The State Bank of India (SBI) has announced the extension of the last date to invest in their WeCare Special FD scheme. This scheme is specifically designed for senior citizens and provides a higher interest rate than regular FDs. The WeCare FD scheme offers a competitive interest rate of 7.5% for senior citizens, which is 80 basis points more than the regular FD rates offered by SBI. The minimum investment amount for this FD is Rs. 1,000, and there is no maximum limit. The scheme has a tenure of 5 years and comes with the option of monthly, quarterly, or cumulative interest payout.

The SBI WeCare FD scheme aims to provide financial security to senior citizens by offering them an attractive interest rate on their savings. As the name suggests, the scheme is designed to take care of the financial needs of senior citizens. It is a time-tested investment avenue that provides assured returns and offers them stability and peace of mind.

To avail of the SBI WeCare FD scheme, senior citizens need to visit their nearest SBI branch and submit the necessary documents, including age proof and identification documents. The interest rate is applicable for deposits made after May 12, 2020, until further notice. The extension of the last date to invest in this scheme will allow senior citizens to avail of the higher interest rate for a longer period.

In conclusion, the SBI WeCare Special FD scheme is a great investment option for senior citizens looking for higher returns on their savings. With the extension of the last date, more senior citizens can take advantage of this scheme and secure their financial future.