Invest money in SBI Senior Citizen Policy & Get high returns-Investing money in a specific scheme that can make high revenue in Return, is the best policy ever, this article to introduce you to a new scheme that is SBI Senior Citizen policy,
This policy scheme and the benefits information have been discussed in this article, why should you choose the State bank of India’s new scheme policy for Senior citizens. this scheme is run specifically for Indian senior Citizens to sustain their financial condition Good. because investors would receive high returns in comparison to other investment schemes.due to the higher interest rate.
What is SBI Senior Citizen Scheme?
SBI senior citizen scheme is a type of SBI ‘we care’, Although the Indian Government to launch various schemes for individuals to attain the benefits of these schemes, like a fixed deposit scheme. similarly, the current policy for senior citizens is, where they can receive high-interest rate than that fixed deposit interest rate.
so especially a type of special fixed deposit scheme that the Bank has started and this scheme will be modified in March 2022, for which, Family members like Father, Mother, Grandfather or Grandmother can put their amount in this scheme, SBI we care allows a senior individual to adopt a special type of Fixed deposit scheme that we consider it Senior citizen scheme.
This scheme was held in September last year so till now approximately 2 crores of rupees have been deposited in the Bank for the same scheme. and the investment plan is only for 5 years maximum. while the bank’s new deposit scheme if investment plan more than 5 years on FD then up to Thirty BPS premium interest rate
Eligibility to take advantage of SBI senior citizen scheme
Eligibility criteria to take advantage of this scheme depends on the Bank’s customer age details, Nationality,check the below
- Minimum age is not required less than 60 years.
- Joint account holder or Sole account holder can also avail this scheme.
- A Defence Army retired person from his service and the age is 50 years atleast can also avail this facility.
- NRI individuals are not eligbile
Maturity details of SSCS
This scheme matures in the next five years but the maturity time period can also be increased up to 3 years more, By giving an application within a year before your maturity time period will completed,Good thing is that Bank does accept this request without any deduction from your scheme policy. after then, an individual can close an account any time after completing an additional three years or more time period from the prior maturity time.
But with that, you must know other specifications of this scheme. this account accept a minimum deposit of up to 1000 rupees onward, or multiple of 1k rupees which should be less than or 15 lakh or less, after 5 years of the maturity date, individuals can increase extra 3 years of a maturity time period, and also those individuals can fill one more Nominee details
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