New Delhi: India’s largest lender State Bank of India (SBI) has relaunched its fixed deposit (FD) scheme for domestic and NRI customers. SBI said that the SBI Amrit Kalash Deposit FD scheme for domestic and NRI customers comes with ‘attractive interest rates’ and has a tenure of 400 days.
“The bank has decided to reintroduce the retail fixed deposit ‘Amrit Kalash’ scheme at 7.10% per annum for a period of 400 days,” said SBI’s website.
SBI Amrit Kalash Deposit is valid for a limited period only. Customers availing FD can do so till June 30, 2023.
Here are 10 important things to know about SBI Amrit Kalash Deposit FD scheme
1. SBI Amrit Kalash Deposit will be available from 12.04.2023 to 30.06.2023
2. Period of Deposit: 400 days
3. Eligible Deposits: i) Domestic Retail Fixed Deposits (<2 Crore) including NRI Rupee Fixed Deposits ii) New and Renewal Deposits iii) Fixed Deposits and Special Fixed Deposits only
4. Interest Rate: 7.10% for general public. Senior citizens, employees and employee pensioners are eligible for the additional interest rate applicable to them.
5. Payment of Interest: i) Fixed Deposit – At Monthly/Quarterly/Half Yearly Intervals Special Fixed Deposit – On Maturity ii) Interest, net of TDS, will be credited to the customer’s account
6. TDS: At applicable rate as per Income Tax Act
7. Premature Withdrawal: Withdrawal applicable for Retail Term Deposit
8. Loan Facility: Available
9. Available through Branch/INB/YONO channels
10. No separate product code is required for depositing Amrit Kalash
It may be recalled that in February, SBI had introduced Amrit Kalash Deposit for a limited period which was to expire on March 31, 2023. The special FD scheme was announced with similar features.