SBI Extends Its Special FD Scheme For Senior Citizens

The bank said that on FDs maturing in 7 days to 10 years, the benefit of interest ranging from 2.90 per cent to 5.65 per cent is being given

State Bank of India (SBI) has once again extended the SBI Special FD Scheme till March 2023. SBI ‘WeCare’ scheme was started for senior citizens by the bank in May 2020 during the covid period. Earlier this scheme was started till September 2020, but now it has been extended several times by the bank.

On investing in this scheme, the bank pays 30 basis points additional interest to senior citizens on their retail FDs on their retail FDs with a tenure of 5 years and above, 50 basis points more than the general interest. SBI has written in its website that the “SBI WeCare” deposit scheme has been extended till March 31, 2023.

The bank said that on FDs maturing in 7 days to 10 years, the benefit of interest ranging from 2.90 per cent to 5.65 per cent is being given. At the same time, senior citizens are getting interest ranging from 3.40 per cent to 6.45 per cent. The bank had changed its interest rates on 13 August 2022.

To commemorate the country’s 75th Independence Day, the country’s largest lender had also launched a limited edition brand new term deposit program named “Utsav Deposit”. Starting from August 15, 2022, this fixed deposit will get an interest rate of 6.1 per cent. This deal is available for 75 days only or till 30 October 2022.