Key Highlights
- SBI cuts Amrit Vrishti 444‑day FD rate from 6.85% to 6.60% for general customers.
- Senior citizens receive 7.10% on the 444‑day FD, with super seniors at 7.20%, effective June 15.
State Bank of India (SBI), India's largest public sector lender, has reduced the interest rate for its Amrit Vrishti term deposit scheme from 6.85 percent to 6.60 percent, effective June 15, 2025.
"The interest rate for the specific tenor scheme "Amrit Vrishti" (444 days) has also been revised from 6.85% to 6.60% as of June 15, 2025." SBI's website states that senior citizens and super senior citizens are eligible for additional benefits in interest rates.
Super Senior Citizens (80 years and older) receive an additional 10 basis points over the interest rate applicable to senior citizens. The scheme does not apply to the Recurring Deposit Scheme, Green Rupee Term Deposit, Tax Savings Scheme 2006, MODS, Capgain Scheme, or Non-Callable Term Deposits, SBI stated.
Last year, SBI launched the Amrit Vrishti term deposit scheme, which offers an attractive annual interest rate of 7.25% on a 444-day deposit. Starting July 15, 2024, the scheme will provide an additional 0.50% to senior citizens, maximizing returns for this segment of customers.
"This customer-focused initiative offers attractive interest rates and caters to both domestic and non-resident Indian customers," SBI said in a statement.
The SBI Amrit Vrishti scheme allows customers to lock in their investments for a specific time period in order to maximise returns. Depositors can invest in Amrit Vrishti through a variety of convenient channels, including SBI branches, YONO SBI and YONO Lite mobile banking apps, and SBI internet banking (INB). This ensures flexibility and allows for both online and offline transactions.
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"We are excited to introduce 'Amrit Vrishti,' a new type of term deposit scheme designed to meet the needs of a wide range of customers. The scheme reflects SBI's commitment to providing our valued customers with opportunities to grow their wealth," Dinesh Khara, Chairman of SBI, previously stated.
