SBI Fixed Deposit Plan: Are you searching for a safe investment with good returns? SBI, the largest public sector bank in the country, has a special scheme just for you.
You can double your money by investing in the WeCare FD scheme. If you invest Rs 5 lakh, you’ll receive Rs 10 lakh when it matures.
The deadline for investing in the WeCare FD scheme has been extended by SBI until March 31, 2024.
SBI is providing the best interest rates on this FD. Let’s learn more about SBI’s FD scheme.
Interest Rates for SBI WeCare FD
SBI offers senior citizens 0.50% extra interest on any FD compared to regular customers. WeCare FD is currently offering 7.50% interest.
Investments under this scheme are for a minimum of 5 years and a maximum of 10 years. These rates apply to both new and renewed FDs.
You’ll receive Rs 10 lakh by investing Rs 5 lakh
Presently, SBI is offering a 7.5% interest rate on WeCare FD. At this rate, your money will double in 10 years.
This means if you invest Rs 5 lakh, you can get Rs 10 lakh upon maturity. Over the 10 years, you’ll receive Rs 5.5 lakh as interest for your Rs 5 lakh investment.
SBI provides interest rates ranging from 3.50% to 7.60% on its FDs, with a 6.5% interest rate on a regular 10-year FD.
SBI WeCare FD Scheme
By investing in SBI’s WeCare Special FD Scheme, you’ll earn interest at a rate of 7.5%. This scheme offers customers 0.30% more interest than regular FDs.
Additionally, if you opt for this FD scheme, you can also avail of a loan facility.
