SBI Amrit Kalash Deadline: If you are a free short-term investment option then SBI’s Amrit Kalash, a special FD scheme, can prove to be a better option for you. The Fixed deposit scheme is offering 7.6 percent interest on deposits of 400 days. This is a limited-period offer as investors have to make their investment before March 31, 2024.
Under the scheme, state banks are offering 7.10 percent interest for common citizens and 7.60 percent interest for senior citizens on their deposits for 400 days. The special FD scheme provides an option to take monthly, quarterly, or half-yearly interest payments to the depositors.
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Methods To Invest In SBI Amrit Kalash Scheme
Before March 31, 2024, the current deadline for the scheme, any person can invest in the Amrit Kalash Fixed Deposit scheme online or offline mode. Fixed Deposits can be made using SBI net banking or YONO App online. Amrit Kalash also provides bank loan facility to investors and investors get the facility of pre-mature withdrawal as well.
TDS is deducted on a fixed deposit
TDS applies to SBI’s Amrit Kalash Scheme as per the income tax rules. After deducting TDS, the interest money will be added to the customer’s account. If you withdraw money before maturity, then the bank may reduce the interest rate by 0.50 percent to 1 percent.
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Interest rates on other FDs of SBI (SBI FD Rates)
7 days to 45 days- 3.50%
46 days to 179 days- 4.75%
180 days to 210 days- 5.75%
Over 211 days to below 1 year – 6.00%
For 400 days FD- 7.10%
Over 1 year to below 2 years- 6.80%
Over 2 years to 3 years- 7.00%
Over 3 years to below 5 years- 6.75%
Over 5 years and up to 10 years – 6.50%
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Note: Senior citizens will get an additional 0.50 percent interest deposit for all the above tenures. That is, they are getting maximum interest up to 7.50 percent per annum on deposits of more than 2 years but less than 3 years.
