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Only 11 days are left from today to invest in Amrit Kalash, the special term deposit scheme of State Bank of India (SBI). The bank has specially designed and introduced it. There are many benefits of investing in this scheme. If you are also interested in this scheme then this can be a better investment opportunity for you. Along with excellent returns, you can also take a loan under this scheme if needed. Under this scheme, money has to be deposited for 400 days. Understand it this way, Amrit Kalash Deposit Scheme is a special tenure FD offered with a tenure of 400 days.
How much interest do you get?
The interest rate for common investors in SBI Amrit Kalash Deposit Scheme is 7.10 percent per annum. Senior citizens are being offered interest at the rate of 7.60 percent per annum. Here let us tell you that the interest rate on other FDs of similar tenure (1 year to less than 2 years) is 6.80% per annum. You can apply for this scheme through SBI branch, internet banking or YONO app. Investors can also get loans under this scheme of SBI. According to SBI website, if you withdraw the deposited money before maturity i.e. before 400 days, then you will have to pay a charge on it.
You can deposit up to a maximum of Rs 2 crore
Under this Amrit Kalash scheme of State Bank of India, you can invest a maximum of Rs 2 crore. Both domestic and NRIs can invest in this FD scheme. Amrit Kalash Scheme of State Bank of India was relaunched in April 2023. TDS is also applicable in this as per income tax rules.
How to apply online
- First of all log in to SBI Net Banking or YONO SBI App.
- Now go to Deposit & Investment section and select Fixed Deposit (e-TDR/e-STDR) option.
- Proceed to create FD by entering your desired deposit amount.
- Then set a period of 400 days and continue.
- The system itself will apply the interest rate according to age. If you are an employee of SBI then you will get one percent more interest.