Fixed Deposit (FD) schemes are widely considered a safe and reliable investment option, especially for senior citizens looking for a low-risk, high-return plan. The State Bank of India’s (SBI) Amrit Kalash FD Scheme offers an excellent opportunity with attractive interest rates for a fixed period. Through this article, we will share all the details about how much you can earn in 400 days with SBI Amrit Kalash FD.
SBI Amrit Kalash FD Scheme Details and Interest Rates
The SBI Amrit Kalash FD Scheme is a special 400-day deposit scheme, available until March 31, 2025. It offers an annual interest rate of 7.10% for general investors and 7.60% for senior citizens. This scheme can be especially beneficial for retired individuals.
Potential Returns on Investment
For an investment of ₹1 lakh, general investors can earn ₹7,100 over 400 days, while senior citizens can earn up to ₹7,600. For a larger investment of ₹10 lakh, general investors can receive a monthly interest income of ₹5,916, while senior citizens can earn ₹6,333 per month.
Scheme Tenure Extension
Due to its popularity, SBI has extended the tenure of the Amrit Kalash FD scheme several times. The current tenure, ending on March 31, 2025, is expected to be the final extension.
Interest Payment Options and Investment Process
The scheme offers flexible interest payment options: monthly, quarterly, or half-yearly. Interest is paid on maturity after deducting TDS as per the Income Tax Act and is credited to the investor’s bank account. Interested individuals can invest through the SBI YONO banking app or by visiting their nearest SBI branch.
Important Considerations
While the SBI Amrit Kalash FD Scheme offers a safe investment option with potentially attractive returns, it is important to review all scheme-related documents carefully before investing. Consulting a financial advisor or bank is recommended before making any financial decisions.
Investors should evaluate their financial objectives, risk tolerance, and market conditions. The terms and conditions of the SBI Amrit Kalash FD Scheme are subject to change. Therefore, it is advisable to visit the official SBI website or contact the nearest branch for the most up-to-date information.