All about SBI Amrit Kalash special deposit scheme 2023

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SBI has decided to introduce new Retail Term Deposit scheme “SBI Amrit Kalash” of specific tenor with
benefit in terms of higher rate of interest. Salient features of the Scheme are as under:

SchemeAmrit Kalash
AvailableFrom 15.02.2023 to 31.03.2023
Period of Deposit400 Days
Eligible Depositsi) Domestic Retail Term Deposits including NRI Rupee Term Deposits (< Rs 2 crore)
ii) New and Renewal Deposits
iii) Term Deposit and Special Term Deposit only
Interest Rate7.10%
Senior Citizens, Staff and Staff Pensioners
are eligible for additional interest rate
applicable to them i.e. 7.60%
Payment of Interesti) Term Deposits – At monthly/ quarterly/half
yearly intervals
Special Term Deposits- On maturity
ii) Interest, net of TDS, shall be credited to
Customer’s Account
TDSAt applicable rate as per Income-tax Act
Premature WithdrawalAs applicable for Retail term deposit.
Loan FacilityAvailable
Available throughSBI Amrit Kalash FD Scheme is available through branch/INB/YONO channels and the special FD scheme of SBI also comes with premature withdrawal and loan against deposit facilities.
OthersNo separate product codes are required for

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The bank previously introduced this retail term deposit programme, and it was valid from February 15, 2023, through March 31, 2023. But on April 12, 2023, SBI stated that its Amrit Kalash FD retail term deposit programme has been extended till 30th June 2023.

Domestic retail term deposits including NRI Rupee Term Deposits of less than ₹2 crore, new and renewal deposits and term deposit and special term deposit only are the eligible deposits for SBI Amrit Kalash FD Scheme.

How is interest paid in SBI Amrit Kalash Deposit Scheme

Interest is paid on term deposits at monthly, quarterly, and semi-annual intervals. The maturity interest on special term deposits, net of TDS, will be added to the customer’s account.

It should be noted that TDS will be levied at the applicable rate under the Income-tax Act. The new Amrit Kalash Deposit will also include a premature and loan facility.

What is Amrit Kalash in SBI?

It is special fixed deposit scheme for period of 400 days

How can I open Amrit Kalash deposit in SBI?

Account can be opened through Branch, Internet Banking and Yono mobile app

What is the interest of 10 lakh in SBI per month?

Rs. 6076 per month with ROI @7.10% and Rs. 72913 for 12 months

What is the benefit of Amrit Kalash in SBI Bank?

The main benefit is High Interest Rate and Low maturity period


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