If you believe in the power of small, consistent savings, India’s largest public sector bank — the State Bank of India (SBI) — has a scheme just for you. Designed specifically for small investors, the ‘Har Ghar Lakhpati’ Scheme allows you to accumulate ₹1 lakh or more by investing as little as ₹593 per month.
This scheme is aimed at low- to middle-income individuals who prefer disciplined, long-term savings without the pressure of large investments. Here's how this plan works and why it’s generating interest among small savers and senior citizens alike.
The ‘Har Ghar Lakhpati’ scheme is a recurring deposit (RD)-based savings plan where individuals can invest a small amount every month and earn attractive interest rates, resulting in a maturity amount of ₹1 lakh or more over time.
This scheme is particularly attractive for:
Daily wage earners
Small business owners
Homemakers
Salaried professionals aiming for disciplined savings
The key appeal is its low monthly commitment, starting from ₹593, making it easily accessible to all income groups.
SBI is offering competitive interest rates under this scheme:
Up to 6.75% per annum for regular depositors
Up to 7.25% per annum for senior citizens
These rates are significantly higher than many savings accounts and even some other fixed deposit options in the same investment bracket.
Here’s an example:
If you invest ₹593 every month for 10 years in the scheme, at an average interest rate of 6.75%, your savings can grow to around ₹1 lakh or more at maturity.
This is based on the power of compounding, as interest is calculated and added periodically over the tenure.
Of course, the final amount may vary slightly depending on the chosen tenure and prevailing interest rate at the time of opening the RD.
✅ Affordable Investment: Start with just ₹593/month
📈 Attractive Returns: Earn up to 7.25% annually
👵 Senior Citizen Advantage: Higher interest rates for 60+ age group
🧾 Safe and Secure: Backed by SBI — India’s most trusted bank
📆 Flexible Tenure Options: Choose your deposit duration based on your goals
💰 Maturity Payout: Receive a lump sum of ₹1 lakh or more at the end of the term
You can invest in this scheme by visiting your nearest SBI branch or using the YONO SBI app. Here's what you'll need:
A valid SBI savings account
Basic KYC documents (Aadhaar, PAN, etc.)
A small monthly deposit instruction via standing order or auto-debit
The entire process is digital-friendly and designed to be completed in a few minutes.
This scheme is ideal for:
Individuals who want to build an emergency fund
Parents saving for children’s education
Retirees seeking a safe savings option
Young professionals aiming to build a habit of saving
SBI’s ‘Har Ghar Lakhpati’ scheme proves that you don’t need a large income to create wealth — you just need the right plan and commitment. With as little as ₹593 per month, you could set yourself on the path to financial security.
