Summary: State Bank of India’s Amrit Vrishti Fixed Deposit is a special-tenure deposit scheme originally introduced with a maturity period of 444 days. SBI’s historical interest-rate disclosure records a revision from 6.85% to 6.60% per annum for general customers effective 15 June 2025. That historical rate does not establish availability or the rate for fresh deposits on 8 October 2026. Customers should verify current terms with SBI. Interest is generally taxable, while Section 194A contains applicable TDS thresholds. DICGC cover is subject to a statutory ceiling of ₹5 lakh per depositor per bank in the same right and capacity. This article examines historical scheme features, maturity calculations, withdrawal, taxation and documentation.
- 1. What Is SBI Amrit Vrishti Fixed Deposit?
- 2. SBI Amrit Vrishti Interest Rates
- 3. Eligibility and Booking Conditions
- 4. Illustrative 444-Day Maturity Calculation
- 5. Senior Citizen and Super Senior Citizen Benefits
- 6. Cumulative and Periodic Interest
- 7. Premature Withdrawal and Renewal
- 8. Income Tax and TDS
- 9. DICGC Deposit Insurance
- 10. Accounting and Documentation
- 11. Amrit Vrishti Versus Regular SBI FDs
- 12. Frequently Asked Questions
- Key Takeaways
1. What Is SBI Amrit Vrishti Fixed Deposit?
SBI Amrit Vrishti is a special-tenure term deposit historically associated with 444 days. Unlike regular FDs offering several maturity periods, the scheme has a specified tenure and a rate applicable to the eligible depositor category at booking. Its current availability must be independently confirmed.
| Particular | Details |
|---|---|
| Bank | State Bank of India |
| Scheme | Amrit Vrishti |
| Historical tenure | 444 days |
| Historical general rate effective 15 June 2025 | 6.60% per annum |
| Senior citizen benefit | Subject to SBI terms |
| Fresh booking on 8 October 2026 | Not independently confirmed |
| Premature withdrawal | Subject to deposit terms |
| Deposit insurance | DICGC statutory coverage |
2. SBI Amrit Vrishti Interest Rates
SBI’s historical rate disclosure recorded a reduction in the general customer rate from 6.85% to 6.60% effective 15 June 2025. This must not be represented as the current rate on 8 October 2026. Senior and super senior citizen premiums are subject to the operative SBI schedule and eligibility conditions. Existing fixed-rate deposits ordinarily retain the contractual rate until maturity, subject to their terms.
3. Eligibility and Booking Conditions
Before booking, verify whether SBI is accepting fresh deposits, the permitted customer categories, deposit slabs, joint-holder rules, callable or non-callable status, and senior-citizen eligibility. Resident and non-resident deposits may have different contractual and tax conditions. Do not infer the applicability of regular FD terms to every special scheme.
4. Illustrative 444-Day Maturity Calculation
Illustration only: Assume principal ₹1,00,000, annual interest 6.60%, tenure 444 days and quarterly compounding. Approximate maturity = 100,000 × (1 + 0.066/4)^(444 × 4/365) = ₹108,257 (approximately); interest = ₹8,257 before tax. This fractional-quarter approximation is not an SBI maturity quotation. The bank’s actual day-count and compounding conventions may produce a different amount.
5. Senior Citizen and Super Senior Citizen Benefits
Eligible senior citizens may qualify for a higher contractual rate. SBI Patrons has historically provided an additional benefit for eligible customers aged 80 or more, subject to bank terms. Confirm whether the quoted special-scheme rate already includes a premium and whether any additional benefit can be combined. Joint deposits should follow the bank’s first-holder and eligibility rules.
6. Cumulative and Periodic Interest
| Feature | Cumulative deposit | Periodic payout deposit |
|---|---|---|
| Interest | Reinvested | Paid at agreed intervals |
| Cash flow | Primarily at maturity | Periodic receipts |
| Yield | Compounding affects maturity | Payout convention affects effective yield |
| Tax | Applicable interest taxation | Applicable interest taxation |
Verify which payout choices SBI actually offers under the scheme. A feature available for regular term deposits may not automatically apply to Amrit Vrishti.
7. Premature Withdrawal and Renewal
Where premature closure is permitted, the bank may recalculate interest using the rate for the actual holding period and apply a penalty. A 444-day rate should not be assumed when a deposit is withdrawn after 200 days. Check premature closure restrictions, penalty, overdraft or loan facility, nomination, automatic renewal and maturity instructions. Renewal may attract the rate prevailing on the renewal date.
8. Income Tax and TDS
For FY 2026-27 (AY 2027-28), fixed-deposit interest is generally taxable under Income from Other Sources unless appropriately classified as business income. The principal deposited is not itself taxable merely because it is placed in an FD. The taxable amount and timing depend on the taxpayer’s circumstances and applicable accounting method.
Under Section 194A of the Income-tax Act, 1961, as amended by Finance Act 2025, the relevant annual bank-interest TDS thresholds are ₹50,000 for eligible resident non-senior citizens and ₹1,00,000 for eligible resident senior citizens. Qualifying interest is aggregated according to the applicable payer and core banking rules; these are not per-FD exemptions. The normal TDS rate is generally 10% where PAN requirements are satisfied. When the threshold is crossed, TDS generally applies to the full qualifying interest, not only the excess.
Example: For ₹65,000 aggregate qualifying interest of an eligible resident non-senior individual, normal 10% TDS would be ₹6,500, assuming all statutory conditions apply. TDS is not final tax. Eligible depositors may submit Form 15G or 15H only when statutory conditions are met. Section 80TTB may allow eligible resident senior citizens a deduction for specified interest under the old regime, subject to its conditions. Non-resident interest requires separate analysis.
9. DICGC Deposit Insurance
Eligible deposits are generally insured up to ₹5 lakh per depositor per bank in the same right and capacity, aggregating principal and interest. Savings and FDs in the same ownership capacity at the same bank are combined. Splitting the balance among several FDs at SBI does not by itself multiply the insurance ceiling. Distinct banks and legally different ownership capacities may be treated separately under DICGC rules.
10. Accounting and Documentation
Keep the deposit advice, rate and tenure confirmation, maturity instructions, interest certificate, nomination acknowledgement, PAN details, TDS records and withdrawal conditions. Businesses should recognise interest accruals, reconcile TDS receivables, classify restricted and unrestricted deposits appropriately, and apply the relevant AS or Ind AS measurement and presentation requirements.
11. Amrit Vrishti Versus Regular SBI FDs
| Factor | Amrit Vrishti | Regular SBI FD |
|---|---|---|
| Tenure | Historically 444 days | Multiple tenures |
| Rate | Special-tenure schedule | Tenure-based schedule |
| Withdrawal | Scheme-specific conditions | Applicable regular FD conditions |
| Tax and DICGC | Applicable statutory rules | Applicable statutory rules |
A special-tenure FD is not automatically superior. Compare effective after-tax yield, cash-flow needs, maturity date and premature closure consequences using the same booking date and principal.
12. Frequently Asked Questions
1. What is the Amrit Vrishti tenure? It has historically been 444 days; confirm the currently offered scheme.
2. What rate applied from 15 June 2025? SBI’s historical general-customer rate was 6.60% per annum.
3. Is it open for booking on 8 October 2026? This has not been independently confirmed; check directly with SBI.
4. Do senior citizens get extra interest? Benefits depend on age and applicable SBI conditions.
5. Is the interest taxable? Generally yes, according to the applicable income-tax rules.
6. What is the senior citizen TDS threshold? ₹1,00,000 annual qualifying bank interest under the applicable Section 194A provisions.
7. Can the FD be closed early? Only subject to the scheme’s premature withdrawal terms and any penalty.
8. Is the full deposit insured? No; the DICGC statutory ceiling and aggregation rules apply.
Key Takeaways
444 days is the historically associated special tenure.
6.60% effective 15 June 2025 is historical, not a verified current rate.
Senior citizen benefits and premature withdrawal depend on operative SBI terms.
FD interest is generally taxable even if no TDS is deducted.
DICGC coverage is subject to its ₹5 lakh statutory limit.
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Disclaimer: This article is intended for general information and education as of 8 October 2026. Scheme availability, interest rates, eligibility, tax provisions and withdrawal conditions may change. Readers should verify current SBI disclosures and applicable law before acting. Illustrations are hypothetical and not guaranteed returns or financial advice. Neither TaxGuru nor its authors accept responsibility or liability for errors, omissions, reliance, financial losses or decisions based on this article.
