Use this SBI Amrit Kalash Deposit Calculator to calculate your SBI Amrit Kalash Maturity amount.
SBI Amrit Kalash Deposit Calculator
Maturity Amount: ₹0.00
What is a SBI Amrit Kalash Deposit Calculator?
SBI Amrit Kalash Deposit Calculator is an online finance calculator which helps you to calculate your SBI Amrit Maturity amount based on your principal amount.
The SBI Amrit Kalash scheme offers a fixed deposit with a tenure of 400 days, providing an interest rate of 7.10% per annum for regular customers and 7.60% per annum for senior citizens.
This scheme is applicable for new and renewal of existing deposits. One can apply for this FD through visiting a SBI Branch, Internet Banking, or the YONO mobile app.
The aim of this scheme is to provide an higher interest than the standard rate of 6.80% for FDs with similar tenures of 1 year to less than 2 years.
Note: As of Nov 2024, State Bank of India (SBI) has extended its Amrit Kalash Deposit Scheme until March 31, 2025.
How to Use the SBI Amrit Kalash Deposit Calculator?
- Visit the SBI Amrit Kalash Deposit Calculator page
- Now, enter the principal amount in rupees
- Then, select the customer type from the dropdown menu - Regular Customers or Senior Citizen Customers
- After that, select the interest payment method from the dropdown menu
- Click on the 'Calculate' button to calculate your maturity amount
SBI Amrit Kalash Interest Rates
| Customer Type | Interest Rates |
|---|---|
| Regular | 7.10% per annum |
| Senior Citizens | 7.60% per annum |
How to Calculate the Maturity Amount?
The following compound interest formula is used to calculate the SBI Kalash Maturity amount:
A = P x (1 + r/n)n x t
Where,
- A is the maturity amount
- P is the principal amount in rupees
- r is the annual interest rate
- n is the number of times interest is compounded per year (monthly = 12, quartely = 4, half yearly = 2)
- t is the time in years
Reference
- SBI Amrit Kalash Scheme Interest Rates Retrieved from "Retail Domestic term deposits - Interest Rates"
- SBI Extends Fixed Deposit Scheme Retrieved from "SBI extends Fixed Deposit schemes: How they stack up versus other PSBs | Personal Finance - Business Standard"