| Eligible | All SBI customers |
| Interest Rate | 6.50% to 7.50% |
| Duration | 3 to 10 years |
| Frequency | Monthly |
| Category | Latest News |
| Official Website | https://sbi.co.in/ |
Rules of the SBI Lakhpati Scheme
SBI has set the following main rules under this savings plan:
- The scheme is available only for Indian residents.
- The minimum deposit tenure is 3 years, and the maximum is 10 years.
- Any person above 10 years of age can open an account under this scheme.
- Monthly deposits are mandatory.
- The selected deposit amount at the time of opening must be invested every month without fail.
SBI Lakhpati Scheme Interest Rates
The interest rates for the SBI Lakhpati Scheme vary for regular customers and senior citizens.
According to current SBI guidelines:
- General citizens earn an annual interest rate between 6.50% and 6.75%.
- Senior citizens receive a slightly higher rate of 7.25% to 7.50%.
The applicable rate may vary based on the investment amount and period.
Features of the SBI Lakhpati Scheme
Some of the main features include:
- Easy and well-structured monthly savings process.
- Open to both men and women.
- Safe and reliable investment option with attractive returns.
- Minimum deposit required to keep the account active is ₹593 per month.
SBI Lakhpati Scheme Calculation
For general citizens, to accumulate around ₹1,00,000 in 10 years, one needs to deposit approximately ₹600 per month.
For senior citizens, a monthly deposit of around ₹585 for 10 years is sufficient to build a similar corpus due to the higher interest rate. For exact figures and personalized plans, investors can visit their nearest SBI branch.
How to Open an SBI Lakhpati Scheme Account
The account opening process for this scheme is offline. Here’s how to do it:
- Visit your nearest SBI branch.
- Go to the savings schemes counter and ask for details about the Lakhpati Scheme.
- Collect the application form and fill it with the required personal details.
- Attach the necessary documents for verification.
- Submit the form and documents to the branch officer.
- After verification, your account will be activated, and you can start your monthly deposits.
FAQs
How much TDS is deducted in the SBI Lakhpati Scheme?
If the investor’s annual interest income exceeds ₹40,000, TDS of 10% is applicable.
What happens if the amount is withdrawn before maturity?
If you withdraw before the completion of the scheme’s tenure, a penalty may be charged.
What is the main objective of the SBI Lakhpati Scheme?
The scheme aims to help individuals develop a habit of systematic monthly savings and accumulate a corpus of ₹1 lakh or more over time.
