The fixed deposit (FD) has been a go-to investment source for Indians seeking capital security coupled with steady returns. However, in competitive banking sector, banks regularly launch some special term deposit scheme with slightly better interest rate for the target saving drive. SBI Amrit Kalash Scheme is one of them.
If you are someone who is still thinking whether to go along with Amrit Kalash SBI or proceed with normal FD, then this post will help out! Get ready for it — A detailed guide by CoinDCX News on the differences, benefits, and limitations so you can decide what’s good for your money.
Table of Contents
What is the SBI Amrit Kalash Scheme?
The SBI Amrit Kalash Scheme is a special fixed deposit plan introduced by the State Bank of India.
- Tenure: 400 days
- Interest Rates: Higher than regular SBI fixed deposits
- Eligibility: Open to both new customers and existing SBI account holders
- Special Feature: Slightly higher rates for senior citizens
The SBI Amrit Kalash Scheme lasts for some time, now this scheme is being launched by SBI and you are thinking that when we should apply in them. If you miss it, you will not be able to get this price again.
Amrit Kalash SBI Interest Rate
The Amrit Kalash SBI interest rate currently stands at:
- Regular Citizens: Around 7.10% per annum
- Senior Citizens: Around 7.60% per annum
This rate is slightly higher than what SBI offers for standard fixed deposits of similar tenure.
Regular SBI Fixed Deposits – A Quick Overview
Regular FDs in SBI come with multiple tenure options ranging from 7 days to 10 years.
- Interest Rates: Generally between 3% and 7% depending on tenure and age group.
- Flexibility: More choices in duration.
- Premature Withdrawal: Allowed (with penalty).
SBI Amrit Kalash Scheme vs Regular FD – Detailed Comparison
| Feature | SBI Amrit Kalash Scheme | Regular SBI FD |
| Tenure | 400 days | 7 days to 10 years |
| Interest Rate (General) | ~7.10% | 3% – 7% |
| Interest Rate (Senior Citizens) | ~7.60% | 3.50% – 7.50% |
| Scheme Duration | Limited-time offer | Available year-round |
| Liquidity | Premature withdrawal allowed (with penalty) | Premature withdrawal allowed (with penalty) |
| Best For | Those seeking short-term higher returns | Those wanting flexibility in tenure |
Advantages of SBI Amrit Kalash Scheme
- Higher Returns Than Regular FD – The extra 0.10–0.20% interest might seem small but adds up for larger deposits.
- Short-Term Investment – Ideal for those who want better returns without locking in for too long.
- Senior Citizen Benefit – Senior citizens enjoy one of the highest FD rates SBI offers.
Limitations of SBI Amrit Kalash Scheme
- Fixed Tenure Only – You cannot choose a different duration; it’s strictly 400 days.
- Limited Period Offer – If you miss the SBI Amrit Kalash Scheme last date, you lose the opportunity.
- Rate Changes Possible – The interest rate is subject to change for future deposits.
Advantages of Regular SBI FD
- Flexibility in Tenure – You can choose anywhere from a week to 10 years.
- Stable Option – Regular FDs are always available; no deadline pressure.
- Multiple Payout Options – Monthly, quarterly, or cumulative interest payouts.
Which One Should You Choose?
- Choose SBI Amrit Kalash Scheme if:
- You have surplus funds for 400 days.
- You want slightly higher returns than a regular FD.
- You are a senior citizen looking for better rates.
- You have surplus funds for 400 days.
- Choose Regular FD if:
- You need flexible tenure options.
- You don’t want to be bound by a limited-time scheme.
- You may need to invest for a longer period than 400 days.
- You need flexible tenure options.
Tax Implications – SBI Amrit Kalash Scheme vs Regular FD
- Taxation: Both are taxed as per your income slab under “Income from Other Sources.”
- TDS: Deducted if annual interest exceeds ₹40,000 (₹50,000 for senior citizens).
- Tax-Saving Option: Only regular FDs with a 5-year lock-in qualify for tax deduction under Section 80C, not the Amrit Kalash Scheme.
Premature Withdrawal & Loan Facility
Amrit Kalash SBI and regular FD give the facility of premature withdrawal; however, a meager penalty (normally 0.50% to 1%) is charged. They also provide you a loan against both the type of deposits which help you in case, if there are financial emergency.
CoinDCX News Verdict
The SBI Amrit Kalash Scheme is an attractive choice for investors who:
- Want a short-term high-return FD.
- Can invest before the SBI Amrit Kalash Scheme last date.
- Prefer guaranteed returns with minimal risk.
However, if you need flexibility or a long-term plan, regular SBI FDs remain a better choice.
FAQs – SBI Amrit Kalash Scheme vs Regular FD
Q1. What is the SBI Amrit Kalash Scheme?
It’s a special 400-day fixed deposit by SBI offering higher interest rates than regular FDs.
Q2. What is the SBI Amrit Kalash Scheme last date?
The scheme is available for a limited time, and the last date is announced periodically by SBI.
Q3. What is the Amrit Kalash SBI interest rate?
Around 7.10% for regular citizens and 7.60% for senior citizens.
Q4. Can I invest in SBI Amrit Kalash Scheme online?
Yes, through SBI’s internet banking and YONO app.
Q5. Who can open an SBI Amrit Kalash FD?
Both existing and new SBI customers can open it.
Q6. Can NRIs invest in Amrit Kalash SBI?
Yes, but only through NRO accounts.
Q7. Is premature withdrawal allowed?
Yes, but with applicable penalty charges.
Q8. How is SBI Amrit Kalash Scheme better than a regular FD?
It offers higher interest rates for the same low risk.
Q9. Does the Amrit Kalash Scheme have a tax-saving benefit?
No, it doesn’t qualify for Section 80C tax deduction.
Q10. What happens if I miss the SBI Amrit Kalash Scheme last date?
You can still invest in a regular FD, but at standard interest rates.