Bank FD New Update: Under this special scheme of SBI, strong interest is being given on the tenure of 5-10 years. The rates are 7.50 percent. Which is 0.50 more than other FDs.
Bank FD: State Bank of India (SBI), India’s largest public sector bank, is currently running a special FD scheme for senior citizens. The name of the scheme is “SBI We Care Scheme”. If you are planning to save then this scheme can help you.
About the scheme
Under the scheme, strong interest is being given on the tenure of 5-10 years. The rates are 7.50 percent. Which is 0.50 more than other FDs. Let us tell you that the bank is currently offering interest ranging from 3.50 percent to 7.50 percent to senior citizens on fixed deposits of 7 days to 10 years. The minimum investment period is 5 years and maximum 10 years.
When can you avail benefits?
Any Indian citizen of 60 years of age or above can avail the benefits of the scheme. This scheme was started in the year 2022. Senior citizens can avail this benefit till 30th September. After this the plan can be closed. Let us tell you that the Wecare scheme was going to close on June 30. But the bank decided to extend it till 30 September.
Bank FD interest rates
SBI is currently offering 7.30% interest on FDs of one year to two years, 7.50% on FDs of 2 years and less than 3 years and 7% on FDs of 3 years-less than 5 years.
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