SBI has started a new scheme of fixed deposit. Its name is Amrit Kalash Special FD. In this the bank is offering higher interest than regular FD. The deadline for investment in this scheme has been extended several times. At present the new deadline for the scheme is 31st March.
New Delhi: State Bank of India (SBI) has started a special scheme. Its name is SBI Amrit Kalash Special FD Scheme. The last date for investment has been extended several times. At present, the current deadline to invest money in it is March 31, 2024. Under this scheme, the bank is offering higher interest than regular FD. Senior citizens will get the benefit of additional interest in this. Come, let us know everything about this scheme here.
How much interest, what is the tenure?
Amrit Kalash FD scheme offers 7.10% interest for a tenure of 400 days. This rate of interest is higher than the regular FD of SBI. Senior citizens get interest at the rate of 7.60 percent per annum.
What conditions will be applicable on premature withdrawal?
In case of premature withdrawal, the interest rate will be reduced by 0.50 per cent to 1 per cent from the rate applicable at the time of deposit. Interest on Amrit Kalash Special FD is paid at monthly, quarterly or half-yearly intervals. It will be credited to the customer’s account.
What are the interest rates on SBI’s regular FD?
State Bank of India offers interest ranging between 3.50 per cent to 7 per cent (except Amrit Kalash) for tenures ranging from 7 days to 10 years for general citizens. For senior citizens, the interest rate ranges from 4% to 7.50% (including SBI WeCare) for tenures ranging from 7 days to 10 years.
Other products of SBI
SBI Green Deposit
Apart from Amrit Kalash FD, SBI also offers other deposit products. These include SBI Green Deposit. In this, investors get the option to choose flexible tenures of 1111 days, 1777 days and 2222 days. This scheme is available through branch network. It will soon be made available through other digital channels like YONO and Internet Banking services (INB).
SBI Best
This deposit scheme offers higher interest rates than regular FD. It has a rate of 7.4% for a two-year tenure and 7.10% for a one-year tenure. Senior citizens get additional half percent interest on these rates.
SBI We Care
SBI V Care Special FD is designed for senior citizens. It was started in 2020. Under this, 0.5 percent additional interest is paid on the regular card rate.
