If you are thinking of investing in fixed deposits, then SBI's Amrit Kalash FD Scheme can prove to be a better option. The bank is giving 7.6 percent interest on FD of 400 days. However, this is for a limited period. In such a situation, investors will have to invest before March 31.
In the Amrit Kalash Scheme, SBI is giving 7.10 percent interest to common citizens and 7.60 percent interest to senior citizens on an FD of 400 days. The special FD scheme offers depositors the option of making monthly, quarterly, and half-yearly interest payments.
Ways to invest in the SBI Amrit Kalash Scheme
Investing in Amrit Kalash FD scheme can be done in online or offline mode before March 31, 2024. Fixed deposits can be made online using SBI Net Banking or YONO app.
TDS is deducted from FD
As per income tax rules, TDS is applicable to Amrit Kalash Scheme of SBI. After deducting TDS, the interest money is deposited in the customer's account.
SBI FD Interest Rates-
7 days to 45 days – 3.50 percent
46 days to 179 days – 4.75 percent
180 days to 210 days – 5.75 percent
211 days to less than 1 year – 6 percent
For 400 days – 7.10 percent
More than 1 year to less than 2 years – 6.80 percent
From 2 years to 3 years – 7 percent
More than 3 years to less than 5 years – 6.75 percent
More than 5 years and up to 10 years – 6.50 percent
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