SBI’s two schemes – the ‘We-Care Deposit Scheme’ and ‘Amrit Kalash Deposit Scheme’ are about to close by March 31, 2024.
State Bank of India (SBI) offers several financial services to its customers. These include unique deposit schemes and special fixed deposits for both normal and senior citizens. SBI currently offers two limited-time FD schemes which provide more interest than others. Notable, these two schemes – the ‘We-Care Deposit Scheme’ and ‘Amrit Kalash Deposit Scheme’ are about to close by March 31, 2024.
Read More: 10 Common Mistakes To Avoid When Investing In Equity Linked Saving Scheme
If you want to know more and invest in these schemes, check the details here:
SBI We-Care Deposit Scheme: This scheme is specially for senior citizens of India. The minimum tenure of this scheme is five years and the maximum is 10 years. However, people under 60 years of age, can also invest in this scheme, but they will get less interest than senior citizens.
Read More: Rupee Rebounds 14 Paise To 83.05 Against Dollar As US Fed Indicates 3 Rate Cuts
Interest rate
Senior citizens: 7.5 per cent
Normal citizens: 6.5 per cent
You can also take a loan on this FD scheme.
SBI Amrit Kalash Deposit Scheme: This scheme is run by SBI for 400 days, and the interest on this scheme is 7.10 per cent yearly. In this FD also, you can take a loan. However, senior citizens get 7.60 per cent interest in this scheme.
Read More: Loan Against PF – How To Apply For An EPF Loan
How to invest in We-Care Deposit and Amrit Kalash Deposit schemes
You can either go to any of the SBI branches or can also use the YONO app to invest in these schemes. The final day to invest in both the schemes is March 31, 2024.
