State Bank of India Amrit Kalash Fixed Deposit Scheme: State Bank of India (SBI) has re-introduced its Amrit Kalash Fixed Deposit Scheme for its customers from 12th April until June 30th. This scheme is open for all account holders, including new and existing customers. Under this scheme, customers can invest in fixed deposits for 400 days and enjoy an interest rate of 7.10 per cent for all citizens except senior citizens, who will get an interest rate of 7.60 per cent.
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Interest will be paid out in intervals of the first, third, and sixth months after the fixed deposit is made, and the facility of premature withdrawal is also available. Customers can also take loans against this fixed deposit, and TDS will be deducted from the interest earned as per the Income Tax Act.
The scheme is applicable to both Domestic Retail Term Deposits and NRI Rupee Term Deposits for amounts less than Rs.2 crore. The facility of term deposit and special term deposit is also available to account holders. The benefit of this scheme can be availed until June 30th, after which the scheme will be closed.
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This scheme is a great opportunity for those who are looking to invest their money for a fixed period while earning a higher interest rate than regular savings accounts. Existing account holders can also take advantage of this scheme by renewing their old deposits.
