SBI 444-Day FD Scheme is attracting attention this Diwali as the State Bank of India offers attractive returns through its special Amrit Vrishti fixed deposit.
Customers investing ₹5 lakh or ₹10 lakh can earn substantial interest over the 444-day deposit period, with senior citizens receiving higher rates.
The special fixed deposit offers an annual interest rate of 6.45% for general customers, 6.95% for senior citizens and 7.05% for super senior citizens aged above 80 years.
The scheme provides an option for people who want to deposit a lump sum for a fixed period and earn returns without directly exposing their investment to stock market fluctuations.
SBI 444-Day FD Scheme Interest Rates
Under the Amrit Vrishti special fixed deposit scheme, SBI offers different interest rates depending on the depositor’s age category.
General customers receive 6.45% annual interest, while eligible senior citizens get an additional interest benefit, taking their rate to 6.95%. Super senior citizens aged above 80 years can earn 7.05% annually.
The 444-day tenure makes this deposit different from regular fixed deposit options with standard maturity periods. Investors can consider it if they have funds available for a little over 14 months.
How Much Return on ₹5 Lakh Investment?
Customers investing ₹5 lakh in the 444-day Amrit Vrishti FD can earn approximately ₹40,150 as interest at the 6.45% rate applicable to general customers.
At maturity, the total amount will be approximately ₹5,40,150, including the original deposit and interest earned.
Senior citizens investing the same ₹5 lakh can earn approximately ₹43,380 in interest at 6.95%. Their estimated maturity amount will be ₹5,43,380 after 444 days.
The difference in returns comes from the additional interest benefit available to senior citizens under the scheme.
₹10 Lakh FD Investment: Check Maturity Amount
People planning to invest ₹10 lakh can also benefit from the special deposit scheme. At an annual interest rate of 6.45%, general customers can receive approximately ₹80,300 as interest over 444 days.
This takes the estimated maturity amount to ₹10,80,300. The total includes the original ₹10 lakh deposit and the interest earned during the investment period.
For senior citizens, the returns are higher. At an interest rate of 6.95%, a ₹10 lakh investment can generate approximately ₹86,760 in interest.
The estimated maturity amount for senior citizens will therefore be ₹10,86,760. These figures are indicative, and actual returns may depend on the applicable deposit terms and interest calculation method.
Important Things to Know Before Opening an SBI FD
The Amrit Vrishti deposit is designed for customers who can keep their money invested for the specified 444-day period. Investors should check the applicable premature withdrawal conditions before booking the deposit.
Interest earned from fixed deposits is generally taxable according to the depositor’s applicable income-tax slab. Therefore, the amount received after tax may be lower than the estimated interest earnings.
Customers can check the latest interest rates, eligibility conditions and deposit terms through SBI’s official website or by visiting a bank branch.
The SBI 444-Day FD Scheme may be worth considering for people seeking predictable returns from a fixed-term deposit. However, investors should compare the interest rate, maturity amount, taxation and withdrawal conditions before making a decision.
