Indians want to invest their money wisely to make good profits. One option they consider is the SBI Annuity Deposit Scheme.
In this scheme, you put a lump sum of money into it at once. Then, you receive some of that money back every month, along with interest on the remaining amount.
Here are some key points about this scheme
1) You can choose to invest for 3 to 10 years.
2) The minimum amount you can deposit is Rs 1000, and there’s no maximum limit.
3) The interest rate you’ll get is similar to what you’d get with a Fixed Deposit (FD).
4) If you withdraw your money early, there may be penalties, just like with FDs.
However, if the depositor passes away, or for special reasons like education or marriage, you can withdraw early or get a loan.
That’s the basic idea of the SBI Annuity Deposit Scheme!
