SBI restarted a special FD program, investors get higher returns, credit facilities too

New Delhi. The country’s largest bank, the State Bank of India (SBI), has decided to restart the “Amrit Kalash Scheme”. Seniors earn up to 7.60 percent interest. Let us share that the bank started this special FD program on February 15, 2023 which was valid until March 31, 2023. That’s 400 days FD. Advance and loan facilities are also included in the Amrit Kalash deposit. Let us know everything about this program…

According to the SBI website, the bank has restarted the Amrit Kalash Deposit Scheme with a special term of 400 days. The deadline for investing in this FD program runs from April 12, 2023 to June 30, 2023. General and senior citizens are given the opportunity to invest in FD investments. However, the interest rate was set separately for both categories.

Also read this: The Income Tax Authority has a crooked eye on the gold kept in the house, if you don’t know then you know what are the rules of income tax?

This FD is valid for 400 days
According to the data available on the SBI website, the term of the special term deposit system called Amrit Kalash is 400 days. The interest rate for individuals is 7.10 percent, for seniors 7.60 percent. This rate is higher than the bank’s special V-Care program. The term of SBI We-care Fixed Deposit is 5-10 years. The interest rate is 6.50 percent for individuals and 7.50 percent for seniors.

interest and taxes
Interest on this program is paid monthly, quarterly and semi-annually. Aging interest for the special FD program will be credited to the customer’s account after deduction of TDS. Advance and loan facilities are also included in the Amrit Kalash deposit.

SBI WeCare Senior FD Program
Aside from that, SBI has also extended its WeCare Senior Citizen FD program through June 30, 2023. The program was first launched in May 2020 with an initial maturity date of September 2020. Since then, this FD program for seniors has been expanded again and again. The interest rate offered for this special arrangement for seniors is 7.50 percent for a term of 5 to 10 years.

Be the first to read breaking news in Hindi News18 Hindi| Read Today’s Latest News, Live News Updates, Most Reliable Hindi News Website News18 Hindi.

Tags: Bank FD, FD prices, save money, SBI bank