The Amrit Kalash scheme offers competitive interest rates, with citizens benefiting from a rate of 7.10%, while senior citizens enjoy an even higher rate of 7.60%. Notably, this scheme is available to both domestic investors and Non-Resident Indians (NRIs) alike, making it an attractive option for a wide spectrum of individuals.
With an upper investment limit capped at Rs 2 crore, the scheme's maturity period of 400 days ensures that investors receive their principal sum along with accrued interest at the end of this period.
Initially relaunched in India in April 2023 for a limited duration, the scheme has witnessed overwhelming interest, prompting repeated deadline extensions to accommodate investor demand.
SBI Amrit Kalash: Steps to Follow
The investment can be made either in online or offline mode.
For online investment use the SBI YONO app, while for the offline mode, visit the bank and do the needful.
The scheme also gives the facility of pre-mature withdrawal and loan. In short, a policyholder can withdraw his money before maturity.
WECARE Scheme - Another Offering for Welfare
In addition to the Amrit Kalash scheme, SBI introduced the WECARE scheme aimed at promoting the welfare of citizens. This scheme specifically caters to senior citizens, offering attractive returns ranging from 7.5% for a tenure of 5 to 10 years.
Similar to the Amrit Kalash scheme, the WECARE scheme's deadline has also been extended until March 31, 2024, providing interested investors an extended window to benefit from its high returns.
Exceptional Benefits and Options
Both schemes, Amrit Kalash and WECARE, offer exceptional benefits and attractive interest rates, providing investors with viable options to diversify their portfolios and secure substantial returns. With these extended deadlines, individuals have an extended opportunity to capitalize on these offerings and secure their financial future.
Investors are encouraged to explore these schemes and make informed investment decisions before the extended deadlines lapse on March 31, 2024.
