This SBI Annuity Scheme Helps You Earn Rs 10,000 per month


To secure your future, it is very important to invest in things that would give you a long-term and steady return. Oftentimes, people invest in the wrong places only to regret it later. In such cases, it is important to know and understand the right place to invest. 

Today, we are going to tell you about a scheme that you should consider investing in. Through the SBI Annuity Scheme, you can start getting monthly income after a certain time. The SBI annuity deposit scheme is suited for those individuals who are keenly looking forward to obtaining monthly income that is fixed. The scheme is a monthly income investment but with a twist. In the SBI Annuity Deposit, the investor gets a regular monthly income but nothing is paid to the investor on maturity.

What is Annuity Deposit?

Under this scheme, a lump sum amount is deposited by a customer which is repaid to the customer over a period in equated monthly installment which comprises part of the principal amount and interest on the reducing principal amount as well. Using the scheme customer can have a fixed monthly amount against his one-time deposit. Payment will start on the anniversary date of the month. If the date is non-existent (29th, 30th, and 31st), it will be paid on the 1st day of next month.

Also, Read This: State Bank of India To Buy 5 percent Stake In Cashfree At An Undisclosed Amount

How Much To Deposit To Earn a Monthly Income of Rs 10,000?

If an investor wants to earn a monthly income of Rs 10,000 every month, then they will have to deposit Rs 5,07,964. On the amount deposited, he will get a return from the interest rate of 7 percent, which is around Rs 10,000 every month.

Minimum Deposit For The Scheme

A minimum of Rs 1,000 can be deposited in the SBI annuity scheme every month. There is no limit for maximum investment in this. In an annuity payment, the interest starts on the amount deposited by the customer after a fixed time. This scheme can be invested in for a period of 36, 60, 84, or 120 months.

Recurring Deposit vs SBI Annuity Scheme 

In the Recurring deposit account, the customer makes the payments in installments and receives the maturity amount at maturity date while the Annuity deposit accepts a one-time deposit and that amount plus interest on reducing principal is repaid to the customer in installments over the tenor selected by him/her.




Please enter your comment!
Please enter your name here