SBI’s new FD scheme for 2026 is drawing attention from savers in Indore who want a fixed return with low risk. State Bank of India’s (SBI) Amrit Vrishti special Fixed Deposit (FD) is reported to offer 6.60 per cent to regular customers and 7.10 per cent to senior citizens for a 444-day tenure. Updated: 12 October 2026.
Senior citizens are said to get 0.50 percentage points more than regular customers. Below you will find the interest details, the senior citizen benefit, how to open the FD and a comparison with PNB.
SBI New FD Scheme 2026
| Detail | Information |
|---|---|
| Bank | State Bank of India (SBI) |
| Scheme name | Amrit Vrishti special FD scheme |
| Tenure | 444 days |
| Interest rate for regular customers | 6.60% per year |
| Interest rate for senior citizens | 7.10% per year (with additional interest) |
| Minimum deposit | ₹1 lakh |
| For comparison | SBI’s regular five-year FD rates are 6.05% and 7.05% |
| Where to open | Branch, net banking or the YONO app |
| Updated on | 12 October 2026 |
Amrit Vrishti FD: Interest Rate and What ₹1 Lakh Can Earn
The Amrit Vrishti special FD is a 444-day scheme. It offers 6.60% a year to regular citizens and 7.10% to senior citizens. That is higher than SBI’s regular five-year FD, where the rates are 6.05% and 7.05%.
The gap looks small, but it adds up the longer the money stays invested. With this tenure, your money is not locked in for a very long time, and you still earn a good rate. That balance is why the scheme is in the news.
Now an example. If a senior citizen deposits ₹1,00,000 at 7.10% for five years, the interest comes to ₹41,826 and the total becomes ₹1,41,826. This is a five-year example only. The Amrit Vrishti tenure is 444 days, so the interest amount there will be different.
Extra Interest Benefit for Senior Citizens
Senior citizens get 0.50 percentage points more than regular customers, which means 7.10% instead of 6.60%. For retirees with a fixed income, this extra interest can help with medicines, bills and daily household costs.
Bank FDs are considered a low-risk option. Unlike the stock market, there are no daily ups and downs to worry about. This is why elders and cautious investors like them.
In retirement planning, an FD can be combined with the Public Provident Fund (PPF) or pension schemes, so that all savings are not kept in one place.
Things to Keep in Mind Before Investing in an FD
An FD carries low risk, but some common slips can still cause losses or confusion. Watch out for these points:
- Tenure versus the example: The scheme runs for 444 days, while the interest example above is for five years. Do not mix the two, and confirm the tenure before depositing.
- Minimum amount: This FD starts at ₹1 lakh. It cannot be opened with a smaller sum.
- Incomplete KYC: Without Aadhaar, PAN and, for senior citizens, an age proof, opening the FD can be delayed.
- Looking only at the higher rate: PNB’s rate is quoted at 7.60%, but it needs a minimum deposit of ₹2 lakh and its tenure is not given here. Check the conditions and tenure along with the rate.
- Putting all savings in one place: Do not put everything into one FD. Keep some money where you can withdraw it easily in an emergency.
How to Open an SBI FD: Step by Step
Step 1: Keep your KYC documents ready
Carry your Aadhaar and PAN cards. Senior citizens should also keep an age proof so that the 7.10% rate can be applied.
Step 2: Choose how to deposit
Visit an SBI branch, log in to internet banking or open the YONO app. Pick whichever is most convenient for you.
Step 3: Select the Amrit Vrishti scheme and 444 days
While booking the FD, choose the Amrit Vrishti special FD and enter 444 days as the tenure. Senior citizens should mention it too.
Step 4: Deposit the amount
Transfer at least ₹1 lakh from your account. The rate is reported to apply from the day of deposit.
Step 5: Confirm and keep the receipt
Once the FD is created, keep the confirmation and receipt safe. Check the maturity date and the interest amount once.
SBI FD in Indore: Where Savers Can Go
Savers in Indore district can visit an SBI branch near their home or office and ask an officer about the current rate and tenure of the scheme. This is the most reliable way. Those who use net banking or YONO can also open an FD from home.
Across the Malwa region and Madhya Pradesh, retired employees, traders and families often choose bank FDs for safe savings. Elders in Indore are advised to take a family member along to the branch and keep all papers ready in advance.
If your bank account has been lying inactive, ask the bank to reactivate it first. Our article on the RBI rules on three types of bank accounts that may be closed has the full details.
Stay away from anyone who calls or messages asking for bank details, OTPs or money in the name of an FD. Deposit only through a branch, official net banking or the YONO app.
SBI vs PNB: What Is the Difference
Comparing rates and conditions across banks is useful. PNB’s tenure is not given here, so this is not a like-for-like comparison.
| Point | SBI (Amrit Vrishti) | Punjab National Bank (PNB) |
|---|---|---|
| Interest rate | 6.60% (regular), 7.10% (senior) | 7.60% |
| Tenure | 444 days | Not available |
| Minimum deposit | ₹1 lakh | ₹2 lakh |
| Ways to deposit | Branch, net banking, YONO app | Facilities offered by the bank |
| Branches | Branches across the country | Public sector bank |
PNB’s rate is higher, but it needs double the amount. For savers with a smaller sum, SBI’s ₹1 lakh entry point is easier.
Frequently Asked Questions (FAQs)
How much interest does SBI’s 444-day FD scheme pay?
Under the Amrit Vrishti special FD scheme, regular customers are offered 6.60 per cent and senior citizens 7.10 per cent a year. This is higher than the rates on a regular five-year FD.
How much interest will a senior citizen get on a ₹1 lakh FD?
Senior citizens get a rate of 7.10 per cent. The actual interest depends on the amount and the tenure, so the five-year example is worked out above, and the amount for a 444-day tenure will be different.
What is the minimum deposit in SBI’s new FD?
The minimum deposit for this scheme is ₹1 lakh. By comparison, PNB is quoted at 7.60 per cent with a minimum of ₹2 lakh, but its tenure is not given here.
Where can I open an SBI FD in Indore?
In Indore, you can open an FD at your nearest SBI branch. You can also do it from home through net banking or the YONO app. Keep your Aadhaar and PAN with you.
Is this FD suitable for retirement planning?
Bank FDs are considered a low-risk option and the interest is fixed, so they can work in a retirement plan, especially for senior citizens. They can be combined with PPF or pension schemes.
Note: This information is based on details available as of 12 October 2026. Please check the official portal for final confirmation.
| Official link | Use |
|---|---|
| sbi.co.in | SBI’s official website, FD rates and information |
| rbi.org.in | Official website of the Reserve Bank of India |