Great scheme of SBI… Strong interest on 400 days investment, only 7 days left

SBI Scheme: Now only one week left for the year 2023 to end and the preparations to welcome the new year 2024 have also intensified across the country. Along with this month of December, the term of many important works is also ending. These important functions also include investment-related schemes, one of which is the SBI Amrit Kalash FD scheme, which offers tremendous interest on 400 days of investment. It expires on 31 December 2023.

There is little hope of an increase in the deadline
Earlier the deadline of SBI Amrit Kalash Yojana was expiring on 15th August 2023, which was extended by the bank to 31st December. Currently, no notification has been issued by SBI regarding the extension of the last date of this scheme. Means now only 7 days left to invest in this FD scheme. This is a special FD scheme of SBI, which has to invest for 400 days.

It may be noted that State Bank had introduced this scheme on 12 April 2023 this year and its deadline was fixed as 23 June 2023. But even before the last date, the bank gave customers an opportunity to invest in the Amrit Kalash scheme till August 15, 2023. After this it was extended once again and given time to apply till 31 December 2023, which is about to expire.

7.6% interest to senior citizens
In this special FD scheme of SBI, while general customers get interest at the rate of 7.1 percent, the bank offers interest at the rate of 7.6 percent to senior citizens. Maturity interest and TDS are deducted on this scheme and credited to the customer’s account. TDS will be charged at the rate applicable under the Income Tax Act. Investors can invest up to Rs 2 crore in Amrit Kalash FD.

This scheme has a provision for early withdrawal. That means you can withdraw money before the maturity date. According to the bank, no separate product code is required to invest in Amrit Kalash FD. In this you can use Yono Banking App.

Opening an account is very easy
Account holders can avail their interest on monthly, quarterly, half-yearly and yearly basis under Amrit Kalash FD Yojana. The interest deducted from TDS is credited to the customer’s account. You can use Form 15G/15H to claim tax deduction exemption as per Income Tax (IT) rules. Citizens aged 19 years or above can open their account under the scheme.

To open an account, you need Aadhaar card, identity proof, age proof, income proof, valid mobile number, passport size photograph and e-mail ID. To apply offline you have to go to SBI branch.