SBI Reviving the ‘Amrit Vrishti’ FD Scheme with New Rates

The State Bank of India (SBI) has reintroduced its special Fixed Deposit (FD) scheme called ‘Amrit Vrishti’ from April 15, 2025, with revised interest rates. Initially launched in July 2024, the scheme was concluded on March 31, 2025, after multiple extensions. Now, SBI has brought back this scheme with a modified structure to cater specifically to senior and super-senior citizens, offering them competitive interest rates on their fixed deposits. The scheme aims to mobilize deposits by attracting elderly investors with favorable returns, promoting their long-term financial security.

Key Features of the Revised Amrit Vrishti FD Scheme

Interest Rates for Senior Citizens

• Senior citizens can now earn an interest rate of 7.55% on their 444-day FD deposits.
• Super senior citizens (aged 80 years and above) receive an interest rate of 7.65%.
• These rates are slightly reduced from the previous version, where senior citizens earned 7.75%.

Interest Rates for the General Public

• The general public will earn an interest rate of 7.05% on the 444-day FD tenure.
• This marks a reduction from the earlier rate of 7.25% offered under the previous structure.

Tenure

• The FD scheme offers a unique 444-day tenure, aimed at providing medium-term benefits to investors.

Revised FD Rates Across Other Tenures

• SBI has also revised interest rates for FDs across various tenures for both the general public and senior citizens
• 1 year to <2 years: Reduced to 7.20% from 7.30%.
• 2 years to <3 years: Reduced to 7.40% from 7.50%.
• These rate reductions align with the market trends and adjustments in the repo rate.

No Deadline for Application

• One of the notable advantages of the reintroduced ‘Amrit Vrishti’ FD scheme is that no application deadline has been specified. This allows potential investors to apply at their convenience without worrying about missing out on the offer.

Objective of the Scheme

• The scheme primarily targets senior and super-senior citizens, with the intention of providing them with a secure investment option that guarantees higher returns.
• SBI aims to tap into the growing demand for senior citizen-friendly financial products with competitive interest rates.