Most people resort to bank FD to invest money. Investing in bank FD is also very popular among people. Now the country’s largest bank SBI has announced a change in its FD interest rates from 15 April 2025.
According to the bank’s website, interest rates have been cut by 10 basis points in interest rates for a period of 1 to 3 years, which is applicable to both normal customers and senior citizens. With this change, SBI has also resumed its special “Amrit Vrishti” FD scheme with revised rates for a period of 444 days.
FD interest rates for senior citizens
Since the change, SBI provides interest rate between 3.50% to 6.9% (without special deposits) for a period from 7 days to 10 years. For senior citizens, the bank provides interest rate between 4% to 7.50%. For senior citizens, the interest rate for fixed deposits ranging from 1 year to 2 years has been reduced from 7.30% to 7.20% and the interest rate for FD less than 2 years to 3 years has been reduced from 7.50% to 7.40%.
SBI Amrit Vrishti
State Bank of India (SBI) has resumed its special plan “Amrit Vrishti”, which includes a period of 444 days by decreasing the interest rate by 20 basis points. The scheme will be effective from April 15, 2025. This scheme now provides a high interest rate of 7.05% per year for ordinary citizens.
Senior citizens are being given a discount of 50 basis marks at 7.55% per year. Earlier, in this scheme, customers were offered a high interest rate of 7.25% per year. Senior citizens were being offered a 50 basis point higher interest rate of 7.75%.