SBI Special Fixed Deposit Scheme: SBI has extended the deadline of Special Fixed Deposit Scheme for Senior Citizens till 30 June 2021.
SBI Special Fixed Deposit Scheme: The country’s largest government bank has given a big gift to senior citizens. The bank has again extended the deadline of special fixed deposit scheme for senior citizens. Now till June 30, under this scheme you will get the benefit of more interest. The bank first announced the ‘Wecare Deposit’ scheme in May 2020 during the outbreak of the corona virus epidemic. Earlier its deadline was till 31 December 2020, which was increased to 31 March 2021. Now it has been increased to 30 June 2021 for the third time. Under this scheme, senior citizens get more than normal FD.
What is ‘Wecare Deposit’ scheme
Under SBI’s special fixed deposit scheme ‘Wecare Deposit’, more interest is being offered to senior citizens on deposits. In this scheme, senior citizens get an additional interest of 0.30 percent on FD. At the same time, SBI is already offering 0.50 percent additional interest to senior citizens on term deposits of all periods. In this way, senior citizens can get an additional interest of 0.80 (0.50 + 0.30) per cent on their FD by availing SBI VCare deposit.
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How much interest on investment till 30 June
In SBI, ordinary citizens have an interest of 5.4 percent per annum on FD. At the same time, senior citizens get 0.50 percent more interest than normal FD. At the same time, if FD under the ‘Wecare Deposit’ scheme, senior citizens will get interest of 0.30 per cent. That is, they will get 6.20 percent interest annually on FD.
What is the specialty of the scheme
- Anyone 60 years of age or older can invest in it.
- This scheme is for a period of 5 years or more.
- If you withdraw before maturity, you will not get the benefit of additional interest.
- Under SBI vcare deposit, the benefit of higher interest will be available on both opening of new FD account or renewal of old FD.
- This scheme of SBI is now open till 30 June 2021.
