SBI Amrit Vrishti Scheme Apply Online:- In today’s era, when everyone focuses on living in the present, the need to secure the future is often overlooked. But if you want to make your future financially strong, investing is an essential step.
Understanding this, the State Bank of India (SBI Amrit Vrishti Scheme) has introduced a special fixed deposit scheme, SBI Swarna Avsar Scheme. This scheme is specially designed for those who want to grow their wealth in a stable and risk-free manner.
SBI Amrit Vrishti Scheme Apply Online Overview
| Feature | Details |
| Scheme Name | SBI Amrit Vrishti Scheme (444 Days FD) |
| Launch Period | 15 July 2024 – 31 March 2025 |
| Tenure | 444 days |
| Interest Rate | 7.25% p.a. (General), 7.75% p.a. (Senior Citizens), Extra for SBI staff/pensioners |
| Minimum Deposit | ₹1,000 (no upper limit) |
| Eligibility | Resident individuals and NRIs with retail term deposits < ₹3 crore; new or renewal of existing deposits |
| Interest Payout Options | Monthly, quarterly, half-yearly, or at maturity (as per deposit type) |
| Premature Withdrawal | Allowed; 0.50% penalty (≤₹5 lakh), 1% penalty (>₹5 lakh–<₹3 crore); no penalty for SBI staff/pensioners |
| Loan Facility | Available against deposit |
| Taxation | Interest subject to TDS as per Income Tax Act |
| How to Apply | Online via SBI Internet Banking, YONO app, or offline at SBI branch |
| Special Notes | Not available for Recurring, Tax Saver, Annuity, MACAD, MOD, or Capital Gains deposits |
| Purpose | Short-term, high-return, safe fixed deposit option |
SBI Swarna Avsar Scheme
SBI Swarna Avsar Scheme comes with better interest rates than normal FDs. It aims to provide guaranteed returns to the customers and grow their savings in a safe and stable manner. Senior citizens get the benefit of additional interest rate in it, which makes it even more attractive for them. There is no risk to your money when you invest in this scheme, and the returns are better than other market options.
SBI Amrit Vrishti Scheme Investment Period and Conditions
The investment period in this scheme is 444 days, and you can invest in it till 31 March 2025. The minimum amount of investment starts from only ₹ 1000, and there is no limit on the maximum amount. This scheme is ideal for those who want to get more benefits in a short period.
What are the interest rates?
- The interest rate in SBI Swarna Avsar Scheme is higher than normal FD schemes.
- Common citizens get an interest rate of 7.25%.
- At the same time, senior citizens get a return at the rate of 7.75%.
These interest rates may be revised by the bank from time to time, but this scheme is considered more profitable than similar schemes of other banks.
Possible return on investment
- If you invest ₹ 3 lakh in this scheme then:
- A common citizen gets ₹ 3,27,798 at an interest rate of 7.25%.
- At the same time, the senior citizen gets ₹ 3,29,789 at an interest rate of 7.75%.
- These figures clearly show the profitability of this scheme.
What is the process of investing in SBI Amrit Vrishti Scheme?
The process of investing in this scheme is very simple. You can invest online through SBI’s official website or mobile app. Apart from this, this scheme can also be availed by visiting the nearest SBI branch.
Under the scheme, the account holder is also provided with nomination facility and loan facility on deposit amount. This makes it more convenient for investors.
Why choose SBI Swarn Avsar Scheme?
Visit the official SBI Online Banking portal and log in using your credentials.
Navigate to Deposits:
- Go to the ‘Deposit & Investment’ or ‘Fixed Deposit’ tab.
Select FD Type:
- Choose ‘Fixed Deposit’ and then select ‘SBI Amrit Vrishti’ (or enter 444 days as the tenure; the system will auto-select this scheme).
Enter Details:
- Select your funding account.
- Enter the deposit amount (minimum ₹1,000).
- Set the tenure as 444 days.
- Choose interest payout option (monthly/quarterly/half-yearly/on maturity).
Add Nominee:
- Enter nominee details if required.
Review & Submit:
- Review all details, accept terms and conditions, and click ‘Submit’ or ‘Proceed’.
Confirmation:
- Confirm with OTP. Your FD is created and a digital receipt will be sent to your registered email/SMS.
- Through SBI YONO Mobile App
Login:
- Open the YONO SBI app and log in to your account.
Go to Deposits:
- Tap on ‘Deposits’ and select ‘Fixed Deposits’.
Open Fixed Deposit:
- Tap on ‘Open Fixed Deposit’ and fill in the required details.
Set Tenure:
- Enter 444 days as the tenure to select the Amrit Vrishti scheme.
Enter Amount & Details:
- Specify the deposit amount, interest payout preference, and nominee details.
Review & Confirm:
- Review all information, accept terms and conditions, and tap ‘Confirm’.
- Through SBI Branch (Offline)
Visit Branch:
- Go to your nearest SBI branch.
Request Form:
- Ask for the FD application form and mention ‘444 Days Scheme’.
Fill Details:
- Complete the form with your personal and deposit information, select 444 days as tenure, and add nominee details.
Submit Documents:
- Attach PAN card, Aadhaar or valid ID/address proof, and a recent passport-size photo if required.
Process Payment:
- Provide a cheque or instruct a debit from your account for the deposit amount.
Submission:
- Submit the completed form and documents to the bank staff for processing.
FAQ
1. What is the tenure and interest rate of the SBI Amrit Vrishti Scheme?
The scheme offers a fixed tenure of 444 days with an interest rate of 7.25% p.a. for general public and 7.75% p.a. for senior citizens.
2. How can I invest in the SBI Amrit Vrishti Scheme?
You can apply online via SBI Internet Banking, YONO app, or offline by visiting any SBI branch.
3. Is premature withdrawal allowed and what are the penalties?
Yes, premature withdrawal is allowed with a penalty of 0.50% for deposits up to ₹5 lakh and 1% for deposits above ₹5 lakh up to ₹3 crore. No penalty applies for SBI staff and pensioners.
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