Deadline to invest in these two SBI special FDs with higher interest rates is in September The bank had previously introduced SBI Amrit Kalash for both general and senior citizens, as well as SBI Wecare for senior citizens, which had a limited-time offer
The State Bank of India (SBI) recently launched a new term limited period deposit scheme known as "Amrit Vrishti", a limited period FD scheme offering higher interest rates and catering to both domestic and non-resident Indian customers.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} The bank had previously introduced SBI Amrit Kalash for both general and senior citizens, as well as SBI Wecare for senior citizens, which had a limited-time offer.
Earn up to 8.1% FD interest rate: These four banks have revised fixed deposit rates in September 2024
SBI Amrit Kalash
SBI Amrit Kalash scheme tenure is 400 days and interest rate offered is 7.10% oer annum for general citizens. The last date to invest in SBI Amrit Kalash is September 30, 2024
According to the SBI website, “The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 30-September-2024.”
SBI Wecare
SBI introduced a deposit scheme specially for senior citizens called "SBI WECARE' protecting their income by offering additional interest on Term Deposits. The scheme is valid up to September 30, 2024.
Interest Rate: Additional premium of 50 bps (over and above existing premium of 50 bps) over card rate for Public i.e., 100 bps over card rate for Public. Scheme is available on fresh deposit and renewal of maturing deposits.
What is 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. The investment period is up to March 31, 2025.
According to the SBI website, ““The specific tenor scheme of “444 days” (Amrit Vrishti) at Rate of Interest 7.25 % is effective from 15th July 2024 and Senior Citizens are offered a Rate of interest 7.75%. The Scheme will be valid till 31st March 2025”
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
SBI Sarvottam
SBI Sarvottam term deposits launched last year for investors for higher deposits offering rates above the conventional fixed deposits under this arrangement.
Under SBI Sarvottam term deposits, the bank offers an interest rate of 7.4 per cent for a tenure of two years. For a one-year tenure, the interest rate has been fixed at 7.10 per cent. Senior citizens will get an additional 50 basis points (bps) premium over the rate of interest provided to the general investors. They will earn an interest rate of 7.9 per cent for deposits maturing in two years. For a year, they will get an interest rate of 7.6 per cent in the bank.
Note that interest rates on 'Sarvottam (non-callable) is only for deposits above Rs. 1 crore to less than Rs. 3 crore. There is no last date to invest.
SBI Green Rupee Term Deposit
SBI has launched SBI Green Rupee Term Deposit in an effort to raise cash for funding green activities and projects, as well as to expand the country's green finance ecosystem. Under the scheme, the bank offers 6.65% on tenure of 1111 Days, 1777 Days. For 2222 Days tenure, the bank offers 6.40% on retail term deposits.
Under the scheme, for senior citizens, the bank offers 7.15% on tenure of 1111 Days, 1777 Days. For 2222 Days tenure, the bank offers 7.40% on retail term deposits. No last date to invest.
SBI
Last date to investSBI Amrit Kalash30-Sep-24SBI WeCare30-Sep-24SBI Amrit Vrishti31-Mar-25SBI SarvottamNo last date (NA)SBI Green DepositNo last date (NA)
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This story originally appeared on: India Times - Author:Faqs of Insurances
