SBI Lakhpati RD: Want Rs 2.22 lakh or Rs 4.44 lakh at maturity? Check monthly deposit needed for 3, 4, and 5 years
SBI Lakhpati RD: The State Bank of India (SBI) offers a dedicated scheme—Har Ghar Lakhpati RD—to help individuals accumulate Rs 1 lakh or more through systematic monthly savings.
SBI Lakhpati RD: If you earn a steady monthly income, saving doesn’t have to mean putting aside a huge chunk all at once. That’s where a Recurring Deposit (RD) can come in handy. It allows you to set aside a fixed amount every month, which earns compound interest over time. At the end of the term, you receive the full maturity amount—making it a disciplined yet flexible way to build wealth gradually. And as your income increases, you can scale up your monthly contributions too.
To make this savings habit even more achievable, the State Bank of India (SBI) offers a scheme called ‘Har Ghar Lakhpati RD’. This plan is designed to help everyday savers turn modest monthly investments into Rs 1 lakh or more—without the pressure of large lump-sum deposits.
In this article, we break down how much you need to save each month—whether you’re a regular customer or a senior citizen—to reach milestone amounts like Rs 2,22,222 or Rs 4,44,444 in 3, 4, or 5 years. Maturity amounts that we are taking as examples for this story are projections. In the SBI Lakhpati RD scheme, maturity is available as Rs 1 lakh and its multiples.
Images: Pixabay, Freepik, Unsplash
(Disclaimer: These are projected calculations based on current FD rates and should not be considered financial advice. Please consult a financial expert for personalised investment planning.)
What is SBI’s 'Har Ghar Lakhpati' RD?
The Har Ghar Lakhpati RD scheme is a recurring deposit product offered by the State Bank of India (SBI). It is designed to support individuals and families in reaching specific financial milestones by saving small amounts consistently over time. This scheme is a pre-defined RD plan that allows customers to accumulate Rs 1 lakh or its multiples by making fixed monthly deposits. With predetermined maturity values, it provides clarity and discipline in savings for both short- and long-term goals.
Who all can open an SBI Lakhpati RD account?
The Har Ghar Lakhpati RD scheme is available to all resident individuals. Accounts can be opened:
Singly or jointly
By minors above 10 years of age who can sign independently
By parents or legal guardians on behalf of minors
This inclusive approach makes it accessible for a wide range of savers—from working professionals and homemakers to students and retirees.
SBI Lakhpati RD: Interest rates for general citizens
For regular depositors, the applicable interest rates under the scheme are:
6.75 per cent for RD tenures of 3 years and 4 years
6.50 per cent for RD tenures ranging from 5 to 10 years
SBI Lakhpati RD: Interest rates for senior citizens
Senior citizens benefit from preferential interest rates under SBI’s RD offerings:
7.25 per cent for 3-year and 4-year deposit terms
7.00 per cent for 5 to 10 years
SBI Lakhpati RD: How much do you need to invest monthly to earn Rs 2,22,222 at maturity in 3 years?
To reach a maturity amount of Rs 2,22,222 in 3 years, the estimated monthly investment is Rs 5,558.26.
SBI Lakhpati RD: How much do you need to invest monthly to earn Rs 2,22,222 at maturity in 4 years?
To reach a maturity amount of Rs 2,22,222 in 4 years, the estimated monthly investment is Rs 4026.23.
SBI Lakhpati RD: How much do you need to invest monthly to earn Rs 2,22,222 at maturity in 5 years?
For a 5-year tenure, you would need to invest an estimated Rs 3,130.29 per month to receive Rs 2,22,222 at maturity.
SBI Lakhpati RD: How much do you need to invest monthly to earn Rs 4,44,444 at maturity in 3 years?
To accumulate Rs 4,44,444 at maturity in 3 years, the estimated monthly investment required is Rs 11,116.52.
SBI Lakhpati RD: How much do you need to invest monthly to earn Rs 4,44,444 at maturity in 4 years?
To accumulate Rs 4,44,444 at maturity in 4 years, the estimated monthly investment required is Rs 8052.45.
SBI Lakhpati RD: How much do you need to invest monthly to earn Rs 4,44,444 at maturity in 5 years?
For a 5-year tenure, you would need to invest an estimated Rs 6,260.58 per month to receive Rs 4,44,444 at maturity.