SBI offers a special fixed deposit scheme called Amrit Vrishti, designed around a fixed tenure of 444 days. The scheme is available for eligible retail deposits below ₹3 crore and offers a higher interest rate to senior and super senior citizens compared with regular depositors.
Fixed deposits remain a popular choice among investors who prefer a predictable return on their savings. SBI’s 444-day Amrit Vrishti deposit provides a fixed tenure, allowing investors to know the applicable interest rate for the deposit period.
SBI Amrit Vrishti FD Interest Rate
Under the current rate structure, the SBI Amrit Vrishti FD offers 6.45% interest per year to general customers for the 444-day tenure. Senior citizens are eligible for an additional interest benefit, taking the rate to 6.95%, while super senior citizens aged 80 years and above can receive 7.05%, subject to SBI’s applicable rules.
The scheme is meant for retail term deposits below ₹3 crore. Deposits of ₹3 crore or more are treated separately under SBI’s bulk deposit category.
How Much Will ₹1 Lakh Earn?
For a simple illustration, a ₹1 lakh deposit under the 444-day Amrit Vrishti scheme would earn interest based on the applicable rate and SBI’s deposit calculation method.
At the current 6.45% rate for general customers, the interest earned depends on the selected deposit type and interest payout option. Senior and super senior citizens can receive higher returns because of the additional interest applicable to their category.
Investors should therefore check the maturity amount displayed by SBI at the time of booking the FD, as the final amount can vary according to the interest payout option and applicable terms.
Key Points Before Investing
The Amrit Vrishti deposit has a fixed tenure of 444 days. SBI also provides the facility through its banking channels, subject to the scheme’s terms. The bank’s official scheme document also specifies that a loan facility is available against the deposit.
Interest rates on fixed deposits can be revised by SBI from time to time. The rate applicable to an FD is generally determined by the terms in force when the deposit is booked, so investors should verify the latest rate and maturity value before making the investment.
Disclaimer: This article is for general informational purposes only. FD interest rates, eligibility conditions and other terms may change according to SBI’s latest rules. Investors should check the official SBI website or contact an SBI branch for the applicable rate and maturity amount before opening a deposit.