The name of this scheme of SBI is SBI We Care. This special fixed deposit scheme is for March 2021. SBI launched the scheme for senior citizens in May 2020.
Extra interest is also available on depositing money in State Bank of India (SBI), the country’s largest government bank. This interest accrues to a particular class. Let’s know about the scheme of SBI.
SBI Scheme: The name of this scheme of SBI is SBI We Care. This special fixed deposit scheme is for March 2021. SBI launched the scheme for Senior Citizens in May 2020. Under this, senior citizens are being given an additional interest of 0.30 per cent over the interest rate applicable to them in case of retail deposits of 5 years or more.
Let us tell you that SBI offers senior citizens an additional interest of 0.50 per cent on FD, above the regular interest rate fixed for others. That is, senior citizens can get extra interest by adding this 0.50 percent and additional 0.30 percent interest rate.
Home loan business crosses Rs 5 lakh crore: SBI said on Wednesday that its home loan business has crossed the Rs 5 lakh crore mark. The real estate and housing business unit of the bank has grown five-fold in the last 10 years. The assets under management of the unit were Rs 89,000 crore in 2011, which increased to Rs 5 lakh crore in 2021.
The bank ventured into the Home Loan business in 2004. The total portfolio at that time was Rs 17,000 crore. A separate real estate and housing business came into existence in 2012 with a portfolio of Rs 1 lakh crore.
HDFC overtakes in loan disbursement: Last year, the government announced an emergency credit line guarantee scheme (ECLGS) of Rs 3 lakh crore as part of the self-reliance campaign. Under this, banks provide loans to MSME.
HDFC has left SBI behind in disbursing this loan. HDFC Bank has disbursed a loan of 23504 crore till 25 January 2021, while SBI has disbursed a loan of only 18700 crore.
