SBI Amrit Vrishti Scheme: The SBI, India’s largest public sector lender, has re-introduced the Amrit Vrishti scheme which provide the best returns in a short time. The scheme was launched on 16 July 2024. The scheme offers a tenure of 444 days but comes with a modification in the interest rates, which have seen a slight decrease from its previous rates. Notably, the Indian residents and Non-Resident Indians (NRIs) can invest in this scheme.
SBI Amrit Vrishti Scheme Interest Rate For Senior Citizen
The SBI Amrit Vrishti Scheme offers attractive interest rates to its customers. General customers can earn an interest rate of 7.25% per annum. After a reduction of 20 basis points (bps) in interest rates, the bank now offers a revised rate of 7.55% per annum for senior citizens, down from the earlier 7.75% per annum. Adding further, SBI provides special interest rate benefits for its staff and staff pensioners under this scheme.
SBI Amrit Vrishti Scheme: Minimum Amount And SBI FD Rates
The minimum amount a person can invest in the SBI Amrit Vrishti scheme is Rs 1,000, with no maximum investment limit. As of April 2025, the SBI offers FD interest rates ranging from 3.50 per cent to 7.00 per cent per annum for general customers, depending on the tenure of the deposit.
For senior citizens, the rates are more favorable, spanning from 4.00% to 7.50% per annum, including special schemes like “SBI WeCare,” which provides an additional premium for longer tenures.
SBI Amrit Vrishti Scheme: Premature Withdrawal
For retail term deposits of up to Rs 5 lakhs, a penalty of 0.50 per cent will be levied across all tenures in case of premature withdrawal. For deposits above Rs 5 lakhs but below Rs 3 crores, the penalty increases to 1 per cent. Adding further, no interest will be paid on deposits withdrawn before completing 7 days, reflecting the bank’s emphasis on promoting longer-term savings.
How To Invest In SBI Amrit Vrishti Scheme
Step 1: Log in to your SBI Net Banking account by entering your user ID and password.
Step 2: Navigate to the ‘Deposit & Investment’ tab, then select the ‘Deposit’ option.
Step 3: Click on ‘Fixed Deposit’ to begin the process of opening a new FD.
Step 4: Choose the type of deposit account, click on ‘Proceed’, and then select the savings account from which funds will be debited.
Step 5: Enter the principal amount, select the term deposit option, choose ‘Days’ as the tenure type, enter ‘444’ days, set your maturity instructions, agree to the terms and conditions, and finally click on the ‘Submit’ button to complete your investment in the SBI Amrit Vrishti Scheme.
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