India’s largest public sector bank, State Bank of India (SBI), has ended its popular fixed deposit (FD) scheme called Amrit Kalash. This scheme was known for offering good returns in just 400 days.
The last date to invest in this scheme was 31 March 2025, and SBI has now officially withdrawn it from 1 April 2025, as mentioned on its official website.
What Will Happen to Existing Investors?
If you invested in the Amrit Kalash FD scheme before or on 31 March 2025, you don’t need to worry.
You will receive your full investment amount (principal) along with the promised interest when the deposit matures. Your money remains safe and secure.
Key Features of the Amrit Kalash Scheme
Tenure: 400 days (around 1 year and 2 months)
Interest Rates:
7.10% for regular customers
7.60% for senior citizens
(These were 30 basis points higher than normal FD rates)
Eligibility: Open to both Indian residents and NRIs
Investment Limit: For deposits less than ₹2 crore
Interest Payout Options: Monthly, quarterly, or half-yearly
Maturity Benefit: Interest also payable at maturity
Tax: TDS was applicable under the Income Tax Act
Additional Facilities: Loan and premature withdrawal options were available
Background of the Scheme
The Amrit Kalash scheme was launched in April 2023 and extended several times due to high customer interest. However, as of April 2025, it is no longer available for new investments.
