State Bank of India (SBI) has recently launched Amrit Vrishti Fixed Deposit Scheme, which is available to investors for a limited time with attractive interest rates. This scheme is a great option for those who want to increase their savings in a short time. SBI Amrit Vrishti FD Scheme started from 15 July 2024 and is available for investment till 31 March 2025. In this scheme, investors get the benefit of high interest rate on a fixed period of 444 days.
In this article, we will discuss the characteristics, benefits, interest rates, eligibility and other important information of this scheme so that you can decide whether this scheme is correct for you or not.
What is SBI Amrit Vrishti FD Scheme?
SBI Amrit Vrishti FD Scheme is a special fixed deposit scheme launched by State Bank of India. The scheme provides an attractive interest rate of 7.25% per year for general customers and 7.75% per year for senior citizens. The term of this scheme is only 444 days, which makes it a great option for short -term investment.
SBI Amrit Vrishti FD Scheme overview
| Name of the scheme | SBI Amrit Vrishti FD Scheme |
| Plan period | 15 July 2024 to 31 March 2025 |
| Tenure | 444 days |
| Interest Rate | General Customer: 7.25%Senior Citizen: 7.75% |
| Minimum investment amount | ₹ 1,000 |
| Maximum investment amount | No limit |
| Interest payment option | Monthly/quarterly/half -yearly/maturity |
| Premature withdrol | Available (with conditions) |
| Loan facility | Available |
The main features of SBI Amrit Vrishti FD Scheme
- High interest rates:
- 7.25% per year for normal customers.
- Additional 0.50% for senior citizens, ie total 7.75% per year.
- Fixed Tenure:
- The term of this scheme is only 444 days.
- Minimum investment amount:
- Investment can be started from ₹ 1,000.
- resilience:
- You can choose the option of interest payment on monthly, quarterly, half -yearly or maturity.
- Premature withdrawal and loan facility:
- You can take a loan on your deposits or withdraw a premature withdrawal according to the conditions.
- Online and offline availability:
- You can open this scheme through SBI branch, Yono app or internet banking.
SBI Amrit Vrishti FD Scheme interest rates
Investors get attractive interest rates in this scheme. Detailed information is given below:
| Customer category | Interest rate (per year) |
| General customer | 7.25% |
| Senior citizen | 7.75% |
For example:
- If a general customer invests ₹ 1,00,000, he will receive ₹ 1,09,133 on maturity.
- If a senior citizen invests ₹ 1,00,000, he will receive ₹ 1,09,787.
How to open SBI Amrit Vrishti FD Scheme?
Investing in this scheme is very easy. You can open an account in the following ways:
- Visiting the nearest SBI branch.
- Using the Yono app.
- SBI using internet banking portal.
Premature withdrawal rules
If you want to withdraw your deposits ahead of time then you have to follow the following conditions:
- 0.50% penalty on deposits up to ₹ 5 lakh.
- 1% penalty on deposits of less than ₹ 5 lakh but less than ₹ 3 crore.
- There will be no interest on withdrawal before seven days.
Benefits of SBI Amrit Vrishti FD Scheme
- Short -term investment: High returns in only 444 days.
- Additional benefits for senior citizens: high interest rate.
- Loan facility: Facility to obtain loan without breaking the deposit.
- Online facility: Facility to open account sitting at home.
Should you invest in this scheme?
If you want to increase your savings in a short term and are looking for a safe investment option, then this plan may be suitable for you. This is a great option, especially for senior citizens as they get the benefit of high interest rate. However, keep in mind the following things before investing:
- Your liquidity requirements.
- Tax liability (TDS will apply).
- Premature withdrawal rules.
conclusion
SBI Amrit Vrishti FD Scheme is a great option for those who want to invest safe and short -term. Its high interest rates and flexibility make it different from other fixed deposit schemes.
Disclaimer:
This article is written only for the purpose of providing information. Please contact your financial advisor or bank representative before investing. This scheme is real and beneficial but decide according to your personal financial status and requirements.
