The Lakhpati Deposit Scheme is a savings plan designed to help individuals accumulate a substantial sum over a fixed period, typically reaching a goal of one lakh (100,000) rupees. Depositors contribute a fixed amount every month towards the scheme. The scheme is available for various tenures, commonly ranging from 1 year to 10 years, depending on the depositor’s preference and financial goals. Competitive interest rates that help in the accumulation of the desired amount. The interest is typically compounded quarterly, semi-annually, or annually.
Lakhpati Deposite Scheme Plan
- Deposit Rs.1000/- per month upto 75 Months which ideally should be Rs. 1,00,000/- (One Lakh Rupees).
- Deposit Rs.500/- per month upto 75 Months which ideally should be Rs. 50,000/- (Fifty Thousand Rupees).
Safe Investment
Low-risk investment with guaranteed returns, making it suitable for risk-averse individuals.
Flexible Tenure Options
The tenure can range from 1 year to 5 years, depending on the customer's preference.
Attractive Interest Rates
Competitive interest rates, often compounded quarterly, providing good returns on the deposits.
Tax Benefits
Depending on the scheme and the institution, there might be tax benefits under certain sections of the Income Tax Act.
Nomination Facility
Allows the account holder to nominate a beneficiary.
Financial Planning
Ideal for planning for future expenses like education, marriage, or any significant purchase.