Last Update: February 23, 2023, 17:51 IST
Consumers have time till March 31, 2023 to take advantage of FD.
Consumers can avail the FD scheme till March 31.
State Bank of India (SBI) has launched a new Fixed Deposit (FD) program for local and NRI customers. According to SBI, the 400-day SBI Amrit Kalash Deposit FD program offers great interest rates for domestic and NRI customers. Senior people will get 7.60% interest on their FD under SBI Amrit Kalash Deposit FD scheme. SBI Amrit Kalash Deposit, however, is good only for a short period of time. Consumers have time till March 31, 2023 to take advantage of FD.
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State Bank of India informed its customers about this by tweeting. “Launching “Amrit Kalash Deposit” for domestic and NRI customers with attractive interest rates, 400 days tenure, and much more.”
Following the Central Bank of India’s increase in the repo rate, the State Bank of India (SBI) has announced that it will increase its key lending rate by 10 basis points (bps) across all tenors (RBI). According to SBI’s website, the revised rates are applicable from February 15. For FDs of less than three years or between two and three years, the bank is currently offering interest rates of 6.75% to 7% and 6.25% to 6.5%. , respectively.
Other SBI Fixed Deposit Schemes:
With effect from February 15, 2023, SBI increased interest rates on fixed deposits or term deposits of less than Rs 2 crore by 5 basis points to 25 basis points. Senior citizens will get interest rates up to 25 basis points higher than the interest rates available to other investors. With the increase, the bank is now offering interest rates ranging from 3% to 7% for regulars and 3.5% to 7.5% for senior citizens.
A week after the Central Bank of India (RBI) increased its repo rate by 25 basis points to 6.50 per cent, the FD rates were revised. Since May 2022, the repo rate has increased six times in a row. Along with this, SBI is also offering SBI WeCare Deposit Scheme for senior citizens in the Retail TD segment.
Under this programme, senior citizens will be paid on their retail TDs for tenure of “5 years and above” only if they receive an additional premium of 50 bps over and above the existing 50 bps. Till March 31, 2023, the SBI WeCare Deposit scheme is also valid.
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