SBI new special fixed deposit (FD) scheme with higher interest rates. Key things to know1 min read 17 Feb 2023, 07:32 AM IST
SBI new special fixed deposit (FD) scheme is a limited period offer which will expire next month
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.
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.
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 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.
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