State Bank of India (SBI) has extended the deadline to apply for SBI WeCare Special FD. This FD scheme gives high returns to senior citizens for a period of 5 to 10 years.
A few days ago, the country’s central bank RBI has decided not to make any changes in repo rates. After which fixed deposit schemes have got a new lease of life again. Recently IDBI Bank extended the date of its special FD schemes. Now the country’s largest lender SBI has extended the date of its special fixed deposit schemes.
The last date of SBI’s schemes like WeCare and Amrit Kalash has been extended to September 2024. According to experts, at present the policy rate of RBI is at a record level. In such a situation, the benefit of increased interest rates on FD can be availed for a long time. Let us also tell you what kind of decisions SBI has taken regarding its special FD.
Big decision regarding VCare
State Bank of India (SBI) has extended the deadline to apply for SBI WeCare Special FD. This FD scheme gives high returns to senior citizens for a period of 5 to 10 years. SBI WeCare was launched to increase the income and provide security to senior citizens with extra returns. The interest rate offered on SBI WeCare is 7.50 percent. SBI WeCare Scheme was earlier only till March 31, 2024.
Which has been extended to September 30, 2024. This scheme is also available for new deposits and renewal after maturity. Under this scheme, senior citizens get 0.50 percent more interest than FD rates. This means that on normal FD, senior citizens already get 50 basis points more interest than regular customers. Extra 0.50 percent interest is being given on SBI WeCare.
SBI provides so much income to senior citizens
SBI gives 4% to 7.50% returns on FD to senior citizens. Senior citizens get the highest return on FD of 2 to 3 years at 7.50 percent.
SBI Amrit Kalash
On the other hand, SBI has also extended the deadline of its second special FD scheme Amrit Kalash. Earlier the deadline of this scheme was March 31, 2024, which has been extended to September 30, 2024. According to the SBI website, the interest rate of 7.10 percent of the special tenure scheme of 400 days (Amrit Kalash) is applicable from October 1, 2020. Senior citizens get a return of 7.60 percent in this scheme. Now this scheme will remain in force till 30 September 2024.
Read also: SBI FD Rates: The giant bank that revised the deposit rates…..
