SBI Har Ghar Lakhpati RD Scheme 2025 – In a move aimed at boosting financial inclusion and long-term savings among middle and lower-income families, the State Bank of India (SBI) has launched the ‘Har Ghar Lakhpati’ Recurring Deposit (RD) Scheme for 2025. With a monthly deposit of just ₹591, this special scheme offers a cumulative return of ₹1 lakh at maturity—making it one of the most accessible and rewarding savings plans for small investors in India. This initiative is part of SBI’s larger mission to help every household build wealth through disciplined savings. Whether you’re planning for a child’s education, building an emergency fund, or simply want to ensure a secure financial future, this RD scheme offers a reliable and low-risk option with attractive returns backed by the country’s largest public sector bank.
Key Highlights of SBI Har Ghar Lakhpati RD Scheme 2025
SBI’s new RD plan has been structured to suit common households looking for stable returns without high monthly commitments. Here’s a quick overview:
- Monthly Deposit: ₹591
- Tenure: 10 years (120 months)
- Final Maturity Amount: ₹1,00,000
- Interest Rate: Approx. 7.5% (Compounded Quarterly)
- Type: Recurring Deposit (RD)
- Minimum Age: 18 years
- Eligibility: Any Indian citizen with a valid SBI account
SBI Har Ghar Lakhpati RD Plan Summary Table
| Feature | Details |
|---|---|
| Scheme Name | SBI Har Ghar Lakhpati RD Scheme 2025 |
| Monthly Deposit Amount | ₹591 |
| Tenure | 10 Years (120 Months) |
| Total Investment | ₹70,920 |
| Maturity Amount | ₹1,00,000 |
| Interest Rate (Approx.) | 7.5% p.a. (Quarterly Compounding) |
| Type of Scheme | Recurring Deposit |
| Premature Withdrawal | Allowed with Penalty |
How the SBI RD Scheme Works: Full Maturity Calculation Explained
The scheme works on a simple principle of disciplined monthly saving and compounding interest.
- You deposit ₹591 every month for 120 months.
- SBI pays compound interest (quarterly).
- At the end of 10 years, your savings and interest together become ₹1 lakh.
Maturity Value Projection Table (Year-Wise)
| Year | Total Deposit Till Year | Interest Earned | Total Balance |
|---|---|---|---|
| 1 | ₹7,092 | ₹273 | ₹7,365 |
| 2 | ₹14,184 | ₹1,185 | ₹15,369 |
| 3 | ₹21,276 | ₹2,871 | ₹24,147 |
| 4 | ₹28,368 | ₹5,373 | ₹33,741 |
| 5 | ₹35,460 | ₹8,736 | ₹44,196 |
| 6 | ₹42,552 | ₹13,017 | ₹55,569 |
| 7 | ₹49,644 | ₹18,276 | ₹67,920 |
| 8 | ₹56,736 | ₹24,573 | ₹81,309 |
| 9 | ₹63,828 | ₹31,971 | ₹95,799 |
| 10 | ₹70,920 | ₹39,080 | ₹1,00,000 |
Note: Figures are indicative and depend on prevailing interest rates.
Who Should Invest in This RD Scheme?
This RD plan is ideal for individuals and families looking for secure long-term returns with low monthly commitments.
Best Suited For:
- Daily wage earners or blue-collar workers
- Small business owners and shopkeepers
- Students saving pocket money
- Housewives aiming for future family expenses
- Parents planning for their child’s future
Why This Scheme Stands Out
- Requires no lump sum investment
- Assured return with no market risk
- Encourages financial discipline
- Backed by SBI’s trust and stability
- Useful for goal-based saving (weddings, education, emergencies)
How to Open SBI Har Ghar Lakhpati RD Scheme 2025?
Starting this RD account is easy and can be done both online and offline.
Online Method via YONO SBI App
- Log in to YONO SBI App or SBI Net Banking
- Go to “Deposits” → “Recurring Deposit”
- Select tenure as 120 months
- Enter monthly amount as ₹591
- Review & confirm the setup
Offline Method at SBI Branch
- Visit your nearest SBI branch
- Carry ID proof (Aadhaar, PAN)
- Fill out the RD application form
- Deposit first month’s ₹591 in cash or from account
- Collect the RD receipt/passbook
Benefits of SBI ‘Har Ghar Lakhpati’ Scheme Over Other Savings Plans
SBI’s RD scheme competes favorably against traditional savings tools like FDs, PPF, and mutual funds.
RD vs FD vs PPF Comparison Table
| Feature | SBI RD Scheme | Fixed Deposit (FD) | Public Provident Fund (PPF) |
|---|---|---|---|
| Monthly Deposit | ₹591 | Lumpsum (₹10,000+) | Yearly (₹500 min) |
| Interest Rate | ~7.5% | 6.5% – 7.5% | 7.1% (fixed by govt) |
| Lock-in Period | 10 years | 1-5 years | 15 years |
| Risk Factor | Zero | Zero | Zero |
| Premature Exit | Yes, with penalty | Yes, with penalty | Partially after 5 years |
| Tax Benefit | No | Partial (under 80C) | Full 80C deduction |
RD is perfect for short-to-mid-term, low-risk financial goals.
Terms, Conditions, and Important Rules to Know
Like every financial product, this RD scheme has certain guidelines to follow.
Key Terms and Conditions:
- Missed Payments: Attract a penalty of ₹1.50–₹2 per ₹100
- Premature Closure: Allowed after 12 months with reduced interest
- Loan Against RD: Up to 90% loan available on deposited amount
- Tax Deducted at Source (TDS): Applicable if interest exceeds ₹40,000 annually
Eligibility and Document Checklist
- Indian Citizen (Resident)
- Age: Minimum 18 years
- Valid SBI Savings Account
- KYC Documents: PAN, Aadhaar, Passport Photo
Expert Opinion: Is This RD Plan Worth It?
Financial experts believe the SBI ‘Har Ghar Lakhpati’ RD Scheme is a great fit for conservative investors who prefer guaranteed returns over market-linked risks. While it may not beat inflation in high-spending scenarios, it serves as an excellent wealth-building option for those who want to save consistently over a decade.
- It promotes habit-based savings
- Assures lump sum for future needs
- No fear of market volatility
- Minimum paperwork and easy withdrawal
The SBI Har Ghar Lakhpati RD Scheme 2025 is a powerful tool for financial empowerment, especially for low-income and first-time savers. By setting aside just ₹591 a month, you can build a secure ₹1 lakh future for yourself or your family. With its unmatched trust, steady returns, and low risk, this scheme is your stepping stone to becoming a lakhpati—right from the comfort of your home.
Frequently Asked Questions (FAQs)
Q1. Is the SBI Har Ghar Lakhpati RD Scheme available to non-SBI account holders?
No, you must have an active SBI savings account to start this RD scheme.
Q2. Can I invest more than ₹591 per month under this scheme?
This specific plan is tailored for ₹591/month, but SBI allows custom RDs separately for higher deposits.
Q3. What happens if I miss an RD installment?
A small penalty is applied per ₹100 missed. Continuously missing payments can lead to account closure.
Q4. Can I close the RD account before 10 years?
Yes, but only after 12 months. Premature closure will attract lower interest payout.
Q5. Is the maturity amount taxable?
Yes, interest earned is taxable as per your income slab. TDS applies if interest exceeds ₹40,000 annually.