SBI FD Interest Rate: Under SBI’s Amrit Kalash FD scheme, you can invest till March 31. In this scheme, investment is made for 400 days, which gives good interest from the bank.
Fixed Deposits Interest Rate: Fixed deposits (FD) made in any bank are considered a safe and reliable investment. This is a low-risk and good return investment especially for the elderly. Amrit Kalash FD scheme of State Bank of India (SBI) provides such an investment opportunity. Under this, you get the benefit of attractive interest rates for a fixed period. SBI’s Amrit Kalash FD scheme is a 400-day deposit scheme.
How much will you get on investing Rs 1 lakh
Under this scheme, you can invest till 31 March 2025. In this, common people get 7.10% interest every year and senior citizens get 7.60% interest. This scheme is very good for those who have retired and want a fixed income every month. If a person invests one lakh rupees in this, then he will get an interest of about Rs 7,100 in 400 days. But if an elderly person invests one lakh, then he will get an interest of about Rs 7,600.
How much will be the benefit every month?
If a common man invests Rs 10 lakh, he will get an interest of about Rs 5,916 every month. But if an elderly person deposits Rs 10 lakh, he will get an interest of about Rs 6,333 every month. Seeing the popularity of the scheme, SBI has extended the time limit of Amrit Kalash FD scheme several times. In the current time limit, it is being told that its last extension is till March 31, 2025.
Interest money is deposited in the account
There are many options to pay interest under the scheme. You can take interest every month, once in three months or once in six months. At the end of the scheme, the interest is deposited in your account. But according to the Income Tax Act, TDS is deducted on it. If you want to invest in this scheme, then you can invest through SBI Yono banking app or by visiting your nearest SBI branch.
Keep these things in mind
SBI Amrit Kalash FD scheme is a good way of safe investment and has the potential to give good returns. But before investing, it is important to read all the documents related to the scheme carefully. Before taking any financial decision, it would be best to consult a financial advisor or the concerned bank. The investor should focus on his financial goals, risk taking capacity and market conditions.
