SBI’s superhit 400 days FD scheme: The deadline for State Bank of India’s special FD scheme (SBI Amrit Kalash) is about to end. In this, investors have to invest for just 400 days.
SBI’s superhit 400 days FD scheme: When it comes to safe investment and great returns, Fixed Deposit Schemes (FD Schemes) are quite popular in this case. Especially senior citizens take utmost care while investing that their investment is completely safe and the interest income on it is also high. The 400-day special FD scheme of the country’s largest government bank SBI has become quite popular in this case, which is called Amrit Kalash Scheme (SBI Amrit Kalash FD Scheme), its deadline is about to end and people have the last chance to invest in it.
Senior Citizens get more benefit
During the Corona period, when inflation was at its peak, the Reserve Bank of India had continuously increased the repo rate to control it. At such a time, many banks in the country had increased the interest rate on FD to benefit their customers. Talking about SBI’s Amrit Kalash FD Scheme, this is a special 400-day FD scheme (400 Days FD Scheme). In which a strong interest rate of 7.10 percent is offered to the general customers. Whereas senior citizens get even more benefit in this, because for them the interest rate has been fixed 0.50 percent higher i.e. 7.60 percent.
The deadline has been extended several times
This scheme became popular since the launch of SBI and the number of investors in it has increased continuously. The popularity of this 400-day FD scheme can be gauged from the fact that the bank has had to extend its deadline several times. It was first introduced on April 12, 2023 and its deadline was fixed as June 23, 2023. After this, it was extended to December 31, 2023 and then it was extended to March 31, 2024. Before the expiry of this deadline, SBI extended the last date of this special FD scheme to September 30, 2024 and once again it was extended to March 31, 2025.
Calculation of income from interest?
If a general investor invests Rs 1 lakh under this scheme, he will earn Rs 7,100 annually as interest. On the other hand, senior citizens will get Rs 7,600 annually as interest. This scheme will mature in 400 days. That means you will have to invest for 400 days under this scheme. You can invest up to Rs 2 crore in Amrit Kalash Special FD. Now suppose an investor invests Rs 10 lakh, then he will earn Rs 71,000 annually from interest, that is, an income of Rs 5,916 every month. Senior citizens can also get Rs 6,333 every month.
When can you get the interest amount?
Investors in Amrit Kalash Scheme can get interest on monthly, quarterly and half-yearly basis. Maturity interest on this special FD deposit will be deposited in the customer’s account after deducting TDS. TDS will be levied at the applicable rate under the Income Tax Act. To invest in this scheme, you can use SBI’s Yono banking app. Apart from this, you can also invest in this scheme by visiting the branch.
Most Read Articles:
- UPI New Rule: You will have to pay a charge on UPI transactions? Digital payment users may get a shock
- Indian Railways: Good news for passengers! Railways added 62 more special trains for Holi, check routes & other details
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
