Special FD: Under the Special FD scheme for State Bank of India Senior Citizens, 50 to 100 basis points more interest will be available.
SBI Special Fixed Deposit: If you want to invest in this scheme of SBI, then now you can invest in SBI’s special FD scheme till June 30. Because State Bank of India has extended the deadline to invest in VCare Senior Citizen Special Fixed Deposit Scheme. SBI started this scheme on 20 May 2020 with the date of investment till September 2020. After this, the last time of investment was extended till 31 March 2023. But now it has been extended till 30 June 2023.
State Bank of India has launched this special FD scheme for senior citizens so that they can take advantage of higher interest rates along with security of their income. Under this scheme, senior citizens will get 50 to 100 basis points more interest than regular FD. For a period of 5 to 10 years, the bank is offering an interest rate of 7.50 per cent. Customers can book this FD through bank branches, internet banking or YONO.
Interest will be more than 7.50 percent
The aim of SBI is to protect the income of senior citizens through this special FD scheme. The bank is offering interest rates ranging from 3.5 per cent for a tenure of 7 to 45 days to over 7.50 per cent for a tenure of 5 to 10 years. By investing in this FD scheme, customers can also avail the facility of loan. However, he will have to pay TDS on his income as per the rules of the Income Tax Department.
Will get more return on investment for a long time
By investing in SBI’s special FD scheme, only those people will get the benefit of higher interest rates. Those who come under the purview of senior citizens. If you invest in this FD scheme for a long time, you can get good returns with higher interest rates. You can get more information about this scheme by visiting the official website of SBI. Along with this, you can also check the interest rates available on FD.
