Active Stocks
Mon Sep 25 2023 10:50:40
  1. Tata Steel share price
  2. 127.35 0.51%
  1. ITC share price
  2. 439.95 -0.73%
  1. Wipro share price
  2. 414.6 -0.97%
  1. Tata Motors share price
  2. 620.45 -0.1%
  1. Power Grid Corporation Of India share price
  2. 197.8 -0.65%
Business News/ News / India/  SBI new special fixed deposit (FD) scheme with higher interest rates. Key things to know

After hiking its fixed deposit (FD) rates by 25 bps, the State Bank of India (SBI) announced a new special term deposit scheme with higher interest rates. The scheme is available for investors in general category as well as senior citizens. However, it is a limited period offer which will expire next month.

SBI new FD scheme- Amrit Kalash Deposit

Introducing “Amrit Kalash Deposit" for domestic and NRI customers with attractive interest rates, 400 days tenure and much more," the lender tweeted.


Amrit Kalash Deposit, SBI new FD scheme: All about it


State Bank of India's new 400 days tenure FD is available for both domestic and NRI customers.


This new deposit scheme is valid from February 15, 2023, to March 31, 2023.

Interest rate

Amrit Kalash Deposit, which will offer an interest rate of 7.6 per cent to senior citizens and 7.1 per cent to others. 


The new fixed deposit scheme is for a period of 400 days. 

Payment of Interest

Special Term Deposits- On maturity


TDS will be applicable rate as per Income-tax Act.

Premature withdrawal

Premature and loan facility will also be available on the new Amrit Kalash Deposit

SBI hikes FD rates

SBI has increased the interest rate on certain tenors on retail domestic fixed deposits below 2 crore. For the tenor of 1 year to less than 2 years, the interest rate has been hiked from 6.75 percent to 6.80 percent for the general public.

For the tenor of 2 years to less than 3 years, the interest rate has been increased by 25 bps from 6.75 percent to 7 percent for the general public

For 3 years to less than 5 years, SBI has hiked the interest rate by 25 bps from 6.25 percent to 6.50 percent for general customers

For the tenor of 5 years and up to 10 years, the bank has hiked the FD rate by 25 bps from 6.25 percent to 6.50 percent.


"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Sangeeta Ojha
A business media enthusiast. Writes on personal finance, business and banking.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 17 Feb 2023, 07:32 AM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App