New Delhi: The country’s government bank SBI or State Bank of India is providing various services to its customers. This includes investment planning. By joining these schemes you can get returns without any risk. SBI offers annual deposit plans to its customers. You can earn regular income by joining it. This scheme is especially suitable for senior citizens. But there are also Senior Citizen Savings Scheme, Post Office Monthly Income, LIC Annuity Scheme.
According to the information, SBI Annual Plan is better than these. Most fixed income products pay only regular interest. Pays the investment amount after maturity. A portion of the amount invested in SBI Annual Plan is paid with interest. Both are offered to the customer together. In simple language, it can be said that it is EMI model.
For example, if you think that you have invested Rs.10 lakhs. If you expect to get money for the next 10 years. Then find out how much you can get every month. Currently the interest rate on SBI Non Cumulative Fixed Deposit is 7.5 percent. Payments are made every three months.
That is Rs 18,750 for three months. You will get around 6250. After 10 years, SBI will refund you the full amount. 10 lakhs will be given to you. Apart from this, let’s see what benefits can be availed by joining SBI Annual Plan.