Latest news with #AmritVrishti
Time of India
20-05-2025
- Business
- Time of India
Comparing 444-day FD schemes: Which bank offers what rate? Check details
AI-generated image Several banks have recently reduced their fixed deposit interest rates , with numerous banks introducing specialised 444-day FD schemes featuring competitive rates. These time-limited offerings seek to draw depositors looking for enhanced returns in a fluctuating interest rate climate. Below is a comprehensive analysis of schemes from four major banks, as quoted by Economic Times. SBI's "Amrit Vrishti" delivers a 6.85% annual interest rate for regular customers. Senior citizens receive 7.35% yearly, while super senior citizens (80 years and above) enjoy 7.45% per annum. These rates commenced from May 16, 2025. Canara Bank's 444-day deposit scheme offers 7.25% yearly interest for regular customers (deposits under Rs 3 crore), with senior citizens receiving 7.75% per annum. This programme began on April 10, 2025. The "Square Drive Deposit Scheme" from Bank of Baroda provides 7.10% annual interest. Senior citizens qualify for 7.60%, and super senior citizens (80 years and above) can earn 7.70% yearly. These rates took effect from May 5, 2025. Indian Bank's "IND SECURE" scheme spans 444 days, offering regular customers 7.15% yearly interest. Senior citizens receive 7.65%, whilst super senior citizens (80 and above) can secure 7.90% per annum. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo This scheme remains available until September 30, 2025. Key details (Source: Bank websites as on May 20, 2025) State Bank of India Scheme: Amrit Vrishti Tenure: 444 Days Rates: 6.85 per cent (General), 7.35 per cent (Senior), 7.45 per cent (Super Senior) Effective: From May 16, 2025 Canara Bank Scheme : 444-Day FD Scheme Rates : 7.25 per cent (General), 7.75 per cent (Senior), Not specified (Super Senior) Effective : From April 10, 2025 Bank of Baroda Scheme : Square Drive Deposit Scheme Rates : 7.10 per cent (General), 7.60 per cent (Senior), 7.70 per cent (Super Senior) Effective : From May 5, 2025 Indian Bank Scheme : IND SECURE Rates : 7.15 per cent (General), 7.65 per cent (Senior), 7.90 per cent (Super Senior) Valid Till : September 30, 2025 Note: Tenure of all schemes is 444 days Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
20-05-2025
- Business
- Time of India
444-day fixed deposit schemes: SBI, Canara Bank, Indian Bank and Bank of Baroda
Several major banks have cut their fixed deposit interest rates and many banks are offering special fixed deposit (FD) schemes with attractive interest rates for a tenure of 444 days. These limited-period schemes aim to attract depositors seeking better returns amid an unstable interest rate environment. Here's a detailed comparison of offerings from State Bank of India (SBI), Canara Bank, Indian Bank and Bank of Baroda. SBI's Amrit Vrishti SBI's Amrit Vrishti scheme—this special 444-day fixed deposit offers an interest rate of 6.85% per annum for general senior citizens, the bank offers 7.35% per annum and for super senior citizens (aged 80 years and above), the bank offers an interest rate of 7.45% per annum on Amrit Vrishti. This rate is effective from May 16, 2025. SBI cuts fixed deposit interest rates again by 20 bps: Check latest FD rates Canara Bank's 444-Day FD Canara Bank offers an FD rate of 7.25% per annum for general citizens on a 444-day deposit for amounts below Rs 3 crore. Senior citizens benefit from a higher rate of 7.75% per annum. This scheme is in effect from April 10, 2025. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Packing Machine From Malaysia Might Be Cheaper Than You Think Packing Machine | Search Ads Undo Canara bank cuts FD rates by up to 20 bps: Check latest rates Bank of Baroda's Square Drive Deposit Scheme Bank of Baroda offers an interest rate of 7.10% per annum on its Square Drive Deposit Scheme with a tenure of 444 days. Senior citizens are eligible for a higher rate of 7.60%, while super senior citizens (aged 80 years and above) can earn up to 7.70% per annum. These revised rates have been effective since May 5, 2025. Indian Bank's IND SECURE Indian Bank is offering a special fixed deposit scheme called IND SECURE with a tenure of 444 days. Under this scheme, general citizens can earn an interest rate of 7.15% per annum, while senior citizens are eligible for 7.65%, and super senior citizens (aged 80 and above) can avail a higher rate of 7.90% per annum. This special FD scheme is open for investment until September 30, 2025. Live Events Bank Scheme Name Tenure General Citizens Senior Citizens Super Senior Citizens Effective/Valid Until State Bank of India Amrit Vrishti 444 Days 6.85% 7.35% 7.45% Effective from May 16, 2025 Canara Bank 444-Day FD Scheme 444 Days 7.25% 7.75% Not specified Effective from April 10, 2025 Bank of Baroda Square Drive Deposit Scheme 444 Days 7.10% 7.60% 7.70% Effective from May 5, 2025 Indian Bank IND SECURE 444 Days 7.15% 7.65% 7.90% Valid till September 30, 2025 Source: Bank websites as on May 20, 2025
Hans India
20-05-2025
- Business
- Hans India
SBI cuts FD rates by 20 bps
New Delhi: SBI cuts FD rates by 20 bpsIndia's largest lender State Bank of India (SBI) has cut fixed deposit rates by 20 basis points across tenors effective May 16. As per the bank's website, the cut in interest rates on retail domestic term deposits below Rs3 crore is applicable for both general public and senior citizens. Deposits for 2 years to less than 3 years give the maximum interest to investors at 6.7 per cent, followed by 3 years to less than 5 years, which give 6.55 per cent interest from May 16. Fixed deposits of 5 years to 10 years now get interest of 6.30 per cent for general public, while it is 6.5 per cent for deposits of duration 1 year to less than 2 years. The interest rate of specific tenor scheme of 'Amrit Vrishti' (444 days) has also been revised from 7.05 per cent to 6.85 per cent effective May 16, 2025. Senior citizens and super senior citizens (aged above 80 years) are eligible for their additional benefits in rate of interest. Last month also, SBI had cut deposit rates by 10-25 basis points, taking cue from the policy rate cuts by the RBI. The Reserve Bank in April had slashed key interest rate by 25 basis points for the second time in a row to support growth facing the threat of reciprocal tariffs by the US.
Time of India
19-05-2025
- Business
- Time of India
SBI cuts FD rates again, business loans may get cheaper
SBI MUMBAI: State Bank of India has cut fixed deposit rates by 20 basis points across all tenors for both the general public and senior citizens from May 16. The move follows a 25 bps repo rate cut by RBI in April and comes ahead of another expected cut in June. RBI also infused nearly Rs 5 lakh crore of liquidity into the system, lowering funding costs. HDFC Bank already reduced rates, and SBI's move is expected to prompt more lenders to follow. This is the second deposit rate revision by SBI during the current fiscal. The country's largest bank cut its deposit (fixed deposit) rates first on April 15 by up to 25 basis points. For the general public, SBI's FD rates now range from 3.3% for 7-45 days (earlier 3.5%) to 6.3% for 5-10 years (earlier 6.5%). Senior citizen rates similarly dropped, with the highest now at 7.3% for 5-10 years, including the SBI We-care premium (earlier 7.5%). In the Rs 1.01 cr-Rs 3 cr non-callable category, 1- and 2-year FDs now offer 6.8% and 7.1% for the public, and 7.3% and 7.6% for senior citizens. The Amrit Vrishti (444-day) scheme rate was cut from 7.05% to 6.85%. Super senior citizens continue to get 10 bps over the senior rate. Revised rates exclude products like recurring deposits, MODS, and Green Rupee Term Deposits. SBI's home loan rates already came down in line with the repo rate reduction. Now, with the reduction in deposit rates, loans to businesses are expected to get cheaper as these are linked to the marginal cost of lending rate. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
19-05-2025
- Business
- Time of India
SBI cuts fixed deposit rates by 20 bps
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: Country's largest lender State Bank of India (SBI) has cut fixed deposit rates by 20 basis points across tenors effective May 16. As per the bank's website, the cut in interest rates on retail domestic term deposits below Rs 3 crore is applicable for both general public and senior for 2 years to less than 3 years gives the maximum interest to investors at 6.7 per cent, followed by 3 years to less than 5 years which gives 6.55 per cent interest from May deposits of 5 years to 10 years now get interest of 6.30 per cent for general public, while it is 6.5 per cent for deposits of duration 1 year to less than 2 interest rate of specific tenor scheme of "Amrit Vrishti"(444 days) has also been revised from 7.05 per cent to 6.85 per cent effective May 16, 2025. Senior citizens and super senior citizens (aged above 80 years) are eligible for their additional benefits in rate of month also, SBI had cut deposit rates by 10-25 basis points, taking cue from the policy rate cuts by the Reserve Bank in April had slashed key interest rate by 25 basis points for the second time in a row to support growth facing the threat of reciprocal tariffs by the US. The policy repo rate now stands at 6 per of SBI were trading at Rs 793.95, up 0.27 per cent over previous close on BSE.
