SBI Introduces ‘Amrit Kalash’ FD Scheme: Your Gateway to Smart Investments,
SBI Amrit Kalash FD Scheme
In a move to enhance its array of offerings, the State Bank of India (SBI) is set to launch a new retail term deposit scheme called ‘Amrit Kalash.’ This unique scheme, open for deposits from February 15, 2023, to December 31, 2023, presents an enticing opportunity with a specific tenure of 400 days.
Key Features of ‘Amrit Kalash’ Scheme:
1. Scheme Duration: The ‘Amrit Kalash’ scheme is open for deposits from February 15, 2023, to December 31, 2023.
2. Deposit Period: This scheme offers a specific tenure of 400 days.
3. Eligible Depositors: The scheme is applicable to domestic retail term deposits, including NRI Rupee term deposits (up to Rs 2 crore). Both new and renewal deposits fall under the eligibility criteria. Term deposits and special term deposits are included.
4. Interest Rate: The scheme boasts an attractive interest rate of 7.10%. Additionally, senior citizens, staff, and staff pensioners are entitled to an extra interest rate, providing them with a more lucrative return on their investments. this 400-day term deposit offers a rate of 7.1% for regular customers and 7.6% for senior citizens.
5. Interest Payment: For term deposits, interest can be received at monthly, quarterly, or half-yearly intervals. Special term deposits, on the other hand, offer interest on maturity. The credited interest, after the deduction of TDS, will be deposited directly into the customer’s account.
6. TDS (Tax Deducted at Source): TDS will be deducted at the applicable rate as per the Income-tax Act.
7. Premature Withdrawal: The rules for premature withdrawal are in accordance with retail term deposit regulations.
8. Loan Facility: The ‘Amrit Kalash’ scheme provides the option for customers to avail themselves of a loan facility.
9. Channels for Access: Customers can access the scheme through branches, internet banking (INB), and the YONO platform.
10. No Separate Product Codes: Notably, there is no requirement for separate product codes for the ‘Amrit Kalash’ deposit.
With ‘Amrit Kalash,’ the State Bank of India aims to provide more than just a scheme; it’s a doorway to smart investments. Your money not only earns you a high interest rate but also offers added benefits for specific groups. ‘Amrit Kalash’ underscores SBI’s commitment to delivering innovative and beneficial financial solutions tailored to your needs. Seize the opportunity and make your investments count with ‘Amrit Kalash’!
