SBI FD: SBI’s Amrit Vrishti scheme is a time-bound fixed deposit (FD) program offering an elevated interest rate. Its duration is 444 days. SBI offers a 7.25 percent interest rate for regular citizens, whereas senior citizens receive a 7.75 percent interest rate through this guaranteed return plan.
Accessible to both resident and non-resident Indian clients
The program is accessible to both resident and non-resident Indian clients. The program began on July 15, 2024, and will be accessible until March 31, 2025.
You will be required to pay a fee for early withdrawal as detailed below:
– 0.50% for deposits not exceeding Rs. 5 hundred thousand
– 1% for deposits exceeding Rs. 5 lakh yet under Rs. 30 million
– No consequences for employees and SBI retirees
Interest rate of 6.80 per cent on a 1-year fixed deposit
SBI offers an interest rate of 6.80 per cent on a 1-year fixed deposit. SBI offers an interest rate of 6.75 percent on a 3-year fixed deposit. For a 5-year FD, SBI offers an interest rate of 6.50 percent. Senior citizens investing Rs 3,00,000 will receive Rs 29558.32 as interest at a rate of 7.75 percent, with a total maturity amount of Rs 329558.32.
Ordinary citizens will receive interest at a rate of 7.25 percent
While ordinary citizens will receive Rs 27572.34 in interest at a rate of 7.25 percent, the total maturity amount will be Rs 327572.34. For a Rs 5,00,000 investment.
Senior citizens will get interest at a rate of 7.75 percent
Senior citizens will obtain Rs 49263.86 in interest at a rate of 7.75 percent, with a maturity amount of Rs 549263.86. In contrast, regular citizens will receive Rs 45953.90 in interest at a rate of 7.25 percent, and the total maturity amount will be Rs 545953.90.
Disclaimer : For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.
Pritam Santra
Author at TimesBull covering breaking news and current affairs.
