SBI Lakhpati RD Plan – In today’s uncertain economic environment, guaranteed return schemes like Recurring Deposits (RDs) continue to be a popular choice among Indian investors. One such plan that’s gaining attention is the SBI Lakhpati RD Plan. It allows you to accumulate wealth steadily with small monthly investments. Depending on your investment period and goal amount—₹3.33 lakh or ₹5.55 lakh—you can plan your monthly deposits for 3, 4, or 5 years.
Let’s explore how this RD scheme works, the interest you can expect, and how much you’ll need to deposit monthly to become a “Lakhpati” with SBI.
What is SBI Lakhpati RD Plan?
The SBI Lakhpati RD Plan is a systematic savings option offered by the State Bank of India that allows customers to invest fixed monthly amounts for a fixed tenure. The maturity amount, including interest, is predetermined based on the monthly deposit and tenure. This makes it a disciplined and reliable savings method, especially for those who want a fixed target amount at the end of the investment period.
Key Highlights:
- Fixed returns and guaranteed maturity value
- Investment tenures of 3, 4, or 5 years
- Monthly deposit starts as low as ₹2,000
- Ideal for salaried individuals and middle-income savers
How Much to Invest Monthly to Get ₹3.33 Lakh in SBI Lakhpati RD Plan
To accumulate ₹3.33 lakh at maturity, your monthly investment will vary based on the term of the RD and the prevailing interest rates, which currently range between 6.5% and 7% annually for SBI recurring deposits.
SBI RD Monthly Investment Required for ₹3.33 Lakh Maturity
| RD Tenure | Estimated Monthly Deposit | Interest Rate | Total Investment | Maturity Amount |
|---|---|---|---|---|
| 3 Years | ₹8,500 – ₹8,700 | ~6.50% | ₹3.06 – ₹3.13 Lakh | ₹3.33 Lakh |
| 4 Years | ₹6,100 – ₹6,300 | ~6.75% | ₹2.93 – ₹3.02 Lakh | ₹3.33 Lakh |
| 5 Years | ₹4,800 – ₹5,000 | ~7.00% | ₹2.88 – ₹3.00 Lakh | ₹3.33 Lakh |
Note: Monthly amounts are approximated based on average SBI RD interest rates. Exact amounts may vary slightly due to compounding and bank policies.
Want ₹5.55 Lakh? Here’s What You Need to Invest Monthly
For a higher goal of ₹5.55 lakh at maturity, the monthly deposit obviously increases. Here’s a breakdown:
SBI RD Monthly Investment Required for ₹5.55 Lakh Maturity
| RD Tenure | Estimated Monthly Deposit | Interest Rate | Total Investment | Maturity Amount |
|---|---|---|---|---|
| 3 Years | ₹14,000 – ₹14,500 | ~6.50% | ₹5.04 – ₹5.22 Lakh | ₹5.55 Lakh |
| 4 Years | ₹10,200 – ₹10,400 | ~6.75% | ₹4.81 – ₹5.00 Lakh | ₹5.55 Lakh |
| 5 Years | ₹8,000 – ₹8,200 | ~7.00% | ₹4.80 – ₹4.92 Lakh | ₹5.55 Lakh |
This RD plan is ideal for those saving for medium-term goals such as a child’s education, a vehicle, or emergency corpus.
Why Choose SBI’s RD Over Other Savings Tools?
Recurring Deposits are among the safest financial products, especially for risk-averse investors. Here’s why the SBI Lakhpati RD stands out:
- Capital Safety: Backed by India’s largest public sector bank
- Stable Interest Returns: No market fluctuations like mutual funds
- Flexible Investment Amounts: Choose a monthly amount that fits your income
- Loan Facility: SBI offers loans against your RD up to 90% of the deposit value
Who Should Invest in SBI Lakhpati RD Plan?
The SBI Lakhpati RD Plan is particularly suitable for:
- Young earners planning for short- to medium-term goals
- Parents saving for children’s future expenses
- Retirees seeking disciplined saving without market risk
- People looking for alternatives to SIPs or PPF for steady returns
Advantages of SBI RD:
- Encourages habit of monthly saving
- Automated monthly deposit from SBI account
- No TDS if total interest income is under ₹40,000 annually
SBI RD Interest Rates – May 2025
Here are the latest recurring deposit interest rates from SBI for general and senior citizens:
| RD Tenure | Interest Rate (General) | Interest Rate (Senior Citizens) |
|---|---|---|
| 1 Year | 6.80% | 7.30% |
| 2 Years | 7.00% | 7.50% |
| 3 Years | 6.50% | 7.00% |
| 4 Years | 6.75% | 7.25% |
| 5 Years | 7.00% | 7.50% |
Rates may be revised by SBI depending on RBI policy changes.
How to Open an SBI Recurring Deposit Account?
Opening an RD account with SBI is simple and can be done online or offline:
Online (YONO App or NetBanking):
- Log in to SBI NetBanking or YONO App
- Navigate to ‘Deposit’ section
- Choose ‘Recurring Deposit’
- Enter tenure, amount, and nominee details
- Confirm and start monthly deposits
Offline:
- Visit your nearest SBI branch
- Fill out RD application form
- Submit KYC documents
- Provide nominee details
- First deposit can be made via cheque or cash
The SBI Lakhpati RD Plan is a smart option for individuals who want to achieve specific savings goals like ₹3.33 lakh or ₹5.55 lakh in a safe and predictable way. With interest rates currently favorable and SBI’s reputation for security, now is a good time to consider this scheme. Just select a tenure that suits your target and start a monthly deposit—you could be a Lakhpati in just a few years.