State Bank of India (SBI) special fixed deposit scheme for senior citizens has been extended. In May, the bank had announced SBI 'WECARE' Senior Citizens' Term Deposit scheme for senior citizens. The scheme was launched to provide a higher interest rate to senior citizens in the current falling interest rate scenario. SBI special FD scheme for senior citizens is available on fresh deposit and renewal of maturing deposits. Interest rate of SBI special FD scheme for senior citizensSBI special FD scheme for senior citizens will fetch 80 basis points (bps) interest rate above the rate applicable to the general public.

Source: Mint September 13, 2020 05:37 UTC