The country’s largest lender State Bank of India (SBI) has increased the validity of the Amrit Kalash Special Fixed Deposit (FD) scheme. The bank had earlier introduced this retail term deposit programme, and it was valid from February 15, 2023, to March 31, 2023. But on April 12, 2023, SBI said that its Amrit Kalash FD retail term deposit program has been extended till June 30. 2023.
“400 days “(Amrit Kalash) specific tenure scheme at an interest rate of 7.10% from 12-April-2023. Senior citizens are eligible for an interest rate of 7.60%. The scheme will be valid till 30-June-2023,” SBI has mentioned on its website.
SBI Amrit Kalash FD scheme comes with a special tenor of 400 days, on which 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. , employees and employee pensioners are eligible for the additional rate of interest applicable to them.
Domestic Retail Fixed Deposits including NRI Rupee Fixed Deposits of less than Rs. 2 crore, fresh and renewal deposits and fixed deposits and special fixed deposits are the only deposits eligible for SBI Amrit Kalash FD scheme.
SBI Amrit Kalash FD plan is available through Branch / INB / YONO channels and SBI’s special FD plan also comes with premature withdrawal and loan against deposit facilities.
SBI says interest will be paid at monthly/quarterly/half-yearly intervals for fixed deposits and at maturity for special fixed deposits.
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