The State Bank of India (SBI) has introduced a special Fixed Deposit (FD) scheme called ‘Amrit Kalash’ (SBI Amrit Kalash Yojna) that promises significant returns in just 400 days.
This scheme offers an interest rate of 7.6 percent and is available for investment until September 30, 2024.
Details of the Amrit Kalash Yojana
Under the Amrit Kalash Special FD scheme, regular customers will receive an interest rate of 7.10%, while senior citizens are offered a higher rate of 7.60%.
The bank has extended the deadline for this scheme by six months, giving investors ample time to participate.
Investments can be made both online and offline, and the scheme also offers a bank loan facility for investors.
Benefits and Terms of the Amrit Kalash Scheme
Investors in the Amrit Kalash scheme can choose to receive their interest payments monthly, quarterly, or half-yearly.
Upon maturity, the interest, after deducting TDS, is credited to the investor’s account. However, if the FD is withdrawn before the 400-day period, a penalty of 0.50% to 1% less interest rate than the applicable rate will be charged.
This scheme is designed to provide guaranteed returns, making it an attractive option for those looking to grow their wealth in a short period.
