Don’t worry too much about SBI’s special deposit scheme for 400 days. To celebrate the New Year, the bank has extended the deadline for the Amrit Kalash Scheme.
Now, you can invest in this scheme even on New Year’s Day.
The previous deadline was December 31, 2023, but it has been extended again to March 31, 2024.
Wondering about the interest rates?
In this SBI scheme, regular citizens get a 7.10% interest rate, and senior citizens get a 7.60% interest rate.
Both people living in India and NRIs can invest in this scheme, with a maximum investment of Rs 2 crore.
After 400 days, which is 1 year and 35 days, your scheme will mature, and you’ll get your money back with the interest.
The Amrit Kalash scheme from the State Bank of India was relaunched in April 2023, initially for a limited time.
However, the deadline for this scheme has been extended multiple times since then.
Interested in investing?
If you want to invest in this SBI scheme, you can do it either online or offline. Online, you can use net banking or the SBI YONO app.
The scheme also allows for premature withdrawal and loans. This means if you want to withdraw the amount before maturity, you can do so.
Also, take note of SBI’s ‘WeCare’ scheme
Apart from the Amrit Kalash Scheme, learn about the State Bank of India’s WeCare Scheme.
This scheme offers high returns on deposits to senior citizens for periods ranging from 5 to 10 years.
You can earn 7.5 percent returns on both 5-year and 10-year tenures. Investments can be made in this scheme until March 31, 2024, and it also comes with the benefit of tax exemption.
