Mumbai: SBI (State Bank of India) has extended the validity of the Amrit Kalash Special Fixed Deposit Scheme (FD). This scheme offers higher interest rates for retail customers and senior citizens. State Bank of India (SBI) has extended the validity of Amrit Kalash Special Fixed Deposit Scheme. In this special fixed deposit scheme of SBI, retail customers and senior citizens get higher interest rates. Now deposits can be made in SBI’s Amrit Kalash Scheme till 30 September 2024.
According to the SBI website, the investment period in this scheme is at least 400 days in which the benefit of interest rate of 7.10 percent is available. Whereas senior citizens get 7.60 percent interest rate return on deposits. If the money deposited in this policy is withdrawn before 400 days, then the interest rate may be reduced by 0.50% to 1%. In this scheme, the depositor is qgiven the facility to credit the interest account monthly, three months, six months, annually and till the completion of the policy term. On completion of the policy term, the interest is deposited in the customer’s account after deducting TDS.
At present, SBI is giving returns of 3.5% to 7% (except Amrit Kalash Scheme) to general customers on fixed deposits of less than Rs 2 crore. Whereas for senior citizens the interest rate on FD is between 4% to 7.50%.State Bank of India ‘Amrit Kalash’ scheme is a 400 day FD which gives interest at the rate of 7.6 percent. According to SBI, common citizens investing in the bank’s Amrit Kalash Special FD Scheme are getting 7.10% interest. The bank is giving 7.60% interest to senior citizens. The deadline to invest in this scheme is 30 September 2024. If you are planning for fixed deposits, then you can also look at this new scheme of State Bank of India named SBI Amrit Kalash Yojana 2024.
To open an account under the scheme from SBI Amrit Kalash, applicants must be citizens of India only. To open a bank account under this scheme, the age must be more than 19 years.The scheme from Amrit Kalash is very beneficial for those who want to invest their money for one or two years.
In this scheme, you will be able to get the benefit of higher returns in less time. Aadhaar card, income certificate, residencial proof, mobile number, email ID and photograph of the applicant are required as necessary documents. There is also a provision of online application for this.
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