Investing in a bank or financial institution’s scheme is a wise choice for savings.
If you’re considering opening a Fixed Deposit (FD) with SBI for yourself or a family member, here’s what you need to know about their exclusive FD plan.
SBI’s WeCare Special FD
SBI’s WeCare Special FD is a remarkable investment opportunity that was introduced during the pandemic.
This scheme is designed primarily for senior citizens, aiming to provide both safety for their funds and attractive high-interest returns.
Grab the Opportunity Asap
If you’re interested in this scheme, make sure to open your FD before September 30, 2023.
Attractive Interest Rates
SBI’s WeCare Fixed Deposit offers higher interest rates compared to other schemes.
Customers enjoy an interest rate of 7.50 percent for a tenure of 5ars, to 10 ye and senior citizens receive an additional 0.50 percent interest.
The FD can be conveniently opened through net banking, Yono app, or by visiting the bank, with TDS deductions available monthly, quarterly, semi-annually, or annually.
SBI’s WeCare Special FD Benefits
By investing in this scheme, your money can double in just 10 years. For instance, if you invest Rs 5 lakh in 2020 for a 10-year term at an interest rate of 6.5 percent,
your interest income after a decade will also be Rs 5 lakh, effectively doubling your investment.
SBI’s Amrit Kalash FD Scheme
SBI’s Amrit Kalash FD scheme is an equally attractive option for both senior citizens and other customers compared to different tenure FD schemes.
The bank has extended the scheme period, offering customers highly competitive interest rates.