India’s largest public sector bank, the State Bank of India (SBI), has officially ended its popular fixed deposit (FD) scheme, Amrit Kalash.
This special scheme was known for offering attractive returns over a short period of 400 days.
The last date to invest in the Amrit Kalash scheme was 31 March 2025. From 1 April 2025, SBI has removed the scheme, as confirmed on its official website.
What About Existing Investors?
If you invested in the scheme on or before 31 March 2025, there’s no need to worry.
You will still receive:
Your full investment amount (principal)
The promised interest when the deposit matures
Your investment remains safe and secure.
Key Details of the Amrit Kalash Scheme
Tenure: 400 days (about 1 year and 2 months)
Interest Rates
7.10% for regular customers
7.60% for senior citizens
(These rates were 30 basis points higher than regular FD rates)
Who Could Invest
Indian residents
Non-Resident Indians (NRIs)
Investment Limit: Less than ₹2 crore
Interest Payout Options: Monthly, quarterly, or half-yearly
Maturity Benefit: Interest could also be paid at the end of the tenure
Tax: TDS (Tax Deducted at Source) applied under Income Tax rules
Other Facilities: Loan facility and premature withdrawal options were available
Background of the Scheme
The Amrit Kalash FD scheme was first launched in April 2023. Due to strong customer demand, it was extended several times. However, starting April 2025, it is no longer open for new investments.
