Investors will receive higher returns under SBI's newly re-launched special FD scheme; find out more here

 Investors will receive higher returns under SBI's newly re-launched special FD scheme; find out more here

The Amrit Kalash Deposit Scheme has been re-launched by the bank, according to the SBI website, with a special tenure of 400 days. The period from 12 April 2023 to 30 June 2023 will be the closing date for investments in this FD programme.

In Delhi. State Bank of India (SBI), the biggest bank in the nation, has decided to restart the "Amrit Kalash Scheme." Senior citizens are eligible for interest rates of up to 7.60 percent under this programme. Let us remind you that the bank launched this unique FD programme on February 15, 2023, and that it ran through March 31, 2023. This spans 400 FD. Amrit Kalash Deposit also includes premature and loan facilities.  Tell us all there is to know about this plan.

The Amrit Kalash Deposit Scheme has been re-launched by the bank, according to the SBI website, with a special tenure of 400 days. The period from 12 April 2023 to 30 June 2023 will be the closing date for investments in this FD programme. The opportunity to invest in FDs is being extended to general and senior citizens. The interest rate has, however, been set separately for the two categories.

This FD is 400 days long.

The Amrit Kalash special fixed deposit scheme has a 400-day term, per the information on the SBI website. Individuals pay an interest rate of 7.10%, while senior citizens pay an interest rate of 7.60%.

This interest rate is higher than the bank's exclusive V-Care programme. The SBI We-care Fixed Deposit has a 5- to 10-year term. Individual interest rates in this are 6.50 percent, while senior interest rates are 7.50 percent.

Taxes and Interest

Interest on this plan will be paid at intervals of every month, every quarter, and every half-year. After deducting TDS, maturity interest on Special FDs will be added to the customer's account. Amrit Kalash Deposit also includes premature and loan facilities.

SBI's Senior Citizen FD Programme

With a September 2020 initial maturity date, the plan was first introduced in May 2020. This senior citizens' FD programme has been repeatedly extended since then. This special programme for senior citizens offers an interest rate of 7.50 percent for a term of 5 to 10 years.