India

SBI Special FD Scheme With Higher Interest Rate For Senior Citizens

By
OB Bureau

The State Bank of India (SBI) has launched a special fixed deposit (FD) scheme named SBI Wecare Deposit for senior citizens exclusively.

The scheme provides an additional 30 basis points (bps) interest to senior citizens on their FDs. The scheme will “safeguard the interests of senior citizens in the current falling rate regime”, SBI said in a statement.

SBI will now give interests from 3.80 per cent to 6.50 per cent to senior citizens on FDs maturing in 7 days to 10 years.

The new Wecare Deposit scheme is eligible for term deposits with five year and above tenor only. The scheme can be availed within September 30. Senior citizens will get 80 bps higher interest than the rate applicable for the general public. Effectively, the interest rates will be 6.5 per cent. 

The interest rates will not be valid if the deposits are withdrawn prematurely.

 

OB Bureau

Recent Posts

Newborn Girl Found Abandoned Near Bush In Odisha’s Mayurbhanj

Baripada: A newborn girl was found lying near a bush at Bhanra village under Karanjia…

November 8, 2024

Shah Rukh Khan Bagged ‘Baazigar’ After Salman Khan Rejected It

Mumbai: Salman Khan and Shah Rukh Khan, the leading superstars of Bollywood, came from different…

November 8, 2024

Dhanush & Nithya Menen Starrer ‘Idli Kadai’ To Release On This Date

Mumbai: Actor-filmmaker Dhanush took to his X handle on Friday to announce the release date…

November 8, 2024

National Hockey: Another Big Win Takes Odisha Closer To Knockout Stage

Chennai: Odisha all but booked a berth in the knockout stage of the 14th Hockey…

November 8, 2024

Traffic Restrictions For Panchaka, Badaosa At Dhabaleswar Temple In Odisha’s Cuttack; Check Details

Cuttack: Several traffic restrictions have been imposed to ensure smooth movement of devotees to Dhabaleswar…

November 8, 2024

Late Sidhu Moose Wala’s Brother Is A Carbon Copy Of Him

Mumbai: Sidhu Moose Wala's parents Balkaur Singh and Charan Kaur shared a picture of their…

November 8, 2024

Unique Protest: No Dating, No Sex, No Babies With Men Who Voted For Donald Trump

New York: A group of American women has launched an unprecedented protest against men who…

November 8, 2024

4 More Handicrafts Granted Official Approval In Odisha; Total Number Now 55

Bhubaneswar: Four more handicrafts were granted approval by the Odisha government, taking the total number…

November 8, 2024