HDFC Bank vs SBI: The country’s largest public sector bank State Bank of India (SBI) and the country’s largest private sector bank HDFC are running a special scheme for senior citizens.
HDFC Bank vs SBI: The country’s largest public sector bank State Bank of India (SBI) and the country’s largest private sector bank HDFC are running a special scheme for senior citizens. SBI Bank is offering SBI Wecare keeping senior citizens in mind. At the same time, HDFC Bank is offering Senior Citizen Care FD. Let us know where senior citizens will get more money by investing their money.
HDFC Bank Senior Citizen Care FD
HDFC Bank is offering Senior Citizen Care FD. This scheme is running since the year 2020. HDFC Bank is giving additional interest of 0.25 percent to senior citizens instead of 0.50 percent. The bank gives extra interest of 0.75 percent to senior citizens. This is a little more interest than your regular FD. It is giving 7.75 percent interest to senior citizens on FDs ranging from 5 years to 10 years. This interest is available on FD of less than Rs 5 crore. HDFC Bank is offering interest between 3.50% to 7.75% to senior citizens on normal FD. The last date for investment in Senior Citizen Care FD has been extended to May 11, 2024.
SBI WeCare
SBI WeCare Special FD scheme was launched as an option for senior citizens to keep their money safe during the Covid times. By making minimum investment in this FD scheme, you can get higher returns in 5 years and 10 years. Extra interest of 50bps i.e. 0.50 percent is available on SBI WeCare FD. At present this FD scheme of SBI is giving interest at the rate of 7.50 percent. You will have to invest in it by 30th September.
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