SBI Wecare Senior Citizen FD Scheme: The country’s largest government bank SBI (State Bank of India) has given a big gift to crores of customers. The bank has extended the deadline of Wecare (SBI Wecare) Senior Citizen FD Scheme.
SBI Wecare Senior Citizen FD Scheme: The country’s largest government bank SBI (State Bank of India) has given a big gift to crores of customers. The bank has extended the deadline of Wecare (SBI Wecare) Senior Citizen FD Scheme. Now customers will continue to get the benefits of this scheme till 31 March 2024.
From the bank side, customers will get the benefit of higher interest in this scheme as compared to normal FD. State Bank of India had extended the special FD scheme for senior citizens several times before.
The scheme was launched in May 2020
SBI WeCare Senior Citizen FD Scheme was launched in May 2020 and its last date at that time was September 2020, which has been extended several times since then. SBI had launched the Special FD Scheme, the objective of which was to provide higher interest to senior citizens on their fixed deposits.
Interest is available on monthly or quarterly basis
Senior citizens get the benefit of 30 bps interest on this scheme (more than the current premium of 50 bps). For fixed deposits, interest is paid at monthly/quarterly intervals.
What is the specialty of this scheme-
>> SBI V-Care FD was launched especially for senior citizens.
>> In SBI Wecare Scheme you can make term fixed deposit for 5 to 10 years.
>> In SBI’s V-Care FD, the bank gives annual interest up to 7.5 percent.
>> Apart from this, SBI senior citizens get 0.50 percent more interest than the regular interest in normal FD.
>> Its duration ranges from 7 days to 10 years.