SBI Amrit Vrishti Scheme: Last Date, Eligibility, Interest Rate, How to Apply and Benefits

State Bank of India (SBI), India's largest public sector bank, has launched the Amrit Vrishti scheme, which provides the best returns in a short time. This scheme was launched on 16 July 2024, and investors can invest until 31 March 2025. 

Learn about the SBI Amrit Vrishti scheme, including the last date to apply, scheme eligibility, interest rate, minimum amount, and much more.

What is the SBI Amrit Vrishti FD scheme?

The SBI Amrit Vrishti scheme is a new variant of a retail term deposit scheme launched by the SBI. This scheme has only one tenure, 444 days. For the entire tenure, it offers a higher interest rate of 7.25% p.a. to regular customers and 7.75% p.a. for senior citizens. Indian residents and Non-Resident Indians (NRIs) can invest in this scheme.

SBI Amrit Vrishti scheme details

The below table provides the details of SBI SBI Amrit Vrishti scheme:

SBI Amrit Vrishti scheme interest rate

SBI Amrit Vrishti scheme interest rate is as follows:

• 7.25% p.a. for general customers
• 7.75% p.a. for senior citizens 
• Additional interest rates for staff and staff pensioners

SBI Amrit Vrishti scheme minimum amount

The minimum amount a person can invest in the SBI Amrit Vrishti scheme is Rs. 1,000, with no maximum investment limit.

SBI Amrit Vrishti scheme last date

The SBI Amrit Vrishti scheme was launched on 15.07.2024, and the last date to invest in it is 31.03.2025.

SBI Amrit Vrishti scheme eligibility

SBI Amrit Vrishti scheme eligibility is as follows:

• Domestic retail term deposits, including NRI rupee term deposits less than Rs. 3 crore 
• New and renewal of existing deposits
• Term deposit and special term deposit

The following are excluded from the SBI Amrit Vrishti scheme: 

• Recurring deposits 
• Tax savings deposits 
• Annuity deposits 
• Motor Accident Claims Annuity Deposits (MACAD) 
• Multi Option Deposits (MODs) 
• Capital gains scheme
• NRI deposits of staff and senior citizens

SBI Amrit Vrishti scheme for senior citizens

SBI Amrit Vrishti scheme offers a higher interest rate for senior citizens. The SBI Amrit Vrishti scheme for senior citizens interest rate is 7.75% p.a.

How to invest in SBI Amrit Vrishti scheme

You can invest in the SBI Amrit Vrishti scheme online via Internet Banking or the YONO app. You can even invest in this scheme offline by visiting the bank branch. Below are the details on how to invest in the SBI Amrit Vrishti scheme.

Internet Banking

1. Log in to SBI Net Banking by entering your credentials. 
2. Click on the ‘Deposit & Investment’ tab and select ‘Deposit’. 
3. Click on the ‘Fixed Deposit’ option.
4. Select the type of deposit account and click ‘Proceed’.
5. Choose the account from which money has to be debited to the FD account.
6. Enter the FD principal value, select the term deposit options, select the tenure of deposit as ‘Days’ and enter ‘444’ under the number of days, choose the maturity instruction, accept the terms and conditions and click the ‘Submit’ button to invest in SBI Amrit Vrishti scheme. 

Please note that when you enter the days of the deposit as ‘444’, the bank will automatically open the SBI Amrit Vrishti scheme term deposit account.

YONO App

1. Download and log in to the YONO SBI app.
2. Click ‘Deposits’ and select the ‘Fixed Deposits’ option.
3. Click on the ‘Open Fixed Deposits’ button.
4. Enter the required details and click ‘Next’. Ensure that the tenure of deposits is entered as ‘444’ days to open the SBI Amrit Vrishti scheme account.
5. Review the details, tick the terms and conditions and click ‘Confirm’.

Visiting Bank Branch

1. Visit the nearest SBI branch.
2. Obtain the FD opening form from the branch officials.
3. Enter the details on the form. Enter the tenure of deposits as ‘444’ days.
4. Submit the form to the bank branch officials.

SBI Amrit Vrishti scheme benefits

• The deposit tenure is fixed at 444 days.
• The minimum deposit amount is Rs.1,000.
• You can open the SBI Amrit Vrishti scheme account online or by visiting the nearest SBI branch.
• The interest rate is fixed at a higher rate of 7.25% p.a. for general customers and 7.75% p.a. for senior citizens.
• SBI staff and SBI pensioners get additional interest rates.
• Interest payout can be monthly, quarterly or half-yearly.
• A loan facility is available against this scheme.

The SBI Amrit Vrishti scheme is a retail term deposit scheme offering a higher interest rate. Its tenure is fixed at 444 days and is beneficial for investors looking to deposit in a safe investment yielding high returns.

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