‘Amrit Vrishti’ Relaunched: State Bank of India (SBI) has once again launched its popular ‘Amrit Vrishti’ Fixed Deposit (FD) scheme. However, this time the interest rates of the scheme have been cut slightly. This scheme is for those who want good returns for fixed time, but do not want to open long -term FDs.
How much interest will be available on SBI Special FD now?
This time the duration of the Amrit Vrishti scheme has been kept at 444 days, but the interest rate has changed. now therefore :
Common customers will get 7.05% annual interest, which was 7.25% earlier. That is, there has been a cut of 20 basis points.
Senior citizens will now get 7.55% annual interest, which was 7.75% earlier.
Super Senior Citizens (above 80 years) will get 7.65% interest.
Although the interest rates may have been cut a bit, but this rate can still be considered more than many other FD schemes.
When have new interest rates have been applicable since?
According to SBI website, the new interest rates are applicable from 15 April 2025. This means that from now on, whatever customers will invest in this scheme, they will get the above interest rates.
How much interest is being received on the rest of FD of SBI?
In April 2025, interest rates on SBI’s general fixed deposit schemes range from 3.50% to 6.9%, depending on the duration of investment (7 days to 10 years). The highest interest is being received on FD of 2 to 3 years.
Senior citizens are getting interest ranging from 4% to 7.50% in SBI’s plans. It also includes the ‘SBI We-Care’ scheme, in which high interest rate is given on a period of 7 to 10 years.
What will be the penalty for breaking FD ahead of time?
If you break your FD before the fixed period, the bank collects penalty:
0.50% penalty will have to be paid on FD up to Rs 5 lakh.
FD of more than 5 lakhs and less than 3 crore will be fined 1%.
Therefore, it is necessary to make a plan keeping in mind its duration and need before doing FD.
SBI’s ‘Amrit Vrishti’ FD scheme can be a good option for those who want to invest money for about one and a half years and avoid risky options like stock market. Although the interest rate has been cut slightly, this rate being given by the country’s largest bank can still be considered attractive.