SBI Update: SBI has made senior citizens happy, till the 31st, they are getting bumper interest on FD of 444 days..
Whenever it comes to investment, everyone from youth to senior citizens prefers to invest in FD i.e. fixed deposit because money is safe in FD and it gives guaranteed returns. In such a situation, it is also the most popular investment option for Indians. Many big government and private banks in the country keep changing the interest rates of FD from time to time and launch special FD schemes.
Now State Bank of India is running many special FD schemes to benefit its crores of customers. We are talking about the 'Amrit Vrishti Scheme'. Strong returns are being provided on investing for a short period in this scheme.
What is the SBI Amrit Vrishti Scheme?
SBI, the country's largest government bank, has launched a special FD scheme with a duration of 444 days. Which is a term deposit scheme. SBI Amrit Vrishti Scheme was launched on 16 July 2024. In which investment can be made till 31 March 2025.
SBI Bank FD Interest Rate -
Under the Amrit Varsha Scheme, the State Bank of India is offering interest at the rate of 7.25 percent per annum to the general customers. Similarly, senior citizens are being offered interest at the rate of 7.75 percent per annum in this scheme, which is higher than the general customers. Along with domestic customers, NRIs can also avail the benefits of this scheme of SBI Bank.
How to invest in FD -
If you want to invest in FD, then you can invest by visiting the branch of SBI or through online internet banking or Yono SBI or Yono Lite. A period of 444 days comes into force on investing in this scheme.
These rules will have to be followed while investing in the SBI FD scheme -
This rule will also apply to new and renewal of existing deposits. It will not apply to annuity deposits, tax saving deposits, multi-option deposits, and recurring deposits.
Profit of SBI Amrit Varsha Scheme -
SBI has made senior citizens happy, announced bumper interest on FD of 444 days
· Any customer can invest in the SBI Amrit Varsha Scheme with just Rs 1,000. There is no maximum investment limit.
· Customers will be paid interest on a monthly, quarterly, or half-yearly basis in this scheme.
· If the customer withdraws money before the expiry of the scheme, then they will have to pay a penalty.
A 0.50% penalty will have to be paid on deposits up to Rs 5 lakh, 1% penalty will have to be paid on deposits from Rs 5 lakh to Rs 3 crore. However, no penalty will be paid on money withdrawn 7 days earlier. SBI employees and pensioners will get an exemption in this scheme.
Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
