SBI Amrit Kalash special FD with higher interest rates extended again: Check the new deadline
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SBI hikes FD interest rates by up to 50 bps; check latest fixed deposit rates hereState Bank of India (SBI) customers can enjoy the higher FD interest rate as the bank has yet again extended the last date of its 'Amrit Kalash' special fixed deposit scheme for retail customers.According to 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%. The Scheme will be valid till 31-March-2024.” The Scheme was earlier valid till 31-December-2023.”
What is the last date to invest in SBI Amrit Kalash
The Scheme will be valid till 31-March-2024.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.”
SBI FD interest rates
State Bank of India has increased fixed deposit interest rates on certain tenures. Now interest rates ranges between 3.5% and 7% (except Amrit kalash) for general citizens for amounts below Rs 2 crore and for senior citizens, interest rates offered are between 4% and 7.50%.
General PublicSenior Citizen TenorsExisting Rates for Public w.e.f. 15/02/2023Revised Rates for Public w.e.f. 27/12/2023Existing Rates for Senior Citizen w.e.f. 15/02/2023Revised Rates for Senior Citizen w.e.f. 27/12/20237 days to 45 days33.53.5446 days to 179 days4.54.7555.25180 days to 210 days5.255.755.756.25211 days to less than 1 year5.7566.256.51 Year to less than 2 years6.86.87.37.32 years to less than 3 years777.57.53 years to less than 5 years6.56.7577.255 years and up to 10 years6.56.57.57.50*
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.
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.
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This story originally appeared on: India Times - Author:Faqs of Insurances
