Annuity Deposit Scheme: You will get Rs 12000 every month as EMI, know the scheme details

By now you must have heard about taking a loan from the bank, why have you heard it, you may have taken it as well. But in the scheme that we are going to tell today, instead of taking a loan from the bank, you have to give a loan to the bank, in return for which you will get fixed income in the form of EMI.

Under this scheme, customers will get a fixed amount every month. With this scheme, customers can also use their savings as monthly income. Customers can see SBI Annuity Deposit Scheme i.e. Annuity Deposit Scheme (SBI annuity deposit scheme). In this scheme, the investor has to deposit a lump sum amount. After a fixed period, there will be guaranteed income in the form of EMI ie monthly installment.

According to the official website of SBI, you can get a fixed amount every month by making a one time deposit. This amount includes the principal amount and the interest received on it. This interest is calculated on compounding every quarter on the balance amount in the account. According to the website of SBI, the same interest is available on the deposit in this scheme, which is available on the bank’s term deposit i.e. FD (Fixed Deposit). So let’s know about it in detail.

For how many months can deposits be made

in this scheme of SBI, annuity will be paid from the scheduled date in the next month of deposit. If that date is not there in any month (29, 30 and 31), then annuity will be received on a date of the next month. Universal passbook is issued to the customer in the scheme. In this, deposits can be made for 36, 60, 84 or 120 months.

This scheme is available in all branches of SBI. There is no limit of maximum deposit in this. At the same time, the minimum deposit will have to be made at least Rs 1000 according to the monthly annuity.

You can take 12000 rupees every month,

suppose if you invest 6 lakh rupees in the scheme, then every month you will get 10 to 12 thousand rupees in the form of easy installment. Annuity will be paid after deducting TDS and credited to linked savings account or current account. In SBI Annuity Deposit Scheme, common customers and senior citizens get the interest they get on term deposits. Individual nomination facility is available in this. The account of the scheme can be transferred from one branch of the bank to another branch.