News From Press SBI launches special FD scheme for senior citizens

SBI launches special FD scheme for senior citizens

SBI has launched a special fixed deposit (FD) scheme for senior citizens called ‘SBI Wecare Deposit’

Mint May 8, 2020

State Bank of India (SBI) has launched a special fixed deposit (FD) scheme for senior citizens called ‘SBI Wecare Deposit’. This has been introduced in the retail term deposit segment to safeguard the interests of senior citizens in the current falling rate regime in the time of coronavirus pandemic. SBI says under this new scheme, an additional 30 basis points (bps) premium will be payable for senior citizen’s retail term deposits with “5 Years & above" tenor only.

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