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SBI Child Fixed Deposit Scheme Is a risk-free investment scheme that helps children meet their needs as they grow up. Through this secure investment scheme, investors can get a lot of money through long-term investment.
This is a plan created by SBI with a safe future for children in mind. SBI’s FD provides guaranteed returns to depositors, making it a safe bet for people with a low-risk appetite.
SBI sets interest rates on this scheme only based on the interest rates set by the Reserve Bank of India. The SBI Child Plan Deposit Investment Scheme is very helpful for all costs of education and marriage for children.
SBI offers customers two types of plans under this scheme.
1) Smart Champ Insurance
2) SBI Life Smart Scholar.
SBI Life Smart Champ Insurance
Individuals during the age of 21 and 50 This policy is available. This is SBI’s plan to help you ensure your child’s education. At the age of 18, children can benefit from this scheme in four installments. The maximum age of the policy buyer’s child must be 13 years. This means that only parents of children up to the age of 13 can take advantage of this policy.
A monthly investment of Rs 10,000 in this scheme will earn Rs 1 without tax deductions! 46,800 can be saved under income tax section 80C. Premiums can be paid annually, semi-annually, quarterly or monthly. In case of emergency, the insured will receive the amount according to the policy.to 105% of total guarantee The amount is received this way. You are also eligible for a tax credit by investing in this scheme.
SBI Life Smart Scholar Scheme
Parents between the ages of 18 and 57 can invest in this scheme.The maturity age of children under this scheme 18-25 years old.. The SBI Smart Scholar scheme gives you the opportunity to secure your child’s future with market profits. Investors also have access to a variety of premium payment options.
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