The State Bank of India (SBI) has extended the deadline for investing in the SBI Amrit Kalash fixed deposit plan yet again. SBI Amrit Kalash FD plan gives the greatest interest rate to senior citizens and general citizens across all tenures. Bank customers can now book term deposits with interest rates of more than 7% until December 31, 2023. SBI’s Amrit Kalash deposit, which was launched on February 15th, has received many repeated deadline extensions till date.
What Is SBI Amrit Kalash FD Scheme?
Customers should be aware that the SBI Amrit Kalash is a unique 400-day tenure plan that gives a 7.6% FD interest rate to senior people and a 7.1% interest rate to general citizens beginning on April 12, 2023.
Last Date To Apply For SBI Amrit Kalash FD Scheme
According to the notification on the SBI official website, the Amrit Kalash deposit scheme will be valid till December 31, 2023.
The SBI bank official website states- “The specific tenure 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%. The Scheme will be valid till 31 December 2023,”
Interest Rates Of SBI Amrit Kalash FD Scheme
- SBI gives elderly persons up to 7.5% interest and others up to 7% interest on deposits for various tenures.
- The bank offers a 5.75% interest rate to general customers and a 6.25% interest rate to senior citizens for 211 days to less than 1 year FD plan.
- The bank provides 6.8% interest for 1 year to less than 2 years FDs to general customers and 7.3% interest to senior citizens.
- The bank stated that it gives 7% interest to general customers and 7.5% interest to senior persons for 2 to less than 3 years FD.
- The bank provides 6.5% interest on 3 to 5-year fixed deposits to general customers and 7% interest to senior citizens.
- The bank currently provides 6.5% interest on 5-year and 10-year FDs to general customers and 7.5% interest to senior citizens.
- Deposits at SBI up to Rs 5 lakh (including interest) are, however, insured under the RBI’s DICGC guidelines.
In addition to the Amrit Kalash plan, the SBI bank also provides Sarvottam (Non-Callable) Domestic Retail Term Deposits for values ranging from Rs 15 lakhs to Rs 2 crores. According to the bank, SBI Sarvottam deposits give 30 basis points more interest than the rate card for one year and 40 basis points more interest than the rate card for two years.