The bank is giving good returns on these. The last date for investment in both these schemes is 31st March. That means only a few days are left.

o invest money, many people prefer Fixed Deposit (FD) instead of the stock market. FD gives a fixed return to the investors irrespective of the fluctuations in the stock market. Banks launch special FDs from time to time. These give higher returns than normal FDs. State Bank of India (SBI) has two such special FDs. These are giving up to 7.75% interest. If you want to invest in these, then hurry up. The last date for investing in these is 31st March.

The names of these two special FDs of SBI are SBI Amrit Vrishti and SBI Amrit Kalash. Actually, SBI runs many special FD schemes for different types of investors. These FD schemes are made keeping in mind the needs of different people. Investment is made in special FDs only for a fixed period. After that these schemes end.

1. SBI Amrit Vrishti

SBI Amrit Vrishti is a special FD scheme which is for 444 days. Common people get 7.25% annual interest in this scheme. At the same time, senior citizens get 7.75% interest. You can invest in this FD scheme till March 31, 2025.

How much return will you get?

If you invest one lakh rupees in this scheme, then after 444 days i.e. on maturity, this amount will increase to Rs 109266. That is, you will get Rs 9266 as interest. Senior citizens will get Rs 109936.

If you invest Rs 2 lakh in it, then on maturity this amount will increase to Rs 218532. That is, you will get Rs 18532 as interest. Senior citizens will get Rs 219859 on maturity.

2. SBI Amrit Kalash

SBI Amrit Kalash is another special FD scheme which is for 400 days. This scheme gives 7.10% annual interest. Senior citizens get 7.60% interest in this FD scheme. You can also invest in this till 31 March 2025.

How much return will you get?

If you invest one lakh rupees in this scheme, then after 400 days i.e. on maturity, this amount will increase to Rs 107781. That is, you will get Rs 7781 as interest. Whereas senior citizens will get Rs 108329.

If you invest Rs 2 lakh in it, then on maturity this amount will increase to Rs 215562. That is, you will get Rs 15562 as interest. On the other hand, senior citizens will get Rs 216658 on maturity.

How can you invest?

To invest in these FDs, you will have to go to the nearest SBI branch with the necessary documents. If you have a bank account in SBI, you can also start investing in it online. Investment in these FDs can also be started through internet banking or SBI’s YONO app.

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But it is not so because even in government banks now good returns are being received on fixed deposits. The biggest example of this is the country’s largest public sector bank, State Bank of India (SBI). Which provides attractive benefits to senior citizens in a special investment scheme named ‘SBI WeCare Special FD’.

Your money can be doubled

By investing in this FD scheme, the money doubles directly. The bank launched this We Care FD especially for senior citizens during the Covid pandemic. So that along with keeping their funds safe, they can also get high returns with higher interest rates on it. Now the bank has extended the availability of this special FD scheme for senior citizens till 30 September 2023. Let us know the benefits of WeCare FD-

Chance to get 7.50 percent interest

According to the SBI website, senior citizens are eligible for an additional 0.50 per cent interest rate. In the WeCare FD scheme, 7.50 percent interest rate is available on Fixed Deposit (FD) with a tenure of 5 years to 10 years. You can book FD under this scheme through net banking, Yono app or by visiting the branch. On which interest is received after deducting TDS on monthly, quarterly, half yearly or annual basis. The interest rate on Regular Fixed Deposit ranges from 3.50% to 7.50% for tenures ranging from 7 days to 10 years.

Would be so beneficial

By investing in this FD scheme, your money doubles in 10 years. For example, if you invest 5 lakh rupees as FD for a period of 10 years, then in these 10 years the bank gives you an interest of about 5 lakh rupees at an interest rate of 6.5 percent. Due to which your money doubles.

SBI’s Amrit Kalash FD Scheme

Apart from this, SBI has also extended the tenure of ‘Amrit Kalash Special FD scheme’, which provides higher interest rates to both senior citizens and other customers as compared to FDs of different tenures.

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Interest rates on SBI WeCare FD (SBI WeCare FD interest rate)

The bank gives 0.50 more interest to senior citizens than the general customer on any FD. SBI WeCare is getting 7.50% interest. Investments under the scheme are made for a minimum of 5 years and a maximum of 10 years. These rates will be available on new and renewable FDs. The last date to invest in this scheme is 30 September 2023. Apart from this, there is Amrit Kalash scheme of SBI, which is being run keeping senior citizens in mind.

SBI WeCare FD Scheme

If you invest in SBI’s VCare Special FD scheme, then you get interest at the rate of 7.5 percent. In this scheme of SBI, customers get 0.30% more interest than regular FD. If you join this FD scheme then you can also get loan facility.

Money will double in so many years

At present, SBI Bank customers are getting interest at the rate of 7.5 per cent on VCare FD. If seen, the money in this will double in 10 years at this rate of interest. That is, if you invest Rs 5 lakh, you can get more than Rs 10 lakh at the time of maturity. For Rs 5 lakh, you will get Rs 5.5 lakh as interest in 10 years. The bank is offering 6.5 per cent interest on 10-year FDs on regular FDs. SBI gives interest ranging from 3.50 per cent to 7.60 per cent on its FDs.

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