SBI FD Rates: Govt-Backed Special FD Set To End Soon, Offers 7.6% Interest Rate

Leading public sector bank State Bank of India's special fixed deposit namely Amrit Kalash deposit will soon come to an end. The 400-day special fixed deposit scheme of SBI offers regular citizens an interest rate of 7.1% and 7.6% interest rate to senior citizens.

It is worth mentioning that the last date of SBI Amrit Kalash fixed deposit is August 15.

According to SBI Bank's official website, "The specific tenor scheme of "400 days" (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 15-August-2023."

State Bank of India also offers Sarvottam (Non-Callable) Domestic Retail Term Deposits to residents offering general citizens an interest rate of 7.40% and 7.90% interest rate to senior citizens for 2 years tenors. These interest rates are applicable for term deposits above Rs 15 lakhs to less than Rs 2 crores.

Meanwhile SBI is also offering attractive interest rates on Sarvottam (Non-Callable) Domestic Bulk Term Deposits. Interest rates on 'Sarvottam (Non-Callable) Domestic Bulk Term Deposits (Rs 2 crores & above), will be 7.05% for regular citizens and 7.55% for senior citizens for 1-year tenor.

When it comes to SBI Amrit Kalash FD, residents can book the FD by visiting the SBI branch, internet banking, or via the SBI YONO app. The payment of interest under Amrit Kalash deposit scheme is done monthly, quarterly, and half yearly intervals.

The bank offers interest rates varying between 3% to 7% to regular citizens for deposits below Rs 2 crore. Senior citizens can fetch interest rates varying between 3.50% to 7.50% for FD amount below Rs 2 crore.