Best return opportunity in 444 days, know all the details

State Bank of India (SBI), the country’s largest public sector bank, is giving its customers the opportunity to give attractive returns in a short time. For this, the bank has recently launched ‘Amrit Vrishti Scheme’. This is a limited-period fixed deposit (FD) scheme, in which investors can invest from July 16, 2024 to March 31, 2025. The objective of this scheme is to provide returns to the customers at competitive interest rates.

What is SBI Amrit Vrishti Scheme?

Amrit Vrishti Scheme a special term deposit scheme whose duration is 444 days Is. In this scheme:

• 7.25% per annum to general customers Interest rate is available.
• Senior Citizens To 7.75% p.a. Interest rate is available.
• Benefit of this scheme domestic investors And Non-Resident Indian (NRI) Can lift both.

Key Terms of SBI Amrit Vrishti Scheme

1. input range:
   • less than ₹3 crore Domestic Retail Term Deposit Applicable for NRIs (including Rupee Term Deposits).
2. New and Existing Deposits:
   • This scheme will be applicable on new deposits and renewal of existing deposits.
3. Where it will not apply:
   • this scheme Recurring Deposit, Tax Saving Deposit, Annuity Deposit And Multi-Option Deposit But will not apply.

Benefits of the scheme

1. Minimum Investment:
   • in this plan Invest from ₹1,000 can be started.
2. Maximum Investment:
   • There is no limit on maximum investment.

Method of interest payment

1. Term Deposit:
   • interest paid monthly, quarterly or half yearly Can be done on basis.

Penalty for premature withdrawal of money

1. On deposits up to ₹5 lakh:
   • 0.50% penalty Will apply.
2. For deposits above ₹5 lakh and less than ₹3 crore:
   • 1% penalty Will apply.
3. Withdrawal before 7 days:
   • No interest will be given on withdrawal within this period.
4. SBI Staff and Pensioners:
   • Penalty exemption is given for these.

loan facility

• On the amount deposited in this scheme Loan can be taken.
• on interest earned TDS Will be cut.

How to invest in SBI Amrit Vrishti Scheme?

You can invest in this scheme through the following means:

1. By visiting any branch of SBI.
2. YONO SBI and YONO Lite mobile apps Through.
3. SBI Internet Banking (INB) Through.
4. period of 444 days If selected, the bank will automatically implement this scheme.

Is this scheme right for you?

Amrit Vrishti Scheme A good option for investors who want good returns in the short term. especially 444 days This scheme provides the best returns over a period of Rs. However, if you long term investment If you are planning to invest, then this scheme may not be right for you as it does not have the option to renew the interest rate.