SBI’s millions of customers a big shock! Scheme that makes people ‘rich’ in 400 days

State Bank of India (SBI), the country’s largest public sector bank, has given a big blow to its crores of customers. The bank has stopped plans to become rich in 400 days. State Bank of India has closed its special term deposit (FB) scheme ‘Amrit Kalash’. The last date for investment in Amrit Kalash Yojana was 31 March 2025. Now SBI has closed it. According to SBI Bank’s website, the bank has closed the Amrit Kalash Yojana since 1 April 2025. Know what will happen to your FD if you apply on 31 March 2025.

What about those taking Amrit Kalash FD scheme?
Investors who have invested in SBI’s Amrit Kalash Yojana by 31 March 2025 will get interest and original amount on maturity. Investors of Amrit Kalash Yojana do not need to worry. Their money and interest is completely safe.

About Amrit Kalash Yojana
Amrit Kalash FD Scheme was a great savings scheme in which customers had to invest for only 400 days. The plan lasted for about one year and two months. However, it cannot be invested now as the bank has withdrawn the scheme. The last date for investing in ‘Amrit Kalash’, a special term deposit scheme of State Bank of India, was 31 March 2025. The scheme was launched in April 2023 and its time limit was extended due to customers’ interest.

What was the special feature of Amrit Kalash FD scheme?

Duration – 400 days

General customers were getting 7.10% and senior citizens were getting 7.60% interest. These rates were 30 basis points higher than regular FD schemes. The scheme was open to both domestic Indians and non -resident Indians. This was applicable to fixed deposits of less than Rs 2 crore. Customers can get interest on monthly, quarterly or semi-annual basis. Interest on special fixed deposits was given on maturity. TDS was deducted according to the Income Tax Act in this scheme. There was also a provision of loan facilities and early withdrawal in this scheme.