Earn up to 7.75% interest rate on new SBI special FD, Amrit Vrishti
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What is SBI Amrit Vrishti
The State Bank of India (SBI) has launched a new term limited period deposit scheme known as "Amrit Vrishti", an FD scheme offering higher interest rates and catering to both domestic and non-resident Indian customers. The new scheme is effective from July 15, 2024. This special FD can be booked through branch, internet banking, and YONO Channels.
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SBI Amrit Vrishti interest rate
The "Amrit Vrishti" scheme comes with an interest rate of 7.25% per annum on deposit of 444 days. In addition, SBI will provide an additional 0.50% on top of it to senior citizens, maximizing returns for this segment of customers. Loan can be availed on these deposits.
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What is the period of availability
Period of Availability July 15, 2024 to March 31, 2025. Period of deposit for SBI Amrit Vrishti: 444 Days
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Eligible fixed deposits
Domestic Retail Term Deposits including NRI Rupee Term Deposits (< Rs 3 crore) ii) New and Renewal of existing deposits and Term Deposit and Special Term Deposit only.
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Amrit Vrishti: What are excluded
Other products i.e., Recurring Deposit, Tax Savings Deposits, Annuity Deposits, MACAD, Multi Option Deposits (MODs), Capital Gains Scheme etc. Note that NRI Deposits of Staff and Senior Citizens.
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Payment of Interest
Term Deposits – At monthly/ quarterly/half yearly intervals Special Term Deposits- On maturity interest, net of TDS, shall be credited to Customer’s Account.
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What are Premature Withdrawal rules for SBI Amrit Vrishti
Premature withdrawal penalties for retail term deposits up to Rs. 5 lakh is 0.50% for all tenors. The relevant penalty for retail term deposits exceeding Rs. 5 lacs but less than Rs. 3 crores will be 1% for each tenor.