SBI Reintroduces Amrit Kalash Fixed Deposit Scheme With Up To 7.6% Interest
The State Bank of India has extended its Amrit Kalash fixed deposit scheme, which will now be valid until June 30. This scheme offers a 7.1% interest rate to the general public and a 7.6% interest rate to senior citizens for a tenor of 400 days. Previously, the scheme was only valid from February 15 to March 31.
The offer is available for domestic retail term deposits of up to Rs 2 crore, including Non-Resident Indian Rupee Term Deposits, and covers both new and renewal deposits as well as special term deposits.
Interest on the Amrit Kalash scheme will be paid to customers at monthly, quarterly or semi-annual intervals. For special term deposits, interest will be paid on maturity.
The State Bank of India (SBI) will deposit the interest, net of TDS (Tax Deducted at Source), in the customer’s account at the end of the fixed deposit’s tenure. TDS will be deducted according to the Income Tax Act, and customers can also avail loan facilities and premature withdrawal options with this scheme. To apply for the Amrit Kalash scheme, customers can visit their local SBI branch, use net banking, or access the SBI YONO mobile app.
The State Bank of India offers a range of interest rates on term deposits of up to Rs 2 crore, with returns ranging from 3% to 7.1% for the general public, and 3.5% to 7.6% for senior citizens. The specific interest rates vary according to the maturity period of the fixed deposit. For deposits maturing between 7 and 45 days, the interest rate is 3%.
Deposits maturing between 46 days and 179 days offer a return of 4.5%, while deposits maturing in 180 to 210 days earn a 5.25% rate of return. The interest rate for deposits maturing in 211 days to less than one year is 5.75%, while one- to two-year deposits earn 6.8%. Deposits maturing in two to less than three years earn 7%, and deposits with a tenor of three to 10 years offer a 6.5% rate of return.
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