SBI Amrit Vrishti FD: State Bank of India, one of the largest banks in the country, has given a big shock to its customers. SBI has announced a cut in the interest rates on its most special fixed deposit plan, i.e. Amrit Vrishti Yojana. The bank has not made any changes in the interest rates of any other regular FD scheme.
This is a shock for the people associated with the Amrit Vrishti Yojana. These rates took effect as of June 15, 2025. It is clear that, starting from June 15, fixed deposits will earn less interest than before. Even before this, some banks had announced a reduction in FD rates. Now, after this change, you can carefully determine how much interest can be obtained in the Amrit Vrishti Yojana below.
How much interest will be available on Amrit Vrishti
If your name is linked to the Amrit Vrishti FD scheme, then SBI has now decided to cut the interest rates. There has been a 25-basis-point cut on the Amrit Vrishti Deposit Scheme. The interest rates on FDs of 444 days have been reduced from 6.85% to 6.60%. Senior citizens associated with this scheme will receive additional benefits.
Senior citizens will earn 7.10 per cent interest per annum on this special FD scheme. SBI has also shocked its customers following the 50-basis-point fall in the repo rate by the Reserve Bank of India. Many people are associated with the Amrit Vrishti Yojana, and as a result, they experience disappointment. The new interest rate took effect on June 15, 2025.
How much penalty will be charged in this scheme?
For your information, please note that if you break the FD before the maturity deadline, a penalty will be imposed. A penalty of 0.50 per cent is imposed for prematurely breaking retail Fixed Deposits (FDs)up to Rs 5 lakh. A penalty of 1% will be imposed on prematurely breaking Fixed Deposits (FDs ) of less than Rs 5 lakh to Rs 3 crore. Apart from this, no interest will be available on FDs of less than 7 days.