{"id":29174,"date":"2025-01-04T11:01:57","date_gmt":"2025-01-04T05:31:57","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=29174"},"modified":"2025-04-09T01:04:30","modified_gmt":"2025-04-08T19:34:30","slug":"state-bank-of-indias-sbis-two-new-deposit-schemes-2","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/state-bank-of-indias-sbis-two-new-deposit-schemes-2\/","title":{"rendered":"State Bank of India\u2019s (SBI\u2019s) Two New Deposit Schemes"},"content":{"rendered":"<h2><strong>About Har Ghar Lakhpati Scheme:<\/strong><\/h2>\n<ul>\n<li>It is a <strong>pre-calculated recurring deposit scheme<\/strong> designed to <strong>help customers to accumulate Rs 1 lakh or multiples thereof.<\/strong><\/li>\n<li>The new scheme simplifies the process of achieving financial goals, allowing customers to plan and save effectively.<\/li>\n<li>This product is also <strong>available to minors<\/strong>, encouraging early financial planning and savings habits.<\/li>\n<li>The <strong>minimum tenure<\/strong> of recurring deposits is <strong>12 months (one year<\/strong>), and the <strong>maximum is 120 months (10 years).<\/strong><\/li>\n<\/ul>\n<p><strong>About SBI Patrons Scheme:<\/strong><\/p>\n<ul>\n<li>This is a <strong>specialized fixed deposit scheme<\/strong> tailored <strong>for senior citizens aged 80 years and above.\u00a0<\/strong><\/li>\n<li>It offers <strong>enhanced interest rates<\/strong>, recognizing the long-standing relationship many senior customers have with the bank.<\/li>\n<li>SBI Patrons is <strong>available to existing and new term deposit customers.<\/strong><\/li>\n<li>SBI Patron&#8217;s depositors would earn an <strong>additional 10 basis points higher interest rate than what is offered to senior citizens.<\/strong><\/li>\n<\/ul>\n<hr \/>\n<h3><strong>Q1<\/strong>: What is a Recurring Deposit?<\/h3>\n<p>A Recurring Deposit (RD) is a type of term deposit offered by banks and financial institutions, allowing individuals to save money systematically by making fixed monthly deposits for a predetermined period. At the end of the tenure, the depositor receives the principal amount along with interest.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.livemint.com\/money\/personal-finance\/how-to-become-a-millionaire-with-sbis-new-recurring-deposit-scheme-explained-har-ghar-lakhpati-sbi-patrons-for-seniors-11735957131795.html\" target=\"_blank\" rel=\"nofollow noopener\">LM<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Har Ghar Lakhpati Scheme is a pre-calculated recurring deposit scheme designed to help customers to accumulate Rs 1 lakh or multiples thereof. <\/p>\n","protected":false},"author":5,"featured_media":29175,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-29174","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/29174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=29174"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/29174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/29175"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=29174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=29174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=29174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}