Friday, March 1, 2024
HomeFinanceSBI Amrit Kalash Scheme: Full details you need to know

SBI Amrit Kalash Scheme: Full details you need to know

SBI Amrit Kalash Scheme: The State Bank of India (SBI) has extended the deadline for investing in the SBI Amrit Kalash fixed deposit scheme. The Amrit Kalash deposit plan will be in effect through December 31, 2023, according to the SBI website. “The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10% starting 12-April-2023. Senior citizens entitled to a 7.60% interest rate. The Scheme will be active through December 31, 2023, according to the SBI website.

Also Read: REIT Investing: A Complete Guidance on real estate investment trust

The interest rates offered by SBI Amrit Kalash are 7.1 percent for regular clients and 7.6 percent for elderly individuals. The unusual fixed deposit plan’s 400-day duration. SBI launched the Amrit Kalash FD scheme on April 12, 2023.

The initial deadline of August 15, 2023 this has , has been rescheduled to December 31, 2023. The following information about the plan posted on 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 entitled to a 7.60% interest rate. This plan also cover the various options and premature withdrawal

Also Read: TVS Supply Chain Solutions IPO: All you need to Know

SBI Amrit Kalash FD: Payment of Interest

  • Term Deposits – At monthly/ quarterly/halfyearly intervals Special Term Deposits- On maturity
  • Interest, net of TDS, shall be credited to Customer’s Account

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 fixed deposit latest interest rates

State Bank of India offers interest rates between 3% and 7% (except Amrit kalash) for general citizens for amounts below Rs 2 crore and for senior citizens, interest rates offered are between 3.50% and 7.50%.

  • 7 days to 45 days – 3%
  • 46 days to 179 days – 4.5%
  • 180 days to 210 days – 5.25%
  • 211 days to 1 year – 5.75%
  • 1 year to 2 years – 6.8%
  • 2 years to 3 years – 7.00%
  • 3 years to 5 years – 6.5%
  • 5 years and up to 10 years – 6.5%
  • 400 days (Special Scheme) 7.10

Also Read: FPIs have invested Rs 3,200 Cr in Indian equities

SBI Amrit Kalash FD Scheme: How to apply 

  • 1) Apply for the special FD scheme by visiting their branch.
  • 2) SBI Amrit Kalash FD Scheme can be applied online through the official SBI website or the Yono SBI app.
  • 3) Login and click on the FD section under the ‘In Deposit & Investment’ section.
  • 4) Enter your required details on the investment amount.
  • 5) Enter the tenure of your special FD scheme. It’s a maximum 400 days scheme.
  • 6) Check the rate of interest being offered to you as per your eligibility.
Also Read: High growth in Indian services sector

Disclaimer: The article or blog or post (by whatever name) in this website is based on the writer’s personal views and interpretation of Act. The writer does not accept any liabilities for any loss or damage of any kind arising out of information and for any actions taken in reliance thereon.Also, www.finnbuzz.com and its members do not accept any liability, obligation or responsibility for author’s article and understanding of user.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Top News

Recent News