When it comes to safe and reliable investment options, Fixed Deposits (FDs) are a go-to choice for millions of Indians. And one of the most popular FD schemes currently grabbing attention is the SBI Amrit Kalash FD Scheme. But how much interest will you actually earn if you invest ₹1,00,000 in this special 400-day FD? Let’s break it down in simple terms, so anyone from a student to a financial professional can easily understand.
In this detailed guide, we’ll cover everything about the SBI Amrit Kalash FD, including the latest interest rates, maturity amounts, eligibility, benefits, and a step-by-step breakdown of how much you can earn. Whether you’re a new investor or an experienced one, this article has valuable insights to help you make informed financial decisions.
SBI Amrit Kalash FD Scheme
| Feature | Details |
|---|---|
| Scheme Name | SBI Amrit Kalash FD Scheme |
| Tenure | 400 days |
| Interest Rate (General) | 7.10% p.a. |
| Interest Rate (Senior Citizens) | 7.60% p.a. |
| Minimum Investment | ₹1,000 |
| Maximum Investment | No upper limit |
| Maturity Amount (₹1 Lakh – General) | Approx. ₹1,07,781 (Interest Earned: ₹7,781) |
| Maturity Amount (₹1 Lakh – Senior Citizen) | Approx. ₹1,08,324 (Interest Earned: ₹8,324) |
| Premature Withdrawal | Allowed (with penalty) |
| Loan Facility | Available against FD |
| Scheme Validity | Extended till March 31, 2025 |
| Official Link | SBI Official |
The SBI Amrit Kalash FD scheme is a fantastic choice for anyone seeking a short-term, secure investment with higher returns. Investing ₹1,00,000 can comfortably earn you over ₹7,700 in just over a year, making it an excellent addition to your financial portfolio.
What is SBI Amrit Kalash FD?
The SBI Amrit Kalash FD is a special fixed deposit scheme launched by the State Bank of India (SBI) to offer attractive returns over a specific period of 400 days. It is designed for individuals looking for a short-term yet high-interest deposit option without risking their capital.
What makes this scheme stand out is its 7.10% p.a. interest rate for regular investors and an even better 7.60% p.a. for senior citizens, significantly higher than many standard FDs.
Why the 400-Day Tenure?
The 400-day tenure is neither too short like a one-year FD nor too long like a five-year plan. It strikes a balance, giving investors quick liquidity and good returns. SBI introduced this scheme during the Amrit Mahotsav celebration and decided to extend it due to popular demand.
see also: Where Will Senior Citizens Get the Highest Returns on FD?
How Much Interest Will You Earn on ₹1,00,000 Investment?
Let’s do the math clearly.
For General Citizens:
- Principal Amount: ₹1,00,000
- Interest Rate: 7.10% p.a.
- Tenure: 400 days (approx. 13 months)
- Interest Earned: ₹7,781 (approximate)
- Maturity Amount: ₹1,07,781
For Senior Citizens:
- Principal Amount: ₹1,00,000
- Interest Rate: 7.60% p.a.
- Tenure: 400 days
- Interest Earned: ₹8,324 (approximate)
- Maturity Amount: ₹1,08,324
Note: The interest is compounded quarterly, which is standard practice in Indian banks.
This means by investing ₹1 lakh, you can earn nearly ₹8,000 extra in just over a year with almost no risk. Not bad for a secure investment, right?
Benefits of SBI Amrit Kalash FD Scheme
1. Attractive Interest Rates
Higher than normal FD rates, giving you better returns.
2. Short & Fixed Tenure
Perfect for those looking to invest for a little over a year with a clear end date.
3. Flexibility for Senior Citizens
Senior citizens enjoy an additional 0.50% rate hike, which is a great financial cushion.
4. Premature Withdrawal Option
Need money early? No worries. You can withdraw prematurely (though with a small penalty).
5. Loan Facility
If you need cash, you can take a loan against this FD without breaking it.
Eligibility Criteria & How to Open SBI Amrit Kalash FD
Eligibility:
- Resident Indians
- NRIs through NRE/NRO accounts (conditions apply)
- Individuals & Senior Citizens
- Minors (through guardianship)
Documents Required:
- PAN Card
- Aadhaar Card
- SBI Account Details
- Address Proof
How to Open:
- Visit your nearest SBI branch or log in to your SBI YONO app / Online SBI Net Banking.
- Select ‘e-TDR/e-STDR (FD)’ option.
- Choose the Amrit Kalash 400 Days Scheme.
- Enter your deposit amount and tenure.
- Confirm and submit!
Done! Your FD will be created within minutes.
Tax Implications on SBI Amrit Kalash FD
It’s important to know that interest earned on FDs is taxable. SBI will deduct TDS (Tax Deducted at Source) at:
- 10% rate if PAN is submitted.
- 20% rate if PAN is NOT submitted.
However, if your total income is below taxable limits, you can submit Form 15G/15H to avoid TDS deduction.
Is SBI Amrit Kalash FD Scheme Worth It?
Absolutely! If you’re looking for:
- Safety: SBI is India’s largest, most trusted bank.
- Decent Returns: 7.10%-7.60% in the current market is highly competitive.
- Flexibility: Premature withdrawal & loan facility make it easy to manage your funds.
It’s a solid choice, especially if you’re risk-averse and want a guaranteed return on investment.
see also: People are investing heavily in these schemes of LIC and Post Office, know which is the best?
SBI Amrit Kalash FAQs
Q1. What is the last date to invest in SBI Amrit Kalash FD?
SBI has extended the scheme till March 31, 2025.
Q2. Is there any maximum limit on investment?
No, there is no maximum limit. You can invest as much as you like.
Q3. Can NRIs invest in SBI Amrit Kalash FD?
Yes, NRIs can invest through NRE/NRO accounts, subject to terms.
Q4. Can I break the FD before maturity?
Yes, but premature withdrawal attracts a small penalty.
Q5. Is SBI Amrit Kalash FD better than regular SBI FDs?
Yes, it offers higher interest rates than standard SBI fixed deposits.
