State Bank of India (SBI) has launched a special Fixed Deposit (FD) scheme for its customers – Amrit Kalash Yojana. This scheme is very beneficial for those investors who want to get good returns in a short time. Let’s know about this scheme in detail:
What is Amrit Kalash Yojana?
SBI’s Amrit Kalash Yojana is a special term FD, in which investment can be made for 400 days. In this scheme, common citizens get interest rate up to 7.60% and senior citizens get up to 8.10%. This scheme provides attractive returns along with safe investment.
How much interest will you get?
If you invest Rs 4 lakh in this scheme, then in 400 days you will get interest of ₹ 31,123. That is, on maturity you will get a total of ₹ 4,31,123.
Special benefits for senior citizens
Senior citizens get the benefit of 0.50% additional interest rate in this scheme. That is, their interest rate can be up to 8.10%. This scheme is a safe and attractive option for elderly investors.
How to open an account?
You can open an FD account through the YONO app even while sitting at home. Apart from this, you can also open this account by visiting the nearest SBI branch. For this you will need Aadhar card, PAN card and a passport size photo.
Some important questions (FAQs)
Is this scheme only for Indian citizens?
Yes, only Indian citizens can invest in this scheme.
How much additional interest do senior citizens get?
Senior citizens get 0.50% additional interest.
Can this scheme be availed online?
Yes, you can open an FD account online through YONO app or SBI net banking.
Also know:
In SBI, you can make FD for a period ranging from 7 days to 10 years.
Interest rates vary according to your deposit amount and investment period.
Conclusion:
SBI’s Amrit Kalash Yojana is a great option for investors who want to get attractive returns along with safe investment. This scheme is especially beneficial for senior citizens.
Note: Before investing, read the terms and conditions of the scheme carefully.