Mumbai: Largest public sector bank in the country, State Bank of India (SBI) reintroduced a retail term deposit called as ‘SBI Amrit Kalash’. It is a special scheme of 400 days tenor. This special term deposit offers a interest rate of 7.10% for the general customer and 7.6% for senior citizens.
‘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 30-June-2023,’ SBI said in a statement.
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This fixed-term deposit was first introduced in FY22-23, from February 15, 2023 to March 31, 2023.
Customers who want to deposit in the scheme can do so at SBI’s branches, through Netbanking, or through the SBI YONO mobile app. They can also avail loan against the ‘Amrit Kalash’ deposit scheme. A premature withdrawal facility is also available in this scheme.
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