SBI is telling good news to customers. The latest ‘SBI Weekere’ deadline has been extended to June 30. So these services can also be used. It is learned that the State Bank of India has introduced a term deposit scheme in May 2020 specifically for the elderly in view of the corona virus crisis.
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However, the deadline was first extended to September and then extended to March 31, 2021. Now another OK deadline has been raised. Senior citizens can deposit under the ‘SBI Weeker’ scheme as they have another three months to deposit under this scheme.
Depositing in this scheme earns 50 basis points or half a per cent more interest for the elderly. Must be over 60 years of age to make a deposit. Husbands and wives can open a single account or a joint account. A minimum deposit of Rs.1,000 to a maximum of Rs.15,00,000 can be made.
The first is to deposit for five years. It can be extended for another three years after that. If the money is withdrawn before the age of five, the interest will be forfeited. Senior citizens can get 6.20 per cent interest on deposits under the ‘SBI Weekere’ scheme. This interest rate is applicable only for five year fixed deposits. So there is time until June 30, 2021 to take advantage of this opportunity.
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