SBI Special FD Scheme: SBI extends Vcare FD scheme term, opportunity for 7.50% interest

New Delhi. There is news about relief for seniors. In fact, the country’s largest bank, the State Bank of India (SBI), has again extended the deadline of its ongoing Seniors Special FD Scheme (SBI Special FD Scheme). The date of investing in the Wecare program (SBI WECARE) has been extended by 3 months to June 30, 2023. Seniors will get more interest in this program.

Previously, this program ended on March 31st. SBI WeCare is a FD program for seniors. It was launched in May 2020. The bank has repeatedly extended this FD program and now the bank has extended the deadline again.

Also read this – Shock to SBI users, big devaluation of cashback credit card from May 1st, will not get lounge access benefit

Chance of 7.50 percent interest
According to the SBI website, seniors receive an additional 0.50 percent interest. The program earns 7.50 percent interest on FDs from 5 to 10 years. In this scheme, you can book FD through netbanking or the Yono app, or by visiting the branch. Interest can be drawn monthly, quarterly, semi-annually or annually. Subsequent interest on FD is available after deducting TDS.

Banks hiked interest rates due to the increase in the repo rate
Please say that after RBI’s repo rate increase, most banks increased interest rates on FD. From May 2022 to now, the RBI has increased the repo rate by 2.50 percent. Now there is speculation that the RBI could hike rates again on April 6th.

Also read this – Open an online FD account in SBI from home and know the step-by-step process

SBI FD courses
Regular customers earn 3 to 7.1 percent interest on SBI’s FD between 7 days and 10 years. At the same time, seniors receive 0.50 percent more interest on all FDs.
7 days to 45 days – 3.0%
46 days to 179 days – 4.5%
180 days to 210 days – 5.25%
211 days to less than 1 year – 5.75%
1 year to less than 2 years – 6.8 percent
400 days (Amrit Kalash FD program) – 7.10%
2 years to under 3 years – 7.00%
3 years to less than 5 years – 6.5 percent
5 years and up to 10 years – 6.5 percent

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