State Bank of India has extended the dates of senior citizens’ special fixed deposit scheme once again. The dates of this project have been extended for the third time. In May last year, State Bank of India launched a ‘Vicare Senior Citizen’ scheme aimed at the elderly. The project was extended to September, then extended to December, and now its dates have been extended from March 31 to June 30. According to the State Bank of India website, ‘the project date for senior citizens has once again been extended’.
6.20% interest rate
This scheme of State Bank of India is designed to take care of senior citizens. However, if the State Bank of India offers a 5-year fixed deposit at 5.4 per cent, the interest rate on the scheme will be 6.20 per cent.
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State Bank of India has been offering interest rates on regular deposits of 7 to 10 years for ordinary citizens at 2.9 to 5.4 per cent. Senior citizens, on the other hand, get 50 additional basics in these FDs. State Bank of India last changed its FD rate on 20 January 2021.
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