SBI Special FD : The country’s largest bank, State Bank of India (SBI), has launched a special FD. The name of this new scheme of SBI is ‘Amrit Vrishti’. This is an FD scheme which is offering higher interest rates. It offers this to both domestic and non-resident Indian customers. The new scheme has come into effect from July 15, 2024.
SBI Amrut Vrishti – What is the interest rate?
Amrit Vrishti Yojana is offering an annual interest rate of 7.25% on deposits of 444 days. Apart from this, SBI will also give an additional 0.50% interest to senior citizens. Senior citizens are getting maximum interest. This special FD can be booked through bank branch, internet banking and YONO channel. A maximum of Rs 3 crore can be invested in this FD.
Also Read: HDFC vs ICICI vs Axis: These three banks are offering 7.85% interest, check rates
SBI Amrit Vrishti: Till when can you invest?
- Period – From 15 July 2024 to 31 March 2025.
- Deposit period for SBI Amrit Varshi
- 444 days
Payment of interest
In Special Affidavit, interest is credited monthly, quarterly, half-yearly and yearly. The bank credits the interest to the customer’s account after deducting TDS.
How to withdraw SBI Amrit Vrishti before time?
A charge of 0.50% will have to be paid for premature withdrawal of FD up to Rs 5 lakh. Whereas, a charge of 1% will have to be paid on FD from Rs 5 lakh to Rs 3 crore.
SBI Amrit Kalash
The bank has already launched another such product called Amrit Kalash. The bank is giving 7.10% interest to general citizens and 7.60% interest to senior citizens on this FD for 400 days.
