SBI WECARE: State Bank of India (SBI) has extended its ‘WeCare’ special deposit scheme till June 30, 2023. Earlier this scheme was ending on March 31, 2023.
New Delhi. There is news of relief for senior citizens. In fact, the country’s largest bank State Bank of India (SBI) has once again extended the last date of its ongoing special FD scheme (SBI Special FD Scheme) for senior citizens. The date of investment in Wecare scheme (SBI WECARE) has been extended by 3 months to June 30, 2023. Senior citizens will get more interest in this scheme.
Earlier this scheme was ending on 31 March. SBI WeCare is an FD program for senior citizens. It was launched in May 2020. The bank has repeatedly extended this FD scheme and now the bank has once again extended the deadline.
Opportunity to get 7.50 percent interest
According to SBI’s website, senior citizens will get an additional interest of 0.50 percent. Under the scheme, 7.50 percent interest is being received on FDs of 5 years to 10 years. In this scheme, you can book FD using netbanking or Yono app or by visiting the branch. Its interest can be received every month, quarter, half year or annually. Later interest on FD will be available after deducting TDS.
Banks increased interest due to increase in repo rate
Let us tell you that after increasing the repo rate of RBI, most of the banks have increased the interest on FD. From May 2022 till now, RBI has increased the repo rate by 2.50 percent. It is now being speculated that RBI may once again increase the interest rates on 6th April.
SBI FD Rates
- Common customers will get 3 percent to 7.1 percent interest on SBI’s FD between 7 days and 10 years. At the same time, senior citizens get 0.50 percent more interest on all FDs.
- 7 days to 45 days – 3.0%
- 46 days to 179 days – 4.5%
- 180 days to 210 days – 5.25%
- 211 days to less than 1 year – 5.75%
- 1 year to less than 2 years – 6.8 percent
- 400 days (Amrit Kalash FD Scheme) – 7.10%
- 2 years to less than 3 years – 7.00%
- 3 years to less than 5 years – 6.5 per cent
- 5 years and up to 10 years – 6.5 per cent
