2024-07-17 00:26:40
New Delhi: State Bank of India (SBI) has launched a new fixed deposit (FD) scheme. Its name is ‘Amrit Vrishti’. This scheme has started from July 15, 2024. In this you have a chance to earn more interest. This scheme is for both Indian and NRI customers. You can open this special FD from SBI branch, internet banking and YONO app.
How much interest is the bank giving?
In Amrit Vrishti scheme, 7.25 percent annual interest will be given for 444 days. Senior citizens will get 0.50 percent more interest. That means they will get a total interest of 7.75 percent. Loan can also be taken on this FD.
The scheme is for a limited period
SBI’s Amrit Vrishti scheme will be available from July 15, 2024 to March 31, 2025. In this, you will have to deposit money for 444 days. This scheme will be applicable on domestic retail term deposits and NRI rupee term deposits. SBI has launched this scheme to give customers an opportunity to earn more interest. This will benefit the customers and they will be able to save for their future.
This scheme is very beneficial for those who want to invest for a long time. This scheme of SBI gives you good returns along with safe investment.
Who should invest money?
This plan is a good option for people who:
- Want guaranteed returns
- Want to invest for a short period of time
- Want to avail loan facility against your deposits
The bank had earlier launched a similar scheme called ‘Amrit Kalash’. In this, 7.10 percent interest is given for general citizens and 7.60 percent interest is given for senior citizens for a period of 400 days.