This system from SBI gives a lot of interest, invest money once, then you earn every month sitting at home

New Delhi. The State Bank of India is considered to be the most trusted bank in the country. Most people invest their savings in the various schemes. These systems are considered better for safe investments and guaranteed returns. If you are also looking for a system where you can earn regular fixed income after a one-off investment, then SBI’s Annuity Deposit Scheme may be a good option for you.

Let us tell you that in this system from SBI you have to deposit a lump sum. After that, every month there is a guaranteed income with interest. With SBI’s annuity deposit system, the customer receives interest along with the principal each month. The compounding of interest is calculated quarterly on the amount paid into the account.

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How much money can be deposited?
According to the information available on SBI’s official website, you will earn more interest on the amount deposited in the Annuity Deposit Scheme than on the savings account. Explain that in this scheme the same interest rate is available on the deposit as is available on the bank’s time deposit, i.e. FD. There is no maximum deposit limit in this system. At the same time, the minimum deposit must be made according to the monthly pension at least Rs 1000. The bank will also issue you a Universal Passbook. Investments under this program can be made for 36, 60, 84 or 120 months.

There is also an overdraft facility
In this system, the pension is paid from the due date in the month following the deposit. If that date is not in a month, the annuity will be received on a date in the next month. The annuity is paid after deduction of TDS and credited to the linked savings or checking account. This scheme by SBI was created to fully meet your needs even in the event of an emergency. If necessary, you can overdraw up to 75% of the remaining amount of the pension.

How do you invest in a pension system?
If you would like to invest in SBI’s Annuity Deposit Scheme, you can register by going to any branch near you. This scheme is available in all SBI branches. The system account can also be transferred from one branch of the bank to another branch. There is an individual nomination option available. This account can be an individual or joint account. This system can be closed early in the event of the depositor’s death.

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