SBI Extends Amrit Kalash Special FD Scheme Till 31st December: Details Inside

The country's largest lender State Bank of India (SBI) has extended the validity period of its special term deposit scheme "Amrit Kalash" till 31st December 2023 which was valid till 15th August 2023. The interest rate for this 400-day term deposit, according to the SBI website, is 7.1% for regular customers and 7.6% for elderly individuals.

"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 rate of interest of 7.60%. The Scheme will be valid till 31-December-2023," mentioned SBI on its website.

According to the SBI website, the eligible deposits for "Amrit Kalash" are Domestic Retail Term Deposits including NRI Rupee Term Deposits (less than Rs 2 crore), new and renewal Deposits and term deposit and special term deposit only.

The payment of interest shall be done on monthly/ quarterly/half yearly intervals for term deposits but only on maturity for special term deposits. On SBI Amrit Kalash FD, the guidelines of premature withdrawal, TDS and loan against deposit are applicable. SBI Amrit Kalash FD is open to book through branch/INB/YONO channels.

SBI FD Rates

The bank is giving a 3.00% interest rate on fixed deposits that mature within the next 7 to 45 days, and SBI is offering a 4.50% interest rate on deposits maturing in the next 46 to 179 days. With a deposit tenor of 180 days to 210 days, SBI is giving an interest rate of 5.25%, and with a tenor of 211 days to less than one year, 5.75%. Deposits that mature in 1 year to 2 years shall earn interest at a rate of 6.80%, while those that mature in 2 years to 3 years will earn interest at a rate of 7%. On FDs maturing in 3 years to 10 years, SBI is offering an interest rate of 6.50%.

In the current fiscal year, SBI aims to open 300 branches across the country, according to PTI. The lender now has 235 international branches and offices in addition to 22,405 branches around the nation.