SBI Special FD Scheme: Investing your Diwali bonus, gifts, or savings in the right place is a wise decision. If you are looking for fixed and attractive returns without any risk, the State Bank of India (SBI) offers an excellent scheme for you.

SBI’s 'Amrit Vrishti' scheme—a special 444-day fixed deposit (FD) plan—guarantees secure and assured returns this Diwali.

What is the SBI Amrit Vrishti Scheme?

The SBI Amrit Vrishti scheme is a retail fixed deposit plan with a fixed tenure. The total duration for the deposit is set at 444 days.

Eligibility: Available to Indian citizens (both general citizens and senior citizens) as well as NRIs.

Deposit Limit: These interest rates apply to retail FDs of less than ₹2 crore.

Key Feature: This special 444-day fixed-term FD allows investors to earn higher returns over a relatively short period.

How much interest will you earn this Diwali?

This scheme offers higher interest rates compared to standard FD rates for both general and senior citizens. Estimated returns on investments of ₹5 lakh and ₹10 lakh are as follows:

Customer Category | Interest Rate (p.a.) | Estimated Return on ₹5 lakh (after 444 days) | Estimated Return on ₹10 lakh (after 444 days)
General Citizens | 7.25% | ₹5,45,200 | ₹10,90,400
Senior Citizens | 7.75% | ₹5,48,500 | ₹10,97,000
(Note: Interest is calculated on a quarterly compounded basis.)

Why is this the best investment option for Diwali?

The reliability of a public sector bank: Unlike the volatile stock market, your capital remains completely secure with SBI. Loan and Overdraft Facility: In case of an emergency requiring immediate funds, you can easily avail of a loan or overdraft facility from SBI against this Fixed Deposit (FD).
Premature Withdrawal: Should the need arise, you may withdraw your funds before the maturity date, subject to the applicable terms and conditions.
Additional 0.50% Benefit for Senior Citizens: An annual interest rate of 7.75% is offered to senior citizens and pensioners, making it a highly attractive option.

How to apply for this scheme?

If you wish to secure your savings this Diwali by investing in the 'Amrit Vrishti' scheme, you can apply through the following methods:

Digital Channels (YONO App / Net Banking):

Log in to your SBI YONO app or internet banking portal.
Navigate to the 'e-Deposits' section and select 'Fixed Deposit (e-TDR/e-STDR)'.
Choose a tenure of 444 days (for the 'Amrit Vrishti' scheme), enter the deposit amount, and submit your application.
Offline (Branch Visit):

You can visit your nearest SBI branch, fill out the 'Amrit Vrishti' scheme application form, and open an FD account using cash or a cheque.

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