New Delhi: India’s largest public sector lender State Bank of India (SBI), has slashed the interest rates for its term deposit scheme Amrit Vrishti from 6.85 percent to 6.60 percent with effect from 15 June 2025.
“The interest rate of specific tenor scheme of “Amrit Vrishti”(444 days) has also been revised from 6.85% to 6.60% wef 15-June-2025. Senior Citizens and Super Senior Citizens are eligible for their additional benefits in rate of interest,” SBI has mentioned in its website.
An additional benefit of 10 bps is applicable for Super Senior Citizens (80 years and above) over the interest rate applicable for senior citizens. The scheme is not applicable to Recurring Deposit Scheme, Green Rupee Term Deposit, Tax Savings Scheme 2006, MODS, Capgain Scheme and Non-Callable Term Deposits, SBI added.
SBI had launched the term deposit scheme Amrit Vrishti last year offering an attractive interest rate of 7.25% per annum on deposit of 444 days. Effective from July 15, 2024, the scheme in addition, provided an additional 0.50% on top of it to senior citizens, maximizing returns for this segment of customers.
“This customer-centric initiative offers attractive interest rates and caters to both domestic and non-resident Indian customers,” SBI said in a release.
SBI Amrit Vrishti scheme enables the customers to lock in their investments for a specific tenor to maximise returns. Depositors can invest in Amrit Vrishti through various convenient channels – SBI branches, YONO SBI and YONO Lite (mobile banking apps), and SBI internet banking (INB). This ensures flexibility and caters to both online and offline transactions.
“We are delighted to launch ‘Amrit Vrishti,’ a new variant of term deposit scheme, designed to meet the requirements of diverse range of customers. The scheme reflects SBI’s commitment to providing our valued customers with avenues to grow their wealth,” Dinesh Khara, Chairman, SBI, had earlier said.
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