SBI We Care Fixed Deposit - For Senior Citizens

State Bank of India (SBI) has launched a special fixed deposit (FD) scheme for senior citizens in India. 
Under this scheme, senior citizens will get an additional 30 basis points interest on their fixed deposits.

SBI We Care Fixed Deposit

Due to COVID-19 Pandemic all banks in India have reduced their interest rates on fixed deposits to below 5.5%. Because of this the income of senior citizens who were depending on the earnings coming out of FD's have severely Impacted.

To compensate this the State bank of India launched SBI We Care Scheme for senior citizens.

SBI we Care Fixed Deposit

Here's all you need to know about SBI special FD scheme SBI Wecare Deposit for senior citizens:
  • In SBI Senior citizens special FD scheme, residents of 60 years or more are eligible to invest.
  • SBI Wecare Deposit special FD scheme for senior citizens is applicable for tenure of 5 years or more.
  • The new interest rates will be applicable on fresh term deposits as well as existing deposits.
  • SBI special FD scheme for senior citizens is applicable till 30 September 2020.

This is golden opportunity during Pandemic for senior citizens to Invest and earn better Interest Rates


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