SBI closes Amrit Kalash FD SBI Amrit Kalash Fixed Deposit Discontinued – What Are Your Best Choices Now?
The State Bank of India has offically discontinued its much sought Amrit Kalash Fixed Deposit (FD) scheme effective 1st April 2025, with the closing of the limited period FD. This FD offered attractive returns of up to 7.60% annually for a 400-day tenure, making it one of the most popular investment schemes.
Why Was Amrit Kalash FD So Popular?
- High Interest Rates: 7.10% p.a. for general public, 7.60% p.a. for senior citizens.
- Short & Sweet Tenure: 400-day lock-in period better than regular FDs, yielding better returns.
- Exclusive Benefits: Designed for investors looking for high yields at a shorter time.
But it has been discontinued by SBI. There is no need to be anxious, though-institutions have plenty of options for good and high-interest funds.
Latest SBI FD Interest Rates (Updated June 2024)
| Tenure | General Public (%) | Senior Citizens (%) |
|---|---|---|
| 7-45 days | 3.50 | 4.00 |
| 46-179 days | 5.50 | 6.00 |
| 180-210 days | 6.25 | 6.75 |
| 211 days – <1 year | 6.50 | 7.00 |
| 1 year – <2 years | 6.80 | 7.30 |
| 2 years – <3 years | 7.00 | 7.50 |
| 3 years – <5 years | 6.75 | 7.25 |
| 5 years – 10 years | 6.50 | 7.50* |
Best SBI FD Alternatives After Amrit Kalash
SBI Amrit Varsha FD (444 Days) – Available!
- Interest Rate: 7.25% p.a. (General), 7.75% p.a. (Senior Citizens), 7.85% p.a. (Super Senior Citizens – 80+ years).
Key Advantage: Returns higher than that paid by normal FDs, suitable for short-to-medium term investors.
SBI Sanrakshan FD-for Super Senior Citizens (80+ Years)
- Exclusive 10 bps extra over standard senior citizen rates.
- Safety + Higher Returns: Perfect for risk-averse investors seeking stable income.
What Should FD Investors Do Now?
If you missed Amrit Kalash, Amrit Varsha would be a good replacement, or even Sanrakshan FD for better interest.
They also could lock in their exclusive maximum earners with these special interest rates. Secure them before rates go up for further policy changes.