SBI की Regular Income वाली स्कीम | Annuity Deposit Scheme 2023 | Investment Plan for Monthly Income

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In this video of Josh Money, we will be talking about SBI Annuity Deposit Scheme.
SBI Annuity Deposit Scheme channelizes savings of a person to get regular monthly income. Investors can deposit their savings in a lump sum to get monthly income over a fixed tenure. This जोश Money video covers the SBI Annuity Deposit Scheme, its features and frequently asked questions about the scheme in detail.
SBI Annuity Deposit Scheme is a scheme that enables investors to use their savings to get regular income. In this scheme, an investor can invest in a lump sum and receive Equated Monthly Instalments (EMI). The EMI includes both the principal and interest. The interest is compounded quarterly and discounted to the monthly EMI value. Also, the rate of interest will be as per SBI rules and norms.

All resident individuals, including minors, can invest in this scheme through single or joint accounts. The minimum deposit amount should not be less than INR 25,000. There is no limit on the maximum amount of investment in the SBI Annuity Deposit Scheme. Investors can choose from the available tenure options, which are 36, 60, 84 or 120 months. Moreover, investors can take a loan against their SBI annuity deposit scheme. However, it is granted only for special cases.

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SBI’s Annuity Deposit Scheme 2023: A Smart Investment Plan for Monthly Income

When it comes to planning our finances for the future, one thing that comes to mind is how to ensure a steady source of income, even after retirement. SBI, one of the largest banks in India, has come up with an excellent solution for this – the Annuity Deposit Scheme 2023.

What is the Annuity Deposit Scheme?

The Annuity Deposit Scheme, also known as SBI’s Regular Income Scheme, is a fixed deposit scheme that offers a monthly income to investors. It is designed to help individuals secure a stable income flow, especially during their retirement years, and provides a reliable investment option with attractive interest rates.

How does it work?

Under this scheme, investors need to deposit a lump sum amount of capital with a specified minimum deposit, which is currently set at Rs.25,000. The investment term ranges from 3 years to 10 years, and investors can choose the duration as per their preference. The interest rate varies based on the term selected, with longer tenure options offering higher interest rates.

Once the investment period ends, investors start receiving monthly interest payouts, which can serve as a great source of regular income. The payout is made in the form of both principal and interest, which ensures that the investor’s deposited amount is steadily returned over the tenure of the scheme.

Benefits of the Annuity Deposit Scheme

1. Monthly income: The primary benefit of this scheme is the regular monthly income it provides. This is particularly advantageous for individuals who rely on a steady cash flow to meet their financial commitments post-retirement.

2. Attractive interest rates: The interest rates offered by the Annuity Deposit Scheme are compelling, especially when compared to traditional savings account interest rates. This ensures that investors can maximize their returns while maintaining stability and safety.

3. Flexibility in tenure: Investors have the freedom to choose the duration of the scheme that suits their needs best. This flexibility allows individuals to align their investment plan with their financial goals effectively.

4. Eligibility for loans: One notable advantage of this scheme is that it allows investors to avail loans against their deposit. This can be extremely helpful in times of financial emergencies, as it offers a way to withdraw funds without breaking the deposit prematurely.

5. Tax benefits: The interest earned through this scheme is subject to taxation, as per the applicable income tax regulations. However, investors can take advantage of tax exemptions by investing under the Senior Citizen Savings Scheme (SCSS). This can help individuals save on taxes and enhance their overall returns.

Conclusion

SBI’s Annuity Deposit Scheme 2023 is a well-crafted investment plan that offers a reliable and steady source of monthly income. With attractive interest rates, flexible tenure, and eligibility for loans, it provides a great opportunity to secure a comfortable future. So, invest wisely and plan ahead to ensure you enjoy a stress-free retirement.