New Delhi :
In a rapidly changing financial landscape, where investment opportunities abound, senior citizens often seek secure options with promising returns.
For those looking to safeguard their savings, the State Bank of India (SBI) offers the WeCare Special FD Scheme, tailored to cater to the unique needs of elderly investors.
However, the clock is ticking, as this exclusive scheme is set to close its doors on September 30, 2023.
This leaves potential investors with just few days to seize this opportunity.
Earning More with SBI WeCare: Senior Citizens Reap the Rewards
SBI introduced the WeCare Special FD scheme during the height of the Covid-19 pandemic as a haven for senior citizens to protect their hard-earned money.
This FD scheme stands out by offering the highest interest rates in the market. Even with a minimal initial investment, individuals can enjoy significant returns over 5- and 10-year tenures.
What’s more, the scheme offers an extra interest rate of 0.50 percent, equivalent to 50 basis points, granting senior citizens an interest rate exceeding 1 percent. Presently, this SBI FD scheme offers an impressive 7.50 percent interest rate.
Investors interested in capitalizing on this opportunity must act swiftly and invest before the September 30 deadline.
SBI WeCare FD Scheme Closing Soon
Wondering how long you can take advantage of this exceptional FD scheme? The State Bank of India permits investments in the WeCare Special FD scheme until September 30, 2023.
Senior citizens stand to benefit from an additional 0.50 percent interest rate compared to regular FDs, where interest rates range from 3.50 percent to 7.50 percent for tenures spanning 7 days to 10 years.
It’s important to note that TDS (Tax Deducted at Source) applies as per Income Tax rules, but investors have the option to submit Form 15H/15G to seek exemption from tax deductions.
Make the most of this opportunity and secure your financial future with SBI’s WeCare Special FD scheme before it closes its doors at the end of September.