SBI Reintroduces Amrit Kalash Fixed Deposit Scheme, Offers 7.1% Interest Rate | Details Here

SBI Amrit Kalash FD Scheme: In this special FD scheme, general customers would get 7.29 per cent interest rate and senior citizens would get 7.82 per cent.

SBI Amrit Kalash FD Scheme: The State Bank of India on Saturday reintroduced a retail term deposit called as ‘SBI Amrit Kalash’. It is a special scheme of 400 days tenor from the SBI. Previously, the bank had launched this retail term deposit scheme with a specific duration and it was valid from February 15, 2023, to March 31, 2023. This special term deposit offers a rate of 7.1 per cent for the general customer and a 50 basis point (bps) higher (7.6 per cent) for senior citizens.

“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,” the SBI said in a statement.

In this special FD scheme, general customers would get 7.29 per cent interest rate and senior citizens would get 7.82 per cent.

Notably, this fixed-term deposit was first introduced in FY22-23, from February 15, 2023 to March 31, 2023. Now, the bank said it reintroduced the scheme from April 12, 2023 to June 30, 2023.

The bank currently is offering a maximum 7 per cent rate of interest for fixed deposits of two years to less than three years, whereas the highest interest rates for senior citizens is 7.5 for the same tenure as well as for longer term under the ‘SBI Wecare’ fixed deposit scheme, which has a 5-10 year deposit period.

Those who want to deposit in the scheme can do so at SBI’s branches, through Netbanking, or through the SBI YONO mobile app. They can also avail loan against the ‘Amrit Kalash’ deposit scheme. A premature withdrawal facility is also available in this scheme for th ecustomers.

The SBI earlier this month had extended the date for its other fixed-term deposit named ‘SBI Wecare’. The SBI Wecare term deposit is for senior citizens and offers a deposit rate 100 bps higher than the interest offered to the general public.