The State Bank of India (SBI) has been extending the deadline for its ‘Amrit Kalash’ special fixed deposit scheme, providing an attractive investment avenue for retail customers. The scheme offers a higher interest rate compared to regular fixed deposit rates, catering to the financial needs of investors looking for stable returns within a specific tenure.
What is the new last date to invest in SBI Amrit Kalash?
SBI recently extended the last date to invest in its ‘Amrit Kalash’ special fixed deposit scheme. As per the latest update, investors now have an opportunity to invest in this scheme until December 31, 2023. The ‘Amrit Kalash’ scheme presents an enticing interest rate of 7.1% for regular customers and 7.6% for senior citizens for a term of 400 days.
SBI Amrit Kalash FD Interest Rates:
The ‘Amrit Kalash’ scheme stands out with its competitive interest rates compared to SBI’s regular fixed deposit offerings. For a 400-day tenure, the scheme offers 7.1% interest for regular customers and a higher rate of 7.6% for senior citizens, providing an excellent opportunity for investors seeking a more lucrative option within a specific timeframe.
Who is eligible to invest in SBI Amrit Kalash?
This scheme is available to domestic retail term depositors, including NRI Rupee Term Deposits, and is applicable for new and renewal deposits, along with Term Deposit and Special Term Deposit accounts.
Investors in the SBI Amrit Kalash scheme have the provision for premature withdrawal. However, it’s important to note that in case of early withdrawal, the interest provided will be slightly lower than the contracted rate. The reduction will either be 0.50% to 1% below the applicable rate or 0.50% or 1% below the contracted rate, depending on which is lower, for the period the deposit has remained with the bank.
In conclusion, the SBI Amrit Kalash scheme offers an extended opportunity until December 31, 2023, for investors to benefit from its higher interest rates, catering to the financial needs of retail customers and senior citizens within a 400-day timeframe. This scheme presents an attractive option for individuals seeking stable returns on their investments.