SBI Amrit Vrishti FD: SBI reduced interest on this special FD, know how much will be available now?

The country’s largest government bank, State Bank of India (SBI) has reduced its special fixed deposit (FD) interest rate on the “Amrit Vrishti” scheme. The revised rate for Amrit Vrishti FD has come into force today i.e. from June 15, 2025. Let us tell you that last week, most banks including ICICI Bank, HDFC Bank and Canara Bank cut interest rates on their FD. This deduction was made by the Reserve Bank of India (RBI) for the third consecutive time after a reduction of 50 basis points in the repo rate. Due to decrease in repo rate, banks have made loans cheaper and on the other hand have reduced interest on FD. Senior citizens have suffered the most loss of interest on FD.

Now how much interest will be available on Amrit Vrishti FD

After the latest amendment by SBI, interest rates under the Amrit Vrishti Yojana have reduced 25 basis points (BPS). For ordinary citizens, the interest rate is now 6.6% per year over a period of 444 days, compared to 6.85% per year. According to SBI website, the new rate has come into force from 15 June 2025. Now senior citizens will get an interest rate of 7.10% per year in this FD scheme. Super senior citizens (80 years and older) will now get an interest rate of 7.20% per year.

Premature withdrawal charge

A fine of 0.50% is applicable for premature withdrawal (in all periods), for retail term deposits up to Rs 5 lakh. For retailing deposits of more than Rs 5 lakh but less than Rs 3 crore, the fine applied for premature withdrawal is 1% (in all periods). If you are troubled by the decreasing FD of banks, then you can choose the savings scheme of the post office. There are still more returns than banks in many post office savings schemes. That is, you can get more returns from banks by investing in the post office.

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