In an era where financial stability and growth are paramount, choosing the right investment vehicle becomes crucial. The SBI Amrit Kalash FD Scheme emerges as a beacon of financial security, allowing individuals to achieve their financial goals with a fixed return and at low risk.
SBI Amrit Kalash FD – Last Date
The country’s largest public sector bank – State Bank of India, has extended the validity of the unique FD scheme – SBI Amrit Kalash, till December 31st, 2023.
The scheme was launched on 15th Feb 2023, and earlier, the scheme was valid till March 31st, 2023. Later this FD scheme was re-introduced for another three months till June 2023.
SBI Amrit Kalash FD Scheme
The SBI Amrit Kalash FD Scheme is a unique offering by the State Bank of India that combines the security of a fixed deposit with attractive interest rates. This unique FD scheme is for 400 days and offers an interest rate of 7.6 per cent to senior citizens and 7.1 per cent to the general public.
Amrit Kalash FD Details
|Last Date||31st December 2023|
|Interest Rate||Senior Citizen – 7.60%|
General Public – 7.10%
|TDS Deduction||As applicable per Income Tax Act|
|Availability||Any branchNet BankingSBI YONO app|
Features of the SBI Amrit Kalash FD Scheme
This innovative scheme comes with a host of features that set it apart:
- Flexible tenure options to suit individual preferences.
- Option for monthly or quarterly interest payouts.
- Tax benefits under Section 80C of the Income Tax Act.
- Loan facility against the FD amount.
- Nomination facility to ensure seamless transfer of benefits.
Benefits of the SBI Amrit Kalash FD Scheme
1. Tax Benefits
Investors can enjoy tax benefits under Section 80C of the Income Tax Act, making this scheme a tax-efficient investment avenue.
2. Attractive Interest Rates
The scheme offers competitive interest rates that ensure your savings grow steadily over the tenure.
3. Flexibility and Tenure Options
Choose from a range of tenure options based on your financial goals, providing the flexibility to align your investments with your needs.
4. Loan against FD
In times of financial need, you can avail of a loan against your FD, ensuring liquidity without breaking your investment.
5. Nomination Facility
The nomination facility ensures that the benefits of the FD are seamlessly transferred to the nominee in case of unforeseen events.
SBI FD Interest Rate
|Tenure||General Citizen||Senior Citizen|
|400 Days (Amrit Kalash)*||7.10%||7.60%|
|7 days to 45 days||3.00%||3.50%|
|46 days to 179 days||4.5%||5.00%|
|180 days to 210 days||5.25%||5.75%|
|211 days to 1 Year||5.75%||6.25%|
|1 Year to less than 2 Years||6.80%||7.30%|
|2 Years to less than 3 Years||7.00%||7.50%|
|3 Years to less than 5 Years||6.50%||7.00%|
|5 Years to 10 Years||6.50%||7.50%|
Who is Eligible to Invest?
The Amrit Kalash FD Scheme is open to:
- Resident individuals
- Hindu Undivided Families (HUFs)
- Minors (with a guardian)
How to Invest in SBI Amrit Kalash FD?
Applying for the Amrit Kalash FD Scheme is a straightforward process. You can apply for this scheme in three ways:
- You can visit any SBI local branch nearby
- Apply online through the bank’s official website (net banking)
- You can also use the SBI YONO app
Ensure you have the necessary documents and funds to initiate the investment.
The SBI Amrit Kalash FD Scheme, emerges as a steadfast companion. With its unique blend of security, attractive returns, and tax benefits, this scheme opens the doors to a brighter financial future. Make a prudent choice today and embark on a journey of financial prosperity.