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
Welcome to Josh Money!
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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[bizouprasad]

Don't misguide. Your ₹28565 is not a monthly income, it's a quarterly income. Monthly income is ₹ 7, 141.

[punkedcrap]

compound quarterly at 5.4% for 5 years comes out at 1960000. Payout under this scheme at 28565/month for 5 years comes out at 1714000.. a loss of nearly 2.5 lakh. SBI wale master hai ghumane me..

[sumitmakhija]

Better to go with f d and ask for interest option Pay out every month. This will give u per month income

[kovitkumar]

Madam,
Investing 15, 00, 000 for 5 year means
Investing 25, 000 monthly
i.e 25, 000 x 60 month
That means we are getting
And
28564 x 60 month = 17, 13, 900
So we are getting
2, 13, 900,
That means
213900/60= 3565 rs extra per month

[mohammadsabri]

Bad plan in terms of return compare to inflation. But good for those who don’t know much on how to invest

[tryabhijit]

Really good video. But you have not mentioned anything about income tax deduction related to this scheme. How TDS will be deducted? Is this amount 28k+ is after TDS or not? Do I need to pay taxes on whole monthly payout or only on interest part? How this will be calculated? Kindly add all these & let us know. Keep doing the good work. All the best 👍

[subhasismondal]

15 lakh fd @5.4% after 5 years 1961401
1961401/60 = 32690
So not a good option might be suitable for only few people.

[VikasSharma-xswo]

5.4% of 15 lakh is around 81, 000/year. Means 6, 750 rs/month. But you said 28, 000/month.
Please explain your calculation.

[vinayakgaikwad]

Practically when we go to SBI for such a scheme they don't have any interest and they said don't invest in this scheme.

[sumitghosh]

28565 is not monthly payment, it may be quarterly payment. 15 lakhs pe 5.4 interest rate pe 28k+ monthly milna possible nehi hai.Here you have choosen monthly payment, but compounding quarterly. So, payout value me 1 quarter me kitna milega wo show ho raha hai.

[princedalal]

Q1. Grow n Kotak Securities app me is Mutual fund me SWP ka option nahi dikh rha hai? To kis aap se invest kare? SWP ka option kese or kaha se select hoga ?

Q2. Return monthly bank account me ayega ? Monthly amount withdraw hoga ?
Please advise

[pankajdey]

Good scheme... after the first installment you can carry and open a recurring deposit also.so can double the intrest.

[maheshdesale]

3565 interest per month + 25000 from 15 lakh deposited amount 28565 EMI means after 5 year's you will get nothing

[rasikapawar_]

If someone goes to deposit amount for this scheme, he'll not dare to re-enter the bank to receive monthly return. Just horrible experience in almost all branches...

[neerajchopra]

Unmatched narration . Crisp & effective

[MrYatin]

I have purchased a room in chawl in mumbai western location in

Room rent per month - 11000
1 year - 1’32’000
5 year - 6’60’000

Just a idea sharing

[sandipbose]

Monthly 28 thausand its impossible against 15 lakh.

[dattatraypratapwar]

Very nice information, Madam
Thank you .

[sunmoon]

Very similar to fd...as fd also got monthly payout option while having invested the lumpsum amt for fixed tenure

[SaurabhSingh-uuwe]

Suppose u want to do SIP of 28565 rs per month in ur selected mutual fund for five years. U need rs.28565x12x5=1713900.
But if u deposit now in this scheme u can run ur sip with monthly income for next five years. Instead of 1713900 u need only.