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Fixed Deposit (FD) is one of the preferred investment options for Indian investors. Keeping this in mind, State Bank of India (SBI) has launched a new term deposit scheme called Amrit Vrishti. This is better for such investors who want stable returns on their savings. You can get tremendous returns in this scheme. According to SBI, this scheme has come into effect from July 15, 2024. Under this, you can get up to 7.25% annual interest on investment of 444 days. Not only this, senior citizens will also get 0.50% additional interest in this. That is, senior citizens will get 7.75 percent interest on this term deposit scheme.

Amrit Vrishti Yojana is available for investment till March 31, 2025. Investors can invest in this scheme by visiting SBI branch or through YONO SBI and YONO Lite (mobile banking app) and SBI Internet Banking (INB). It provides the facility of both online and offline transactions.

Will help in meeting the needs of the customers

Speaking on the launch of the new scheme, SBI Chairman, Dinesh Khara said that the 'Amrit Vrishti' scheme is a new version of the term deposit scheme, which is designed to meet the needs of different types of customers. Investing in this scheme will help customers grow their money.

Amrit Kalash is also a better option

SBI's special FD scheme Amrit Kalash is also a better option for investment. This deposit scheme for retail customers offers high interest rates for regular and senior citizens. The bank launched it in April 2024. You can invest in this special FD till September 30, 2024. According to the bank's website, this scheme is for 400 days, in which interest is available at the rate of 7.10%. At the same time, senior citizens can get up to 7.60% interest in it.