Mumbai: The largest public sector bank in the country, the State Bank of India (SBI) has extended the deadline for opening an account under SBI WeCare, a special fixed deposit (FD) scheme for senior citizens. The new deadline is September 30, 2022.
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Under the SBI WeCare scheme, the lender offers 0.8% more interest to investors than the interest rate applicable to the general public. SBI had introduced the SBI ‘WECARE’ Older Citizens’ Term Deposit plan in May 2020. The scheme was launched to offer higher interest rates to promote fixed deposit schemes among senior citizens.
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