SBI customers will be pleased to know that the bank is reintroducing its well-liked Amrit Kalash Fixed Deposit Scheme from April 12th until June 30th. The scheme is available to all account holders, whether they are new or existing clients.
By investing in fixed deposits for 400 days, customers can earn an attractive interest rate of 7.10%, or 7.60% for senior citizens. In addition, interest payments will be made in the first, third, and sixth months after the deposit is made, and early withdrawals are also possible. This fixed deposit can even be used as collateral for loans, and any interest earned will be subject to TDS deductions under the Income Tax Act.
Customers who invest in State Bank of India's Amrit Kalash Fixed Deposit Scheme can choose to receive interest payouts in the first, third, and sixth months after the deposit is made. Additionally, they have the option to withdraw their funds early. The fixed deposit can also be used as collateral for loans, and tax deducted at source (TDS) will be levied on the interest earned, as per the Income Tax Act.
The Amrit Kalash Fixed Deposit Scheme by SBI is applicable to both domestic retail term deposits and NRI rupee term deposits for amounts below Rs. 2 crores. Account holders can also utilize the term deposit and special term deposit options. The scheme will be available for benefits until June 30th, following which it will be closed.
The State Bank of India (SBI) has reintroduced its Amrit Kalash Fixed Deposit Scheme, offering up to 7.6% interest to all customers, including new and existing clients. The scheme is available for investment in fixed deposits for 400 days until June 30th. Interest will be paid out in the first, third, and sixth months after the fixed deposit is made, with the option of early withdrawal.
Customers can borrow against this fixed deposit, and TDS will be deducted from the interest earned in accordance with the Income Tax Act. The scheme applies to domestic retail term deposits and NRI rupee term deposits for amounts less than Rs.2 crore, with options for term deposits and special term deposits available.
