To secure your future it is very important to make investments that give you long term and stable returns. Many times people invest in wrong places and later they have to repent. In such a situation, it is important to know and understand the right place to invest. Today we are going to tell you a plan in which you should plan to invest. Monthly income starts coming every month after a certain time through SBI's annuity scheme.
You can invest in SBI's annuity scheme for a tenure of 36, 60, 84 or 120 months. The rate of interest on investment in this will be the same as that of the fixed deposit of the chosen tenure. If you deposit a fund for 10 years, then you get interest as per the rate applicable on the fixed deposit of 10 years.
10 thousand will be earned every month like this
If you want to earn Rs 10,000 every month, then you have to deposit Rs 5,07,964. You will get 7 per cent interest rate return on the amount deposited by you, which will be Rs 10,000 per month.
What are the rules for investing in this scheme?
A minimum of Rs 1,000 can be deposited in SBI Annuity Scheme every month. There is no maximum investment limit in this plan. Interest in annuity payment starts after the time fixed by the customer. Any Indian citizen can become a part of this scheme and can also become part of the scheme singly or jointly.
Trust RD more than annuity scheme
Generally middle class people do not have big money. In such a situation, most people secure their future by investing in Recurring Deposit (RD). In RD, money is deposited through small savings and then returned to the investor along with interest on it. Savings account gives better returns in annuity scheme. Annuity will be paid on the due date from the month following the deposit. This payment will be made in the account after deducting TDS.
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