SBI 444-day FD vs SBI 400-day FD: Which can give you higher maturities on Rs 2 lakh, 4 lakh, and 6 lakh investments?
A Fixed Deposit (FD) is a straightforward investment option where you deposit a lump sum, and it grows over time at a fixed interest rate. Special FDs usually offer higher interest rates than regular ones. SBI has introduced two such schemes—Amrit Vrishti and Amrit Kalash—both offering attractive interest rates but with different tenures.
SBI 444-day FD vs SBI 400-day FD: Fixed Deposits (FDs) provide stable returns with a fixed interest rate, allowing you to invest a lump sum for durations ranging from 7 days to 10 years. Special fixed deposit schemes function similarly to regular term deposits, but banks and small finance banks introduce them for a limited timeframe. Depending on investor demand, banks may extend the investment period for these FDs. These special FDs typically offer higher interest rates than standard fixed deposits.
A notable example is SBI's Amrit Vrishti and Amrit Kalash schemes, which provide higher interest rates for tenures of 444 days and 400 days, respectively.
Let's explore these special SBI FDs in detail and compare the returns that general and senior citizens can earn on investments of Rs 2 lakh, Rs 4 lakh, and Rs 6 lakh.
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(Disclaimer: Our calculations are projections and not investment advice. Do your due diligence or consult an expert for financial planning)
What is SBI Amrit Vrishti?
SBI's Amrit Vrishti scheme is a new variant of retail term deposit introduced by SBI in July 2024. This scheme comes with a single tenure of 444 days. It is available for both domestic and non-resident Indian (NRI) customers, with an additional interest rate benefit specifically for senior citizens.
What is SBI Amrit Kalash?
SBI launched the Amrit Kalash scheme in February 2023, offering a higher interest rate as a special benefit. Initially, the deadline to apply for this special fixed deposit (FD) was September 30, 2024. However, the bank has extended the deadline multiple times, now allowing both general customers and senior citizens to invest in the scheme until March 31, 2025.
SBI Amrit Vrishti-444 day FD: Interest rate
The interest rate for general citizens is 7.25 per cent, while senior citizens receive higher rate of 7.75 per cent.
SBI Amrit Kalash-400 day FD: Interest rate
The interest rate for general citizens is 7.10 per cent, while senior citizens benefit from a 7.60 per cent rate.
SBI Amrit Vrishti: Maturity on Rs 2 lakh investment
For an investment of Rs 2 lakh, general citizen can get an estimated maturity amount of Rs 2,18,267.08, while senior citizen can receive approximately Rs 2,19,574.08.
SBI Amrit Kalash: Maturity on Rs 2 lakh investment
For an investment of Rs 2 lakh, general citizen can get an estimated maturity amount of Rs 2,16,035.58, while a senior citizen can receive approximately Rs 2,17,201.11.
SBI Amrit Vrishti: Maturity on Rs 4 lakh investment
For an investment of Rs 4 lakh, general citizen can get an estimated maturity amount of Rs 4,36,534.15, while a senior citizen can receive approximately Rs 4,39,148.17.
SBI Amrit Kalash: Maturity on Rs 4 lakh investment
For an investment of Rs 4 lakh, general citizen can get an estimated maturity amount of Rs 4,32,071.15, while a senior citizen can receive approximately Rs 4,34,402.21.
SBI Amrit Vrishti: Maturity on Rs 6 lakh investment
For an investment of Rs 6 lakh, general citizen can get an estimated maturity amount of Rs 6,54,801.23, while a senior citizen can receive approximately Rs 6,58,722.25.
SBI Amrit Kalash: Maturity on Rs 6 lakh investment
For an investment of Rs 6 lakh, general citizen can get an estimated maturity amount of Rs 6,48,106.73, while a senior citizen can receive approximately Rs 6,51,603.32.