Amrit Vrishti: SBI’s new FD scheme, ‘Amrit Vrishti’ is giving up to 7.75% interest, offer for only a few months

SBI Amrit Vrishti FD :The country’s largest lender State Bank of India (SBI) has launched a new fixed deposit (FD) scheme. This fixed deposit scheme has been launched under the name ‘Amrit Vrishti’. This scheme has been launched on July 15, 2024 and deposits can be made in it only till March 31, 2025. Through this scheme, you can get 7.75 percent annual interest on your money. This scheme is available for both Indian and NRI customers. You can open this special FD scheme of SBI by visiting any branch of the bank, through internet banking and YONO app.

Up to 7.75% return on savings account, customers of these banks including SBI, HDFC Bank, ICICI Bank will have to do this work

Maturity Period

In SBI’s Amrit Vrishti Fixed Deposit Scheme, a normal account will get 7.25 percent annual interest on maturity of 444 days. Senior citizens will get 50 basis points more interest, i.e. senior citizens can get 7.75 percent annual interest on this FD scheme. There is also a loan facility on this FD scheme.

Features of Amrit Vrishti FD Scheme

1. From when to when can you make deposits: 15.07.2024 to 31.03.2025

2. Period of deposit or tenure: 444 days

3. Deposit: Retail investors can make FD with an amount less than Rs 3 crore. There will also be a facility to renew the existing deposit. NRIs can also take advantage of this scheme.

4. Interest Rate: 7.25% per annum interest on normal account and 7.75% per annum interest to senior citizens. While bank staff and pensioners have the facility of additional interest rate on FD.

Child Plan: At the age of 21, your child can also be the owner of 2 crores, do you invest in these special schemes

5. Payment of Interest : i) Term Deposit – Term Deposit – At Monthly / Quarterly / Half Yearly intervals, Special Term Deposit – On maturity, ii) Interest after deducting TDS will be credited to customer’s account

6. Tax deduction: TDS on interest income, if applicable, under the Income Tax Act

7. Premature Withdrawal: i) For retail term deposits up to Rs 5 lakh, penalty on premature withdrawal will be 0.50 per cent (for all tenors).

ii) For term deposits above Rs 5 lakh but less than Rs 3 crore, 1 per cent penalty on premature withdrawal (for all tenures).

Investment: Monthly income will be 20 thousand to 60 thousand, 3 risk free investments for regular income

The scheme is for a limited period

SBI’s Amrit Vrishti scheme will be available from July 15, 2024 to March 31, 2025. In this, you will have to deposit money for 444 days. This scheme will be applicable on domestic retail term deposits and NRI rupee term deposits. This scheme is very beneficial for those who want to invest for a long time. Let us tell you that the bank had earlier launched a similar scheme named ‘Amrit Kalash’. In that, interest of up to 7.60 percent is being given on deposits for 400 days.