SBI WeCare Fixed Deposit: SBI is giving its senior customers an opportunity to invest in the special FD scheme WeCare to earn more profits. In this FD scheme, there is a facility to invest money for two tenures.
New Delhi: State Bank of India is running a special fixed deposit scheme for senior citizens with a higher interest rate. This special FD scheme of SBI can be invested in WeCare till 30 September. Therefore, for investors who want to earn more profits with guaranteed returns, this FD scheme can prove to be a profitable deal.
SBI launched the We Care FD Scheme in September 2022 to provide more benefits to senior citizens during the Kovid epidemic. The last investment date of this scheme was ending on 31 March 2023, but then it has been extended till 30 September 2023. Only senior citizens can invest in this scheme.
Interest rate on SBI Vcare FD scheme
Under the Vcare FD scheme, SBI offers its investors to invest money on two tenures. One, investors can invest money on a tenure of 5 years. Whereas, the second tenure will be of 10 years. According to the SBI website, an interest rate of 7.50 per cent has been offered on both the tenures. The special thing about this fixed deposit scheme is that a loan can also be taken against it.
45 thousand profit on investment of one lakh
If senior citizens invest Rs 1,00,000 in SBI Wecare, then at 7.50 per cent interest rate, on maturity of FD, Rs 44,995 will be received as interest. Whereas, the total return will be Rs 1,44,995
Other FD rates of SBI for senior citizens
SBI gives its customers the opportunity to invest in FDs ranging from 7 days to 10 years tenure. The interest rate on FDs of these tenures ranges from 3.50 per cent to 7.50 per cent. However, senior citizens are given an additional interest rate of 0.50% on all general FD schemes.
