State Bank of India (SBI), India’s largest lender by assets, has announced the re-introduction of its retail term deposit scheme, Amrit Kalash. The scheme offers a special tenor of 400 days and provides an interest rate of 7.6% for senior citizens and 7.1% for others. This deposit scheme had previously been launched by SBI on February 15, 2023, and was valid till March 31, 2023. The reintroduction of this scheme provides customers with another opportunity to avail themselves of the attractive interest rates offered by SBI.
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More About The ‘Amrit Kalash’ retail term deposit scheme:
The bank has reintroduced a scheme starting from April 12, 2023, which will remain valid until June 30, 2023. This scheme is applicable to domestic retail term deposits, including NRI Rupee Term Deposits, that are below Rs 2 crore.
As per the information available on the SBI website, the scheme offers a specific tenor of “400 days” (Amrit Kalash) with an interest rate of 7.10% effective from April 12, 2023. Senior citizens are eligible for a higher interest rate of 7.60%.
Interest rate and tenor:
SBI has introduced a special fixed deposit scheme that has a tenor of 400 days, starting from April 12, 2023, and valid until June 30, 2023.
Under this scheme, general investors can avail an interest rate of 7.10%, while senior citizens are eligible for a higher interest rate of 7.60%.
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