In the existing financial scenario, a steady return on savings remains the prime concern for prospective investors. The FDs are said to be safe and steady, especially in the hands of a bonafide institution like the State Bank of India. SBI has approached the citizenry with a limited-time lucrative interest rate FD scheme aiding its senior citizens to engorge their earnings. However, the catch is that these are available till March 31, 2025, one has to hurry.
Now, let’s delve deeper into these select FD schemes and see how they can work in your favor.
1. SBI Amrit Vrishti FD – 444 Days with High Returns
The SBI Amrit Vrishti FD is a special 444-day deposit scheme offering 7.25% interest for general citizens and an enhanced 7.75% for senior citizens.
Estimated Returns on ₹2 Lakh Investment
| Investment Amount | Interest Rate (General) | Interest Rate (Senior Citizen) | Maturity Amount (General) | Maturity Amount (Senior Citizen) |
|---|---|---|---|---|
| ₹2,00,000 | 7.25% | 7.75% | ₹2,14,500 | ₹2,15,500 |
- General Citizens: Earn ₹14,500 profit at maturity.
- Senior Citizens: Gain ₹15,500—an additional ₹1,000 benefit.
2. SBI Amrit Kalash FD – 400 Days with Competitive Rates
Another limited-time offer, the SBI Amrit Kalash FD, provides 7.10% interest for general investors and 7.60% for senior citizens over 400 days.
Estimated Returns on ₹1 Lakh Investment
| Investment Amount | Interest Rate (General) | Interest Rate (Senior Citizen) | Maturity Amount (General) | Maturity Amount (Senior Citizen) |
|---|---|---|---|---|
| ₹1,00,000 | 7.10% | 7.60% | ₹1,07,781 | ₹1,08,329 |
- General Citizens: Receive ₹7,781 in returns.
- Senior Citizens: Get ₹8,329, ensuring higher earnings.
3. SBI WeCare FD – Exclusive Benefits for Senior Citizens
Designed specifically for senior citizens, the SBI WeCare FD offers an additional 1% interest compared to regular FDs. With a 7.50% interest rate and a 5 to 10-year tenure, this scheme maximizes long-term gains.
Estimated Returns on ₹1 Lakh (5-Year Investment)
- Maturity Amount: Approximately ₹1,44,000 (with compounding).
This scheme is ideal for retirees looking for steady, risk-free income.
Why Choose SBI’s Special FD Schemes?
- Higher Interest Rate–Enhanced returns as compared to normal FDs.
- Government-Backed Security-Total safety for your hard-earned money.
- Flexible Investment- Starting from ₹1000, one can invest as per his or her capacity.
- Benefits for Senior Citizens-Extra 1% interest means greater ease of living.
- Long-Term Growth-For those who would want to accumulate their wealth steadily over the long term.