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Fixed Deposits: SBI extends Amrit Kalash special scheme with interest rates as high as 7.6%; All you need to know

1 min read . Updated: 17 Apr 2023, 08:15 AM IST Vipul Das

But on April 12, 2023, SBI stated that its Amrit Kalash FD retail term deposit programme has been extended till 30th June 2023.

The country's largest lender State Bank of India (SBI) has extended the validity of Amrit Kalash special fixed deposit (FD) scheme.

The country's largest lender State Bank of India (SBI) has extended the validity of Amrit Kalash special fixed deposit (FD) scheme. The bank previously introduced this retail term deposit programme, and it was valid from February 15, 2023, through March 31, 2023. But on April 12, 2023, SBI stated that its Amrit Kalash FD retail term deposit programme has been extended till 30th June 2023.

“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 30-June-2023," mentioned SBI on its website.

SBI Amrit Kalash FD Scheme comes with a special tenor of 400 days on which the general public will get an interest rate of 7.10% and senior citizens will get an interest rate of 7.60% which is 50 bps higher than the standard applicable rate and senior citizens, staff and staff pensioners are eligible for additional interest rate applicable to them.

Domestic retail term deposits including NRI Rupee Term Deposits of less than ₹2 crore, new and renewal deposits and term deposit and special term deposit only are the eligible deposits for SBI Amrit Kalash FD Scheme.

SBI Amrit Kalash FD Scheme is available through branch/INB/YONO channels and the special FD scheme of SBI also comes with premature withdrawal and loan against deposit facilities.

SBI says the payment of interest will be done at monthly/ quarterly/half yearly intervals for term deposits and on maturity for special term deposits.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).