Special FD scheme: Special FD offer for senior citizens was made available for investment from 18 May 2020 amid falling interest rates during the coron virus virus epidemic.
On the occasion of Holi, the private sector HDFC Bank (HDFC Bank) has given a big gift to the elderly. HDFC Bank has extended the special fixed deposit scheme for senior citizens for the third time. The bank offers a special fixed (FD) scheme for senior citizens called the Senior Citizen Care FD scheme scheme. The bank pays interest on this special FD to senior citizens more than the common people. Special FD offer for senior citizens was made available for investment from 18 May 2020 amid falling interest rates during the coron virus virus epidemic.
Let us tell you that SBI first extended the special fixed deposit scheme. The bank has extended the SBI Wecare Deposit Scheme for three months to June 30.
This will give more interest
HDFC Bank is offering 75 basis points (bps) interest on these deposits. If a senior citizen makes a fixed deposit under HDFC Bank’s Senior Citizen Care FD, the interest rate applicable to the FD will be 6.25 per cent. These rates are applicable from 13 November 2020.
According to the HDFC Bank website, during the special deposit offer from May 18 to June 30, senior citizens will be given an additional premium of 0.25 per cent (more than the existing premium of 0.50 per cent). Under this, fixed deposits will have to be less than Rs 5 crores and 5 years from one day to 10 years.
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