SBI Special FD Scheme: The country’s largest government bank is State Bank of India (SBI). SBI has revised the interest rate on FD (SBI FD Rate Hiked) on May 15, 2024. The bank has increased the interest rate on FDs of less than Rs 2 crore by 0.75 percent.

The bank offers both normal FD and special FD to the customers. Today we will tell you about SBI Special FD Scheme Amrit Kalash. You can invest in this scheme till 21 September 2024.

About SBI Amrit Kalash FD
Amrit Kalash is a Special Term Deposit FD. In this one has to invest for 400 days. The bank gives more interest on this FD as compared to other FDs. The interest rate available in this FD scheme ranges from 7.60 percent to 7.10 percent.

The bank offers 7.10 percent interest to the common citizen. At the same time, it gives interest of 7.60 percent to senior citizens. Investors can invest up to Rs 2 crore in this FD. Apart from this, interest on FD is paid monthly, quarterly or annually.

Investors can choose when interest is paid on FD. Let us tell you that in this scheme the investor also gets the facility to take loan.

How to invest in SBI Amrit Kalash FD
If you are planning to invest in SBI Amrit Kalash FD, then let us tell you that you can invest in this scheme in both online and offline mode. For offline investment you will have to go to the bank branch.

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Many banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, Punjab National Bank (PNB), Bank of Baroda (BoB) offer 50 basis points (0.50 basis points) to senior citizens for FDs of 7 to 10 years compared to normal customers. per cent) pay additional interest. Let us take a look at the interest rates offered to senior citizens on these special FDs.

SBI Special FD Scheme for Senior Citizens

We Care, the special FD scheme of State Bank of India, offers an additional 30 bps interest rate to senior citizens on their FDs for a tenure of 5 years or more. If a senior citizen puts a fixed deposit under the special FD scheme, then the interest rate applicable on FD will be 7.50 per cent.

These interest rates are effective from February 15, 2023. SBI Amrit Kalash FD scheme comes with a special tenor of 400 days, on which general public will get an interest rate of 7.10% and senior citizens will get an interest rate of 7.60%.

HDFC Bank Special FD Scheme for Senior Citizen

HDFC Bank’s special FD scheme for senior citizens is called HDFC Senior Citizen Care. The bank offers 75 bps higher rate of interest on these deposits. According to the bank’s website, the last date for investing in the Senior Citizen Care FD scheme has been extended till July 7, 2023.

HDFC Bank offers an interest rate of 7.75% to senior citizens for tenure between 5 years and 1 day to 10 years. These rates are effective from May 29, 2023. Apart from this, HDFC Bank has also introduced two special edition FDs with tenures of 35 and 55 months which offer interest rates of 7.70% and 7.75% respectively to senior citizens.

ICICI Bank Special FD Scheme for Senior Citizens

ICICI Bank’s Special FD Scheme for Senior Citizens – ICICI Bank Golden Years FD Scheme offers 80 bps higher interest rate. ICICI Bank Golden Year FD scheme offers 7.50 per cent interest annually. These interest rates are effective from February 24, 2023.

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The last date for investment in this scheme has been extended by three months to June 30, 2023. Let us tell you that SBI’s Vcare scheme was open only till March 31, 2023, but now SBI has once again extended its last date.

When was this scheme started

SBI started its ‘Vcare’ Senior Citizens Deposit Scheme in May 2020 during the Corona period. Initially it was introduced only till September 2020. But since then the bank has extended the deadline for investing in this scheme several times.

According to SBI’s website, an additional interest rate of 50 basis points (0.50 per cent) is offered to senior citizens on FDs as compared to general citizens, and an additional 50 basis points is offered under the SBI WeCare scheme. That is, senior citizens get full 1 percent more interest under the VCare scheme than ordinary citizens. In this way, the interest rate given to senior citizens under the scheme is 7.50 percent for a period of 5 years to 10 years.

Check interest rates for remaining tenures

At present, SBI is offering senior citizens 3.5% on FDs of 7 days to 45 days, 5% on 46 days to 179 days, 5.75% on 180 days to 210 days and 6.25% on 211 days to less than 1 year. Used to be. On the other hand, senior citizens can get 7.3 percent interest rate on 1 year to less than 2 years, 7.5 percent on 2 years to less than 3 years and 7 percent on 3 years to less than 5 years.

Keep in mind that these interest rates are for amounts less than Rs 2 crore. The good thing is that SBI Bank customers can avail loan under this FD scheme.

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Under this scheme, up to 7.60 percent interest is being offered to senior citizens. The bank started this special FD scheme on 15 February 2023. It has been named Amrit Kalash Scheme. This 400 days FD. Let us know everything about this scheme.

This FD is for 400 days

According to the data available on the SBI website, the special fixed deposit scheme known as Amrit Kalash (SBI Special FD Amrit Kalash) is of 400 days. The interest rate for individuals is 7.10 per cent, while for senior citizens the interest rate is 7.60 per cent. This interest rate is more than the special V-Care scheme of the bank. The tenure of SBI We-care Fixed Deposit is 5-10 years. In this, the interest rate for individual is 6.50 percent and for senior citizens, it is 7.50 percent.

Will get interest of 43 thousand rupees

According to SBI FD Calculator, if a senior citizen invests Rs 5 lakh in Amrit Kalash Scheme (SBI Amrit Kalash Scheme), then after 400 days he will get a total of Rs 5 lakh 43 thousand 2. Meaning, after a little more than a year, he will get 43 thousand rupees only as interest. Explain that the interest is calculated on the basis of quarterly compounding.

This facility till 31 March

State Bank last changed the interest on General Fixed Deposit (SBI Fixed Deposit Rates) on 15 February. The bank is offering minimum 3 percent and maximum 7 percent interest to the general public. The minimum interest rate for senior citizens is 3.50 percent and the maximum interest rate is 7.50 percent.

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