A Fixed Deposit (FD), also known as a term deposit, is a financial instrument offered by banks and financial institutions where you invest a lump sum amount for a fixed period at a predetermined interest rate. These deposits are widely regarded as a safe and reliable investment option, especially for senior citizens looking for low-risk, high-return schemes.
Amrit Kalash FD Scheme
The State Bank of India (SBI) Amrit Kalash FD scheme is one such opportunity, offering attractive interest rates for a fixed tenure. The SBI Amrit Kalash FD Scheme is a limited-period fixed deposit plan available until March 31, 2025. It has a tenure of 400 days and offers an annual interest rate of 7.10% for regular investors and 7.60% for senior citizens. This scheme is ideal for retirees and individuals looking for a secure investment with a steady return.
Expected Earnings on Investment
If you invest Rs 2 lakh in the SBI Amrit Kalash FD scheme, you can earn around Rs ₹14,200 in interest over 400 days. For senior citizens, the earnings go up to ₹15,200 due to the higher interest rate. If you invest Rs 10 lakh, you could receive a monthly interest payout of Rs 5,916, while senior citizens could earn Rs 6,333 per month, making it a great option for those looking for a steady income.
Breakdown of interest earnings for a ₹2 lakh investment in the SBI Amrit Kalash FD Scheme (400 days)
1, General Investors (7.10% p.a.)
- Total Interest (400 days): ₹7,100
- Monthly Interest Payout: ₹532
- Quarterly Interest Payout: ₹1,598
- Half-Yearly Interest Payout: ₹3,195
2, Senior Citizens (7.60% p.a.)
- Total Interest (400 days): ₹7,600
- Monthly Interest Payout: ₹570
- Quarterly Interest Payout: ₹1,710
- Half-Yearly Interest Payout: ₹3,420
The scheme provides flexible interest payout options, allowing investors to choose between monthly, quarterly, or half-yearly payments. The interest is credited to the investor’s bank account upon maturity, after deducting TDS as per the Income Tax Act.
However, for those interested in investing, the process is simple—investors can apply through the SBI YONO Banking App or visit their nearest SBI branch or SBI’s Website.
Disclaimer: The interest calculations provided are approximate and may vary based on SBI’s policies, TDS deductions, and compounding frequency.
