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Fixed Deposit Vs Home Loan; Punjab National Bank Scheme And SBI WeCare, Check Features & Benefits

On September 30, Punjab National Bank’s special home loan scheme and SBI’s ‘WeCare’ special deposit scheme are ending.

In such a situation, if you want a loan at a low interest rate or want a high interest on fixed deposits, then you can take advantage of these schemes.

Today we are telling you about these two schemes…

SBI’s ‘WeCare’ scheme

SBI has launched a new deposit scheme for senior citizens named SBI Wecare. Senior citizens are getting more interest in this. In this scheme, additional premium interest of 30 basis points will be available on FDs of 5 years or more.

Senior citizens will get 0.50% more interest than the general public on retail term deposits of less than 5 years. In such a situation, under this scheme, 0.80% interest will be available on FDs of 5 years or more, including an additional 0.30%. That is, if you invest under this scheme for 5 years now, then you will get 6.20% interest. Click here for more information

What is the benefit of investing 1 lakh rupees in it for 5 years?

‘Wecare’ scheme Usually for senior citizens, after 30 September
Rate of interest 6.20% 5.90%
How much will you get after 5 years 1.35 lakh 1.33 lakh


Punjab National Bank Waived Processing Fee

Punjab National Bank came up with a special offer for its customers on the occasion of 75th Independence Day. Under this offer, it has been decided not to charge processing fees and documentation charges on home loans till September 30. The bank is offering home loan at 6.80% interest rate. In such a situation, if you are planning to take a home loan, then to take advantage of this offer of PNB, you have to apply by 30 September.

How much will be the benefit?

Suppose if you take a loan of Rs 10 lakh, then you will have to pay 0.50% of it as processing fee and documentation charge at the end of this scheme, i.e. Rs 5 thousand on 10 lakhs, but if you take a loan of Rs 10 lakh on or before 30 September. If you apply then you will save 5 thousand rupees.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @
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