Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Scheme purposeA customised recurring deposit intended to accumulate ₹1 lakh or more through small monthly savings
Source 1Eligible customersResident individuals may open singly or jointly
Source 2Minor accountsA minor above 10 years who can sign legibly may open alone; otherwise the account is opened with a parent or legal guardian
Source 3Selectable maturity target₹1 lakh or a multiple of ₹1 lakh, using the corresponding SBI-calculated monthly instalment and tenor
Source 4Deposit period3 to 10 years
Source 5₹1 lakh maturity illustrationFor tenors 3/
Source 6Illustrative interest-rate basisThe dated HGL chart uses 6.55% for general-public 3-4 year examples and 6.30% for 5-10 years; 7.05% and 6.80% respectively for senior citizens; it is subject to changeEffective 11 Nov 2025
Source 7Partial and advance instalmentsPartial payment of an instalment is allowed; paying an instalment in advance does not change the maturity value
Source 8Maturity dateThe rounded maturity value is paid 30 days or one month after the last instalment, or on expiry of the accepted deposit period, whichever is later
Source 9Premature-closure penalty0.50% for principal payment up to ₹5 lakh and 1% above ₹5 lakh; the payable rate is the lower of the elapsed-period rate or contracted rate after the applicable reduction, and no interest is paid if held under 7 days
Source 10Delayed-instalment penalty₹1.50 for every ₹100 per month for tenors of five years or less; ₹2 for every ₹100 per month for tenors over five years; total penalty cannot exceed interest paid
Source 11Unregularised-default service charge₹10 when an RD paid on or after maturity has three or more consecutive instalment defaults and was not regularised
Source 12Closure after missed instalmentsSix consecutive missed instalments cause premature closure and transfer or payment of the balance to the holder's linked savings account
Source 13Tax deduction at sourceApplicable according to Income Tax rules
Source 14Benefits and features
- Goal-based ₹1 lakh-or-multiple maturity design
- Three-to-ten-year tenure choices
- Resident adults and qualifying minors may participate
- Partial instalment payments are allowed
Eligibility
- Only resident individuals are listed; joint holding is allowed.
- A minor may operate alone only when above ten years and able to sign legibly; otherwise a parent or legal guardian is required.
- The published monthly-instalment and interest tables were last updated 11 November 2025 and are illustrative, not a current quote.
- Six consecutive missed instalments trigger premature closure.
- The reviewed HGL page does not publish a dedicated KYC document checklist or online application link.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- KYC and account-opening documents requested by SBI; the reviewed Har Ghar Lakhpati page does not publish a dedicated checklist