SBI FD Programs Extended

8 Oct 2024 , 11:57 AM

State Bank of India has extended its special fixed deposit schemes, Amrit Kalash and Amrit Vrishti, which offer higher interest rates, till the end of the fiscal year. The bank had already chosen to continue the scheme until September 30.

SBI’s Amrit Kalash gives 7.10% interest for a 400-day term, while Amrit Vrishti offers 7.25% for 444 days. Seniors receive an additional 50 basis points. Both plans will continue until March 31, 2025.

The new 444-day scheme went live on July 15, 2024, just a few weeks after the Reserve Bank of India instructed bank leaders to close the gap between deposits and loan growth in early June.

State Bank of India (SBI) also plans to hire approximately 10,000 additional staff during the current fiscal year to meet general banking requirements and strengthen its technical capabilities.

The bank has made major investments in technology to ensure seamless client service and to increase the robustness of its digital channels.

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