If a senior citizen is planning to open a new FD account, here is an opportunity to earn 0.80% more than a normal SBI FD investor. The State Bank of India (SBI) extended the special Fixed Deposit scheme for senior citizens from December 31, 2020 to March 31, 2021. As per SBI’s official website — sbi.co.in, a senior citizen will get 50 bps more than a normal FD investor while under Senior Citizen Special FD Scheme, the FD account holder will get an additional 30 bps FD interest rate.
A special “SBI Wecare” Deposit for Senior Citizens introduced in the Retail TD segment wherein an additional premium of 30 bps (over & above the existing 50 bps) will be paid to Senior Citizens on their retail TD for ‘5 Years and above’ tenor only. “SBI Wecare” deposit scheme stands extended till 31st March 2021,” SBI mentioned on its website.
SBI Special FD Scheme
SBI special FD scheme for senior citizens will fetch 80 basis points (bps) interest rate above the rate applicable to the…