SEO Elements
- Title: SBI Amrit Varsha FD Scheme – 7.75% Interest for Senior Citizens | Closing March 31
- URL: sbi-amrit-varsha-fd-scheme-2025-interest-rate-details
- Meta Description: SBI’s special Amrit Varsha FD offers 7.25-7.75% interest. Deposit ₹2 lakh to get ₹19,859 guaranteed returns. Scheme closes March 31, 2025.
- Focus Keyword: SBI Amrit Varsha FD
- Alt Text: SBI Bank Amrit Varsha FD scheme details
Introduction
State Bank of India (SBI), India’s largest public sector bank, has introduced a limited-time fixed deposit scheme called “Amrit Varsha” that offers higher interest rates than regular FDs. With 7.25% for general citizens and 7.75% for senior citizens, this 444-day FD scheme is perfect for risk-averse investors looking for guaranteed returns.
Key Highlights:
✔ Higher interest rates than regular SBI FDs
✔ 444-day tenure (1 year, 2 months, 19 days)
✔ ₹2 lakh deposit earns ₹19,859 interest (senior citizens)
✔ Scheme closes March 31, 2025
✔ 100% safe (backed by SBI & Govt. of India)
In this article, we’ll cover:
✔ Interest Rates & Payout Calculations
✔ Who Should Invest?
✔ How to Open an Amrit Varsha FD?
✔ Tax Implications
✔ Comparison with Other FD Schemes
✔ FAQs About SBI Amrit Varsha FD
SBI Amrit Varsha FD: Key Features
| Feature | Details |
|---|---|
| Tenure | 444 days (1 year, 2 months, 19 days) |
| Interest Rate | 7.25% (General), 7.75% (Senior Citizens) |
| Minimum Deposit | ₹1,000 |
| Maximum Deposit | ₹3 crore |
| Interest Payout | At maturity (cumulative option) |
| Risk Level | Very Low (SBI-backed) |
| Last Date | March 31, 2025 |
Interest Earnings Calculation
For ₹2 Lakh Deposit:
| Category | Interest Rate | Total Interest | Maturity Amount |
|---|---|---|---|
| Senior Citizen | 7.75% | ₹19,859 | ₹2,19,859 |
| General Citizen | 7.25% | ₹18,532 | ₹2,18,532 |
Note: Interest is compounded quarterly.
Comparison with Regular SBI FD
| Scheme | General Rate | Senior Citizen Rate |
|---|---|---|
| Amrit Varsha FD | 7.25% | 7.75% |
| Regular 1-2 Yr FD | 6.80% | 7.30% |
Difference:
- Senior citizens earn 0.45% extra
- General citizens earn 0.45% extra
Who Should Invest in Amrit Varsha FD?
👍 Best For:
- Senior citizens seeking higher fixed returns
- Risk-averse investors preferring guaranteed income
- Short-term savers (444-day lock-in)
- Taxpayers who can claim 80C deductions (up to ₹1.5 lakh)
👎 Not Ideal For:
- Those needing monthly interest payouts
- Investors looking for long-term (5+ years) returns
- High-risk takers preferring equity/stocks
How to Open an SBI Amrit Varsha FD?
Online Method (via YONO/SBI NetBanking)
- Log in to SBI NetBanking or YONO app
- Go to “Fixed Deposit” > “Open New FD”
- Select “Amrit Varsha Scheme (444 days)”
- Enter deposit amount & nominee details
- Confirm via OTP
Offline Method (Branch Visit)
- Visit nearest SBI branch
- Fill FD application form
- Submit KYC documents (Aadhaar, PAN)
- Deposit cash/cheque
Processing Time: Same day
Tax Implications
- Taxable Interest: Interest earned is added to annual income and taxed as per slab.
- TDS Deduction:
- 10% TDS if interest exceeds ₹40,000/year (₹50,000 for seniors)
- Submit Form 15G/15H to avoid TDS if taxable income is below ₹2.5 lakh
- 80C Benefit: Not applicable (only 5-year tax-saving FDs qualify)
Alternatives to Amrit Varsha FD
1. Post Office Time Deposit (5-Year)
- Interest Rate: 7.5%
- Tax Benefit: 80C deduction available
- Risk: Govt.-backed, 100% safe
2. Corporate FDs (e.g., HDFC, Bajaj Finance)
- Interest Rate: Up to 8.25%
- Risk: Slightly higher than bank FDs
3. Debt Mutual Funds
- Returns: 7-9% (market-linked)
- Taxation: 20% with indexation after 3 years
Verdict:
- Safety + Returns: Amrit Varsha FD wins
- Tax Savings: Post Office FD better
FAQs About SBI Amrit Varsha FD
❓ Can I withdraw money before 444 days?
⚠️ Yes, but with penalty (0.5-1% lower interest)
❓ Is this FD eligible for a loan?
✅ Yes, up to 90% of deposit amount
❓ Can NRI customers invest?
🇮🇳 Yes, via NRO/NRE accounts
❓ What if I miss the March 31 deadline?
⏳ Scheme closes permanently – no extensions
❓ How is interest paid?
💰 Cumulative option only (lump sum at maturity)
Final Verdict: Should You Invest?
👍 Pros:
✔ Higher interest than regular FDs
✔ Guaranteed returns (SBI-backed)
✔ Short tenure (444 days)
✔ Easy online/offline investment
👎 Cons:
❌ No monthly interest option
❌ No 80C tax benefit
❌ Lower returns than equities
Best For: Senior citizens & conservative investors
Rating: ★★★★☆ (4.5/5)
Next Steps Before March 31 Deadline
- Check Funds Availability
- Compare with Other FDs
- Open FD Online via YONO App
- Submit Form 15G/H if eligible
Will you invest in Amrit Varsha FD? Comment below!