SBI's Annuity Deposit Scheme is very beneficial for those who want a fixed income every month after retirement. Under this scheme, you can get a guaranteed income every month by investing money.

SBI Annuity Deposit Scheme: The era of saving every penny at home is now over. Everyone wants to invest a part of their income in a safe scheme, so that they get better returns when the time comes. However, in India, most people still deposit money in Fixed Deposit (FD) or Recurring Deposit (RD). Both these investments guarantee safe returns. However, many banks also run many such schemes, in which you can earn good profits by investing.

In fact, India's largest bank 'State Bank of India' has many schemes for safe investment of your money. Here we will tell you about the State Bank of India (SBI) Annuity Deposit Scheme. In such a situation, if you are planning to invest in the near future, then this news is going to be very important for you.

Guaranteed income with interest

SBI's Annuity Deposit Scheme is very beneficial for those who want a fixed income every month after retirement. Under this scheme, you can get a guaranteed income every month by investing money. Actually, in this scheme of SBI, you have to deposit a lump sum amount. After investment, the bank gives you the principal amount deposited as well as interest. The biggest thing is that under this scheme, interest equal to FD is given and the interest is calculated every quarter on the money left in the account.

You can start investing from Rs 1000

Under this scheme of SBI, you can start investing with a minimum of Rs 1000. There is no limit on maximum investment. In this scheme, you can invest a lump sum for a period of 36, 60, 84 or 120 months. The annuity payment starts from the next month of deposit on the scheduled date. Apart from this, a loan of up to 75 percent of the remaining amount of the annuity can also be availed in this scheme.