Many banks have introduced Special Fixed Deposit scheme for senior citizens.
These include public sector banks as well as private sector banks. Special FDs are being given more interest than special FDs in special FDs. Senior citizens can take advantage of this opportunity. They will get more returns in this. This scheme can also be invested for its parents. Explain that this scheme will remain in force till 31 March. So if you want to take advantage of the special FDs of banks, then you have to invest before March 31. Learn details about it.
Many banks have started this scheme for senior citizens. Apart from state-run banks such as State Bank of India (SBI) and Bank of Baroda (BOB), private sector banks such as HDFC Bank (HDFC Bank) and ICICI (ICICI) are also running this scheme. These banks are giving more interest than usual on special FD accounts of senior citizens.
- HDFC Bank
HDFC Bank has launched a scheme called Senior Citizen Care FD for Senior Citizens. Under this scheme, senior citizens will be given 0.75 per cent more interest than the interest paid to general customers on 5 to 10 years of APD.
In this special FD of HDFC Bank, senior citizens will get 0.5 percent more interest than other banks on deposits of up to 5 years. Currently, HDFC Bank is offering a maximum interest of 5.50% on fixed deposits. Investing under the special FD scheme will yield 6.25 per cent interest annually.
- State Bank of India (SBI)
State Bank of India (SBI) has launched SBI Wecare Scheme for Senior Citizens. Under this scheme, senior citizens get higher interest on deposits. The scheme has been introduced in the Retail Term Deposited segment. In this, senior citizens are getting 0.80 per cent more interest than normal FDs. Currently, State Bank of India is paying a maximum interest of 5.40% on fixed deposits.
- ICICI Bank
ICICI Bank has introduced a scheme called Golden Years FD for Senior Citizens. Investing in this scheme yields 0.80 per cent more interest than the normal FD. ICICI Bank pays 5.50% interest on FDs of 5 to 10 years duration. Senior citizens will get a maximum interest of 6.30% under this scheme. This scheme will be applicable for deposits up to Rs 2 crore for 5 years, 1 day to 10 years. Credit card can also be taken on FD in this scheme.
- Bank of Baroda (BOB)
Bank of Baroda (BOB) is paying 1% more interest on opening of accounts by March 2021 on FDs ranging from 5 years to 10 years for senior citizens. Bank of Baroda has a fixed deposit for senior citizens with annual interest rates ranging from 3.30 to 6.25 per cent.
