SBI’s Har Ghar Lakhpati Scheme Offers Structured Savings Plan to Build Wealth Over Time

Flexible Recurring Deposit Scheme Helps Individuals Reach Targets of Rs.6.5 Lakh or Rs.8.2 Lakh

New Delhi, April 2025 — The State Bank of India (SBI) is encouraging disciplined saving habits among individuals through its Har Ghar Lakhpati Scheme, a recurring deposit (RD) plan designed to help account holders accumulate substantial savings over time with flexibility and reliability.

Inclusive Eligibility Across Age Groups

The scheme is accessible to a broad group of individuals. Resident Indians can open accounts individually or jointly. Minors aged 10 and above who can sign independently are also eligible, and parents or guardians may open accounts on behalf of younger children, making the scheme suitable for family financial planning.

Key Features of the Scheme

The Har Ghar Lakhpati Scheme focuses on systematic savings, allowing monthly contributions that can be adjusted as one’s income grows. This makes it a practical option for people seeking long-term financial stability through small but consistent investments.

Interest Rates Based on Tenure and Age

SBI offers competitive interest rates under this RD scheme:

• General Citizens receive:
  • 6.75% for tenures of 3 or 4 years
  • 6.50% for 5 to 10-year tenures
• Senior Citizens are entitled to higher returns:
  • 7.25% for 3 or 4 years
  • 7.00% for 5 to 10 years

Monthly Contribution Needed to Reach Savings Milestones

To help savers plan effectively, SBI has provided estimated monthly deposit figures to accumulate either ₹6.5 lakh or ₹8.2 lakh by the end of the chosen term:

To Save ₹6.5 Lakh:

• 3 Years: ₹16,257.93
• 4 Years: ₹11,776.72
• 5 Years: ₹9,156.11

To Save ₹8.2 Lakh:

• 3 Years: ₹20,510.01
• 4 Years: ₹14,856.79
• 5 Years: ₹11,550.79

Important Disclaimer

SBI has clarified that these calculations are based on current interest rates and are subject to change. Investors are advised to consult with a financial advisor or visit their nearest SBI branch to understand the most suitable option based on their financial goals.

The Har Ghar Lakhpati Scheme offers a structured, accessible, and flexible path toward financial empowerment, aligning with SBI’s mission to foster financial literacy and secure futures for households across India.