SBI Amrit Vrishti 444 Days FD is a special fixed deposit option from the State Bank of India that offers investors a fixed return over a tenure of 444 days, or around 15 months.
The scheme is designed for customers looking for a fixed-income investment with a defined maturity period.
SBI’s published rate for the 444-day Amrit Vrishti deposit is 6.60% per annum for the general public.
SBI Amrit Vrishti 444 Days FD Interest Rate
Under the SBI Amrit Vrishti scheme, the interest rate for general customers is 6.60% per annum.
Senior citizens are eligible for an additional interest benefit, while super senior citizens can receive a further benefit under SBI’s applicable rules.
For an investment of Rs 1 lakh, the interest earned over 444 days will depend on the applicable interest calculation and payout option selected by the customer.
The final maturity amount can therefore vary depending on how the interest is paid.
The 444-day tenure is fixed, making the scheme different from regular FDs where customers choose from a range of standard deposit periods.
How Much Can Rs 1 Lakh Earn in 444 Days?
A customer depositing Rs 1 lakh under the 6.60% annual interest rate can earn interest over the 444-day period.
With quarterly compounding, the amount at maturity would be around Rs 1.08 lakh, subject to SBI’s applicable calculation and terms.
The actual amount credited can differ depending on the interest payout option chosen.
Customers should check the maturity amount displayed by SBI at the time of booking the deposit.
Interest from a fixed deposit is also subject to applicable taxation and tax deduction rules.
The post-tax return will therefore depend on the depositor’s individual tax situation.
Key Features of the SBI FD
The SBI Amrit Vrishti deposit is available through SBI’s branch and digital banking channels, including Internet Banking and YONO, according to the scheme’s terms.
Customers can also avail themselves of a loan facility against the deposit, subject to SBI’s applicable conditions.
The deposit can be withdrawn before maturity, but premature withdrawal rules and penalties apply.
If a deposit is withdrawn before completing seven days, no interest is paid for the deposit period.
For eligible premature withdrawals after that period, the applicable penalty is deducted according to the scheme’s terms.
What Investors Should Check
Before opening the deposit, customers should check the applicable interest rate, maturity amount, payout option and premature withdrawal conditions.
The SBI Amrit Vrishti 444 Days FD can be considered by depositors who want a fixed-tenure bank deposit rather than a market-linked investment.
The interest rate and scheme conditions applicable on the date of booking should be checked before investing.
