SBI Amrit Kalash FD Scheme With Upto 7.60% Rate Of Interest: 10 Key Points

New Delhi: India’s largest lender State Bank of India (SBI) has reintroduced its Fixed Deposit (FD) Scheme for domestic and NRI customers. The SBI Amrit Kalash Deposit FD Scheme for domestic and NRI customers comes with 'attractive interest rates' and has a tenure of 400 days, said SBI.

“Bank has decided to reintroduce Retail Term Deposit ‘AMRIT KALASH’ scheme of 400 days tenor @7.10% p.a,” says SBI website.

The SBI Amrit Kalash Deposit is valid only for a limited period. Customers availing the FD can do so till 30 June 2023.

Here are 10 Important things to know about SBI Amrit Kalash Deposit FD Scheme

1. SBI Amrit Kalash Deposit will be Available From 12.04.2023 to 30.06.2023

2. Period of Deposit: 400 Days         

3. 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

4. Interest Rate: 7.10% for general public. Senior Citizens, Staff and Staff Pensioners are eligible for additional interest rate applicable to them.

5. 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

6. TDS: At applicable rate as per Income-tax Act

7. Premature: Withdrawal As applicable for Retail term deposit

8. Loan Facility: Available

9. Available through: Branch/INB/YONO Channels

10. No separate product codes are required for AMRIT KALASH Deposit

It may be recalled that in February SBI had previously introduced the Amrit Kalash Deposit for a limited period that expired on 31 March 2023. The Special FD scheme was announced with the same salient features.