New Delh: SBI Wecare Deposit Scheme for Senior Citizens: State Bank of India FD has launched SBI Wecare Deposit Scheme for its senior citizen customers. Under this scheme, senior citizens will get more interest (SBI FD Interest Rates 2020) on SBI Fixed Deposit Scheme. Only people over 60 years will get the benefit of this scheme. In SBI Wecare Deposit, senior citizens are getting additional interest on fixed deposits of 5 or more duration. FD gets an additional 0.30% interest on SBI Wecare Deposit.
Benefits of SBI Wecare Deposit Scheme
Wecare Deposit Scheme has been introduced by SBI for Senior Citizens. The plan offers an additional 30 bps premium interest on deposits (FD) of 5 years or more duration. However, this will be available only on the investment of senior citizens. Explain that this special scheme of SBI will remain in force till September 30, 2020.
Who will get benefits (SBI Wecare Deposit Features)
Under the Wecare Deposit Scheme, senior citizens of 60 years of age and above will get the benefit. Special FD scheme of SBI will be applicable for a period of 5 years or more. The new interest rates will apply to both new deposits and existing deposits. SBI launched this scheme for senior citizens from 12 May 2020. In this, senior citizens will get 6.2% interest if they deposit fixed deposits in special FD scheme. The maximum deposit amount under this scheme can be less than Rs. 2 crores.