- By Aditya Pratap Singh
- Mon, 14 Apr 2025 01:50 PM (IST)
- Source:JND
SBI Special FD Scheme Fixed Deposit Rate: The biggest public sector bank in the nation, State Bank of India (SBI), has dealt its clients a double blow by announcing a decrease in interest rates on its fixed deposits. The bank has lowered interest rates on both standard fixed deposits and Amrit Varsha, its unique FD program.
The Reserve Bank of India (RBI) has lowered the repo rate twice in recent months, which coincides with this action. Several banks, including HDFC Bank, Yes Bank, Bank of Baroda, and Punjab & Sind Bank, have already lowered their FD rates in response to the RBI's Monetary Policy Committee (MPC) ruling. SBI has now followed suit.
Amrit Varsha FD Interest Rates Drop
The interest rate on SBI's unique 444-day Amrit Varsha FD plan has been lowered by 0.20 per cent. As of right now, the program offers general consumers 7.25% interest, senior citizens 7.75%, and super senior citizens (those over 80) 7.85%. But from April 15, 2025, the updated interest rates will be:
- 7.05% for common citizens
- 7.55% for senior citizens
- 7.65% for super senior citizens
SBI had also terminated its Amrit Kalash special FD scheme earlier this month.
With a 444-day fixed tenure, the Amrit Varsha FD is a unique term deposit plan, which allows both domestic and NRIs to invest. The program is applicable to deposits under Rs 3 crore and can be used for both new and renewed fixed deposits.
How To Invest In SBI Special FD Schemes
Any SBI branch or SBI's online platforms, such as YONO SBI, YONO Lite, and Internet banking, are good places to invest in this scheme if you're interested. When a customer books an FD, the plan will be automatically applied if they choose a tenure of 444 days.
With this reduction in interest rates on FDs, SBI joins other big banks in bringing FD interest rates into line with the state of the economy. Before making any investment decisions, customers are encouraged to review the most recent rates.