FINANCE

SBI Extends Deadline For 400-Day High-Interest FD Scheme – Details Inside

In today’s unpredictable world, preparing financially for the future is essential. For those seeking a reliable investment option, the State Bank of India’s ( SBI ) Amrit Kalash Yojana presents a compelling opportunity. This fixed deposit (FD) scheme offers an impressive interest rate for a 400-day term, allowing customers to earn over 7% returns. Here’s everything you need to know about this investment option.

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Attractive Interest Rates

The Amrit Kalash Yojana offers competitive interest rates:

  • Regular Customers: 7.1% interest on a 400-day FD.
  • Senior Citizens: An enhanced rate of 7.6%, providing added financial benefits.

Investment Period

  • Extended Deadline: This scheme is available for investment until March 31, 2024.

Interest Payout

  • Maturity Payment: Interest, after TDS deductions, is credited directly to your account upon maturity, ensuring seamless access to your returns.

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General Interest Rates for SBI FDs

For fixed deposits under ₹2 crore, SBI offers varied interest rates:

  • Regular Customers: Between 3% and 7%.
  • Senior Citizens: Rates range from 3.5% to 7.5%, ensuring higher returns for retirees.

Easy Investment Options

Investing in the Amrit Kalash Yojana is convenient and accessible both online and offline:

  • Online: Use SBI’s net banking platform or the SBI YONO app for hassle-free investments.
  • Offline: Visit any SBI branch to open your FD in person.

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Additional Flexibility

This scheme also offers flexibility with features such as:

Premature Withdrawal: Withdraw your deposit early if needed.

Loan Against Deposit: Borrow against your FD balance, providing an additional source of funds without breaking the investment.

For those seeking a safe, high-yield investment, SBI’s Amrit Kalash Yojana is a noteworthy choice, combining attractive returns with flexibility and security.

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