The State Bank of India (SBI), India’s largest public sector bank, has launched a unique savings plan known as the “SBI Har Ghar Lakhpati RD Scheme.” This scheme is a Recurring Deposit (RD) plan aimed at helping every household build wealth over time with small monthly savings. If planned well, you can earn ₹2 lakh to ₹5 lakh through this scheme. It’s a safe and steady way to grow your money without taking any risk.
Let’s understand how this RD plan works, its benefits, interest rates, and how much you need to save monthly to become a lakhpati.
What is SBI Har Ghar Lakhpati RD Scheme?
SBI Har Ghar Lakhpati Scheme is a Recurring Deposit (RD) product designed to make every Indian household financially stronger. In this scheme, you deposit a fixed amount of money every month into your RD account for a fixed period (such as 3, 5, 7, or 10 years). In return, you get a lump sum amount at the end of the term along with interest.
You can earn up to ₹2 lakh to ₹5 lakh based on your monthly deposit and the duration of your RD.
Overview Table: SBI Har Ghar Lakhpati RD Scheme
| Particulars | Details |
| Scheme Name | SBI Har Ghar Lakhpati RD Scheme |
| Type | Recurring Deposit (RD) |
| Monthly Deposit | ₹1,000 to ₹5,000 or more |
| Tenure | 3, 5, 7, or 10 years |
| Maturity Amount | ₹2 lakh to ₹5 lakh (approx.) |
| Interest Rate | 6.5% to 7.0% p.a. (as per tenure) |
| Eligibility | Indian residents with SBI account |
| Minimum Age | 18 years |
| Account Type | Single or joint |
How to Earn ₹2 to ₹5 Lakh?
The maturity amount depends on how much you deposit monthly and for how long. Here are some examples:
- Deposit ₹2,000 per month for 5 years → Maturity around ₹1.4 to ₹1.5 lakh
- Deposit ₹3,000 per month for 7 years → Maturity around ₹3 lakh
- Deposit ₹5,000 per month for 10 years → Maturity around ₹5 to ₹5.2 lakh
The longer you invest and the higher you save, the more you earn due to compound interest.
Current Interest Rates (as of 2025)
SBI offers different interest rates on RD based on tenure. The latest rates are:
- 1 year to less than 2 years – 6.80% p.a.
- 2 years to less than 3 years – 7.00% p.a.
- 3 years to less than 5 years – 6.75% p.a.
- 5 years and above – 6.50% p.a.
- Senior Citizens – Extra 0.50% on above rates
These rates may change from time to time based on RBI policies.
Key Benefits of SBI Har Ghar Lakhpati Scheme
- Safe Investment
- Backed by a government bank, no market risk involved.
- Backed by a government bank, no market risk involved.
- Guaranteed Returns
- Fixed interest means you know exactly what you will receive.
- Fixed interest means you know exactly what you will receive.
- Flexible Monthly Saving
- You can start saving with just ₹100 or ₹500 per month.
- You can start saving with just ₹100 or ₹500 per month.
- Power of Compounding
- The longer the tenure, the higher the maturity due to compound interest.
- The longer the tenure, the higher the maturity due to compound interest.
- Loan Facility
- You can take a loan against your RD after some time.
- You can take a loan against your RD after some time.
- Senior Citizen Benefit
- Extra 0.50% interest makes it attractive for elders.
- Extra 0.50% interest makes it attractive for elders.
How to Open SBI RD Account Under This Scheme?
You can open an RD under this scheme in two ways:
1. Online through SBI YONO App or Net Banking:
- Log in to your SBI account
- Select “e-RD”
- Enter monthly amount, tenure
- Confirm and submit
2. Offline at SBI Branch:
- Visit your nearest branch
- Fill RD account opening form
- Submit KYC documents
- Deposit your first monthly amount
Who Should Invest?
This scheme is ideal for:
- Salaried employees who want to save monthly
- Students saving pocket money
- Homemakers who wish to contribute to the family’s savings
- Retired individuals looking for steady returns
- Small business owners wanting secure savings
Tips to Become a Lakhpati with RD
- Start early and continue regularly
- Choose long tenure for better returns
- Increase monthly deposit whenever possible
- Reinvest the maturity amount in other long-term savings options
Final Words
The SBI Har Ghar Lakhpati RD Scheme is a great option for people who want to build wealth slowly and safely. With discipline and consistent savings, even a small amount can grow into lakhs over time. You don’t need to take any risk or invest in the stock market. Just choose the right amount and tenure, and SBI will take care of the rest.
Whether you’re a student, housewife, working professional, or retired person, this scheme helps you fulfill your dream of becoming a “Lakhpati” – one monthly deposit at a time!