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SBI launches special FD scheme for senior citizens during pandemic

State Bank of India (SBI) has recently launched a special fixed deposit (FD) scheme for senior citizens called ‘SBI Wecare Deposit’.

The scheme has been introduced to safeguard the interests of senior citizens in the current falling rate regime in the time of coronavirus pandemic.

SBI said that under this new scheme, an additional 30 basis points (bps) premium will be payable for senior citizen’s retail term deposits with “5 Years & above” tenor only.

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