SBI's Har Ghar Lakhpati Yojana is a recurring deposit (RD) scheme in which customers deposit a fixed amount every month and receive returns after a certain period.

If you are planning to invest your money in a place where you get a fixed return and your principal is also safe, then you can invest in 'Har Ghar Lakhpati' scheme of 'State Bank of India' (SBI).

SBI's Har Ghar Lakhpati Yojana is a recurring deposit (RD) scheme, in which customers have to deposit a fixed amount every month. After completion of the scheme, customers are given returns along with interest. The bank provides interest on a quarterly basis.

Under the Har Ghar Lakhpati scheme, the interest rates are different for general citizens and senior citizens. General citizens get interest at the rate of 6.75% for a period of 3 to 4 years and 6.50% for other periods. Senior citizens get 7.25% interest for a period of 3 to 4 years and 7.00% for other periods.

Any common citizen can invest in this scheme of SBI. The maturity period of this scheme is from 3 to 10 years. That is, you have to invest for a minimum of 3 years or a maximum of 10 years.

In this scheme, customers can become lakhpatis even by investing less than Rs 600. If you want to raise one lakh rupees in 10 years, then for this you have to invest Rs 576 per month. In this, senior citizens get interest at the rate of 7.00%.

Any Indian citizen can invest in Har Ghar Lakhpati Yojana. Under this scheme, the customer can open a single or joint account.

In the Har Ghar Lakhpati Yojana of State Bank of India, parents can also open an account with their child above 10 years of age.