State Bank of India has decided to relaunch Amrit Kalash, the discontinued retail fixed deposit scheme as ‘Amrit Kalash’. Investors have been offered a higher rate of interest in this deposit scheme with an investment period of 400 days.
Earlier the bank had launched this FD scheme for a fixed period and it was valid from 15 February 2023 to 31 March 2023. Premature and loan facilities are also included in Amrit Kalash Deposit.
According to the SBI website, the bank has re-launched the Amrit Kalash Deposit Scheme with a special tenure of 400 days. The deadline for investment in this FD scheme will be from 12 April 2023 to 30-June-2023. General and senior citizens are being given the opportunity to invest on FD investment. However, the interest rate has been fixed separately for both the categories.
SBI Amrit Kalash Interest Rate
Investors can invest less than 2 crores in the SBI Amrit Kalash Deposit Scheme with a tenure of 400 days. According to SBI, 7.10 percent interest rate will be given to ordinary citizens investing in Amrit Kalash Deposit Scheme, while 7.60 percent interest rate will be given to senior citizens.
How interest will be paid to the investors
Interest is paid to the investors of SBI Amrit Kalash at monthly, quarterly and half-yearly intervals. On maturity of SBI Amrit Kalash, the interest amount after deducting TDS will be added to the customer’s account. Premature and loan facilities are also included in Amrit Kalash Deposit.
SBI FD Interest Rates
State Bank of India offers regular citizens an interest rate of 3% to 7% on FD investments for tenures ranging from 7 days to 10 years. The interest rate offered under the “SBI V-Care” deposit scheme for senior citizens ranges from 3.5% to 7.50% including an additional premium of 0.50%.
