SBI Amrit Kalash: Only few days left to invest in this special FD with higher FD rates
State Bank of India (SBI) has many times extended the last date of 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.Amrit Kalash
The last date to invest in Amrit Kalash is December 31, 2023. As per the 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%. The Scheme will be valid till 31-December-2023.”
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SBI Amrit Kalash FD Scheme can be invested through branch, INB, YONO channels, and the SBI special FD scheme also includes premature withdrawal and loan against deposit options.
SBI FD interest rates
State Bank of India offers interest rates between 3% and 7% (except Amrit kalash) for general citizens for amounts below Rs 2 crore and for senior citizens, interest rates offered are between 3.50% and 7.50%.
TenorsRates for general citizensRates for senior citizens7 days to 45 days33.546 days to 179 days4.55180 days to 210 days5.255.75211 days to less than 1 year5.756.251 Year to less than 2 years6.87.32 years to less than 3 years77.53 years to less than 5 years6.575 years and up to 10 years6.57.50@ 400 days (Special Scheme i.e. “ Amrit Kalash”)7.17.6
Who is eligible to invest
Domestic Retail Term Deposits including NRI Rupee Term Deposits
ii) 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.”
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This story originally appeared on: India Times - Author:Faqs of Insurances
