Under the scheme of HDFC Bank, the maximum interest on investment is 6.25.
Under the special scheme of ICICI Bank, the maximum interest on investment is 6.30% per annum.
HDFC and ICICI Bank, which started the special fixed deposit scheme for senior citizens, can now be invested in it by 31 March. The last date to invest in both these schemes was 31 December. Under these schemes, senior citizens are getting more interest than normal FD. Earlier, State Bank of India (SBI) has extended the last date to invest in its ‘Vcare’ scheme till March 31.
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HDFC Bank’s Senior Citizens Care Scheme
HDFC Bank has launched a scheme called Senior Citizens Care FD for Senior Citizens. According to the bank, senior citizens will pay 0.75% more than the interest paid to ordinary customers on fixed deposits of more than five years and less than 10 years. Senior citizens and others will get 0.50% interest on deposits up to 5 years. At present, HDFC Bank is offering a maximum interest of 5.50% on fixed deposits, investing under this scheme will get a maximum interest of 6.25% per annum.
ICICI Bank’s Golden Years FD Scheme
ICICI Bank has now launched a special fixed deposit scheme for senior citizens called Golden Years FD. Investing in this scheme will fetch 0.80% more interest than ordinary FD. Currently, ICICI Bank is getting the highest 5.50% interest on FDs of more than 5 years and up to 10 years. That is, senior citizens will now get a maximum of 6.30% interest under this scheme. This scheme will be applicable on deposits up to Rs 2 crore for 5 years, 1 day to 10 years. This scheme will be applicable for renewal of old FD as well as new FD. If ICICI Bank is Golden Years FD, then credit card can also be taken on it.
SBI also started a new scheme
State Bank of India (SBI) has recently started a new deposit scheme for senior citizens under the name SBI VCare. Senior citizens will get more interest in this scheme. The scheme has been launched under the retail term deposit segment. In this scheme, senior citizens will get 0.80% more than the interest received from ordinary FD. SBI is currently offering a maximum interest of 5.40% on fixed deposits. That is, 6.20% interest will be earned on investing under this scheme.
