SBI Annuity Deposit Plan: This scheme of SBI is more useful, once you have deposited money, you will earn every month

SBI Annuity Deposit Plan: There is good news for State Bank of India (SBI) customers. By depositing the money only once, you can earn it every month. Once you deposit a large sum in the SBI Annuity Deposit Plan, you will earn it every month. According to information provided on the SBI website, customers will be paid by EMI with the money deposited. Tell us about SBI Annuity Deposit Plan

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Qualification

The person must be an Indian citizen. Minors can also take advantage of the project. This includes opening a joint and single account.

Amount of deposit

The project will cost at least Rs 25,000. You can deposit as much as you want.

Time limit

Funds can be deposited for 3 years, 5 years, 7 years and 10 years with the SBI Annuity Deposit Scheme.

Interest rate

SBI FD / Term Deposit applies the same interest rate on this scheme. That is, the interest rate of SBI FD is the same as that of the SBI annuity deposit scheme. Currently, SBI FD is receiving 5.40% interest rate on 5 year to 10 year deposits. At the same time, SBI is offering 5.30% interest on FDs of more than three years and less than five years.

Senior Citizens

An additional 50 basis points are being offered to senior citizens. At the same time, SBI staff and pensioners get one per cent extra interest.

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