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    Question

    Which of the following is the correct interest rate for

    senior citizens under SBI's Amrit Vrishti scheme?
    A 6.75% per annum Correct Answer Incorrect Answer
    B 7.00% per annum Correct Answer Incorrect Answer
    C 7.25% per annum Correct Answer Incorrect Answer
    D 7.50% per annum Correct Answer Incorrect Answer
    E 7.75% per annum Correct Answer Incorrect Answer

    Solution

    The State Bank of India (SBI) has introduced the Amrit Vrishti scheme, offering an interest rate of 7.25% per annum on 444-day term deposits available until March 31, 2025. Senior citizens are eligible for an additional 0.50% interest rate, making their total rate 7.75% per annum. This enhanced rate aims to attract more senior citizen deposits and provides a higher return on their savings.

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