The State Bank of India (SBI) has introduced several attractive fixed deposit (FD) schemes to help customers increase their savings efficiently.
Among these, the new “Amrit Vrishti” scheme offers competitive interest rates to both domestic and NRI customers.
Here are five popular SBI schemes that promise substantial returns in a short period.
1. SBI Amrit Kalash Yojana
The SBI Amrit Kalash Yojana is a 400-day fixed deposit scheme offering an annual interest rate of 7.10% for general customers and up to 7.60% for senior citizens.
The last date to invest in this scheme is September 30, 2024. These interest rates have been effective since April 12, 2023.
2. SBI WeCare Scheme
The SBI WeCare Scheme is tailored specifically for senior citizens, offering an additional 50 basis points (bps) over regular interest rates.
This scheme is valid for both new deposits and renewals, with the last date for investment being September 30, 2024.
3. SBI Amrit Vrishti Yojana
The newly launched SBI Amrit Vrishti Yojana is a 444-day fixed deposit scheme that provides an interest rate of 7.25% for regular customers, with an additional 0.50% for senior citizens.
This scheme allows investors to take loans against their deposits, and it is available until March 31, 2025.
4. SBI Sarvottam Scheme
The SBI Sarvottam Scheme is ideal for investors looking to deposit large amounts. It offers higher interest rates compared to regular FDs, with a 7.4% interest rate for a 2-year term and 7.10% for a 1-year term.
Senior citizens enjoy an additional 0.50% interest. The non-callable option of this scheme is available for deposits ranging from Rs 1 crore to Rs 3 crore.
5. SBI Green Rupee Term Deposit
The SBI Green Rupee Term Deposit scheme is designed to support environment-friendly projects.
It provides a 6.65% interest rate for a period of 1111 or 1777 days and 6.40% for 2222 days.
Senior citizens can earn up to 7.40% interest. Unlike other schemes, there is no last date for investment in this scheme.
These schemes present great opportunities for both regular and senior citizens to grow their wealth with SBI’s competitive interest rates.
