Special News: This scheme is going to end, used to get tremendous returns on FD

Amrit Kalash, the special fixed deposit scheme of State Bank of India, is ending this month i.e. on 31st March. Under this scheme, 7.60 percent annual interest is being given on FD to senior citizens and 7.10 percent to others.

In this fixed deposit scheme one has to invest for 400 days. In such a situation, if you want more interest on FD then you can invest in this scheme. We are telling you about it.

This is a special fixed deposit
Amrit Kalash is a special retail term deposit i.e. FD. In this, senior citizens get interest rate of 7.60% and common citizens get 7.10% interest rate. In this you can make a maximum FD of Rs 2 crore. Under Amrit Kalash Yojana, you are given interest every month, every quarter and every half year. You can decide the payment of FD interest as per your convenience.

You can invest online or offline
You can also go to the bank branch to invest in this scheme. At the same time, investment can also be made through net banking and SBI Yono app. Like normal FD, the facility of taking loan against Amrit Kalash is also available.

You can also invest in SBI’s ‘VCare’ scheme
SBI is also running another special fixed deposit (FD) scheme ‘VCare’. In this scheme of SBI, senior citizens will get additional interest of 50 basis points on deposits (FD) of 5 years or more.

Senior citizens get 0.50% more interest than the general public on retail term deposits of less than 5 years. Under the ‘WeCare Deposit’ scheme, 1 percent interest will be given on FD of 5 years or more. However, no additional interest will be given on withdrawal before maturity.