New Delhi:
State Bank of India (SBI), the largest public sector bank in the country, has introduced a new term deposit scheme called “Amrit Vrishti”.
Effective from July 15, 2024, this scheme offers a competitive interest rate of 7.25% per annum for deposits made for 444 days.
Additionally, senior citizens will benefit from an extra 0.50% interest, enhancing their returns further.
“This initiative, focused on customers, provides attractive interest rates and serves both domestic and non-resident Indian customers,” said SBI in a release.
The SBI Amrit Vrishti scheme allows customers to secure their investments for a specific period to maximize returns.
How to invest?
Depositors can invest in Amrit Vrishti through various convenient channels: SBI branches, YONO SBI and YONO Lite (mobile banking apps), and SBI internet banking (INB).
This provides flexibility for both online and offline transactions.
SBI stated that the Amrit Vrishti scheme is open for investment until March 31, 2025,
offering ample opportunity for retail investors to benefit from the higher interest rates.
“We are pleased to introduce ‘Amrit Vrishti,’ a new type of term deposit scheme tailored to meet the needs of a wide range of customers.
This initiative underscores SBI’s dedication to offering our esteemed customers opportunities to enhance their wealth,” stated Dinesh Khara, Chairman of SBI.
