India’s largest public sector bank, State Bank of India (SBI) has introduced a special fixed deposit scheme, Amrit Vrishti Yojana. The scheme is made for investors who are looking for a safe and high -returned options. The specialty of this scheme is its fixed period and attractive interest rates of 444 days.
SBI Amrit Vrishti Yojana started on 15 July 2024 and the last date to invest in it is 31 March 2025. The scheme provides 7.25% per year to general customers and 7.75% per year to senior citizens. Let us understand the complete information of this scheme in detail.
SBI Amrit Vrishti Yojana: Chief Information
| Speciality | Description |
| Name of the scheme | Amrit Vrishti Fixed Deposit Scheme |
| Plan period | 15 July 2024 to 31 March 2025 |
| Investment period | 444 days |
| Interest Rate | General Customer: 7.25%Senior Citizen: 7.75% |
| Minimum investment amount | ₹ 1,000 |
| Maximum investment amount | No limit |
| Interest payment option | Monthly, quarterly, half -yearly or maturity |
| Premature clearance punishment | ₹ 5 Lakh: 0.50%₹ 5 lakh to ₹ 3 Crore: 1% |
| Credit facility availability | Yes |
What is SBI Amrit Vrishti Yojana?
Amrit Vrishti Yojana is a special fixed deposit scheme offered by SBI, in which investors have to deposit money for only 444 days. The objective of this scheme is to provide customers a safe investment option with high interest rates.
Major features of this scheme:
- High interest rates: 7.25% for general customers and 7.75% for senior citizens.
- Flexibility: Investors can get interest on monthly, quarterly or half -yearly basis.
- Minimum Investment: Starting from only ₹ 1,000.
- Premature withdrawal: Premature withdrawal allowed if needed, but punishment will apply.
- Loan facility: Option to obtain loan on deposit amount.
Who can invest in this scheme?
Eligibility:
- Indian Residents.
- Non -resident Indian (NRI).
- Available for both new and renewed deposits.
Ineligible product:
- Recurring Deposits
- Tax Savings Deposits
- Special deposits for NRI Staff and Senior Citizens
Interest rates and payment options
Interest Rates:
- General Customer: 7.25% per year
- Senior Citizen: 7.75% per year
Payment Options:
- Monthly
- Quarterly
- Half -yearly
- On maturity (special term deposits)
Premature clearance and punishment
If you withdraw your deposits before maturity, the following punishment will apply:
- Deposit amount up to ₹ 5 lakh: 0.50% penalty.
- Deposit amount ranging from ₹ 5 lakh to ₹ 3 crore: 1% punishment.
- There will be no interest on withdrawal on withdrawal in less than seven days.
However, SBI staff and pensioners are exempted from these punishments.
loan facility
Under this scheme, investors can take loans on their deposits. This feature is useful for those who require emergency money but do not want to break their FD.
Way of investment
You can invest through the following means in this scheme:
- Going to SBI branch.
- Through internet banking.
- Using Yono SBI app.
Possible returns on different amounts
The table below shows the returns on different amounts:
| Deposit amount (₹) | General customer return (₹) | Senior citizen returns (₹) |
| ₹ 1,00,000 | ₹ 1,09,266 | ₹ 1,09,930 |
| ₹ 2,00,000 | ₹ 2,18,532 | ₹ 2,19,859 |
| ₹ 4,00,000 | ₹ 4,37,064 | ₹ 4,39,718 |
| ₹ 6,00,000 | ₹ 6,55,597 | ₹ 6,59,577 |
Why choose SBI Amrit Vrishti Yojana?
- Safe Investment: This scheme is supported by a government bank.
- High interest rates: better returns than other FD schemes.
- Flexibility: Various payment options and loan facility.
- Low risk: free from market risk.
Important dates
- Plan start date: 15 July 2024
- Last date: 31 March 2025
conclusion
SBI Amrit Vrishti Yojana is an excellent option for those who want to invest in safe and high returns short -term schemes. Its attractive interest rates and flexible payment options make it different from other FD schemes.
However, before investing, take care of your financial needs and liquidity requirements.
Disclaimer
This article is written only for the purpose of providing information. Be sure to check all the conditions and details from the SBI branch or authorized platform before investing.
