SBI Har Ghar Lakhpati Scheme is a goal-based Recurring Deposit (RD) product offered by the State Bank of India (SBI). The scheme enables customers to accumulate a target maturity amount of ₹1 lakh or its multiples through fixed monthly instalments over a selected deposit tenure. Available through SBI Branches, YONO SBI, and SBI Internet Banking, the scheme helps customers plan their savings by calculating the required monthly deposit in advance based on the chosen maturity value and tenure.
SBI Har Ghar Lakhpati Scheme Highlights | |
|---|---|
| Scheme Name | SBI Har Ghar Lakhpati Scheme |
| Offered By | State Bank of India (SBI) |
| Product Type | Goal-Based Recurring Deposit (RD) |
| Deposit Tenure | 3 Years to 10 Years |
| Target Maturity Amount | ₹1 Lakh or its multiples |
| Monthly Instalment | Calculated by SBI based on the selected maturity amount, tenure, and applicable interest rate |
| Interest Rate | As per the prevailing SBI Recurring Deposit interest rates applicable to the customer category |
| Eligible Applicants | Resident Individuals, including joint account holders and eligible minors as per SBI guidelines |
| Loan Facility | Loan/Overdraft available against the deposit, subject to SBI rules |
| Application Mode | Offline through SBI Branches and Online through YONO SBI / SBI Internet Banking (where available) |
Introduction of SBI Har Ghar Lakhpati: A Brief Insight
Building a savings corpus often becomes difficult when people are unsure how much they should save every month to achieve their financial goals. To make goal-based saving easier, the State Bank of India (SBI) introduced the Har Ghar Lakhpati Scheme, a specially designed Recurring Deposit (RD) product that helps customers accumulate a target maturity amount of ₹1 lakh or its multiples through fixed monthly deposits over a chosen period.
The scheme was introduced by SBI during 2024 as part of the Bank’s efforts to encourage disciplined and long-term savings among individuals and families. Unlike a conventional recurring deposit where customers decide the monthly deposit amount first, the Har Ghar Lakhpati Scheme follows a goal-based approach. Customers first choose the amount they want to receive on maturity, and the Bank calculates the exact monthly instalment required according to the selected tenure and the applicable interest rate.
The SBI Har Ghar Lakhpati Scheme is available through all eligible SBI branches and can also be opened using the Bank’s digital banking channels, including YONO SBI and SBI Internet Banking, wherever the facility is available. Since the scheme is built on the existing SBI Recurring Deposit framework, it follows the applicable terms, conditions, and interest rates notified by the Bank for recurring deposits.
Customers can choose a maturity value of ₹1 lakh or any higher amount in multiples of ₹1 lakh, with deposit tenures ranging from 3 years to 10 years. The required monthly instalment depends on the selected maturity amount, deposit period, and the prevailing interest rate applicable to the customer’s category, such as General Public, Senior Citizen, SBI Staff, or Staff Senior Citizen.
One of the biggest advantages of the scheme is that it removes the uncertainty associated with regular savings. Since the Bank determines the monthly instalment in advance, customers know exactly how much they need to deposit every month to achieve their financial goal. In addition, account holders may also avail the loan or overdraft facility against the accumulated deposit, subject to the terms and conditions prescribed by the State Bank of India.
Resident Individuals can open the account either singly or jointly. The scheme also allows eligible minors to open an account in accordance with SBI guidelines. Monthly instalments are generally deposited automatically through the Standing Instruction (SI) or Auto Debit facility linked with the customer’s SBI Savings Bank Account, making the saving process convenient and hassle-free.
The SBI Har Ghar Lakhpati Scheme is suitable for individuals planning future financial goals such as children’s education, marriage expenses, purchasing assets, or creating an emergency savings fund. Instead of making irregular deposits whenever money is available, the scheme encourages systematic monthly saving with a clearly defined maturity target.
Families planning for their children’s future may also explore the Sukanya Samriddhi Yojana for long-term savings and the SBI Platinum Jubilee Asha Scholarship, which provides financial assistance to eligible students pursuing school and higher education. These products serve different financial goals and can complement long-term savings through the SBI Har Ghar Lakhpati Scheme.
Benefits Provided to Eligible Beneficiaries
The SBI Har Ghar Lakhpati Scheme helps customers build a disciplined savings habit by allowing them to accumulate a fixed target amount through regular monthly deposits. The key benefits of the scheme are as follows.
- Customers can create a maturity corpus of ₹1 lakh or its multiples by depositing a fixed monthly instalment for the selected tenure.
- The monthly deposit amount is calculated in advance based on the chosen target maturity value, applicable interest rate, and deposit tenure, making financial planning simple and predictable.
- The scheme offers interest at the prevailing SBI Recurring Deposit (RD) rates, with separate rates applicable for the General Public, Senior Citizens, SBI Staff, and Staff Senior Citizens.
- Customers can choose a deposit period ranging from 3 years to 10 years, allowing them to select a tenure that best suits their savings goals.
- A loan or overdraft facility can be availed against the accumulated deposit, subject to the terms and conditions prescribed by SBI, eliminating the need to prematurely close the account in many situations.
- Partial payment of the monthly instalment is permitted as per the Bank’s rules, and advance payment of instalments does not affect the predetermined maturity value of the deposit.
- Interest earned under the scheme is subject to the applicable Income Tax provisions, including TDS, wherever applicable under the prevailing rules.
Eligibility Conditions Required to be Fulfilled
Applicants must fulfil the following eligibility conditions to open an account under the SBI Har Ghar Lakhpati Scheme.
- The applicant should be an individual resident customer eligible to open a Recurring Deposit account with the State Bank of India.
- The account can be opened either singly or jointly with another eligible individual, subject to SBI’s account opening guidelines.
- Minors aged 10 years or above who are able to sign uniformly may open and operate the account in their own name as permitted by the Bank.
- Minors below 10 years of age can open the account only through their parent or legal guardian.
- The applicant must complete the Know Your Customer (KYC) formalities and satisfy all account opening requirements prescribed by SBI.
- The depositor should agree to deposit the fixed monthly instalment applicable for the selected maturity amount and tenure throughout the deposit period.
- The account holder can choose a target maturity value of ₹1 lakh or its multiples, with an eligible deposit tenure ranging from 3 years to 10 years, as per the terms of the scheme.
Documents Required to be Attached
Applicants opening an SBI Har Ghar Lakhpati Scheme account should keep the following documents and details ready to complete the account opening process and KYC verification.
- Identity Proof such as Aadhaar Card, PAN Card, Passport, Voter ID Card, Driving Licence, or any other officially valid document accepted by SBI under its KYC guidelines.
- Address Proof as prescribed by the Bank for verifying the applicant’s residential address.
- Recent Passport-Size Photograph of the applicant, wherever required during account opening.
- SBI Savings Bank Account Details for setting up the Standing Instruction (SI) or Auto Debit facility to deposit the monthly instalment into the Recurring Deposit account.
- PAN Card or Form 60, wherever applicable, as per the prevailing banking regulations.
- For Minor Applicants: If the account is opened for a minor below 10 years of age, the parent or legal guardian must complete the account opening formalities. Minors aged 10 years or above who can operate the account independently may be required to submit the documents prescribed by SBI.
How Beneficiaries Can Apply to Avail the Benefit of this Scheme
Eligible customers can open an account under the SBI Har Ghar Lakhpati Scheme either by visiting the nearest State Bank of India branch or through SBI’s digital banking platforms, wherever the facility is available. Before applying, applicants should decide the target maturity amount and the deposit tenure so that the corresponding monthly instalment can be selected.
Step 1: Decide the target maturity amount you wish to accumulate, such as ₹1 lakh or its multiples, and choose a suitable deposit period between 3 and 10 years.
Step 2: Visit your nearest State Bank of India (SBI) Branch or log in to YONO SBI or SBI Internet Banking, if the facility for opening the scheme online is available.
Step 3: Select the Har Ghar Lakhpati Scheme under the Recurring Deposit or Deposit section and enter the required details, including the desired maturity amount and deposit tenure.
Step 4: Complete the required KYC verification, if applicable, by submitting the prescribed identity and address proof documents. Existing SBI customers with updated KYC records may not be required to complete this process again.
Step 5: The Bank will calculate the monthly instalment based on the selected maturity value, tenure, and applicable interest rate. Review the instalment amount carefully before proceeding.
Step 6: Link your SBI Savings Bank Account to activate the Standing Instruction (SI) or Auto Debit facility, so that the monthly instalment is deducted automatically on the scheduled date.
Step 7: Verify all the details, submit the application, and complete the account opening process. Once the account is activated, monthly instalments will be deposited automatically, and the maturity amount will be paid on completion of the selected tenure, subject to the terms and conditions of the scheme.
Note: The online application process and menu options available in YONO SBI or SBI Internet Banking may change from time to time. Applicants should follow the latest instructions available on the official SBI digital platforms while opening the account online.
Har Ghar Lakhpati vs Regular SBI Recurring Deposit: What Is the Difference?
Many customers assume that the SBI Har Ghar Lakhpati Scheme is a completely different savings product. In reality, it is a goal-based variant of the SBI Recurring Deposit (RD) Scheme and follows the same deposit rules, interest rates, and operating conditions as a regular SBI Recurring Deposit account.
The key difference lies in the way the deposit is planned. Under a regular SBI Recurring Deposit, customers first decide the monthly deposit amount, and the maturity value depends on the amount deposited, the applicable interest rate, and the selected tenure. In contrast, the SBI Har Ghar Lakhpati Scheme starts with the desired maturity amount. Customers choose a target amount of ₹1 lakh or its multiples, and SBI calculates the exact monthly instalment required to achieve that goal within the selected deposit period.
In simple terms, a regular SBI Recurring Deposit is suitable for customers who already know how much they can save every month, whereas the Har Ghar Lakhpati Scheme is ideal for customers who have a specific savings goal and want the Bank to determine the required monthly investment automatically. Apart from this goal-based planning approach, both products follow the same recurring deposit guidelines prescribed by the State Bank of India.
SBI Har Ghar Lakhpati Scheme Interest Rates
The SBI Har Ghar Lakhpati Scheme follows the prevailing State Bank of India Recurring Deposit (RD) interest rates. The applicable interest rate depends on the selected deposit tenure and the customer’s category, such as General Public, Senior Citizen, SBI Staff, or Staff Senior Citizen. The current interest rates are given below.
| Deposit Tenure | General Public | Senior Citizen | SBI Staff | Staff Senior Citizen |
|---|---|---|---|---|
| 3 Years | 6.55% | 7.05% | 7.55% | 8.05% |
| 4 Years | 6.55% | 7.05% | 7.55% | 8.05% |
| 5 Years | 6.30% | 6.80% | 7.30% | 7.80% |
| 6 Years | 6.30% | 6.80% | 7.30% | 7.80% |
| 7 Years | 6.30% | 6.80% | 7.30% | 7.80% |
| 8 Years | 6.30% | 6.80% | 7.30% | 7.80% |
| 9 Years | 6.30% | 6.80% | 7.30% | 7.80% |
| 10 Years | 6.30% | 6.80% | 7.30% | 7.80% |
Note: The above interest rates are based on the official SBI Har Ghar Lakhpati Scheme details and were last updated by the Bank on 11 November 2025. Since SBI revises Recurring Deposit interest rates from time to time, customers should verify the latest applicable rates on the official SBI website or at the nearest SBI branch before opening the account.
Important Links Available
- SBI Har Ghar Lakhpati Scheme – Official Page
- SBI Recurring Deposit (RD) Scheme Details
- SBI Deposit Products
- SBI Loan Against Time Deposit
Contact Details in Case of Help Needed
Customers seeking assistance regarding the SBI Har Ghar Lakhpati Scheme, account opening, monthly instalments, or other deposit-related services can contact the State Bank of India through the following official channels.
- Customer Care (Toll-Free):
- 1800 1234
- 1800 2100
- 1800 11 2211
- 1800 425 3800
- Toll Number: 080-26599990
- Email:
- Pensioners’ Helpline: 1800 11 0009 (24×7 Toll-Free)
- Branch Assistance: Customers may also visit the nearest State Bank of India (SBI) Branch for assistance with opening, operating, or managing their Har Ghar Lakhpati Scheme account.
Frequently Asked Questions (FAQs)
Q. What is the SBI Har Ghar Lakhpati Scheme?
Ans. The SBI Har Ghar Lakhpati Scheme is a special Recurring Deposit (RD) product offered by the State Bank of India that enables customers to accumulate a target maturity amount of ₹1 lakh or its multiples through fixed monthly instalments over a selected tenure.
Q. Who can open an account under the SBI Har Ghar Lakhpati Scheme?
Ans. Resident Individuals can open the account either singly or jointly. Minors aged 10 years or above may operate the account independently if permitted under SBI guidelines, while accounts for minors below 10 years must be opened through a parent or legal guardian.
Q. What is the minimum maturity amount available under the scheme?
Ans. The minimum target maturity amount under the SBI Har Ghar Lakhpati Scheme is ₹1 lakh. Customers may also choose higher maturity amounts in multiples of ₹1 lakh, subject to the applicable deposit conditions.
Q. How is the monthly instalment calculated?
Ans. The monthly instalment depends on the selected maturity amount, deposit tenure, and the applicable SBI Recurring Deposit interest rate. The Bank calculates the instalment automatically according to the official schedule.
Q. What interest rate is applicable under the SBI Har Ghar Lakhpati Scheme?
Ans. The scheme follows the prevailing SBI Recurring Deposit (RD) interest rates applicable to the General Public, Senior Citizens, SBI Staff, and Staff Senior Citizens. The applicable rate depends on the deposit tenure and the customer’s category.
Q. Can I withdraw my deposit before the maturity date?
Ans. Yes. Premature closure is permitted as per SBI’s applicable rules. However, the Bank may levy the prescribed penalty and pay interest according to the terms governing premature withdrawal of recurring deposits.
Q. Can I avail a loan against the Har Ghar Lakhpati deposit?
Ans. Yes. Customers may avail a loan or overdraft facility against the deposit, subject to the eligibility conditions, margin requirements, and interest rates prescribed by the State Bank of India.
Q. What happens if I miss a monthly instalment?
Ans. Delayed or missed instalments are handled according to the rules applicable to the SBI Har Ghar Lakhpati Scheme. Penalties or other actions, including account closure in specified cases, may apply if the prescribed conditions are not fulfilled.
Q. Is Auto Debit available for monthly instalments?
Ans. Yes. Customers can link their SBI Savings Bank Account and activate the Standing Instruction (SI) or Auto Debit facility so that the monthly instalment is deducted automatically on the scheduled due date.
Q. Where can I apply for the SBI Har Ghar Lakhpati Scheme?
Ans. Eligible customers can open the account by visiting the nearest State Bank of India Branch. Where available, the scheme may also be opened through YONO SBI or SBI Internet Banking by following the latest online account opening process.
Q. Where can I get the latest official information about the SBI Har Ghar Lakhpati Scheme?
Ans. Customers should refer to the official State Bank of India (SBI) website or visit the nearest SBI branch for the latest scheme features, interest rates, eligibility conditions, and account opening guidelines.
Tabassum is a government schemes researcher and writer with 5 years of experience tracking Central and State welfare scheme programmes across India. She has covered 500+ schemes spanning agriculture, women welfare, education, and housing, helping lakhs of beneficiaries understand their entitlements in simple language.