State Bank of India's (SBI) special fixed deposit (FD) scheme Amrit Kalash is ending on 30 September this month. Under this scheme, senior citizens are being given 7.60% annual interest on FD and others are being given 7.10% annual interest.
In this special fixed deposit scheme, one has to invest for 400 days. In such a situation, if you want more interest on FD, then you can invest in this scheme. We are telling you about it.
This is a special term deposit
Amrit Kalash is a special retail term deposit i.e. FD. In this, senior citizens get an interest rate of 7.60% and general citizens get 7.10%. In this, you can make a maximum FD of Rs 2 crore. Under the Amrit Kalash scheme, you are paid interest every month, every quarter and every half year. You can decide the payment of FD interest as per your convenience.
You can invest online or offline
To invest in this scheme, you can also go to the bank branch and invest. You can also invest in it through netbanking and SBI YONO app. Just like a normal FD, you also get the facility of taking a loan on Amrit Kalash.
You can also invest in Amrit Vrishti Scheme
State Bank of India (SBI) is also running another deposit scheme named 'Amrit Vrishti'. Under this scheme, 7.25% annual interest is being given on FD for 444 days. Senior citizens are being given interest at the rate of 7.75% per annum. You can invest in this scheme till 31 March 2025.
Opportunity to invest in SBI 'WeCare' scheme
SBI is also running another special term deposit (FD) scheme 'WeCare'. Under this scheme of SBI, senior citizens will get an extra interest of 50 basis points on deposits (FD) of 5 years or more. Senior citizens get 0.50% more interest than the general public on retail term deposits of less than 5 years.
In such a situation, under the 'WeCare Deposit' scheme, senior citizens will get 1% more interest on FDs of 5 years or more than normal citizens. Accordingly, senior citizens are getting 7.50% interest on FDs for 5 years or more.
Graphics Source: VaskarAssets
