SBI FD Scheme: SBI is giving 7.85% interest in Amrit Vrishti scheme for 444 days, know how to invest

SBI Bank: State Bank of India (SBI) has discontinued its famous Amrit Kalash Fixed Deposit (FD) scheme from April 1, 2025. This special FD of 400 days used to give 7.10% annual interest to regular customers and 7.60% annual interest to senior citizens, making it one of the most attractive schemes in the market.

SBI Bank: State Bank of India (SBI) has discontinued its famous Amrit Kalash Fixed Deposit (FD) scheme from 1 April 2025. Regular customers used to get 7.10% and senior citizens 7.60% annual interest on this special FD of 400 days, making it one of the most attractive schemes in the market. This scheme has been discontinued at a time when the Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI) is about to take place. Due to this, most banks are reworking their FD schemes. Many banks are closing their special FDs and many banks have also reduced interest on FDs.

These banks have reduced interest on FDs

HDFC Bank, Yes Bank, Bank of Baroda and Punjab & Sind Bank have already cut FD rates, indicating the beginning of a big trend.

SBI’s new offer: Amrit Vrishti FD

For investors who have missed Amrit Kalash FD, SBI has introduced a new option – Amrit Vrishti FD Sakm. This is a special deposit scheme of 444 days, in which general customers are being given 7.25%, senior citizens 7.75% and super senior citizens above 80 years of age 7.85% annual interest. These rates are applicable from 3 January 2025.

What is SBI Amrit Vrishti Scheme?

  • This is a term deposit scheme, which has a period of 444 days. That is, money will be invested in it for 44 days.
  • General customers will get 7.25% annual interest.
  • Senior citizens will get the benefit of 7.75% interest rate.
  • Domestic and NRI customers can avail the benefit of this scheme.

Terms and Conditions of the Scheme

  • This scheme will be applicable to those fixed deposits whose investment amount is less than ₹3 crore.
  • This rule can also be applicable on new deposits and renewal of existing deposits.
  • It will not be applicable to recurring deposits, tax saving deposits, annuity deposits and multi-option deposits.

Benefits of the scheme

  • The minimum investment amount is ₹1,000.
  • There is no limit on maximum investment.
  • Interest will be paid on monthly, quarterly or half-yearly basis.

How to invest?

Customers can invest through SBI branches, YONO SBI and YONO Lite mobile apps or internet banking. This scheme will be automatically implemented if a period of 444 days is selected.

The post SBI FD Scheme: SBI is giving 7.85% interest in Amrit Vrishti scheme for 444 days, know how to invest first appeared on informalnewz.

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