SBI offers its clients a plethora of unique services. Customers of the biggest government bank in the nation can now take advantage of a higher interest rate on savings accounts (SBI FD), but this offer is only valid through March 31st. The SBI Amrit Kalash Scheme and Wecare Scheme advantages are only available until the 31st. There is still time if you haven’t invested in this scheme. You can earn more than 7% interest in these schemes.
Amrit Kalash Scheme
Customers of the State Bank of India are offered a unique FD facility. This FD is known by the name Amrit Kalash. March 31st is the last day to invest in this. Interest is provided in this program at the rate of 7.10 percent on FD of 400 days. There is also a guarantee of returns in this. In this scheme, interest is paid only on the maturity of the fixed deposit. Suppose you have made a fixed deposit for 400 days and if you withdraw the money before that, then 0.50 to 1 percent of the amount is deducted as an interest penalty on withdrawal of the deposit amount.
The SBI We Care FD Programme
State Bank of India offers the WeCare Scheme feature; however, you may only make use of its benefits through March 31st. Customers of SBI can take advantage of higher interest rates on WeCare FD. Interest is paid at a rate of 7.50 percent under this SBI arrangement. This type of domestic term deposit scheme allows you to invest for a minimum of five years and a maximum of ten years for less than Rs 2 crore. This system includes a lending facility as well. Additionally, upon maturity, interest benefits are available.
May 2020 saw the launch of the program.
Launched in May 2020, the SBI WeCare Senior Citizen FD Scheme has undergone multiple expansions later. SBI had launched the Special FD Scheme, the objective of which was to provide higher interest to senior citizens on their fixed deposits.
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