SBI has launched two new schemes. The name of one is Har Ghar Lakhpati Scheme. The name of the other one is SBI Patters FD Scheme. This scheme can increase your small amount into lakhs. It can also make you a millionaire. Under this scheme, you can deposit a large amount by investing a small amount. This scheme of SBI is a recurring deposit. It has been specially designed for super senior citizens i.e. people aged 80 years and above. Apart from this, under this scheme you can also start investing for a 10 year old child.

What is Recurring Deposit (RD)?

In RD you have to deposit a fixed amount every month. You can invest at least Re 1 in this. RD can be done for 6 months, 1 year, 5 years or 10 years. You can invest in this scheme for 3 years to 10 years. You can raise Rs 1 lakh or more as per your need by depositing a small amount every month.

If you want to deposit Rs 1 lakh in 3 years, then you will have to deposit only Rs 2 every month. If you want to deposit Rs 1 lakh in 5 years, then you will have to deposit Rs 10 every month. Whereas if you need Rs 1 lakh after 10 years, then you will have to deposit Rs 93 every month.

SBI Patters FD Scheme

This scheme is especially for super senior citizens. In this you can invest a minimum of Rs 1000 to a maximum of Rs 1 crore. The investment period in this can range from 7 days to 10 years. SBI has launched this scheme with the aim of helping people invest in the right way for goal achievement. He says that such schemes will help people achieve their goals.