A non-volatile SRAM cell is proposed for low power applications using Spin Transfer Torque-Magnetic Tunnel Junction (STT-MTJ) devices. This novel cell offers non-volatile storage, thus allowing selected blocks of SRAM to be switched off during standby operation. To further increase the power savings, a write termination circuit is designed which detects completion of MTJ write and closes the bidirectional current path for the MTJ. A reduction of 25.81% in the number of transistors and a reduction of 2.95% in the power consumption is achieved in comparison to prior work on write termination circuits.