You can invest in SIP in case of financial crunch in future or to meet your expenses. SIP means Systematic Investment Plan. If you do not want to invest directly in the stock market then SIP is the perfect option for you. In SIP a fixed amount has to be deposited at every regular interval. Know here how a fund of Rs 20 lakh can be deposited through SIP with a monthly deposit of Rs 25 thousand.

How to make Rs 20 lakh, this is the calculation

According to the calculation, you will have to invest Rs 25,000 every month. This means you will invest Rs 3 lakh in 1 year. You will have to make this monthly investment for 5 years. That means you will invest a total of Rs 15 lakh in SIP for 5 years. Now suppose you get 12% annual return on investment. Keep in mind, you also get the benefit of compounding on interest. That means you can earn interest on interest also.

According to the calculation

You will get a total interest of Rs 5,62,159 on SIP investment. At the time of maturity, you will get the investment amount and interest amount together, which will be ₹ 20,62,159.

Keep in mind, to earn profits in SIP, you are advised to invest for a long time. Stock market fluctuations can affect your SIP returns. Before following this plan, please consult your financial advisor.

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The special thing about this business is that after starting it, you can earn up to Rs 75 thousand every month. In this business you have to make disposable glasses made of paper. There is a huge demand for disposable glasses and plates in the country.

Many people are earning a good amount of money through disposable cups and plates. After the plastic ban, the demand for glasses and plates made from paper disposal has increased significantly in the country. In such a situation, there are many hidden earning possibilities in this business.

To start this business of making paper disposable glasses, you have to install small and big machines. If you want to make small disposable glasses made of paper. In such a situation, you can install a smaller machine.

If you take a big machine. In such a situation, with its help you can make disposable glasses made of paper of various sizes. To buy a small machine, you will have to spend around Rs 1 to 2 lakh. After purchasing the machine you have to start production. Raw material has to be purchased before starting production. In this you have to buy paper reel.

If you do not have money, you can start this business by taking a loan under the Mudra Scheme of the Government of India. If your business runs well, then through this you can earn up to Rs 75 thousand every month.

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If you start it thoughtfully and in a planned manner. In such a situation, his chances of being successful increase significantly. In this series, today we are going to tell you about a very wonderful business. In this business you have to do gold fish farming. By doing gold fish farming you can earn up to Rs 2 lakh every month.

Many people keep gold fish in their homes. Gold fish is associated with good luck. Gold fish are sold in the market at a very expensive price. In this episode, let us know about this business in detail –

If you want to start this business. In such a situation, it will cost you around Rs 1 lakh to Rs 2.50 lakh to start it. To start the business, you will have to buy a 100 square feet aquarium. You will get an aquarium in the market at a cost of around Rs 50 thousand. You will have to spend Rs 50 thousand to buy other things.

To do gold fish farming, you will also need seeds. Before buying seeds, you should know that the ratio of male and female should be 4:1. The fish will be ready to sell after 4 to 6 months of sowing the seeds. By farming these fish you can earn around lakhs of rupees every month.

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Apart from this, SBI is offering a new scheme Sarvottam (SARVOTTAM) in retail term deposit, which is for 1 year and 2 year tenure. The best scheme is non-callable term deposit. That is, pre-mature withdrawal cannot be done in this scheme. Whereas, in the best scheme, to get 40 basis points more interest, the deposit should be more than Rs 15 lakh and less than Rs 2 crore.

According to the SBI website, customers can make deposits in Sarvottam (Non-Callable) Domestic Retail Term Deposits for tenures of 1 year and 2 years. In this, regular customers will get 7.1 per cent interest per annum and senior citizens will get 7.6 per cent per annum interest on 1-year deposit.

At the same time, for a period of 2 years, the regular customer will get 7.4 percent annual interest and senior citizens will get 7.90 percent annual interest. The interest rates of this scheme of the bank are applicable from 17 February 2023.

How much interest on ₹ 20 lakh deposit

According to SBI FD Calculator, depositing 20 lakhs for 2 years in the best scheme will fetch Rs 23,15,892 on maturity. In this way, in 2 years, only interest will earn Rs 3,15,892. Whereas, senior citizens will get Rs 23,38,728. In this, there will be an income of Rs 3,38,728 only from interest.

SBI increased deposit rates in February

SBI increased the interest rates on Fixed Deposits (FDs) of different maturities last month. SBI has increased interest rates by up to 0.25 per cent on deposits of less than Rs 2 crore. The new deposit rates of the bank (SBI FD Interest Rate 2023) have come into effect from 15 February 2023. Along with making loans costlier on behalf of banks, interest rates on deposits are also being increased. Earlier, SBI had increased the interest rates on FD on 13 December 2022.

The post SBI’s launched Dhansu scheme: Good news! Earn only ₹ 3.38 lakh from interest in 2 years on ₹ 20 lakh deposit, know details first appeared on Rightsofemployees.com.