SBI’s Fixed Deposit Scheme Amrit Kalash: A Golden Opportunity for Savers to Earn High Returns
- Posted on June 21, 2023
- News
- By Stiti pragnya padhy
- 406 Views

The State Bank of India (SBI) has released an official statement that Amrit Kalash, one of SBI's fixed deposit schemes, will be accessible to both domestic and NRI investors only until June 30, 2023.
Important Details Regarding The Scheme
The period of the special fixed deposit is of 400 days and deposits that are eligible for the special fixed deposit scheme include domestic retail term deposits, including NRI Rupee Term Deposits. This scheme is applicable to both new and renewal deposits, including regular term deposits as well as special term deposits.
The payment of interest for term deposits under the scheme is made at monthly, quarterly, or half-yearly intervals. However, in the case of special term deposits, the interest is to be paid upon maturity. The interest amount, after deducting TDS (Tax Deducted at Source), will be credited to the customer's account. The TDS for the scheme will be applied at the rate determined by the Income Tax Act.

In case there is a need for premature withdrawal, the applicable rules for retail term deposits will be applied here. The special fixed deposit scheme also offers a loan facility to customers, which can be easily accessed through various ways, including branches, INB (Internet Banking), and YONO (You Only Need One) channels. No separate product codes are required specifically for the AMRIT KALASH Deposit under this scheme.
The scheme offers a 7.1 per cent interest rate to other individuals, which means that the general investors will enjoy a 7.29 per cent annualized yield from the Amrit Kalash deposit. It also provides a higher interest rate of 7.6 per cent to senior citizens, while the annualized yield for them is 7.82 per cent.
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