look news india
Everyone wants to save some part of their earnings and invest it in a place where their money is safe and they also get strong returns. In the last few years, fixed deposit i.e. FD schemes have become very popular among the people in terms of safe investment and excellent returns, because many banks have increased the interest rates to give more benefits to their customers. If yes, then new FD schemes have also been launched. One such FD scheme is State Bank of India's Amrit Kalash Scheme (SBI Amrit Kalash FD), which is offering excellent interest to its investors. In this one has to invest only for 400 days.
You can invest till September 2023
SBI Amrit Kalash FD Scheme was launched by State Bank on 12th April 2023 and considering the popularity of this particular scheme, the bank has extended its deadline several times. Now it has been extended once again to 30 September 2024, that is, investors can benefit by investing money in this fixed deposit scheme for six more months. The popularity of this FD scheme can be easily gauged from the fact that the bank has extended its deadline for the fourth consecutive time.
Money has to be invested for 400 days
After its launch on 12 April 2023, the first deadline of this Amrit Kalash FD was extended from 23 June 2023 to 15 August 2023 and then at the last moment it was extended again to 31 December 2023. Before the beginning of the new year, its deadline was once again extended to March 31, 2024 and according to the SBI website, now time has been given till September 30, 2024 for investment. This is a special FD scheme of SBI, in which investment has to be made for 400 days.
Of great interest to senior citizens
The bank is offering tremendous interest on investment in SBI Amrit Kalash Yojana. While general customers get interest at the rate of 7.1 percent, the bank is giving interest at the rate of 7.6 percent to senior citizens. On this scheme, maturity interest and TDS are deducted and deposited in the customer's account. TDS will be levied at the rate applicable under the Income Tax Act. Investors can invest up to Rs 2 crore in Amrit Kalash FD.
Apart from this, there is also a provision for premature withdrawal of money in this scheme of State Bank. That means you can withdraw your deposited amount on maturity. According to the bank, no separate product code is required for investing in Amrit Kalash FD. In this you can use Yono banking app.
In this way you can easily open an account
Under Amrit Kalash FD Scheme, account holders can get their interest on monthly, quarterly, half yearly and yearly basis. The interest deducted from TDS is credited to the customer's account. You can use Form 15G/15H to request tax deduction exemption as per Income Tax (IT) rules.
Under the scheme, citizens aged 19 years or above can open their account. To open an account, you will need Aadhar Card, Identity Proof, Age Proof, Income Proof, Valid Mobile Number, Passport Size Photo and E-mail. ID is required. To apply offline you will have to visit SBI branch.