SBI Revives ‘Amrit Vrishti’ FD Scheme with New Rates

The State Bank of India (SBI) has revised its special FD scheme, ‘Amrit Vrishti’. The new changes will be effective from 15th April 2025. The scheme was initially launched in July 2024 and concluded on 31st March 2025 after multiple extensions. However, it is now back with a revised interest structure.

The new scheme aims to promote deposit mobilisation by targeting senior and super-senior citizens.

Amrit Vrishti’s Interest Rates and Tenure

The ‘Amrit Vrishti’ FD scheme comes with a unique 444-day tenure. Under the revised structure:

• Senior citizens earn an interest rate of 7.55%

• Super senior citizens receive a slightly higher 7.65%

• The general public gets 7.05%

Compared to the earlier version, which offered 7.75% to seniors, this marks a 20-basis point reduction, likely influenced by recent repo rate adjustments.

Adjustments in General FD Rates

SBI has also revised interest rates across various FD tenures for the broader public and senior citizens. Notably:

• 1 year to <2 years: Reduced to 7.20% from 7.30%

• 2 years to <3 years: Cut to 7.40% from 7.50%

These changes are in line with market trends and central bank rate movements.

Revised FD Rates for Senior Citizens

As of 15th April 2025, here are the updated FD rates for senior citizens across different tenures:

• 7–45 days: 4.00%

• 46–179 days: 6.00%

• 180–210 days: 6.75%

• 211 days–<1 year: 7.00%

• 1–<2 years: 7.20%

• 2–<3 years: 7.40%

• 3–<5 years: 7.25%

• 5–10 years: 7.50%

No Deadline for Application

One major advantage for investors is that no deadline has been specified for applying to the reintroduced ‘Amrit Vrishti’ scheme, providing flexibility for planning and investment decisions.

Conclusion

SBI’s decision to bring back the ‘Amrit Vrishti’ fixed deposit scheme reflects its focus on retail deposit mobilisation, especially targeting senior citizens. Though slightly lower than before, the revised interest rates remain competitive, offering a secure investment option with attractive returns for conservative investors.

At 1:11 PM, SBI share price was up 3.04% and was trading at ₹795.20. 

Read more on: SBI Mutual Fund Launches ‘JanNivesh SIP’ to Promote Micro-Investing

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