SBI Special FD at 7.1% interest rate: SBI has re-introduced Amrit Kalash Special Deposit Scheme
Tate Bank of India has decided to re-introduce a retail term deposit called 'Amrit Kalash'. This is a 400 day tenor special scheme.
Earlier, the bank launched this retail term deposit scheme with fixed tenure and it is valid from February 15, 2023 to March 31, 2023.
As per SBI website, fixed term scheme of “400 days” (Amrit Kalash) with an interest rate of 7.10 % w.e.f. 12- April- 2023. Senior citizens are eligible for 7.60% interest rate. This scheme is valid till 30-Jun-2023.
SBI Amrit Kalash Deposit Interest Rate
The interest rate on this term is 7.10% for general persons and 7.60% for senior citizens. The deposit validity is of 400 days.
SBI Amrit Kalash
The reintroduced scheme will be valid from April 12, 2023 to June 30, 2023.
Which deposits are eligible for Amrit Kalash?
Domestic retail term deposits including Rs. NRI Term Deposits below 2 Crore Rs. Applicable to new deposits, renewal deposits, term deposits only.
How is interest paid?
Interest is paid on term deposits at monthly, quarterly and half-yearly intervals.
It should be noted that TDS is levied at the rate applicable under the Income Tax Act. The new Amrit Kalash deposit will also have premature and loan facility.
SBI FD Interest Rates
State Bank of India offers interest rate between 3% to 7% for tenure between 7 days to 10 years to common citizens. For senior citizens, interest rate ranging from 3.5% to 7.50% inclusive of additional premium of 50 bps is offered under “SBI We-Care” deposit scheme.
SBI Best (Non-Callable) Domestic Retail Term Deposits
SBI 'Sarvotham' (Non-Callable) Term Deposits for Resident Individuals and Non-Resident Individuals up to Rs. A special scheme for deposits above 15 lakhs. According to the SBI website, this deposit plan offers high interest rate with no provision for early withdrawal.
AMRIT KALASH
Benefits and Features of SBI Amrit Kalash Scheme 2023
1. You can get strong returns by investing money in SBI Amrit Kalash scheme for 400 days.
2. Ordinary citizens will get the benefit of 7.10 percent interest rate under this scheme.
3.Senior citizens will get 7.60 percent interest on investing in SBI Amit Kalash Scheme.
4. Bank's employees and pensioners will get the benefit of 1 percent higher interest rate under this scheme.
5. SBI Amrit Kalash scheme is very beneficial for those people who want to invest their money for 1 or 2 years.
6. If a citizen invests Rs 1 lakh in the FD scheme, then senior citizens will get the benefit of Rs 8600 as interest.
7. On the other hand, general customers will get the benefit of the amount at an interest rate of Rs.8017.
8. This scheme will provide higher returns in less time to general citizens, senior citizens and bank employees and pensioners.
9. SBI Amrit Kalash Scheme 2023 has been made available to investors on 15 February 2023.
10. Money can be deposited under this scheme till 31 March 2023.
Documents required for SBI Amrit Kalash Scheme
1. Aadhar card
2. identity card
3. age certificate
4. income certificate
5. mobile number
6. passport size photo
7. email id
How to apply for SBI Amrit Kalash
1. First of all you have to go to your nearest SBI bank.
2. By going there you will have to get the application form for opening an account under SBI Amrit Kalash Scheme.
3. After getting the application form you have to enter the required information asked.
4. After entering all the information, you will have to attach the necessary documents asked in the application form.
5. After this you have to submit the application form back to the bank.
6. After this you have to deposit some money to open the account.
Thus you can apply under SBI Amrit Kalash Yojana.
Features :
1. Scheme ‘AMRIT KALASH’
2. Available From 15.02.2023 to 31.03.2023
3. Period of Deposit 400 Days
4. Eligible Deposits
i) Domestic Retail Term Deposits including NRI Rupee Term Deposits (< Rs 2 crore)
ii) New and Renewal Deposits
iii) Term Deposit and Special Term Deposit only
5. Interest Rate 7.10% Senior Citizens, Staff and Staff Pensioners are eligible for additional interest rate applicable to them.
6. Payment of Interest
i) Term Deposits – At monthly/ quarterly/half yearly intervals Special Term Deposits- On maturity
ii) Interest, net of TDS, shall be credited to Customer’s Account
7. TDS At applicable rate as per Income-tax Act
8. Premature Withdrawal As applicable for Retail term deposit.
9. Loan Facility Available
10. Available through Branch/INB/YONO Channels
11. Others No separate product codes are required for AMRIT KALASH Deposit
