State Bank of India (SBI) has extended the deadline for investing in its special fixed deposit (FD) scheme Amrit Kalash. You will now be able to invest in it till March 31, 2025. Earlier, its last date was September 30, 2024. In this scheme, senior citizens get 7.60% annual interest on FD and others get 7.60% annual interest .10%.
In this special term deposit system, you have to invest for 400 days. In such a situation, if you want more interest on FD, you can invest in this scheme. We tell you about it.
This is a special term deposit
Amrit Kalash is a Special Retail Term Deposit i.e. FD. Under this framework, elderly people benefit from an interest rate of 7.60% and ordinary citizens – 7.10%. In this you can earn a maximum FD of Rs 2 crore. Under the Amrit Kalash scheme, interest is paid to you every month, quarter and half-yearly. You can decide FD interest payment as per your convenience.
You can invest online or offline
To invest in this system, you can also invest by going to a bank branch. At the same time, investment can also be made through netbanking and SBI YONO app. Like normal FD, the facility of taking a loan is also available on Amrit Kalash.
You can also invest in Amrit Vrishti program
The State Bank of India (SBI) also runs another depository scheme named ‘Amrit Vrishti’. Under this scheme, 7.25% annual interest is given on FD for 444 days. While senior citizens benefit from an interest rate of 7.75% per annum. You can invest in this program until March 31, 2025.
Possibility of also investing in the SBI “WeCare” program
SBI also runs another special fixed deposit (FD) scheme, ‘Vcare’. In this SBI scheme, senior citizens will get additional interest of 50 basis points on deposits (FD) with tenure of 5 years or more. Senior citizens benefit from 0.50% higher interest than the general public on retail term deposits of less than 5 years.
In such a situation, under the ‘WeCare Deposit’ scheme, FDs of 5 years or above will receive 1% more interest than ordinary citizens. According to this, by doing FD for 5 years or more, senior citizens get 7.50% interest.