SBI Har Ghar Lakhpati Deposit Scheme

Q: What is shown in the Premature Closure Calculator?

It estimates total deposits made, applicable premature closure penalty, and the approximate net payable amount as per SBI rules.

Q: How does the default or delay penalty calculator work?

It calculates penalties for delayed installments based on tenure length, as defined by SBI guidelines.

Q: Is the calculator officially provided by SBI?

No. This calculator is an informational tool and not an official SBI calculator.

Because becoming a Lakhpati should feel achievable, not intimidating.

The SBI Har Ghar Lakhpati Deposit Scheme is not just another recurring deposit. It is a quiet promise that even small monthly savings, when nurtured with discipline, can turn into ₹1,00,000 or more.

What is SBI Har Ghar Lakhpati Scheme?

Launched by the State Bank of India, the Har Ghar Lakhpati (HGL) scheme is a specially designed Recurring Deposit (RD) plan. Its objective is simple yet powerful: help every Indian household accumulate at least ₹1 lakh through affordable monthly deposits.

This scheme is ideal for people who believe that wealth is not built overnight, but month by month — quietly, consistently, and safely.

How Does It Work?

You choose a tenure between 3 to 10 years and your customer category (General Public, Senior Citizen, Staff, or Staff Senior Citizen). Based on prevailing interest rates, SBI pre-calculates the exact monthly deposit required to reach ₹1 lakh on maturity.

Fixed monthly installment
Guaranteed maturity amount
No exposure to market risks
Higher interest for senior citizens & staff

Maturity Table – ₹1,00,000 Target

Period → Years	3 Years	4 Years	5 Years	6 Years	7 Years	8 Years	9 Years	10 Years
General Public	2510	1820	1420	1150	960	810	700	610
Senior Citizen	2500	1810	1410	1130	940	800	680	600
Staff	2480	1790	1390	1120	920	780	670	580
Staff Senior Citizen	2450	1780	1370	1100	910	760	650	560

Source: SBI

Main RD Calculator

Category:

Tenure (Years):

Premature Closure Calculator

Months Completed:

Total Monthly Installment (₹):

Default / Delay Penalty Calculator

Monthly Installment (₹):

Tenure Type:

Delayed Months:

Defaults, Delays & Closures Explained

Life happens — SBI understands that. Delayed installments attract small penalties, but they never exceed the interest earned. However, six consecutive missed installments can lead to premature closure.

Interest Rate Explained

Period → Years	3 Years	4 Years	5 Years	6 Years	7 Years	8 Years	9 Years	10 Years
General Public	0.0655	0.0655	0.063	0.063	0.063	0.063	0.063	0.063
Senior Citizen	0.0705	0.0705	0.068	0.068	0.068	0.068	0.068	0.068
Staff	0.0755	0.0755	0.073	0.073	0.073	0.073	0.073	0.073
Staff Senior Citizen	0.0805	0.0805	0.078	0.078	0.078	0.078	0.078	0.078

Source: SBI

Why This Scheme Feels Personal

Har Ghar Lakhpati is not about aggressive investing. It is about hope, discipline, and the confidence that your future is quietly growing, one month at a time.

📘 Frequently Asked Questions

How does the SBI Har Ghar Lakhpati main RD calculator work?

The main SBI Har Ghar Lakhpati calculator shows the fixed monthly deposit required to achieve a guaranteed maturity amount of ₹1,00,000. It also displays the total amount deposited over the selected tenure, calculated as monthly deposit multiplied by 12 months and the chosen number of years.

Does the main Har Ghar Lakhpati calculator calculate interest?

No. The Har Ghar Lakhpati scheme is a target-based recurring deposit. The calculator does not compute interest separately. Instead, it uses SBI’s pre-calculated monthly installment amounts to ensure a guaranteed maturity value of ₹1,00,000.

What is shown in the Premature Closure Calculator?

The premature closure calculator estimates the total amount deposited until the date of closure, the applicable penalty as per SBI rules, and the approximate net amount payable. A penalty of 0.50% applies if the principal is up to ₹5 lakh, and 1% if it exceeds ₹5 lakh.

Is premature closure penalty included in the main calculator?

No. Premature closure penalties are calculated separately to keep the main Har Ghar Lakhpati calculator simple and accurate. This separation ensures clarity and avoids confusion for users who are only planning regular savings.

How does the default or delay penalty calculator work?

The default or delay penalty calculator estimates penalties for late installment payments. For tenures up to 5 years, the penalty is ₹1.50 per ₹100 per month. For tenures above 5 years, the penalty is ₹2.00 per ₹100 per month, subject to SBI rules.

What happens if installments are not paid for several months?

If six consecutive installments are not paid, the SBI Har Ghar Lakhpati RD account may be prematurely closed and the balance amount transferred to the linked savings account, as per SBI guidelines.

Is the calculator officially provided by SBI?

No. This calculator is an informational tool created to help users understand the SBI Har Ghar Lakhpati Deposit Scheme. Actual installment amounts, penalties, and payouts are governed by State Bank of India’s official terms and conditions.

Disclaimer: The data provided here is collected from publicly available sources.

While every effort has been made to ensure accuracy, some typographical, coding, or other errors may exist.

Please verify details with the relevant official website.