The State Bank of India, Bank of Baroda and HDFC Bank provides a Special Fixed Deposit Scheme for the senior citizens from all sections of society that includes the farming community as well. Now the FD schemes offered by these banks have extended till 30 September 2021.
Meanwhile, ICICI Bank has extended its Golden Years Fixed Deposit meant for Senior Citizens to October 7, 2021. Amid the falling interest rates, these banks had introduced the special FD schemes for the senior citizens for the tenure of five years & more last year.
HDFC Bank Special FD Scheme for Senior Citizen Interest Rate
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HDFC Bank special FD scheme for Senior Citizens is called as the HDFC Senior Citizen Care.
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The bank offers 75 bps higher interest rate on these deposits.
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If a senior citizen puts a fixed deposit under the HDFC Bank Senior Citizen Care FD, then interest rate is applicable to Fixed Deposit will be 6.25%.
SBI Special FD Scheme for Senior Citizens Interest Rate
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The SBI special FD scheme for the senior citizens “We Care” offers an additional 30 bps interest rate to the senior citizens on their FD for the tenure of 5 years & more.
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A present, SBI gives a 5.4% interest rate on 5 years Fixed Deposit for general public.
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If a senior citizen puts a fixed deposit under the special FD scheme, then the interest rate is applicable to Fixed Deposit will be 6.20%.
ICICI Bank Special FD Scheme for Senior Citizens Interest Rate
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ICICI Bank Special FD scheme for Senior Citizen.
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ICICI Bank Golden Years FD scheme – It offers an 80 bps with higher interest rate.
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ICICI Bank Golden Year FD scheme will give 6.30% per annum.
Bank of Baroda Special Scheme for Senior Citizens Interest Rate
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Bank of Baroda offers a 100 bps higher on these deposits to the senior citizen.
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If a senior citizen puts a fixed deposit under special FD scheme, then the interest rate is applicable to Fixed Deposit will be 6.25%.
