SBI Discontinues Amrit Kalash FD at 7.60%, Introduces New Special FD with 7.75% Interest

The State Bank of India (SBI) has withdrawn its well-known Amrit Kalash Fixed Deposit scheme, effective April 1, 2025. This FD offered attractive returns of up to 7.60% per annum for a 400-day tenure. While this scheme is no longer available, FD investors still have an alternative. SBI’s Amrit Vrishti Fixed Deposit provides a slightly higher interest rate along with additional benefits for senior and super senior citizens.

SBI Ends Amrit Kalash Fixed Deposit Scheme

SBI has stopped its special Amrit Kalash Fixed Deposit scheme. This was a limited-time offer that gave a 7.10% interest rate per year to regular investors and a higher 7.60% rate to senior citizens for a deposit period of 400 days.

According to the SBI website, the Amrit Kalash Fixed Deposit was a 400-day special scheme offering 7.10% interest per year starting from April 12, 2023. Senior citizens were offered a higher interest rate of 7.60%. This scheme has now been withdrawn from April 1, 2025.

SBI Continues Amrit Vrishti Special FD Scheme

SBI’s Amrit Vrishti is a special fixed deposit scheme with a 444-day tenure. Introduced on 15th July 2024, this plan provides a 7.25% annual competitive rate of interest for normal investors.

For senior citizens, the bank provides an additional rate of 7.75%, while for super senior citizens (who are above the age of 80), it is even better at 7.85% per annum. Interest rates, effective from 3rd January 2025.

As per the SBI website, the Amrit Vrishti Fixed Deposit is a special 444-day scheme with an interest rate of 7.25% per annum for general investors, applicable from July 15, 2024. Senior citizens can earn a higher rate of 7.75% from January 3, 2025, and super senior citizens (above 80 years) are given an even better rate of 7.85% per annum.

SBI Patron Special FD Scheme for Super Senior Citizens

SBI has launched a new fixed deposit scheme called “SBI Patrons,” specially designed for Super Senior Citizens (aged 80 years and above). Under this scheme, SBI offers an additional 10 basis points (0.10%) interest over the rates offered to regular senior citizens.

This extra benefit applies to all FD tenures, helping super seniors earn more on their savings. This is in addition to the 50 basis points premium offered under the “SBI We-care” deposit scheme.

SBI WeCare Special FD Scheme for Senior Citizens

SBI offers a special fixed deposit scheme called “SBI WeCare” exclusively for senior citizens. Under this scheme, senior citizens can earn an interest rate of 7.50% per annum on FDs with a tenure ranging from 5 to 10 years.

This scheme is designed to provide extra income security for retirees.