State Bank of India, India’s largest public sector bank, has brought back its popular “Amrit Vrishti” fixed deposit scheme. This special FD scheme is for those who look for good returns but want to park their money for a limited fixed period. The scheme has been relaunched with the same tenure of 444 days, but the interest rates have been reduced slightly.
New interest rates of ‘Amrit Vrishti’ FD scheme
Now, under this scheme, general customers will get 7.05% interest per annum, whereas earlier this rate was 7.25% per annum. That is, it has been cut by 20 basis points.
What is the interest rate for senior citizens?
For senior citizens, now this interest rate has been reduced to 7.55% per annum, which was earlier 7.75% per annum. Although there has been a cut, this rate can still be considered better than many other FD options available in the market.
According to SBI website, “The specific tenor scheme of ‘444 days’ (Amrit Vrishti) at a rate of interest 7.05% is effective from 15th April 2025, and senior citizens are offered a rate of interest of 7.55%. Super senior citizens are offered a rate of interest 7.65%.” These new rates are effective from April 15, 2025.
Also read: Check out FD rates of small finance banks
Overall interest rates on SBI FD in April 2025
After the revision of interest rates, now SBI is offering interest rates ranging from 3.50% to 6.9% on its normal FDs (for a period of 7 days to 10 years). The maximum rate of interest the bank is offering on its FD plans with tenure ranging from 2 to 3 years.
At the same time, senior citizens are getting interest ranging from 4% to 7.50%, which also includes the “SBI We-care” scheme. ‘SBI We-care’ plan comes with a minimum tenure of 7 years and maximum of 10 years.
What will be the penalty for breaking FD before time?
If you break an FD of up to Rs 5 lakh before time, then you will have to pay a penalty of 0.50%. At the same time, this penalty will be 1% on FDs above Rs 5 lakh and less than Rs 3 crore.