New Delhi: The Fixed Deposit scheme of State Bank of India (SBI) – Amrit Kalash – is one of the popular FD plans in the market. People who don’t want to risk their investments in stock market linked schemes can opt to deposit their hard-earned money in this. SBI introduced the new Retail Term Deposit scheme of specific tenor with benefit in terms of higher rate of interest of 7.10 per cent.
Amrit Kalash Calculator
If a depositor invests Rs 2,00,000 in SBI Amrit Kalash scheme, the beneficiary will be entitled to get Rs 2,15,613.52.
Let’s take the example of Rs 3 lakh, the scheme will FD scheme will ensure that the depositor gets Rs 323420.28 on maturity.
What if an individual plans to invest Rs 5 lakh in SBI Amrit Kalash scheme, the depositor will get Rs 539033.80 after 400 days.
| Scheme | 'AMRIT KALASH' |
| Period of Deposit | 400 days |
| Eligible Deposits | Domestic Retail Term Deposits including NRI Rupee Term Deposits (< Rs 2 crore). New and Renewal Deposits. Term Deposit and Special Term Deposit only |
| Interest Rate | 7.10% – Senior Citizens, Staff and Staff Pensioners are eligible for additional interest rate applicable to them. |
| Payment of Interest | Term Deposits – At monthly/ quarterly/half yearly intervals Special Term Deposits- On maturity. Interest, net of TDS, shall be credited to Customer’s Account |
| TDS | At applicable rate as per Income-tax Act |
| Premature Withdrawal | As applicable for Retail term deposit. |
| Loan Facility | Available |
| Available through | Branch/INB/YONO Channels |
SBI Fixed Deposit interest rates
Below mentioned table lists down the Interest Rates on Retail Domestic Term Deposits below Rs 3 crore. SBI allows a minimum period of deposit of 7 days and a maximum period of deposit of 10 years. The country’s largest private sector bank allows customers to open FD scheme at all its branches. The bank has fixed the minimum deposit amount at Rs 1,000/- and the there is no upper limit. A deposit of Rs 2 crore and more is classified as bulk deposit.
| Tenors | Existing Rates for Public w.e.f. 15/05/2024 | Revised Rates for Public w.e.f. 15/06/2024 | Existing Rates for Senior Citizen w.e.f. 15/05/2024 | Revised Rates for Senior Citizen w.e.f. 15/06/2024 |
| 7 days to 45 days | 3.5 | 3.5 | 4 | 4 |
| 46 days to 179 days | 5.5 | 5.5 | 6 | 6 |
| 180 days to 210 days | 6 | 6.25 | 6.5 | 6.75 |
| 211 days to less than 1 year | 6.25 | 6.5 | 6.75 | 7 |
| 1 Year to less than 2 years | 6.8 | 6.8 | 7.3 | 7.3 |
| 2 years to less than 3 years | 7 | 7 | 7.5 | 7.5 |
| 3 years to less than 5 years | 6.75 | 6.75 | 7.25 | 7.25 |
| 5 years and up to 10 years | 6.5 | 6.5 | 7.50* | 7.50* |
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