Guaranteed Monthly Income | SBI Annuity Deposit Scheme | Best Investment Plan for Monthly Income

Guaranteed Monthly Income | SBI Annuity Deposit Scheme | Best Investment Plan for Monthly Income
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In this video of Josh Money, Aastha Sethi is talking about SBI Annuity Deposit Scheme.
SBI Annuity Deposit Scheme channelizes savings of a person to get regular monthly income. Investors can deposit their savings in a lump sum to get monthly income over a fixed tenure. This जोश Money video covers the SBI Annuity Deposit Scheme, its features and frequently asked questions about the scheme in detail.
SBI Annuity Deposit Scheme is a scheme that enables investors to use their savings to get regular income. In this scheme, an investor can invest in a lump sum and receive Equated Monthly Instalments (EMI). The EMI includes both the principal and interest. The interest is compounded quarterly and discounted to the monthly EMI value. Also, the rate of interest will be as per SBI rules and norms.

All resident individuals, including minors, can invest in this scheme through single or joint accounts. The minimum deposit amount should not be less than INR 25,000. There is no limit on the maximum amount of investment in the SBI Annuity Deposit Scheme. Investors can choose from the available tenure options, which are 36, 60, 84 or 120 months. Moreover, investors can take a loan against their SBI annuity deposit scheme. However, it is granted only for special cases.

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