State Bank of India has introduced us to a new Fixed Deposit or FD scheme for both domestic and NRI investors. According to the SBI, the Amrit Kalash Deposit FD scheme has a maturity period of 400 days and offers lucrative returns over initially invested amounts. For senior citizens, this scheme offers a 7.60 per cent interest rate on their FD deposits under this scheme. However, this scheme is only active till March 31st, 2023 and investors applying before this date will be eligible to take the benefits.
SBI Introduced Amrit Kalash Deposit FD Scheme
“Introducing “Amrit Kalash Deposit” for domestic and NRI customers with attractive interest rates, 400 days tenure, and much more,” the State Bank of India tweeted on their official handle to inform the potential investors.
Recently, after RBI had increased their key lending rates for all the banks, the State Bank of India announced to hike its interest rates for both deposits and borrowings by 10 basis points for all FD plans. Furthermore, SBI has informed us that the revised interest rates are applicable from February 15. Thus, for FDs maturing between 0-3 years, the bank is offering an interest rate of 7% from 6.75% and 6.5% from 6.25% on the FDs having a tenure of 2-3 years.
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Few Other SBI Fixed Deposit Schemes
“With effect starting on February 15, 2023, SBI increased the interest rates on fixed deposits or term deposits on sums under Rs 2 crore by 5 basis points to 25 basis points. Senior people would receive interest rates that are 25 basis points higher than those available to other investors. With the increase, the bank is now offering interest rates ranging from 3% to 7% for regular people and from 3.5% to 7.5% for senior citizens,” mentioned News18
“A week after the Central Bank of India (RBI) raised its repo rate by 25 basis points to 6.50 per cent, the FD rates were changed. The repo rate had now increased six times in a row since May 2022. Along with this, SBI is also providing the SBI Wecare deposit scheme for senior citizens in the retail TD segment,” further added.
