The country's largest bank is making people lakhpatis with small savings, You can save ₹1,00,000 by depositing only ₹593 every month.

If you cannot save big, then just save ₹593 every month. In today's time, this amount is so small that you will not even know when a small investment turned into a fund of ₹1,00,000.

The country's largest bank SBI, is running a scheme for its customers which guarantees investors to become lakhpatis. Therefore, the name of this scheme is 'Har Ghar Lakhpati'. This is a scheme in which whether you deposit money for 3 years or 10 years, you are sure to become a lakhpati. If you cannot save big, then just save ₹593 every month. In today's time, this amount is so small that you will not even know when a small investment turned into a fund of ₹1,00,000. Senior citizens can start with just Rs 576. Know more about this scheme here.

Monthly premium according to tenure

SBI's Har Ghar Lakhpati scheme is a recurring deposit (RD) scheme. This RD scheme has a tenure of 3 years to 10 years. You can choose it according to your convenience. Your RD installment is determined according to the tenure and you get Rs 1,00,000 on maturity. If you choose a tenure of 10 years, then common people can start investing with just Rs 593 and senior citizens with Rs 576.

How much installment for how many years of RD

On choosing 3 years of RD, common people will have to pay an installment of ₹ 2,502 and senior citizens will have to pay an installment of ₹ 2,482 every month. For 4 years, general people will have to deposit ₹1,812 and senior citizens will have to deposit ₹1,793 every month. For 5 years, general people will have to pay ₹1,409 and senior citizens will have to pay ₹1,391 every month. On 6 years RD, general people will have to pay ₹1,135 and senior citizens will have to pay ₹1,117, on 7 years tenure, general people will have to pay ₹940 and senior citizens will have to pay ₹923, on 8 years tenure, general people will have to pay ₹795 and senior citizens will have to pay ₹778, on choosing 9 years RD, general people will have to pay ₹682 and senior citizens will have to pay ₹665 and on choosing 10 years tenure of RD, general people will have to deposit ₹593 and senior citizens will have to deposit ₹576 every month.

How much interest on RD of how many years?

On 3 and 4 years RD, general people will get 6.75% interest and senior citizens will get 7.25% interest. On the tenure of 5 to 10 years, general people will get 6.50% interest and senior citizens will get 7.00% interest.

Who can open an account

Any Indian citizen can invest in this scheme. The scheme offers the opportunity to invest both singly and jointly. Minors can open an account alone (above 10 years of age and able to sign clearly) or with their parents/legal guardian.

Understand these rules too

If for any reason 6 consecutive installments are missed, the account will be closed prematurely and the balance amount will be transferred to the account holder's savings account.