SBI Amrit Kalash special FD scheme with higher interest rate extended; check details This special FD offers an interest rate of 7.1% for regular customers and 7.6% for senior citizens
State Bank of India (SBI) has extended its 'Amrit Kalash' special fixed deposit scheme for retail customers. According to the SBI website, this 400-day term deposit offers a rate of 7.1% for regular customers and 7.6% for senior citizens.As per the SBI website, “The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%.” This SBI special FD scheme also includes premature withdrawal and loan against deposit options.
The SBI Amrit Kalash scheme has been extended till August 15, 2023. Earlier, the scheme was valid till June 30 after it was reintroduced in April 2023.
How to invest in SBI Amrit Kalash
SBI Amrit Kalash FD Scheme can be booked through an SBI branch, internet banking or the SBI YONO app.Important Features of SBI Amrit Kalash
Here is a look at important features of the SBI Amrit Kalash special FD, as per the SBI website.Who is eligible to invest
Domestic Retail Term Deposits including NRI Rupee Term Depositsii) New and Renewal Deposits
iii) Term Deposit and Special Term Deposit only.
Payment of interest
Payment of interest on special term deposits is made on maturity ii) Interest, net of TDS, will be credited to the customer’s account.Premature Withdrawal
According to the SBI website, “The interest shall be 0.50% to 1% below the rate applicable at the time of Deposits for the period Deposit has remained with the Bank or 0.50% or 1% below the contracted rate, whichever is lower.”TDS
TDS is levied in accordance with Income Tax Rules. The depositor can use Form 15G/15H to request an exemption from tax deduction under IT Rules.SBI FD interest rates
State Bank of India offers interest rates between 3% and 7% for general citizens for amounts below Rs 2 crore and for senior citizens, interest rates offered are between 3.50% and 7.50%.The highest interest rate offered is 7% for general citizens and 7.50% for senior citizens on tenure of 2 years to less than 3 years.
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This story originally appeared on: India Times - Author:Faqs of Insurances
