SBI’s special 400-day fixed deposit scheme, Amrit Kalash FD, has once again been extended, allowing customers to invest in this high-interest FD until March 31, 2025. Known for its attractive interest rates and safe returns, this scheme is especially popular among senior citizens and regular investors who prioritize security and steady growth for their savings.
The scheme was first launched on April 12, 2023, and has since garnered significant attention, leading the bank to extend its deadline multiple times. With the latest extension, investors can now benefit from this scheme for a longer period.
High Interest Rates: 7.10% for Regular Customers and 7.60% for Senior Citizens
One of the most appealing aspects of the Amrit Kalash FD scheme is its competitive interest rates. Regular customers can earn an interest rate of 7.10% on their investment, which is significantly higher compared to many other FD schemes. For senior citizens, SBI offers an additional 0.50% interest, making the rate a substantial 7.60%.
This higher rate is especially attractive for senior citizens, who often prefer secure investment options that offer regular income.
Why Has the Deadline Been Extended?
Due to its overwhelming popularity, SBI has continuously extended the deadline for the Amrit Kalash FD scheme. Initially, it was set to expire on June 23, 2023, but due to strong demand, the deadline was extended several times. The current extension gives customers time until March 31, 2025, to invest.
The bank’s decision to keep extending the scheme reflects the growing number of investors who prefer fixed deposits over other volatile investment options. The combination of guaranteed returns, security, and flexibility has made this scheme one of the most sought-after FDs in the market.
How Much Can You Earn?
To give you an idea of the potential returns, let’s look at an example.
If a regular investor deposits ₹1 lakh in the Amrit Kalash FD scheme, they will earn ₹7,100 annually in interest. For senior citizens, the interest amount rises to ₹7,600 for the same deposit amount.
For larger investments, such as ₹10 lakh, regular customers can earn ₹71,000 in interest annually, while senior citizens would get ₹76,000. This translates to a monthly income of ₹5,916 for regular investors and ₹6,333 for senior citizens.
Interest Payout Options
Investors in the Amrit Kalash FD scheme have the flexibility to choose how they receive their interest. SBI offers monthly, quarterly, and half-yearly interest payout options. Additionally, investors can opt for the entire interest amount at maturity.
It’s important to note that the interest earned will be subject to TDS (Tax Deducted at Source), which will be calculated based on the Income Tax Act. The deducted TDS will be directly deposited into the customer’s account.
Simple Investment Process
SBI has made investing in the Amrit Kalash FD scheme simple and convenient. You can invest through the SBI YONO app or by visiting your nearest SBI branch. The ease of online investment through the YONO app allows customers to invest at their convenience, making the process quick and hassle-free.
Ideal for Senior Citizens and Regular Investors Alike
The Amrit Kalash FD scheme stands out because of its safety, guaranteed returns, and attractive interest rates. It is an excellent option for senior citizens who want a stable income and secure investment. Additionally, regular investors who are looking for a reliable, high-return scheme can benefit from this FD.
This extension until March 2025 gives customers ample time to plan and invest, making it a golden opportunity to lock in high returns with a safe investment option.
