It is very important to take risks when investing in the stock market. At present, there is a selling environment in the stock markets around the world. In such a situation, people plan to secure their future through investment.
But sometimes, investing in the wrong place increases problems. In such a situation, it is essential to know that you invest in the right place to avoid any issues. The country’s largest government bank, SBI, has created an annuity scheme for its customers.
Features Of the Annuity Scheme
Annuity schemes can be invested in from all SBI branches. At least Rs 25 thousand must be invested in the annuity scheme. SBI employees and former employees will get 1 percent more interest. Meanwhile, older adults will be given 0.5 per cent more interest.
Annuity payments will be made at the scheduled time from the next month of deposit. The lump sum payment will be made after deducting TDS from the savings account or current account. This is a great plan to get returns on your money together. In special circumstances, up to 75 percent of the annuity account balance can be withdrawn. Annuity schemes provide better returns than savings accounts.
SBI Scheme Is Very Good
This scheme allows investments for 36, 60, 84, and 120 months. The interest rate on investment will be the same for term deposits of the chosen period. For example, suppose you have deposited funds for 5 years. You will get interest as per the interest rate applicable for 5 years FD. Any citizen in the country can take advantage of this scheme.
You can deposit at least Rs 1,000 in this SBI scheme. There is no limit on maximum investment. In this scheme, the customer earns within a fixed time by charging interest on the deposited amount. This scheme is quite remarkable for the times to come. This scheme is perfect for middle-class people.
