People make plans to secure their future through investment, but sometimes, investing in the wrong place creates problems rather than profits. In such a situation it becomes very important that you invest in the right place. But today we are going to tell you something where you should consider investing, through which you start getting monthly income after a certain time. Here we are going to tell you about the annuity plan of SBI.
This scheme of SBI can be invested for a period of 36, 60, 84 or 120 months. In this, the rate of interest on the investment will be the same as that for the fixed term fixed deposits. Suppose you deposit the fund for five years, then you will get interest only according to the interest rate applicable to the fixed deposit of five years. Everyone can avail this scheme.
What to do for a monthly income of Rs 10,000
If an investor wants a monthly income of Rs 10,000 every month, then he has to deposit Rs 5,07,964. On the amount deposited, he will get a return at an interest rate of 7 percent, which is about Rs 10,000 every month. If you have 5 lakh rupees to invest and you want to increase your income in future, then this is a better option for you.
Learn how to invest
Minimum Rs 1,000 can be deposited in SBI Annuity Scheme every month. There is no maximum investment limit. In annuity payment, interest starts on the amount deposited by the customer after a certain time. These schemes are very good for the future, but it is not possible for the middle class to raise so much money together.
Generally, middle class people do not have that much money. In such a situation, most people secure their future by investing in Recurring Deposit (RD). The amount is collected through small savings in RD and then returned to the investor by applying interest on it. Because of this, recurring deposits are very much preferred among the common people.