Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Scheme purposeA customised recurring deposit intended to accumulate ₹1 lakh or more through small monthly savingsView source
identifies as a new Recurring Deposit variant, not a guaranteed investment return or separate savings account.
- Source
- Har Ghar Lakhpati
- Page / section
- Scheme introduction and Salient Features rows 1-2
- Accessed
- 12 Aug 2026
- Confidence
- high
Eligible customersResident individuals may open singly or jointlyView source
The reviewed page expressly limits the scheme to resident individuals.
- Source
- Har Ghar Lakhpati
- Page / section
- Salient Features row 3 — Eligible customers
- Accessed
- 12 Aug 2026
- Confidence
- high
Minor accountsA minor above 10 years who can sign legibly may open alone; otherwise the account is opened with a parent or legal guardianView source
Age above ten and ability to sign legibly are both stated conditions for a minor opening alone.
- Source
- Har Ghar Lakhpati
- Page / section
- Salient Features row 3 — Eligible customers
- Accessed
- 12 Aug 2026
- Confidence
- high
Selectable maturity target₹1 lakh or a multiple of ₹1 lakh, using the corresponding SBI-calculated monthly instalment and tenorView source
Instalments are pre-calculated; customers select the target multiple and tenor rather than an arbitrary fixed contribution.
- Source
- Har Ghar Lakhpati
- Page / section
- Salient Features rows 4 and 6
- Accessed
- 12 Aug 2026
- Confidence
- high
Deposit period3 to 10 yearsView source
minimum period is longer than the one-year minimum shown on general recurring-deposit page.
- Source
- Har Ghar Lakhpati
- Page / section
- Salient Features row 7
- Accessed
- 12 Aug 2026
- Confidence
- high
₹1 lakh maturity illustrationFor tenors 3/
The page also gives staff and staff-senior-citizen examples. labels the chart illustrative and says the instalment changes with interest rates, so these amounts are historical examples rather than current quotes.
- Source
- Har Ghar Lakhpati
- Page / section
- Maturity Amount ₹1,00,000 — Table A
- Accessed
- 12 Aug 2026
- Confidence
- high
Illustrative 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 2025View source
later retail deposit table effective 15 December 2025 publishes different general card rates for relevant tenors. Obtain a current instalment quote instead of relying on the November chart.
- Source
- Har Ghar Lakhpati
- Page / section
- Interest Rate — Table B and chart disclaimer
- Accessed
- 12 Aug 2026
- Confidence
- high
Partial and advance instalmentsPartial payment of an instalment is allowed; paying an instalment in advance does not change the maturity valueView source
Advance payment does not increase the stated maturity value, while delayed payment reduces it through penalties.
- Source
- Har Ghar Lakhpati
- Page / section
- Salient Features rows 5 and 10
- Accessed
- 12 Aug 2026
- Confidence
- high
Maturity 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 laterView source
applies the later of the two timing tests and rounds the maturity value to the nearest rupee.
- Source
- Har Ghar Lakhpati
- Page / section
- Salient Features row 8
- Accessed
- 12 Aug 2026
- Confidence
- high
Premature-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 daysView source
The page describes the threshold as principal and applies the penalty for all tenors.
- Source
- Har Ghar Lakhpati
- Page / section
- Salient Features row 9
- Accessed
- 12 Aug 2026
- Confidence
- high
Delayed-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 paidView source
says the delayed-payment rates may change from time to time.
- Source
- Har Ghar Lakhpati
- Page / section
- Salient Features row 12 — Account in default
- Accessed
- 12 Aug 2026
- Confidence
- high
Unregularised-default service charge₹10 when an RD paid on or after maturity has three or more consecutive instalment defaults and was not regularisedView source
The charge is conditional on all three published elements: payout timing, consecutive defaults and non-regularisation.
- Source
- Har Ghar Lakhpati
- Page / section
- Salient Features row 13
- Accessed
- 12 Aug 2026
- Confidence
- high
Closure after missed instalmentsSix consecutive missed instalments cause premature closure and transfer or payment of the balance to the holder's linked savings accountView source
The page specifies payment or transfer to the linked savings bank account after premature closure.
- Source
- Har Ghar Lakhpati
- Page / section
- Salient Features row 14
- Accessed
- 12 Aug 2026
- Confidence
- high
Tax deduction at sourceApplicable according to Income Tax rulesView source
The page does not state a fixed rate or threshold, so none is inferred.
- Source
- Har Ghar Lakhpati
- Page / section
- Salient Features row 11
- Accessed
- 12 Aug 2026
- Confidence
- high
Senior-citizen rateFor retail deposits below ₹3 crore, the senior-citizen rate is 3.55% for 7–45 days, 5.40% for 46–179 days, 6.15% for 180–210 days, 6.40% for 211 days to under 1 year, 6.75% for 1 to under 2 years, 6.90% for 2 to under 3 years, 6.80% for 3 to under 5 years, and 7.05% for 5 to 10 years. Rates are effective 15 December 2025; the 5–10-year rate includes the 50-basis-point SBI We-care premium.Effective 15 Dec 2025View source
The issuer publishes separate revised senior-citizen rows for each tenor and notes that We-care adds 50 bps to the 5–10-year rate.
- Source
- Retail Domestic Term Deposits - Interest Rates
- Page / section
- Revision in Interest Rates on Retail Domestic Term Deposits (Below ₹3 crore)
- Accessed
- 28 Aug 2026
- Confidence
- high
Interest rateThe dated HGL illustration uses 6.55% p.a. for general-public 3–4-year examples and 6.30% p.a. for 5–10-year examples; the corresponding senior-citizen examples use 7.05% and 6.80%. These are illustrative rates from the 11 November 2025 chart and may change.Effective 11 Nov 2025View source
The official page labels its rate and instalment chart as a dated illustration; rates are subject to change and are not a live quote.
- Source
- Har Ghar Lakhpati (New Variant of Recurring Deposit Scheme)
- Page / section
- Maturity Amount tables — dated illustration
- Accessed
- 28 Aug 2026
- Confidence
- high
Minimum instalmentMonthly instalments are pre-calculated from the selected ₹1 lakh (or multiple) maturity target and 3–10-year tenor; the page does not publish one universal minimum instalment.Effective 11 Nov 2025View source
The official table states that instalments are pre-calculated in Annexure II rather than giving a single universal minimum; the smallest published target is ₹1 lakh.
- Source
- Har Ghar Lakhpati (New Variant of Recurring Deposit Scheme)
- Page / section
- Salient Features — Minimum and Maximum amount of instalment
- Accessed
- 28 Aug 2026
- Confidence
- high
Interest payout / redemptionThe published monthly-instalment and interest tables were last updated 11 November 2025 and are illustrative, not a current quote.View source
The manually reviewed product record states: “The published monthly-instalment and interest tables were last updated 11 November 2025 and are illustrative, not a current quote.”.
- Source
- Har Ghar Lakhpati Recurring Deposit — official product page
- Page / section
- Published product metadata
- Accessed
- 12 Aug 2026
- Confidence
- high
Benefits 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 page does not publish a dedicated document checklist or online application link.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- and account-opening documents requested by ; the reviewed Har Ghar Lakhpati page does not publish a dedicated checklist
Related official documents
Har Ghar Lakhpati — official product pageofficial-product-page · current · accessed 28 Aug 2026
↗SBI Retail Domestic Term Deposit Ratesofficial-rate-table · current · accessed 12 Aug 2026
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