India’s largest public sector bank, State Bank of India (SBI) has presented a great opportunity for its customers. If your account is in SBI, now you will get more interest on fixed deposits (FD). This new initiative will be available by 31 March 2025 and includes several special schemes. Let’s know all the important information related to this news.
SBI’s new interest rates and plans
SBI has increased the interest rates of some of its special FD schemes, which will give more returns to customers. These schemes are especially beneficial for those who want to increase their money safely.
Brief description of SBI FD schemes
| Name of the scheme | Interest rate (general citizen) | Interest rate (senior citizen) | Duration |
| Amrit Kalash FD | 7.10% | 7.60% | 40 days |
| Amrit Vrishti FD | 7.25% | 7.75% | 444 days |
| Normal fd | 6.50% – 7.00% | 7.00% – 7.50% | Various periods |
| Tax-service fd | 6.50% | 7.50% | 5-10 years |
Amrit Kalash and Amrit Vrishti FD Schemes
SBI has launched special schemes like Amrit Kalash (400 days) and Amrit Vrishti (444 days). On investing in these schemes, customers will get the benefit of more interest than normal FD.
Amrit Kalash FD Scheme
- Interest Rate for General Citizens: 7.10% per year
- Interest Rate for Senior Citizens: 7.60% per year
- Minimum investment amount: ₹ 1,000
- No limit to maximum investment amount
Amrit Vrishti FD Scheme
- Interest Rate for General Citizens: 7.25% per year
- Interest Rate for Senior Citizens: 7.75% per year
- Duration: 444 days
- The scheme is also available till March 2025.
Other major FD schemes of SBI
SBI is also providing attractive interest rates on its regular FD schemes. Below is the details of interest rates for different periods:
| Duration | General citizen | Senior citizen |
| 7 days to 45 days | 3.50% | 4.00% |
| 46 days to 179 days | 5.50% | 6.00% |
| 180 days to 210 days | 6.25% | 6.75% |
| 211 days to 1 year | 6.50% | 7.00% |
| From 1 year to 2 years | 6.80% | 7.30% |
| From 2 years to 3 years | 7.00% | 7.50% |
| More than 3 years | 6.75%-6.50% | 7.25%-7.50% |
SBI WeCare Scheme
SBI has introduced a special plan “WeCare” for senior citizens. In this, they get additional interest compared to normal FD.
- Duration: 5 years and above
- Interest Rate: 7.50% per year
Tax Saving FD
SBI’s tax saving FD is a great option for customers who want to save tax:
- Minimum lock-in period: 5 years
- Interest Rate:
- General Citizen: 6.50%
- Senior Citizen: 7.50%
SBI Green Rupee Term Deposit (SGRTD)
This is a unique scheme in which deposits are used in environmental projects like renewable energy, water management etc.
- Duration:
- Retail Deposit:
- General Citizen: 6.65%-6.40%
- Senior Citizen: 7.15%-6.90%
- Retail Deposit:
Benefits of investing on FD
- Safe and stable returns
- Tax savings option
- Additional benefits to senior citizens
- Investment facility through both online and offline means
How to apply?
- Go to SBI branch and apply.
- Apply online through SBI YONO app or internet banking.
- You can start investing from minimum ₹ 1,000.
Disclaimer:
This article is written only for the purpose of providing information. Slaves given by SBI can change from time to time. Please contact the bank’s official website or branch before investing.
