SBI's scheme proves to be a profitable deal???
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From the point of view of investment, in today's era, the trend of people for long-term investment is increasing. In such a situation, if you want to make a one-time investment, then SBI's Annuity Deposit Scheme can prove to be a profitable deal for you. Under this, you have to invest money only once and you will get returns with interest every month.
What is the investment age?
People below 18 years of age can also invest in this scheme. In this scheme, the account can be opened either as a single account or a joint account, the interest rate on investment will be the same as for the term deposit of the chosen tenure.
What is the profit method?
Talking about the benefits of this scheme of state bank, first, you have to deposit the investment amount in one go and after a few months, the bank gives money to the customers every month in the form of installment. The bank gives this installment by calculating the interest of the principal. In this scheme, the customers get the interest by calculating the compounding for three months.
Rules of the scheme
In SBI's annuity scheme, there is a rule for the investor to deposit a minimum of Rs 1000 every month, but no limit has been fixed for the maximum investment. Let us tell you that you can invest in Annuity Scheme from all branches of SBI. sbi employees and ex-employees get 1% more interest. At the same time, senior citizens will get 0.5 percent more interest and the interest rates of a term deposit will be applicable on this scheme as well.
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