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SBI: State Bank of India, one of the largest public sector banks in the country, has come up with a special scheme for its customers this year.

Today there are many schemes available that offer high-returns like the stock market and mutual funds. Can also lend to anyone outside with interest rates exceeding 20 percent. The returns on these are good, but there is no guarantee that the investment will return. That is why many people in India keep their money in 'fixed deposits' in banks.

Some banks offer special fixed deposits in special cases. State Bank of India, one of the largest public sector banks in the country, has launched a special FD scheme this year called “SBI Amrit Vrishti FD”. The bank is offering huge interest on this.

'SBI Amrita Vrishti FD' offers high-returns among all deposits offered by the bank. It comes with a tenure of 444 days. General customers get 7.25% annual interest. At the same time, it offers 7.75% interest to senior citizens. The scheme, which offers high-annual interest rates and keeps investors' money safe, can be invested up to March 31, 2025.

How to deposit money?
There is no need to go to the bank to make a deposit in the 'Amrita Vrishti FD' scheme. You can invest in it from home. SBI said that one can invest in this scheme through net banking (SBI internet banking) or YONO application (YONO SBI). If you are not aware of these online methods, you can also go to the bank branch and do FD.

The scheme carries premature penalties. A penalty of 0.50 percent is applicable on deposits below Rs.5 lakh. The same Rs. Early withdrawal of deposits above Rs 5 lakh will earn interest at 1 per cent less than the contract rate.

Other Tenures
SBI currently offers 3.50-4.00% interest on FDs with tenors of 7 to 45 days. Interest on 46 to 179 days FDs is between 5.50% to 6.00%. 6.25-6.75% on FDs of 180-210 days and 6.50-7.00% on FDs of 211 days to less than one year.

6.80-7.30% on FDs of 1-2 years. 7.00-7.50% on FDs of 2 years to less than 3 years. SBI pays interest between 6.75-7.25% on FDs with a tenure of 3 to 5 years and 6.50-7.50% on FDs with a tenure of 5-10 years.

Other Schemes
State Bank of India (SBI) has also launched another special scheme. Its name is 'Amrit Kalash'. Senior citizens can earn 7.60 percent interest on this FD, while general customers can earn 7.10 percent annual interest. In this scheme the money should be invested for 400 days.