Fixed deposits are one of the best investment options. State Bank of India has launched a new term deposit scheme called Amrit Vrishti. This scheme is good for those investors who want fixed returns on their savings. This scheme has come into effect from July 15, 2024. Under this, investors can get an annual interest of 7.25% on an investment of 444 days.
Senior citizens will get 7.75% interest per annum
Senior citizens will get an additional interest of 0.50% in this scheme. That means senior citizens will get 7.75% annual interest on this term deposit scheme.
You can invest in this way
Amrit Vrishti Fixed Deposit Scheme is available for investment till March 31, 2025. You can invest in this scheme by visiting any SBI branch or through YONO SBI and Yono Lite (mobile banking app) and SBI Internet Banking (INB).
Also Read: ICICI Bank has revised the interest rate on FD, check the interest rate
Speaking on the launch of the scheme, SBI Chairman Dinesh Khara said, “I am delighted to launch the ‘Amrit Vrishti’ scheme, a new version of the term deposit scheme, which is designed to meet the needs of a diverse range of our customers. Investing in this scheme will help customers grow their money.”
There will be a charge for withdrawing FD money before maturity
Let us tell you that if you withdraw money from FDs up to Rs 5 lakh before time, i.e. before maturity, then you will have to pay a charge of 0.50%. At the same time, investors will have to pay a charge of 1% on FDs from Rs 5 lakh to Rs 3 crore.
SBI’s Amrit Kalash scheme is also great
SBI’s special FD scheme Amrit Kalash is also a great option for investors. The bank relaunched this scheme in April 2024. This special FD is available for investment till September 30, 2024. According to the bank’s website, this scheme is for 400 days, in which annual interest is available at the rate of 7.10%. At the same time, senior citizens get an interest of 7.60%.
