SBI Amrit Kalash is a special tenor FD scheme of 400 days which scheme offers 7.6% FD interest rate to senior citizens and 7.1% interest to general citizens.
New Delhi: The State Bank of India (SBI) has one more time extended the last date for investing in SBI Amrit Kalash fixed deposit scheme. The bank in the FD plan offers the highest interest rate to senior and general citizens across all tenors. Now, bank customers can book term deposits offering more than 7% interest rate till December 31, 2023. Launched on 15 February, SBI’s Amrit Kalash deposit has been granted multiple deadline extensions.
What is SBI Amrit Kalash FD Scheme?
Bank customers must note that the SBI Amrit Kalash is a special tenor scheme of 400 days which scheme offers 7.6% FD interest rate to senior citizens and 7.1% interest to general citizens since 12 April 2023.
Last Date To Apply For SBI Amrit Kalash FD Scheme
According to the information provided on the SBI website, the Amrit Kalash deposit scheme will be valid till December 31, 2023.
“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 31-December-2023,” SBI website says.
Read More: Fixed Deposit or Liquid Fund: Where will I get the maximum benefit?
SBI Amrit Kalash FD Scheme: Check Interest Rates
Notably, SBI offers up to 7.5% interest rate to senior citizens and up to 7% interest to others on deposits of various tenors.
For 211 days to less than 1 year FD scheme, the bank offers 5.75% interest rate to general citizens and 6.25% interest to senior citizens.
Fr 1 Year to less than 2 years FD, the bank offers 6.8% to general citizens and 7.3% interest to senior citizens.
For 2 years to less than 3 years FD, the bank said it offers 7% to general citizens and 7.5% interest to senior citizens.
For 3 years to less than 5 years FD, the bank offers 6.5% to general citizens and 7% interest to senior citizens.
For 5 years and up to 10 years FD, the bank now offers 6.5% to general citizens and 7.5% interest to senior citizens.
Read More: Axis Bank, Canara Bank Revise Interest Rates On Fixed Deposits: Check Latest Rates Here
However, deposits up to Rs 5 lakh (including interest) in SBI are guaranteed under RBI’s DICGC rules.
Apart from the Amrit Kalas scheme, the SBI also offers Sarvottam (Non-Callable) Domestic Retail Term Deposits for amounts above Rs 15 lakhs to less than Rs 2 crores. The bank said the SBI Sarvottam deposits offer 30 bps extra interest over the rate card for 1 year tenior and 40 bps over the rate card for 2 year tenor.
