Good interest is available on both these FDs brought by SBI for senior citizens.Image Credit source: Reuters
You still have a chance to invest in two special FDs of State Bank of India. Yes, the country’s largest bank SBI has extended the last date to enter it. Both these FDs guarantee higher interest.
These two special FD schemes run for senior citizens are SBI WeCare and SBI Amrit Kalash. SBI V-Care scheme is available for a period of 5 to 10 years. Whereas in SBI Amrit Kalash scheme one has to invest for 400 days.
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Last date extended so much
SBI has now extended the last date of Amrit Kalash FD scheme to 15 August 2023. While the last date to invest in the V-Care scheme will now be 30 September. The effect of making these changes in SBI’s FD scheme has been seen on other banks as well.
The country’s largest private bank HDFC Bank has also extended the last date of entry till July 7, 2023 in its special FD scheme for senior citizens.
You get this much interest in FD
The bank gives good interest on both these FDs brought by SBI for senior citizens. Senior citizens get additional interest on term deposits in SBI V-Care. This interest rate is 7.5 percent.
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On the other hand, in the Amrit Kalash FD scheme, the bank gives interest at the rate of 7.10 percent to the common people for 400 days of investment. On the other hand, senior citizens get 7.60 percent interest for the same period.
Interest of 3 to 7 percent is available on other FD schemes of SBI. All these FDs should be less than Rs 2 crore. State Bank of India is the largest bank in the country. It has more than 22 thousand branches across the country, while its ATM network is of more than 60,000 ATM machines. SBI also provides its service in more than 30 places outside India.