SBI Amrit Kalash FD Scheme: Interest Rate, Last Date Of Investment And Other Things To Know

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SBI’s Amrit Kalash Deposit is a special fixed deposit scheme which has a tenure of 400 days.

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State Bank of India’s (SBI) special fixed deposit scheme known as the Amrit Kalash Deposit Scheme is going to conclude this month. For its regular customers and senior citizens, SBI Amrit Kalash is offering an interest rate of 7.1 per cent and 7.6 per cent, respectively. This special fixed deposit has a tenure of 400 days. SBI launched this FD scheme on April 12, 2023. The last date to invest in the scheme is August 15, 2023. Mentioning the scheme, SBI’s website notified: “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 a rate of interest of 7.60%.” This scheme includes premature withdrawal and loan facilities as well.

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If you are keen to invest in this special SBI scheme, you can go to an SBI branch and book the SBI Amrit Kalash FD. You can also book through Internet banking and the SBI YONO app. Interest on your fixed deposit can be availed at monthly, quarterly or half-yearly intervals. Interest deducted from TDS gets credited to the customer’s account. You can use Form 15G/15H to request tax deduction exemption in accordance with Income Tax (IT) Rules.

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Industrial Development Bank of India (IDBI) bank too has a fixed deposit scheme called the Amrit Mahotsav FD scheme. It has a 375-day and 444-day tenure scheme. This too is valid till August 15, 2023. In the 444-day tenure of the Amrit Mahotsav FD scheme, one can avail 7.15 per cent interest to general, NRE and NRO; and senior citizens will get 7.65 per cent. Regular, NRE and NRO customers who have invested in the 375-day tenure scheme, will get an interest rate of 7.10 per cent; for senior citizens, the interest rate is 7.60 per cent. For general citizens, IDBI Bank gives an interest rate between 3 to 6.80 per cent to amounts below Rs 2 crore; whereas for senior citizens, the interest rate is between 3.50 to 7.30 per cent.