If you’ve been searching for secure investment options with guaranteed returns, then the latest SBI Special FD scheme is something you should definitely consider. The buzz around this scheme is real, especially because State Bank of India (SBI) is offering an attractive maturity amount of ₹5,46,330 in just 400 days!
In this article, we will break down everything you need to know about this SBI Special Fixed Deposit (FD) plan. Whether you’re a beginner trying to understand how FDs work, or a seasoned investor looking for updated information, we’ve got you covered. Plus, we’ll give you clear examples, official links, and even a maturity calculation guide!
SBI Special FD Details
| Feature | Details |
|---|---|
| Scheme Name | SBI Special FD (Amrit Vrishti Scheme) |
| Tenure | 400 Days |
| Interest Rate (General Citizens) | 7.25% per annum |
| Interest Rate (Senior Citizens) | 7.75% per annum |
| Minimum Investment Amount | ₹1,000 |
| Example Maturity Amount (₹5,00,000) | ₹5,46,330 after 400 days (for general citizens) |
| Scheme Validity | Available till March 31, 2025 |
| Premature Withdrawal Facility | Available with nominal penalty |
The SBI Special FD (400 Days) scheme is an excellent opportunity for those looking to earn higher, guaranteed returns in a short time frame. With an interest rate of 7.25% (7.75% for seniors), it is one of the most rewarding FDs in the market. Whether you’re saving for a goal or just want a secure place to park your funds, this scheme is worth considering.
What is SBI Special FD Scheme?
The SBI Special FD Scheme, officially known as Amrit Vrishti, is a limited-period fixed deposit plan introduced by the State Bank of India. It is part of SBI’s effort to offer higher returns for short to medium-term investors, especially in the current economic climate where interest rates are attractive.
Under this scheme:
- General depositors earn an interest rate of 7.25% p.a.
- Senior citizens enjoy an even higher rate of 7.75% p.a.
The maturity period is exactly 400 days, making it an appealing choice for those who want returns within a little over a year.
see also: SBI’s Amazing Scheme Get a Huge Interest of ₹31,990
How Much Do You Need to Deposit to Get ₹5,46,330?
Here’s where it gets interesting! SBI’s calculations show that if you deposit ₹5,00,000, at an interest rate of 7.25%, you will receive ₹5,46,330 after 400 days.
Example Breakdown:
| Particulars | Details |
|---|---|
| Principal Amount | ₹5,00,000 |
| Interest Rate | 7.25% per annum |
| Tenure | 400 days (~13 months) |
| Total Maturity Amount | ₹5,46,330 |
| Total Interest Earned | ₹46,330 |
For senior citizens, the same investment yields even more, approximately ₹5,49,648, thanks to the extra 0.50% interest rate advantage.
How to Open SBI Special FD (400 Days)
Let’s walk you through the simple process of opening an SBI Special FD:
1. Check Eligibility
- Available for Resident Individuals, NRIs, Senior Citizens, and HUFs (Hindu Undivided Families).
2. Choose the Deposit Amount
- Minimum deposit starts at ₹1,000.
- No maximum limit; you can invest according to your financial goals.
3. Select the Tenure
- Specifically 400 days for this scheme.
4. Open the FD
- Online (YONO SBI app / Net Banking):
- Login to your SBI account.
- Navigate to Deposit > Fixed Deposit > Special Schemes.
- Select Amrit Vrishti (400 days).
- Enter deposit amount and confirm.
- Offline:
- Visit your nearest SBI branch.
- Fill in the FD application form and submit with KYC documents.
5. Nomination & Tax Saving Option
- Add nominee details.
- Please note: This scheme does not offer tax deduction benefits like the 5-Year Tax-Saving FD.
Why Choose SBI Special FD?
Here are some key advantages of opting for this special scheme:
| Pros | Details |
|---|---|
| High Interest Rate | 7.25%-7.75% p.a. is one of the most competitive rates in the market. |
| Guaranteed Returns | Your returns are fixed and risk-free, regardless of market conditions. |
| Short Lock-in Period | Only 400 days, offering better liquidity compared to long-term FDs. |
| Premature Withdrawal Option | You can withdraw early (with a nominal penalty), providing flexibility. |
| Available for NRIs & HUFs | Broader eligibility criteria. |
| Trusted Institution | Backed by India’s largest public sector bank, State Bank of India (SBI). |
Comparison with Other FD Schemes
| Bank Name | FD Tenure | Interest Rate (General) | Interest Rate (Senior Citizens) |
|---|---|---|---|
| SBI Special FD | 400 days | 7.25% | 7.75% |
| HDFC Bank Special FD | 400 days | 7.20% | 7.70% |
| ICICI Bank Special FD | 400 days | 7.10% | 7.60% |
| Axis Bank Special FD | 400 days | 7.10% | 7.60% |
Clearly, SBI’s offering is among the highest for this tenure bracket, making it a preferred choice for many.
see also: Section 43B of the Income Tax Act: Rules, Deductions, and Compliance Explained
SBI Special FD Details FAQs
1. What is the interest rate for the SBI 400 days FD scheme?
The interest rate is 7.25% per annum for general citizens and 7.75% per annum for senior citizens.
2. Is there any maximum deposit limit in this FD scheme?
No, there is no maximum deposit limit. You can invest as much as you wish, starting from ₹1,000.
3. Can NRIs open this Special FD?
Yes, the scheme is available for Non-Resident Indians (NRIs) as well.
4. Is the SBI Special FD scheme tax-free?
No, the interest earned is fully taxable, and TDS is applicable as per income tax rules.
5. How can I calculate my maturity amount?
You can use the official SBI FD Calculator to estimate your returns.
