SBI Amrit Vrishti FD: If you are looking to save money while earning secure returns, SBI’s ‘Amrit Vrishti’ special fixed deposit (FD) scheme could be an excellent option. You can invest funds in this FD for a tenure of 444 days. It offers higher interest rates to senior citizens compared to the general public. Before investing, it is worth knowing how much you might receive upon maturity for a deposit of ₹1 lakh. Let’s take a look at the interest rates, investment limits, and the process for opening this FD.
How much interest will you earn on ₹1 lakh?
According to the details, for a 444-day FD, the annual interest rates are 6.45% for general investors, 6.95% for senior citizens, and 7.05% for super senior citizens (aged 80 years or older).
Interest and Maturity Amount on an Investment of ₹1 Lakh (for 444 Days)
| Investor Category | Annual Interest Rate | Estimated Interest | Total Amount at Maturity |
|---|---|---|---|
| General Citizen (under 59 years) | 6.45% | ₹8,094.36 | ₹108,094.36 |
| Senior Citizen (60 years or older) | 6.95% | ₹8,742.92 | ₹108,742.92 |
| Super Senior Citizen (80 years or older) | 7.05% | ₹8,873.00 | ₹108,873.00 |
For an investment of ₹1 lakh, general investors can earn approximately ₹8,094 in interest. Senior citizens can earn approximately ₹8,743, while those aged 80 years or older can earn approximately ₹8,873 in interest. The final maturity amount will be determined based on the bank’s interest calculation methods and applicable regulations.
SBI Amrit Vrishti FD Features
You can start an FD under this SBI scheme with a minimum deposit of ₹1,000. According to the available information, the maximum deposit limit is ₹3 crore. Additionally, it is possible to obtain a loan against this FD. The funds can be withdrawn upon the completion of the 444-day tenure. As per the bank’s rules, a penalty or a reduction in the interest rate may be applied; this could range from 0.50% to 1%. Certain specific terms and conditions may apply.
How to open an SBI Amrit Vrishti FD from home?
You do not need to visit a bank branch to open this special SBI FD. It can be opened online via the SBI YONO app or through internet banking.
First, log in to the SBI YONO app or SBI net banking.
Select the option to open a new FD.
Choose the ‘Amrit Vrishti FD’ from the list of available schemes.
Enter the investment amount and the required details.
Review the information regarding the tenure and interest rate, then confirm your application.
Once the FD is opened, the details will be reflected in your account.