Almost all the big banks of the country are running the Senior Citizens Special FD Scheme for Senior Citizens, under which the elderly are getting a higher interest on FD.
Almost all the big banks in the country are running the Senior Citizens Special FD Scheme for Senior Citizens. Under this scheme, banks give more interest to the elderly on fixed deposits (FD) than the common borrowers. State Bank of India (SBI), HDFC Bank (HDFC), ICICI Bank (ICICI) and Bank of Baroda (BOB) are offering up to 1% more interest to common customers on FD. Recently, all these banks have changed the interest rates on their fixed fixed deposits (FD). The Special FD Scheme for Senior Citizens of all banks will end on December 31, 2020. Know which banks are offering the most interest to the elderly on FD.
HDFC Bank pays 75 basis points more interest
HDFC Bank is giving 75 basis points more interest on FDs to senior citizens under its HDFC Senior Citizen Care. If a senior citizen gets FD under this scheme, then they are getting 6.25% interest. This scheme is applicable from 13 November. Let us tell you that HDFC Bank now gives 2.5% interest to the customers on FDs maturing in 7 to 14 days and 15 to 29 days. At the same time, HDFC now gives 3% interest on FDs of 30 to 45 days, 46 to 60 days and 61 to 90 days. Interest will get 3.5% on FD maturing in 91 to 6 months and 4.4% on FD maturing in 6 months to 9 months and 9 months to 1 year. One-year and 2-year FDs will receive 4.9%, 5.15% on two-year to 3-year FDs, 5.30% on 3-year to 5-year term deposits and 5.50% interest on FDs maturing between 5 years and 10 years . Senior citizens will get 75 basis points more interest on these FDs.
ICICI Bank is giving so much interest to the elderly
ICICI Bank runs the ICICI Bank Golden Years Scheme for the elderly. Under this, the elderly getting FD gets 80 basis points more interest from the common customers. Senior citizens are getting 6.30% interest on FD under this scheme. Let us tell you that the common people will get 2.5% interest on the term deposit of ICICI Bank maturing in 7 to 29 days. At the same time, interest will be 3% on FDs maturing in 30 to 90 days, 3.5% on FDs maturing in 91 to 184 days, and 4.4% on FDs maturing within one year from 185 days. At the same time, FDs maturing in 1 year to 18 months will get 4.9% interest. At the same time, 5% interest will be available on FDs maturing between 18 months and 2 years. The bank now offers 5.15% interest on mid-term FDs of 2 to 3 years. At the same time, now 5.35% on FDs of 3 to 5 years and 5 on FDs of 3 to 10 years. Getting 50% interest. All these FDs get a higher interest of Senior Citizens 80 basis points.
SBI is giving so much interest
SBI Bank gives 80 basis points more interest to senior citizens under its Special Senior Citizens FD scheme. At 5 years FD, the bank gives 6.20% interest to its elderly customers. Let us tell you that SBI Bank is giving 2.9% interest to the customers on FDs maturing in seven to 45 days to the common people. At the same time, interest is getting 3.9% on FDs maturing in 46 to 179 days, 4.4% on FDs maturing in 180 to 210 days, and 4.4% on FDs maturing within 211 days. Interest on FDs maturing from 1 year to 2 years gives 4.9% interest, 5.1% on FDs between 2 years and 3 years and 5.30% interest on mid term FDs from 3 years to 5 years. At the same time, 5.40% interest is being given on long term FD of 5 years to 10 years. The senior citizens pay 80 basis points more on these FDs.
Bank of Baroda gives 1% more interest
Bank of Baroda (BOB) gives its elderly customers 1% more interest on FD than ordinary customers. That is, BOB gives an additional interest of 100 basis points to senior citizens at the most, compared to ordinary customers. On FDs of 5 years or more, the bank pays 6.25% interest to senior citizens. This rate of the bank is applicable from 16 November.
