Business News Desk, Amrit Vrishti Fixed Deposit of India’s largest public sector bank ‘State Bank of India (SBI)’ is open only till the month of March. In this scheme, higher interest rates are being offered than the regular FD scheme of the bank. This limited period scheme was launched on July 16, 2024, which is available for investment till March 31, 2025.
Amrit Vrishti Schemes vs Regular FD
Currently, the rates for SBI’s regular FD schemes for general customers range between 3.50% to 6.50% per annum depending on the tenure. During this period, senior citizens get an extra 0.50% interest, which increases to 7.50% per year. Whereas Amrit Vrishti Fixed Deposit Scheme offers rates of 7.25% per annum to general customers and 7.75% per annum to senior citizens. For example, on investing Rs 1 lakh for 444 days (approximately 1.2 years) under this scheme, The final amount becomes Rs 1,09 lakh, which includes interest of Rs 9,133.54. Apart from this, the amount for senior citizens becomes Rs 1,09,787.04, which includes interest of Rs 9,787.04.
Therefore, this scheme is a good option for those who want higher returns than standard FDs.
Key points of Amrit Vrishti Schemes –
For this a deposit of at least Rs 1000 will have to be made. However, there is no upper limit on investment.
Both domestic and NRI customers can invest in this, provided the retail deposit is less than Rs 3 crore.
Interest will be paid every month, 3 months or 6 during the investment period.
loan facility
Under this scheme, customers can get loan against deposit without breaking the FD.
How to invest in the scheme?
SBI branches.
Mobile Banking App (YONO SBI and YONO Lite).
SBI Internet Banking.
Should you invest in the scheme?
Amrit Vrishti Scheme offers higher returns than SBI’s regular FD, making it a good option for those who want to save more in less time. During this period, senior citizens can get more benefits with 7.75% interest rate.
tax rules
The interest earned on fixed deposits under this scheme is subject to tax deducted at source (TDS) depending on the income tax slab of the depositor. Amrit Vrishti Fixed Deposit (TDS) of India’s largest public sector bank ‘State Bank of India (SBI)’ Amrit Vrishti Fixed Deposit Scheme) is open only till the month of March. In this scheme, higher interest rates are being offered than the regular FD scheme of the bank. This limited period scheme was launched on July 16, 2024, which is available for investment till March 31, 2025.
Amrit Vrishti Schemes vs Regular FD
Currently, the rates for SBI’s regular FD schemes for general customers range between 3.50% to 6.50% per annum depending on the tenure. During this period, senior citizens get an extra 0.50% interest, which increases to 7.50% per year. Whereas Amrit Vrishti Fixed Deposit Interest Rate offers 7.25% per annum rate to general customers and 7.75% per annum rate to senior citizens. For example, under this scheme for 444 days (about 1.2 years) By investing Rs 1 lakh, the final amount becomes Rs 1,09 lakh, which includes interest of Rs 9,133.54. Is included. Apart from this, the amount for senior citizens becomes Rs 1,09,787.04, which includes interest of Rs 9,787.04.
Therefore, this scheme is a good option for those who want higher returns than standard FDs.
Key points of Amrit Vrishti Schemes –
For this a deposit of at least Rs 1000 will have to be made. However, there is no upper limit on investment.
Both domestic and NRI customers can invest in this, provided the retail deposit is less than Rs 3 crore.
Interest will be paid every month, 3 months or 6 during the investment period.
loan facility
Under this scheme, customers can get loan against deposit without breaking the FD.
How to invest in the scheme?
SBI branches.
Mobile Banking App (YONO SBI and YONO Lite).
SBI Internet Banking.
Should you invest in the scheme?
Amrit Vrishti Scheme offers higher returns than SBI’s regular FD, making it a good option for those who want to save more in less time. During this period, senior citizens can get more benefits with 7.75% interest rate.
tax rules
The interest earned on fixed deposits under this scheme is subject to tax deduction at source (TDS) based on the income tax slab of the depositor.
