SBI Bank: The State Bank of India (SBI) has once again reduced interest rates in May, following a similar move in April.
The bank has cut the interest rate on both its regular FDs and the special Amrit Vrishti FD scheme by 0.20%.
Earlier in April, SBI closed the Amrit Kalash FD, and now the interest rate on the 444-day Amrit Vrishti FD has also been reduced.
This marks the second rate cut for the Amrit Vrishti Yojana in recent months.
SBI’s Amrit Vrishti FD Rates
The Amrit Vrishti FD is a special 444-day fixed deposit scheme. Until now, the interest rates were as follows:
General Customers: 7.25%
Senior Citizens: 7.75%
Super Senior Citizens (above 80 years): 7.85%
However, starting April 15, 2025, the rates were reduced to:
General Customers: 7.05%
Senior Citizens: 7.55%
Super Senior Citizens: 7.65%
Now, starting from May 16, 2025, the interest rates have been further reduced:
General Customers: 6.85%
Senior Citizens: 7.35%
Super Senior Citizens: 7.45%
What is the SBI Amrit Vrishti Scheme?
This is a term deposit scheme with a tenure of 444 days. It is available for both domestic and NRI customers.
The scheme is applicable to FDs with an investment amount less than Rs 3 crore. Customers can choose from different interest payout options: monthly, quarterly, or half-yearly.
How to Invest in Amrit Vrishti FD?
Investing in this scheme can be done in multiple ways:
Through SBI branches
Using the YONO SBI or YONO Lite mobile apps
Via internet banking
The scheme will automatically be applied when you select a 444-day tenure.
