SBI's Amrit Kalash Scheme: solid 7.6% interest rate

SBI's unique 400-day scheme promises a solid 7.6% interest rate.

SBI, the country's largest government bank, has introduced a special FD with a deadline for investment set at September 21, 2024.

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This FD scheme boasts attractive interest rates tailored for both General and Senior Citizens, spanning a tenure of 400 days.

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SBI unveiled this special fixed deposit, dubbed the 400-day fixed deposit or Amrit Kalash Scheme, on April 12, 2023.

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Investors under this scheme stand to gain a generous 7.10% interest rate over a 400-day FD period.

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Senior citizens opting for this scheme will enjoy an even higher interest rate of 7.60% on their 400-day FD.

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The deadline for SBI's Special FD has undergone multiple extensions, initially set for June 23, 2023.

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Subsequently, the deadline was pushed to August 15, 2023, and later extended to December 31, 2023.

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Further extensions followed, offering investment opportunities until March 31, 2024, and now, the deadline stands at September 21, 2024.

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Additionally, SBI provides varying interest rates for investors across different tenures ranging from 7 days to 10 years.

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Diverse investment tenures offer the potential for substantial returns, with senior citizens enjoying an extra 0.5% interest compared to the general public.

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