SBI Amrit Vrishti FD vs Central Bank of India 444-day FD: Which gives higher return to senior citizens on Rs 10 lakh and Rs 20 lakh investments
SBI 444-day Special FD vs Central Bank of India 444-day Special FD Maturity Calculator: SBI's 444-day special FD is know as Amrit Vrishti, while Central Bank of India's 444-day special FD is known as Cent Super Callable Time Deposit.
SBI 444-day Special FD vs Central Bank of India 444-day Special FD Interest Rates: State Bank of India and Central Bank of India both have special fixed deposit (FD) schemes for general citizens as well as senior citizens. Special FDs offer higher interest rates than other FDs of the same bank. A lot of people who want to park their money for a short duration invest in special FDs. SBI's 444-day special FD is know as Amrit Vrishti, while Central Bank of India's 444-day special FD is known as Cent Super Callable Time Deposit. In this write, know more about the two FDs, interest rates that they are offering, and which of the two will give higher return on investments of Rs 10 lakh and Rs 20 lakh. (FD Rate Data Source: Paisabazaar.com)
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What is SBI Amrit Vrishti special FD?
SBI Amrit Vrishti is a special scheme, where investors can invest their money for 444 days. The scheme was launched on July 15 this year and will be valid till March 31, 2025.
SBI Amrit Vrishti interest rate for general citizens
The FD offers 7.25 per cent interest rate to general citizens.
SBI Amrit Vrishti interest rate for senior citizens
The scheme offers 7.75 per cent interest rate to senior citizens.
SBI Amrit Vrishti: Payment of interest
In Term Deposits, the interest will be credited on a monthly/quarterly/half yearly intervals.
In Special Term Deposits, it will be credited on maturity.
Interest, net of TDS, will be credited to the customer’s account.
What is Cent Super Callable Time Deposit
This is a special FD from Central Bank of India, where one can invest money for 444 days.
Cent Super Callable Time Deposit: Minimum and maximum investment
The minimum investment in the special FD is Rs 10,000, while the maximum investment is Rs 10 crore.
Cent Super Callable Time Deposit: Interest rate for general citizens
The interest for general citizens under the FD is 7.45 per cent.
Cent Super Callable Time Deposit: Interest rate for senior citizens
The interest rate for senior citizens in the Central bank of India FD is 7.95 per cent. The bank says on its website that compared to general citizens, it pays 1 per cent extra interest rate to its staff and 1.50 per cent to its senior citizen retired staff.
SBI Amrit Vrishti FD: Maturity for senior citizens on Rs 10 lakh investment
The interest earned on a Rs 10 lakh investment will be Rs 97,870.42, and the maturity amount will be Rs 10,97,870.42.
SBI Amrit Vrishti FD: Maturity for senior citizens on Rs 20 lakh investment
The interest earned on a Rs 20 lakh investment will be Rs 1,95,740.84, and the maturity amount will be Rs 21,95,740.84.
Central Bank Cent Super Callable Time Deposit: Maturity for senior citizens on Rs 10 lakh investment
The interest earned on a Rs 10 lakh investment will be Rs 1,00,493.12, and the maturity amount will be Rs 11,00,493.12.
Central Bank Cent Super Callable Time Deposit: Maturity for senior citizens on Rs 20 lakh investment
The interest earned on a Rs 20 lakh investment will be Rs 2,00,986.24, and the maturity amount will be Rs 22,00,986.24.