SBI Special FD Scheme: Senior citizens can invest in SBI WeCare scheme till 30 September 2022, in which 0.80 percent more interest is available.
SBI Special FD Scheme For Senior Citizen: The country’s largest government bank SBI has given a gift to the senior citizens. SBI has decided to extend the deadline for senior citizens to invest in special fixed deposits. Now senior citizens can invest in SBI WeCare scheme till 30 September 2022.
Higher interest to senior citizens
According to the SBI website, SBI WeCare Special Scheme, which was started for senior citizens, offers 30 basis points i.e. 0.30 percent additional interest on retail term deposits of 5 years or more. Let us tell you that banks give 50 basis points more interest to senior citizens in the same way. A separate 30 basis points more interest is being given to senior citizens under the SBI WeCare scheme on top of the interest on it. SBI WeCare scheme is being extended till 30 September 2022.
0.80 percent more interest
is available This means that the bank is giving 0.80 percent more interest to the senior citizens under this scheme on term deposits with a tenure of more than 5 years. Offering 5.50 per cent on term deposits of tenure of 5 years or more. But senior citizens will get 6.30 percent interest on the special FD scheme under SBI WeCare.
Let us tell you that the scheme has been running for two years,
SBI had started SBI WeCare Special Deposit Scheme for Senior Citizens in May 2020. The purpose of which was that in this era of low interest rates, senior citizens could be given more interest. The bank has now extended this facility till 30 September.
Who can invest in SBI WeCare
Senior citizens above 60 years of age who are citizens of India can invest in this scheme. NRIs are not allowed to invest under this scheme.
