The State Bank of India has announced the reintroduction of a retail term deposit scheme named ‘AMRIT KALASH’, which is a special program with a tenor of 400 days. Previously, the bank had introduced this retail term deposit scheme for a specific period from February 15, 2023, to March 31, 2023.
As per the SBI website, this scheme will be applicable to domestic retail term deposits, including NRI Rupee Term Deposits below Rs 2 crore, and will be valid for new deposits, renewal deposits, term deposits, and special term deposits.
The rate of interest for the scheme is 7.10% w.e.f. 12-April-2023, while senior citizens will be eligible for a rate of interest of 7.60%.
The scheme will remain valid until 30-June-2023. Interest will be paid on term deposits at monthly, quarterly, and semi-annual intervals, and the maturity interest on special term deposits, net of TDS, will be added to the customer’s account.
Disclaimer: The information provided in this post is based on online sources. However, the reader is strongly advised to verify the information and check for any updates or corrections by referring to the official government notification or website. The author and publisher of this post do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any loss or damage caused directly or indirectly by the use of such information. The reader is solely responsible for any decisions or actions taken based on the information provided in this post.
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