New Delhi: State Bank of India’s (SBI’s) Special FD scheme –SBI Amrit Kalash Deposit Scheme — has been extended yet again. As per the bank’s website, the last date to invest in the SBI Special FD Scheme with upto 7.60 percent interest rates is now 31 March 2024.

SBI had in August this year extended the deadline for Amrit Kalash Deposit Scheme Application State Bank of India (SBI). Issuing a circular, SBI had said that last date to apply for the 400-day tenor Amrit Kalash Deposit Scheme is December 31, 2023 from its initial deadline of August 15, 2023.

SBI Amrit Kalash Deposit Scheme – Interest Rate

The 400-day tenor special deposit scheme offers an attractive interest rate of 7.10% while Senior citizens will get FD interest rates of 7.60 percent.

SBI Amrit Kalash Deposit Scheme – Eligibility

Eligibility for SBI Amrit Kalash Deposit Scheme The scheme is accessible to individuals falling under the following categories:

Domestic retail term deposits, including NRI rupee term deposits (up to 2 crore).

New and renewed deposits.

Term and special term deposits.

Originally launched on February 15, 2023, with a supposed conclusion on March 31, 2023, the scheme has been granted multiple lifelines to accommodate interested participants.

SBI Amrit Kalash Deposit Scheme – Payment Of Interest

Interest Payment Procedure for SBI Amrit Kalash Deposit Scheme Participants have the flexibility to select their preferred deposit term under this scheme, choosing from monthly, quarterly, and semi-annual options. Accrued interest, net of TDS, will be directly credited to the customer’s account. Tax Deducted at Source (TDS) and other applicable taxes will be deducted as per the Income Tax Act. The scheme also provides an avenue for investors to avail loans, and premature withdrawal is also facilitated by the bank.

How to subscribe to SBI Amrit Kalash Deposit Scheme? 

Subscription Process for the Scheme Prospective investors have various avenues to subscribe to the SBI Amrit Kalash FD scheme. They can purchase it by visiting a branch, using Internet banking services, or utilizing the SBI YONO app.

The extension of the application deadline for the Amrit Kalash Deposit Scheme by SBI underscores the bank’s commitment to making beneficial investment opportunities accessible to a wider range of individuals, promoting financial inclusivity and empowerment.