SBI Guaranteed Return Schemes: Here's what PSU bank is giving on Amrit Vrishti and other fixed deposit schemes to senior citizens and others
SBI Amrit Vrishti Scheme: The State Bank of India's FD scheme is available till March 31, 2025. The public lender offers general citizens a 7.25 per cent interest rate on the 444-day Amrit Vrishti scheme, while senior citizens get 7.75 per cent interest.
SBI's Amrit Vrishti is a limited-period FD scheme. It offers a higher rate of interest, 7.75 per cent per annum, to senior citizens while others get 7.25 per cent per annum. This is a 444-days scheme in which you can deposit a minimum of Rs 1,000 and there is no upper limit. The PSU bank also provides one-year, three-year, and five-year fixed deposit schemes for everyone.
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SBI FD interest rates for all
This article will discuss what SBI is providing to general and senior citizens on fixed deposits currently.
SBI interest rate on 444-days FD
The public lender offers general citizens a 7.25 per cent interest rate on the 444-day Amrit Vrishti scheme, while senior citizens get 7.75 per cent interest.
SBI Amrit Vrishti FD: Investment period
The scheme was started on July 15, 2024 and is available till March 31, 2025.
Who can invest in SBI Amrit Vrishti FD?
The scheme is available for both domestic and non-resident Indian customers.
SBI Amrit Vrishti: How much amount will you get on maturity on the Rs 2 lakh investment?
On an investment of Rs 2,00,000, senior citizens will get an interest of Rs 19,859 at the rate of 7.75 per cent and the maturity amount will be Rs 2,19,859. Whereas general citizens will get Rs 18,532 as interest at the rate of 7.25 per cent and the maturity amount will be Rs 2,18,532.
SBI interest rate on 1-year FD
SBI gives 6.80 per cent interest rate on 1-year FD scheme to general citizens while senior citizens get 7.30 per cent interest on the same.
SBI interest rate on 3-year FD
SBI gives 6.75 per cent interest rate on 3-year FD scheme to general citizens while senior citizens get 7.25 per cent interest on the same.
SBI interest rate on 5-year FD
SBI gives 6.50 per cent interest rate on 1-year FD scheme to general citizens while senior citizens get 7.50 per cent interest on the same.
Tax benefits on FDs
Most of the FDs allow to save tax on deposits up to Rs 1.50 lakh in a financial year under Section 80C of the Income Tax Act, 1961.
Bank FD: Minimum investment
The amount of minimum investment depends on the banks. All banks keep the different amounts as a minimum investment.