State Bank of India’s special fixed deposit dubbed as Amrit Kalash deposit will end this month. SBI Amrit Kalash is a 400-day term deposit offering a rate of 7.1% interest for regular customers and 7.6% for senior citizens
As per the SBI 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%.” This SBI special FD scheme also includes premature withdrawal and loan against deposit options.
Customers can book SBI Amrit Kalash FD through the SBI branch, internet banking, and the SBI YONO app.
What is the last date for Amrit Kalash deposit?
The last date to invest in SBI Amrit Kalash is August 15, 2023.
Payment of Interest
Payment of interest, at monthly, quarterly, half yearly intervals. On special term deposits- On maturity ii) Interest, net of TDS, shall be credited to customer’s account.
TDS
TDS is levied in accordance with Income Tax Rules. The depositor can use Form 15G/15H to request an exemption from tax deduction under IT Rules. SBI FD interest rates
State Bank of India offers interest rates between 3% and 7% for general citizens for amounts below Rs 2 crore and for senior citizens, interest rates offered are between 3.50% and 7.50%.
IDBI Bank Amrit Mahotsav FD
IDBI bank offers special FD dubbed as Amrit Mahotsav FD for 375 Days and 444 Days. The is valid up to August 15, 2023. Under the Amrit Mahotsav FD scheme of 444 Days, the bank offers interest rate of 7.15% to general, NRE and NRO. For senior citizens, the bank offers 7.65%.
The bank gives regular, NRE, and NRO customers an interest rate of 7.10% under the Amrit Mahotsav FD scheme of 375 days. The bank offers 7.60% interest rate for senior citizens under the scheme.
IDBI Bank FD interest rates
IDBI Bank offers interest rates between 3% and 6.80% for general citizens for amounts below Rs 2 crore and for senior citizens, interest rates offered are between 3.50% and 7.30%.