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SBI Bank: SBI Bank has given a gift to crores of its customers. State Bank of India (SBI) has extended the deadline to apply for SBI WeCare. This scheme of SBI offers higher interest to senior citizens on investments for a period of 5 to 10 years. SBI WeCare was launched especially for senior citizens. Earlier the deadline for investing in this scheme of SBI was 31 March 2024, which has now been extended to 30 September 2024.

SBI Wecare - Interest Rate

The interest rate offered on SBI WeCare is 7.50%. SBI is offering the best interest to its customers on its WeCare FD. The bank gives 0.50 more interest on any FD to senior citizens than a normal customer. SBI Wecare is getting 7.50% interest.

SBI Wecare FD Scheme – You can invest till 30th September

Recently, the deadline for investment in the SBI WeCare FD scheme was 31 March 2024, which has been extended to 30 September 2024. That is, customers will get 6 more months to invest in it.

You can invest for 10 years

Investments under the scheme are made for a minimum of 5 years and a maximum of 10 years. These rates will be available on new and renewable FDs.

SBI is giving so much interest in regular FD

SBI's regular FD interest rates range between 3.50% and 7.50% for periods ranging from 7 days to 10 years. According to the rules of Income Tax, TDS is deducted from it. Investors can submit Form 15H/15G for exemption from tax deduction as per IT rules. SBI WeCare Special FD Scheme was started as an option for senior citizens to keep their money safe during the Covid times. This FD scheme is the FD scheme that gives the highest interest to the people.