The State Bank of India (SBI) has launched a series of fixed deposit schemes for domestic and NRI customers. Interestingly, these FD schemes offer attractive interest rates to the customers. One such fixed deposit scheme is called Amrit Vrishti whcih offers attractive interest rates for both domestic and NRI customers.
Earlier, the SBI had launched other schemes such as SBI Amrit Kalash and SBI WeCare which were meant for both general and senior citizens.
Another scheme is called the SBI Amrit Kalash scheme which runs for 400 days and offers an interest rate of 7.10 percent per annum for general citizens. In these FD schemes from the SBI, senior citizens can get a higher rate of 7.60 percent.
SBI Fixed Deposit Scheme: Last Date
According to the SBI, the deadline to invest in this scheme is September 30. The SBI on its website said these interest rates have been applicable since April 12, 2023.
SBI Amrit Kalash
The SBI Amrit Kalash is a customer-centric scheme that offers attractive interest rates and caters to both domestic and non-resident Indian customers. As per the SBI website, “The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 30-September-2024.”
SBI WeCare
SBI WeCare has been designed exclusively for senior citizens whcih offers an additional interest rate of 50 basis points (bps) over the regular interest rates. This scheme is available for both new deposits and renewals. It will also be valid until September 30. On this note, let’s look at some SBI fixed deposit schemes:
SBI Amrit Vrishti
New FD scheme, the Amrit Vrishti Yojana offers a 7.25 percent interest rate for 444-day deposits. In theis new FD scheme, the senior citizens can earn an extra 0.50 percent interest. They can also take loans against these deposits. The deadline for this scheme is March 31, 2025.
SBI Sarvottam
A new FD scheme, the SBI Sarvottam is meant for senior investors depositing large amounts. This new FD scheme offers higher rates than regular fixed deposits. For a 2-year term, the interest rate is 7.4 percent and for 1-year, it’s 7.10 percent. In this scheme, the senior citizens earn an additional 0.50 percent.
SBI Green Rupee Term Deposit
The Green Rupee Term Deposit from the SBI offers a 6.65 percent interest rate for 1111 or 1777 days, and 6.40 per cent for 2222 days. In this FD scheme, the senior citizens can earn up to 7.40 percent depending on the deposit period.
