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SBI extends the investment period in the Wicare Fixed Deposit scheme There is good news for those who are thinking of doing FD in the country's largest bank. The deadline for investment in the scheme was March 31, but SBI has now extended the deadline to September This means that customers can invest in the scheme for the next five months.
The interest rate on the SBI Wicare scheme is 7.5 percent. The State Bank of India scheme offers a 0.5 percent higher interest rate to senior citizens than ordinary investors. This scheme can be invested for a period of 5 to 10 years. SBI said interest will be paid at this rate on new and renewable FDs.

Senior citizens generally want to invest in safe spaces. To achieve a guaranteed return. Therefore, fixed deposits are their first choice. SBI UKcare schemes offer excellent benefits. There is no uncertainty. SBI launched the Wicare special FD scheme as an option to keep senior citizens' money safe during the pandemic.
Generally, senior citizens earn 50 basis points higher interest on fixed deposit schemes in banks. However, SBI Weekcare FD offers an additional 50 basis points in addition to an additional 50 basis points. This means that senior citizens receive a 1 percent higher interest in the scheme.
If someone invests Rs. 5 lakh in the Wicare Fixed Deposit Scheme, he will get a return of Rs. 5,41,913 at an interest rate of 7.50 percent. Of this, interest will be Rs 41,9 SBI offers interest rates of 3.5 per cent to 7.5 per cent on ordinary fixed deposits with maturities of 7 days to 10 years. TDS is also deducted as per the Income Tax Act.
Earlier, SBI had extended the duration of the SBI WiCare scheme by three months. It was scheduled to start on June 30, 2023, during the COVID-19 pandemic. However, the investment period was extended till September This was followed by several extensions. It has now been extended to September