SBI RD Scheme: By depositing a very small amount, you will get a return of Rs 3.54 lakh in 5 years!

SBI RD Scheme: Hello friends, State Bank of India has introduced a scheme for all Indian citizens under which a return of Rs 3.5 lakh is being received in 5 years by depositing a very small amount. This scheme has been introduced by State Bank of India especially for the poor and needy families. The name of this scheme of SBI is SBI RD Scheme.

Today we are going to discuss in detail how you will get a return of Rs 3.54 lakh in parcel under the State Bank of India RD scheme. So to know the complete information, all of you will have to read this post till the end.

Interest rate on SBI RD scheme

We are going to discuss how much interest will be received under this RD scheme of State Bank of India. For example, if a common man/person invests money in this scheme for only 1 year, then he will be given an interest of 6.8%.

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If the same senior citizen invests money for 1 year, then 7.3 percent interest will be given. Along with this, 7% interest rate on investing for 2 years and 7.50 percent interest rate is being provided to the senior citizen under this scheme.

And if you invest money for 3 to 4 years, you will get 6.50% interest rate while senior citizens will get 7% interest rate and if a normal person deposits money for 5 years and 10 years, he will be given 6.5% interest rate while senior citizens will be given 7% interest rate.

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Know the features of the scheme

We are going to give all the features of State Bank of India Recurring Deposit Scheme:-

• Minimum ₹100 can be deposited in this scheme.
• You will be able to deposit maximum unlimited money.
• Apart from this, facility of investing from one year to 10 years has been made available.
• Zero.50% additional interest rate is provided to the general citizen.
• The option of nominee has also been included in it by the government.
• If you need money, you will be able to take a loan based on the money you have invested.
• About 90% of the money can be availed as loan.
• If you accidentally forget to make payment for 1 month, the bank will impose a penalty on you.

How to get Rs 3.54 lakh in SBI RD scheme?

We are going to discuss how the return of Rs 3.5 lakh will be given in this RD scheme of State Bank of India. First of all, you all have to deposit ₹ 5000 every month. This amount needs to be deposited continuously for 5 years. And if we consider it this way, the amount deposited in 5 years will be ₹ 300000 which will be your investment amount.

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After this, if 6.50% interest rate is given on the deposited amount in one year, then you will get back only the interest amount of Rs. 54957. Whereas on maturity, the amount will be Rs. 354957. In this way, you will get Rs. 3 lakh 54 thousand 957 in 5 years.