SBI Amrit Vrishti FD offers investors a fixed deposit option with a 444-day tenure, giving customers a defined period for their money to remain invested before maturity.
The scheme is available to both general customers and senior citizens.
The special FD allows deposits below Rs 3 crore, while deposits of Rs 3 crore or more fall under the bulk FD category.
The scheme can be opened through an SBI branch or the YONO app.
SBI Amrit Vrishti FD interest rate
For general customers, the interest rate on the 444-day FD is 6.45%. Senior citizens get a higher interest rate of 7.05% under the scheme.
The difference in rates means senior citizens can earn more interest on the same deposit amount over the 444-day period.
 How much will Rs 1 lakh become?
For a deposit of Rs 1 lakh, the reported maturity amount for a general customer is approximately Rs 1,08,327 after 444 days.
This represents total interest of about Rs 8,327.
For a senior citizen depositing Rs 1 lakh, the reported return is approximately Rs 1,09,129, including total interest of Rs 9,129 over the same 444-day period.
The actual interest earned is subject to the applicable rules and tax provisions.
Tax deductions on the interest are applicable according to income-tax rules.
SBI Amrit Vrishti FD tenure and eligibility
The tenure of the scheme is fixed at 444 days, which is roughly 15 months.
The deposit matures after this period, along with the applicable interest.
The scheme is available to general customers as well as senior citizens.
Customers can make a deposit of less than Rs 3 crore under the retail category.
How to open the FD
Customers can open the deposit through their nearest SBI branch or using the YONO app.
The scheme is designed as a fixed deposit in which the customer deposits a lump sum for the specified tenure.
For investors considering the deposit, the interest rate, 444-day lock-in period and applicable tax rules are key details to check before making the deposit.
