SBI launches special fixed deposit scheme for senior citizens from 12 May 2020.

The announcement made by the State Bank of India confirms that it has launched a special fixed deposit scheme for senior citizens.

The announcement made by the State Bank of India confirms that it has launched a special fixed deposit scheme for senior citizens.The Bank said that a scheme called SBI 'WECARE' for senior citizens is launched on 12 May. It aims to protect the income by providing an additional 50 bps interest rate on their Term Deposits for fixed years. The scheme is only open for individuals above 60 years and provides investment opportunity with a higher interest rate.

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