1. Special Deposit Scheme – Amrit Vrishti
- Revised Interest Rate: 7.05% (down by 20 basis points from 7.25%)
- Tenure: 444 days
- Effective Date: April 15, 2025
- Senior Citizens: 7.55%
- Super Senior Citizens (above 80 years): 7.65%
- Previous Rate: Launched in July 2024 at 7.25% for a limited period
- Context: Follows RBI’s second repo rate cut of 25 bps in 2025
2. Regular Retail Fixed Deposits
- Highest Interest Rate Offered: 6.90%
- Comparative Special Rates: Still more attractive than regular FD offerings
3. Lending Rate Revisions
- External Benchmark Linked Rate (EBLR):
- Old: 8.90%
- New: 8.65%
- Repo-Linked Lending Rate (RLLR):
- Old: 8.50%
- New: 8.25%
- Marginal Cost of Funds Based Lending Rate (MCLR):
- Status: Unchanged (ranges from 8.20% to 9.10%)
4. Strategic Context and Trends
- Banking Liquidity: Surplus liquidity conditions in the system
- RBI Policy Support: Repo rate cut aimed at boosting liquidity and credit flow
- Retail Deposit Mobilization: SBI and other banks introduced higher-rate special schemes in FY25 amid lagging deposit growth and high credit demand
- Previous Special Scheme: SBI’s 400-day FD at 7.10% was launched in April 2023 and valid until March 31, 2024
