Your money will double in this FD of SBI, know important things before investing
SBI WeCare Special FD: If you are also planning to invest in an FD scheme, then this news is very important for you. We invest our savings in various schemes so that we can use that money at the right time or in case of emergency. Let us know in detail about a special FD of SBI in this article.
We all should invest our savings in the scheme of a bank or a financial institution. If you also want to open an FD in the name of yourself or any family member, then you should take care of many things before that. This article, let us know in detail about an FD plan of the country's largest public sector bank State Bank of India (SBI).
It is believed that private banks or small finance banks do not pay much interest on FDs. it's not like that at all. Customers get very good returns on an FD of SBI, the country's largest government bank. SBI is considered to be the largest public sector bank. This bank offers a special investment scheme to senior citizens, in which customers get many benefits. The name of this FD is 'SBI WeCare Special FD'.
This FD was launched during the corona pandemic. By investing money in this scheme, your money can be doubled. This scheme is mainly for senior citizens. The objective of this FD is to keep your funds safe and earn high interest as well as get the benefit of high returns.
If you are thinking of investing in this scheme, then you should get this FD opened before 30 September 2023.
On SBI We Care Fixed Deposit, customers get higher interest as compared to the scheme. According to the SBI website, for a period of 5 to 10 years, the customer gets an interest of 7.50 percent. At the same time, senior citizens get an additional interest of 0.50 percent. Customers can open this FD through net banking, the Yono app, or by going to the bank. TDS is deducted on this FD monthly, quarterly, and after 6 months or annually.
On regular FD, the customer gets interest between 3.50 to 7.50 for a period ranging from 7 days to 10 years.
If you invest your money in this scheme then after 10 years your money doubles. Suppose you had invested Rs 5 lakh in this scheme in 2020 for 10 years. In 10 years, the bank gives you 6.5% interest, so in 10 years your interest income will be Rs 5 lakh. In this way, your money doubles in 10 years.
Amrit Kalash FD scheme is also a very suitable scheme for senior citizens and other customers as compared to FD schemes of different tenures of State Bank of India. The bank has extended the period of this scheme. In this scheme, too, very high-interest rate offers are available to the customers.
