Fixed Deposit: If you also want to invest in high interest FD ie Fixed Deposit, then definitely read this news.
Fixed Deposit: Fixed deposits have been one of the safest investment options over the years. Banks keep changing the Fixed Deposit Interest Rate from time to time. Meanwhile, many banks also run their special FD schemes for some people. if you too
This scheme is going to end
This is the last month to apply for SBI WeCare, the special senior citizen scheme of State Bank of India (SBI). This scheme offers a higher interest rate to senior citizens for a tenure between 5 years to 10 years. The objective of this special FD is to protect the income of senior citizens by providing additional interest on their fixed deposits. It was introduced in the year 2020.
This will be more profit (FD interest rate)
According to the SBI website, at present the bank gives an additional premium of 50 bps to senior citizens investing in FD and in this SBI WeCare scheme, senior citizens get the benefit of another 50 bps. In such a situation, you get a total of 100 bps more interest than ordinary citizens. Interest rates on regular fixed deposits range between 3.50 per cent and 7.50 per cent for tenures ranging from 7 days to 10 years.
When is the last date to invest in SBI WeCare?
SBI WeCare Scheme has been extended till 30 September 2023. This scheme is available on new deposits and renewal of maturing deposits.
Special FD of other banks for senior citizens
ICICI Bank Golden Years FD – The bank offers an additional premium of 0.10 per cent over the existing 0.50 per cent premium for a tenure of more than 5 years. The interest rate given under the scheme is 7.50 percent.
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