Know how to earn big money sitting at home with SBI’s Annuity Deposit scheme

Do you want to earn money from home, then there is good news for you. If you are thinking about earning good every month, then you can invest in State Bank of India (SBI).

You will continue to earn a fixed income every month by investing in SBI’s Annuity Deposit scheme. Through this scheme you can earn good every month. If any customer invests money in this scheme, then he will continue to have a fixed income every month. In this scheme of SBI, a minimum amount of Rs 1,000 can be deposited for monthly annuity. There is no limit on maximum investment in this scheme.

What amount can be deposited

If you want a monthly income of Rs 5,000 every month for 60 years, the bank will tell you how much amount you have to deposit. However, the deposit amount should not be less than Rs 25,000. However, its maximum limit is not set. This deposit scheme is available for 36/60/84 or 120 months. Your monthly income will depend on the period and principal of the money deposited.

Facility to withdraw money before maturity

Nomination facility is available in this scheme. The depositor can avail an overdraft and loan facility equal to 75% of the amount deposited in the annuity. On the other hand, if you talk about maturity, then you can invest in it for 3 years, 5 years, 7 years and 10 years.

According to the bank’s website, the nominee is allowed to withdraw money if the account holder dies before the maturity of the SBI Annuity Deposit Scheme. Anyone can take advantage of this scheme. In this, individual or joint accounts, adults and minors can also be opened. In this scheme, transfer of account in another branch, TDS rules will be based on FD rules only.