India’s largest public sector bank, the State Bank of India, has launched a special Fixed Deposit scheme offering better returns than its regular FD. Named the “Amrit Vrishti Fixed Deposit Scheme,” it is a limited-time offer. The scheme was launched on July 16, 2024, and will remain open for investment until March 31, 2025.
Throughout this article, we will briefly share all the details about the Amrit Vrishti Fixed Deposit Scheme.
Extra Benefits Available in Amrit Vrishti Fixed Deposit Scheme
- 7.25% annual interest rate for regular customers
- 7.75% annual interest rate for senior citizens
Understand How Much Interest Will Be Received with an Example
If an FD of ₹1 lakh is made for 444 days (1.2 years), it will give:
- ₹1,09,133.54 (₹9,133.54 interest) for regular customers
- ₹1,09,787.04 (₹9,787.04 interest) for senior citizens
Some Other Special Features of Amrit Vrishti Fixed Deposit Scheme
- You can start with ₹1,000, and there is no upper limit.
- Domestic and NRI customers can make deposits of less than ₹3 crore.
- Any investor can invest money on a monthly, quarterly, or half-yearly basis.
Should You Invest in the Amrit Vrishti Fixed Deposit Scheme?
The Amrit Vrishti Fixed Deposit Scheme offers higher returns compared to SBI’s regular FD schemes. For investors looking for maximum returns in a short period, this scheme is an attractive option. Senior citizens, in particular, can benefit from an impressive 7.75% interest rate.
How to Invest in the Amrit Vrishti Fixed Deposit Scheme?
You can open a deposit under the Amrit Vrishti Fixed Deposit Scheme through the following methods:
- Visiting an SBI branch
- Using the YONO SBI or YONO Lite mobile apps
- Accessing SBI Internet Banking
Disclaimer: For any financial investment anywhere on your responsibility, Times Bull will not be responsible for it.