State Bank of India (SBI) has extended the validity of the Amrit Kalash special fixed deposit (FD) scheme. The special fixed deposit scheme for retail customers offers higher interest rates for regular and senior citizens.
What is last date to invest in Amrit Kalash?
SBI customers can invest in Amrit Kalash till September 30, 2024.
According to the bank website, “The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 30-September-2024.”
Premature Withdrawal
According to the SBI website, “The interest shall be 0.50% to 1% below the rate applicable at the time of Deposits for the period Deposit has remained with the Bank or 0.50% or 1% below the contracted rate, whichever is lower.”
Payment of Interest
Term Deposits – At monthly/ quarterly/half yearly intervals Special Term Deposits- On maturity ii) Interest, net of TDS, shall be credited to Customer’s Account.
State Bank of India has increased fixed deposit interest rates on certain tenures. Now interest rates ranges between 3.5% and 7% (except Amrit kalash) for general citizens for amounts below Rs 2 crore and for senior citizens, interest rates offered are between 4% and 7.50%.
Latest SBI FD interest rates
| General Public | Senior Citizen | |
| Tenors | Revised Rates (%) for Public w.e.f. 27/12/2023 | Revised Rates (%) for Senior Citizen w.e.f. 27/12/2023 |
| 7 days to 45 days | 3.5 | 4 |
| 46 days to 179 days | 4.75 | 5.25 |
| 180 days to 210 days | 5.75 | 6.25 |
| 211 days to less than 1 year | 6 | 6.5 |
| 1 Year to less than 2 years | 6.8 | 7.3 |
| 2 years to less than 3 years | 7 | 7.5 |
| 3 years to less than 5 years | 6.75 | 7.25 |
| 5 years and up to 10 years | 6.5 | 7.50* |
SBI Green Rupee Term Deposit (SGRTD) details
As per the SBI press release, SGRTD offers investors the flexibility to choose from three distinct tenors: 1111 days, 1777 days, and 2222 days. The highest interest rates offered under the scheme is 7.40% is on 2222 days. Note that the interest rate in these will be at 10 bps below Card Rate for Retail deposits.
