April 15, 2025. The bank has also discontinued its earlier special FD scheme, Amrit Kalash, earlier this month.
In addition, the interest rate for the 444-day special FD has been reduced by 0.20%.
Reason Behind the Rate Cuts
The Reserve Bank of India (RBI) recently reduced the repo rate twice during its Monetary Policy Committee (MPC) meetings.
Following this, many banks such as HDFC Bank, Yes Bank, Bank of Baroda, and Punjab and Sind Bank also lowered their FD interest rates.
Now, SBI—the country’s largest public sector bank—has followed this trend by reducing its FD rates as well.
Updated Rates for Amrit Vrishti FD Scheme
The Amrit Vrishti FD is a special term deposit with a 444-day tenure. The earlier interest rates were:
7.25% for general customers
7.75% for senior citizens
7.85% for super senior citizens (above 80 years old)
Starting April 15, 2025, the updated interest rates will be:
7.05% for general customers
7.55% for senior citizens
7.65% for super senior citizens
Key Features and How to Invest
The Amrit Vrishti scheme is open to both domestic and NRI customers. Here are the main terms:
Available for FDs less than Rs 3 crore
Applicable to new deposits and renewals
Not available for: recurring deposits, tax-saving deposits, annuity deposits, or multi-option deposits
Interest payout can be chosen as monthly, quarterly, or half-yearly
Customers can invest through
SBI branches
YONO SBI and YONO Lite mobile apps
SBI Internet Banking
Simply select the 444-day FD option, and the scheme will be activated automatically.
