Last Updated:
SBI reintroduced its 444-day ‘Amrit Vrishit’ scheme, effective April 15, 2025. SBI also cut FD rates by 10 basis points.
SBI also announced to cut FD interest rates on selected tenures.
SBI Special FD Scheme: The State Bank of India (SBI) has reintroduced its special tenor scheme of 444 days known as ‘Amrit Vrishti’ from today, April 15, but with a lower rate of interest. It offers the rate of interest of 7.05 per cent. However, senior citizens are offered a rate of interest 7.55 per cent and Super Senior Citizens are offered a rate of interest 7.65 per cent.
“The specific tenor scheme of “444 days” (Amrit Vrishti) at Rate of Interest 7.05 % is effective from 15th April 2025 and Senior Citizens are offered a Rate of interest 7.55%. Super Senior Citizens are offered a Rate of Interest 7.65%.” w.e.f. 15.04.2025, SBI mentioned in the official website.
Amrit Vrishti was introduced as a new variant of Retail Term Deposit scheme for 444 days tenor on July 15, 2024. The scheme offering 7.25 per cent interest with senior citizen being given 50 bps more ended on March 31, 2025.
Anyone can open ‘Amrit Vrishti’ via branch, internet banking and Yono app.
SBI Amrit Vrishti Calculator: Rough Estimations
To calculate the corpus for investing Rs 1,000 per month for 444 days under SBI’s Amrit Vrishti scheme at 7.05% interest rate, we can use a recurring deposit-style calculation since you’re investing monthly.
Assumptions:
Monthly deposit = Rs 1,000
Interest rate = 7.05% annually (compounded quarterly)
Period = 444 days ≈ 14.8 months
Interest is calculated as per recurring deposit norms (quarterly compounding)
Approximate Calculation:
Using the standard RD formula, the final corpus will be around Rs 15,600 to Rs 15,800.
Here’s a rough breakdown:
Total deposit over ~14.8 months = Rs 14,800
Interest earned ≈ Rs 800 – Rs 1,000
Final corpus ≈ Rs 15,600 – Rs 15,800
SBI Cuts FD Interest Rates
Meanwhile, SBI also announced to cut FD interest rates on selected tenures. The bank has cut interest rates by 10 basis points for select medium-term deposits, specifically in the 1 to 3-year range, applicable to both general customers and senior citizens.
| General Public | Senior Citizen | |||
|---|---|---|---|---|
| Tenors | Existing Rates for Public w.e.f. 15/06/2024 | Revised Rates for Public w.e.f. 15/04/2025 | Existing Rates for Senior Citizen w.e.f. 15/06/2024 | Revised Rates for Senior Citizen w.e.f. 15/04/2025 |
| 7 days to 45 days | 3.50 | 3.50 | 4.00 | 4.00 |
| 46 days to 179 days | 5.50 | 5.50 | 6.00 | 6.00 |
| 180 days to 210 days | 6.25 | 6.25 | 6.75 | 6.75 |
| 211 days to less than 1 year | 6.50 | 6.50 | 7.00 | 7.00 |
| 1 Year to less than 2 years | 6.80 | 6.70 | 7.30 | 7.20 |
| 2 years to less than 3 years | 7.00 | 6.90 | 7.50 | 7.40 |
| 3 years to less than 5 years | 6.75 | 6.75 | 7.25 | 7.25 |
| 5 years and up to 10 years | 6.50 | 6.50 | 7.50* | 7.50* |
