SBI relaunches Special Fixed Deposit Scheme

By Fatima | Published on April 15, 2025

Businesss / April 15, 2025

SBI relaunches Special Fixed Deposit Scheme

SBI has re-introduced the Amrit Vrishti FD scheme with a special period of 444 days. Now in this scheme, common citizens will get 7.05% interest and senior citizens will get 7.55% interest, whereas earlier this rate was 7.25% and 7.75%. Super senior citizens will get the benefit of 7.65% in this.

New Delhi:

State Bank of India (SBI) has re-introduced its special fixed deposit scheme – Amrit Vrishti. The country’s largest private sector bank has announced that the term deposit plan came into effect from April 1, 2025.

Amrit Vrishti Deposit Eligibility:

The bank has set the minimum amount of investment in the SBI Amrit Vrishti scheme as Rs 1,000, with no maximum investment limit. The Domestic Retail Term Deposits including NRI Rupee Term Deposits (< Rs 3 crore).
New and Renewal of existing deposits and Term Deposit and Special Term Deposit only.

The aspects which are excluded from Recurring deposits: Tax savings deposits, Annuity deposits, Motor Accident Claims Annuity Deposits (MACAD), Multi Option Deposits (MODs), Capital gains scheme and NRI deposits of staff and senior citizens.

The SBI Amrit Vrishti account can be opened online or by visiting the nearest SBI branch. The SBI employees and SBI pensioners get additional interest rates. The scheme holders are eligible to get loan facility.

SBI reduces interest rate by 25 bps

Meanwhile, State Bank of India has slashed its lending rate by 25 basis points following the Reserve Bank’s policy rate cut last week. The SBI customers (both existing and new borrowers) can enjoy cheaper loans.

The Repo Linked Lending Rate (RLLR) of SBI would come down by 25 basis points to 8.25 per cent.

The bank has also cut deposit rates by 10-25 basis points, which will come into effect from April 15. Now, the fixed deposits up to Rs 3 crore with 1-2 year tenor will earn 10 basis points lower interest rate of 6.70 per cent.

The deposits having two years to less than 3 years maturity will receive an interest rates ranging between 6.90 per cent and 7 per cent.

SBI is offering a rate of interest of 7.05 per cent for the specific tenor scheme of ‘444 days’. The senior citizens are entitled to get 0.50 extra, i.e. a rate of interest 7.55 per cent and super senior citizens will get an interest rate of 7.65 per cent.