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SBI Relaunched Amrit Kalash Special FD Scheme, Now Offers 7.60% Interest To Senior Citizens
India's largest bank State Bank of India (SBI) has relaunched the "Amrit Kalash" Fixed Deposit (FD) scheme. The Amrit Kalash FD scheme is a special tenure FD scheme of 400 days.
According to SBI official website, "The specific tenor scheme of "400 days" (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 30-June-2023."
SBI Amrit Kalash Deposit interest rate
This term deposit's interest rate is 7.10% for regular customers and 7.60% for senior citizens. The fixed deposit is valid for 400 days. The reintroduced scheme is valid from April 12, 2023, to June 30, 2023, according to the bank's official website.
| Tenors | General FD Rates | Annualised Yield# | Senior Citizens FD Rates | Annualised Yield# |
|---|---|---|---|---|
| 400 days (Special Scheme i.e. " Amrit Kalash") | 7.1 | 7.29 | 7.6 | 7.82 |
On May 17, 2023, the SBI tweeted, "Relaunching "Amrit Kalash Deposit" for domestic and NRI customers with extended validity, attractive interest rates, 400 days tenure and much more."
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SBI FD interest rates
The interest rate offered by SBI to regular people ranges from 3% to 7% for a tenure of between 7 days and 10 years, while the interest rate offered to senior citizens is between 3.5% and 7.50% with an additional premium of 50 bps under the "SBI We-care" deposit programme. The interest rates are Compounded on a Quarterly basis.
Interest Rates on Retail Domestic Term Deposits (Below Rs. 2 crore) w.e.f. 15.02.2023
| Tenors | General FD Rates | Annualised Yield# | Senior Citizens FD Rates | Annualised Yield# |
|---|---|---|---|---|
| 7 days to 45 days | 3 | 3 | 3.5 | 3.5 |
| 46 days to 179 days | 4.5 | 4.5 | 5 | 5 |
| 180 days to 210 days | 5.25 | 5.35 | 5.75 | 5.88 |
| 211 days to less than 1 year | 5.75 | 5.88 | 6.25 | 6.4 |
| 1 Year to less than 2 years | 6.8 | 6.98 | 7.3 | 7.5 |
| 2 years to less than 3 years | 7 | 7.19 | 7.5 | 7.71 |
| 3 years to less than 5 years | 6.5 | 6.66 | 7 | 7.19 |
| 5 years and up to 10 years | 6.5 | 6.66 | 7.50@ | 7.71 |
Please Note - @ Including additional premium of 50 bps under "SBI We-care" deposit scheme.
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