SBI Fixed Deposit offering highest interest rate to senior citizens to close this month. Details

SBI Amrit Kalash Deposit Last Date: The Amril Kalash fixed deposit is currently the scheme on which State Bank of India (SBI) is offering the highest interest rates to senior citizens as well as others.

Under Amrit Kalash, an SBI customer can book a fixed deposit of 400 days. The interest rate currently being offered to senior citizens under this special scheme is 7.6%, For the general public, the scheme offers 7.1%, which is the highest interest rate offered by SBI across all tenors. However, the scheme will close this month.

“The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 30-June-2023,” says SBI website.

Also Read: Senior Citizen Fixed Deposit interest rate increase could be a thing of past. Here’s why

SBI had earlier extended the validity of Amrit Kalash. Until the bank decides to further increase the validity of this scheme, customers willing to book an FD of 400 days in SBI should avail the benefit of this scheme by June 30.

SBI Fixed Deposit Interest Rates for Other Tenors*

• 7 days to 45 days FD: The bank is offering 3% interest to the general public and 3.50% to senior citizens.
• 46 days to 179 days FD: The bank is offering 4.5% interest to the general public and 5% to senior citizens.
• 180 days to 210 days FD: The bank is offering 5.25% interest to the general public and 5.75% to senior citizens.
• 211 days to less than 1 year FD: The bank is offering 5.75% interest to the general public and 6.25% to senior citizens.
• 1 Year to less than 2 years FD: The bank is offering 6.8% interest to the general public and 7.30% to senior citizens.
• 2 years to less than 3 years FD: The bank is offering 7% interest to the general public and 7.50% to senior citizens.
• 3 years to less than 5 years FD: The bank is offering 6.5% interest to the general public and 7 % to senior citizens.
• 5 years and up to 10 years FD: The bank is offering 6.5% interest to the general public and 7.5% to senior citizens.

*The above rates are based on information available on SBI website as of June 13

Also Read: Should Senior Citizens change their bank for higher Fixed Deposit interest rate?

Several other banks are offering higher than 7.6% interest rates on FD to senior citizens. As banks are not expected to further hike FD rates soon, customers should avail the benefit of higher interest rates now.