According to the website of State Bank of India (SBI), customers have been given more opportunity to invest in the special fixed deposit scheme Amrit Kalash FD. Now investors will be able to open an account in it till December 31, 2023 and will be able to take advantage.
Fixed Deposit ie FD is considered a better option for investing. Last year, when inflation was at its peak and the Reserve Bank of India increased the burden on the people by increasing the repo rate, then many banks in the country gave relief to the customers by increasing the interest rate on their FDs. .
This process is still going on and banks are giving strong interest on FD. These include the country’s largest bank SBI’s Amrit Kalash Scheme (SBI Amrit Kalash FD Scheme), in which more than 7 percent interest is being offered. This scheme was ending on 15 August 2023, but SBI has extended this deadline.
Accounts can be opened till December 31
According to the website of State Bank of India, customers have been given more opportunity to invest in the special fixed deposit scheme Amrit Kalash FD. Seeing its increasing popularity, the bank has once again extended the deadline of this FD scheme.
Now investors will be able to open an account in it till December 31, 2023 and will be able to take advantage. This is a special FD scheme of SBI, in which investment has to be made for 400 days.
Deadline has been extended for the second time
In this special FD scheme of SBI, where common customers get interest at the rate of 7.1 per cent, the bank is providing interest at the rate of 7.6 per cent to senior citizens. The last date of this scheme has been extended twice since its launch.
Significantly, the State Bank had introduced this scheme on April 12 this year and its deadline was fixed till June 23, 2023. But, before the end of the last date, the bank gave the customers an opportunity till August 15, 2023, to invest in the Amrit Kalash scheme. Now it has been given a chance till 31 December 2023 to apply once again.
Loan facility is also available in the scheme
Maturity interest on this FD deposit scheme of SBI, TDS is deducted and deposited in the customer’s account. TDS will be levied at the rate applicable under the Act of Income Tax. Investors can invest up to Rs 2 crore in Amrit Kalash FD.
There is a provision for premature withdrawal in this scheme. You can withdraw the money before the maturity date. According to the bank, no separate product code is required to invest in Amrit Kalash FD. In this you can use Yono Banking App.
These documents are necessary to open an account.
Under Amrit kalash FD Scheme, account holders can take their interest on monthly, quarterly, half-yearly and full-year basis. The interest deducted from TDS is credited to the customer’s account. You can use Form 15G/15H to request tax deduction exemption as per Income Tax (IT) rules. Under the scheme, citizens of 19 years or above can open their account.
To open an account, you need Aadhaar Card, Identity Proof, Age Identity Proof, Income Proof, Valid Mobile Number, Passport Size Photograph and E-mail ID. To apply offline, you can open an account by going to SBI Branch.
You have to fill an application form after reaching the branch. After this, a copy of all the documents sought has to be attached and then it has to be deposited in the bank with an initial investment of some money.
