SBI Amrit Kalash scheme: State Bank of India offers interest rates between 3% to 7% on amount less than Rs 2 crore for general citizens and interest rates for senior citizens are between 3.50% and 7.50%.
SBI Amrit Kalash scheme: Everyone wants a good return on their investment. In such a situation, schemes have also been started by many banks. These schemes offer higher interest rates as compared to FDs. These plans are only for a short period of time. But there are some other schemes, which will close on 15 August 2023. That is, these schemes will end in a few hours and in such a situation, a good source of income for senior citizens along with common people will stop.
Special Fixed Deposits from State Bank of India and IDBI Bank known as Amrit Kalash and Amrit Mahotsav FD. Both these schemes will expire on August 15, 2023.
The bank offers ‘Amrit Kalash’ Retail Fixed Deposit scheme at 7.10% per annum for regular citizen. The tenure of the deposit is 400 days. According to the SBI website, senior citizens are eligible for an interest rate of 7.60%.
TDS and interest
This special FD scheme of State Bank of India offers interest on the basis of every month, 3 months and 6 months. Interest is deducted from TDS and deposited in the account. TDS is levied as per income tax rules. The depositor can use Form 15G/15H to request exemption from tax deduction under IT rules.
State Bank of India offers interest rates between 3% to 7% for general citizens on an amount less than Rs 2 crore and for senior citizens the interest rates are between 3.50% and 7.50%.
IDBI Bank Amrit Mahotsav FD
Amrit Mahotsav FD is a unique Fixed Deposit offered by IDBI Bank for tenors of 375 and 444 days. The bank offers an interest rate of 7.15% under the 444 days Amrit Mahotsav FD scheme to Regular, NRR and NRO customers. The bank gives 7.65% interest to old people. The bank offers an interest rate of 7.10% under the 375 days Amrit Mahotsav FD scheme to Regular, NRE and NRO customers.
The bank offers 7.60% interest rate for senior citizens under this scheme. IDBI Bank offers interest rates between 3% to 6.80% for general citizens on an amount less than Rs 2 crore and for senior citizens, the interest rates are between 3.50% and 7.30%.
These are also special schemes
Indian Bank’s special FDs are IND SUPER 400 DAYS and IND SUPREME 300 DAYS, which will close on August 31, 2023. Punjab and Sindh offer higher interest rates on tenures of 400 days and 601 days, and the last date to invest is September 30, 2023.
