SBI Big Gift for Senior Citizens: Earn ₹7,600 Interest on ₹1 Lakh FD in 400 Days
If you are thinking of investing your savings safely while earning good returns, the State Bank of India (SBI) has an ideal option for you. The bank has introduced a special term deposit plan called the SBI Amrit Kalash Fixed Deposit Scheme. This scheme combines security, attractive interest rates, and a limited-time opportunity for both regular and senior citizen investors.
Overview of SBI Amrit Kalash FD Scheme
The SBI Amrit Kalash FD is a unique deposit plan that offers a fixed tenure of 400 days. Investors can benefit from higher interest rates compared to standard FDs. This plan is open for investment until October 31, 2025, giving individuals ample time to take advantage of this offer.
Under this scheme, the interest rate is 7.10% per annum for regular customers and 7.60% per annum for senior citizens. This makes it one of the most rewarding and stable short-term investment options available in the current market.
Why the Scheme Appeals to Investors
What makes this plan attractive is its balance between safety and consistent income. Unlike mutual funds or equities, bank fixed deposits do not depend on market volatility. The capital remains protected, and the returns are guaranteed.
Senior citizens benefit even more, as SBI provides an additional 0.50% interest over the standard rate. For retirees, this translates into steady income without exposure to financial risks, making it ideal for monthly or quarterly earnings.
Interest Example on ₹1,00,000 Investment
If a regular investor deposits ₹1,00,000 in the Amrit Kalash FD for 400 days at 7.10%, the maturity amount becomes approximately ₹1,07,100. This means a total gain of ₹7,100.
A senior citizen, investing the same amount at 7.60%, would receive nearly ₹1,07,600 at maturity earning ₹7,600 as interest.
This small difference in rates results in a noticeable benefit for senior depositors.
Returns on ₹10,00,000 Investment
For higher deposits, the advantage becomes more significant.
At a 7.10% interest rate, a ₹10,00,000 investment yields roughly ₹5,916 in monthly interest.
Meanwhile, a senior citizen at 7.60% earns about ₹6,333 per month.
This consistent income can serve as a reliable source for meeting day-to-day needs, especially for retirees who prefer stable, risk-free earnings.
Interest Payment Options
SBI provides multiple payout frequencies to match different financial needs. Investors can opt to receive their interest monthly, quarterly, half-yearly, or at maturity. Those seeking regular income can choose the monthly or quarterly mode, while others can let their interest compound until the end of the term.
It’s also important to note that TDS (Tax Deducted at Source) applies to the interest earned. However, senior citizens can submit Form 15H to avoid TDS if their total income falls below the taxable limit.
How to Open an Amrit Kalash FD
Opening an FD under this scheme is easy and can be done through both online and offline channels.
- Online Option: Log in to SBI Net Banking or the YONO mobile app. The process is completely digital and requires minimal documentation.
- Offline Option: Visit any SBI branch, where bank officials will assist in account opening, interest selection, and deposit confirmation.
Since the scheme is available only until October 31, 2025, interested investors should apply before the deadline.
Comparison Table: SBI Amrit Kalash FD Scheme Details
| Particulars | Regular Customers | Senior Citizens |
|---|---|---|
| Tenure | 400 days | 400 days |
| Interest Rate | 7.10% per annum | 7.60% per annum |
| Minimum Deposit | ₹1,000 | ₹1,000 |
| Maximum Deposit | No upper limit | No upper limit |
| Monthly Interest (on ₹10 lakh) | ₹5,916 | ₹6,333 |
| Maturity Amount (on ₹1 lakh) | ₹1,07,100 | ₹1,07,600 |
| Last Date to Invest | October 31, 2025 | October 31, 2025 |
| Premature Withdrawal | Permitted as per bank rules | Permitted as per bank rules |
Important Points Before Investing
- Always review the scheme’s full terms, including premature withdrawal conditions and tax implications.
- Evaluate your overall investment goals to ensure this FD fits your financial plan.
- Although FDs are risk-free, they may yield lower returns compared to mutual funds or bonds consider diversifying your portfolio.
- Senior citizens can maximize benefits by selecting monthly or quarterly payout options for regular income.
Conclusion
The SBI Amrit Kalash Fixed Deposit Scheme offers a winning combination of safety, reliability, and attractive returns. With interest rates of 7.10% for regular investors and 7.60% for senior citizens, it serves as a great short-term investment opportunity with a tenure of just 400 days.
Available only until October 31, 2025, this plan gives both new and existing investors a chance to secure higher returns with minimal effort. For anyone looking for a guaranteed return without worrying about market risks, this FD scheme from SBI is a smart and timely choice.
Disclaimer
The information provided here is for educational purposes only and should not be treated as financial advice. Interest rates, tax implications, and scheme terms are subject to change as per SBI and government regulations. Always verify details with your bank before investing.
