If you are a senior citizen and want to get better returns by investing in Fixed Deposit (FD), then this news is useful for you. Actually, the last date to invest in the ‘SBI WeCare FD’ run by the State Bank of India (SBI) for senior citizens is March 31, 2024. Till this date, you can renew your new FD or matured FD.
In May 2020, the bank launched a term deposit scheme for senior citizens named SBI WeCare. Initially, investments could be made in it only till September 2020, but the bank has extended the deadline of this FD scheme several times.
We care scheme is closing on 31st March-
SBI's WeCare Scheme provides excellent returns to senior citizens. However, only 22 days are left to avail the benefits of this scheme, because this FD scheme is going to close on 31 March 2024.
Opportunity to get 7.50 percent interest-
In this scheme, senior citizens are offered more interest than ordinary investors. Under this scheme, an interest of 7.50 percent is being given on FD of 5 years to 10 years. In this scheme, you can book FD by using net banking or the YONO app or by visiting the branch. Its interest can be received every month, quarter, half year, or annually.
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