SBI announces Amrit Kalash Deposit FD scheme with up to 7.60% rate of interest

20 Feb 2023 , 01:04 AM

The largest lender of India, State Bank of India (SBI) has announced a new fixed deposit scheme for domestic and NRI customers known as SBI Amrit Kalash Deposit. The scheme is available for a limited period till 31 March 2023 with “attractive interest rates”, and has tenure of 400 days.

The scheme offers 7.10% interest rates, while senior citizens will get 7.60% interest on the Fixed Deposit.

Now the State Bank of India is offering 7% from 6.75% interest for FDs maturing between 2 years to less than 3 years and 6.5% from 6.25% on 3 years to less than 5 years.

Recently, SBI had also announced to increase its key lending rate by 10 basis points (bps) across tenures following the repo rate hike by Reserve Bank of India (RBI). The new rates are effective from February 15, as per SBI’s website.