One of the newest fixed deposit schemes that State Bank of India is offering to its customers is Amrit Vrishti. It was introduced on July 15, 2024. Banks are now offering competitive rates to attract deposits from the public and this FD is targeted towards meeting that objective. It is open to both domestic and non-resident Indian customers.
SBI Amrit Vrishti FD rates
The SBI Amrit Vrishti offers customers below the age of 60 years an interest rate of 7.25%. Customers who are above 60 are entitled to 50 basis points taking the interest rate to 7.75%. This FD matures in 444 days. The bank has said that it will keep the offer alive for this financial year.
SBI Amrit Kalash FD rates
SBI Amrit Kalash is another FD scheme, the tenure of which is 400 days. Open to any Indian citizen, this FD offers an interest rate of 7.10%, while senior citizens can get interest at the rate of 7.60%. However, it is open till 30 September 2024.
Apart from Amrit Vrishti and Amrit Kalash, State Bank of India offers the highest interest rate in fixed deposits of tenures 2 to less than 3 years. The rate of interest that is offered to those below 60 of age is 7%, while those above 60 are eligible for an interest rate of 7.50%.
Below Rs 3 crore
These are applicable for retail term deposits which mean deposits of below Rs 3 crore. All interest rates on SBI fixed deposits and any change in them are regularly updated in the website of the bank.
Fun Fact
Did you know that SBI has a total customer base of more than 50 crore. This number exceeds the cumulative population of the US and Russia. It also means if the customers of the State Bank of India form a separate country, it would be the third largest country in the world in terms of population. Therefore, any tweak in interest rate by the State Bank of India management impacts a huge number of people.
Fixed deposits are a preferred instrument for many due to their safe and predictable returns over a period of time. These four FDs of State Bank of India can be of great significance to different categories of the public. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
