Home / Money / Personal Finance /  ICICI Bank special fixed deposit scheme for senior citizens will close today

The ICICI Bank special fixed deposit scheme for senior citizens will close for investment today, October 7, 2022. Senior citizens who want to take advantage of the additional 10 basis points (bps) interest rate over and above the existing rates offered to them can do so by opening an FD under the scheme today. ICICI Bank’s special FD scheme, also known as Golden years FD, is meant for resident senior citizen customers.

“Resident Senior Citizen customers will get an additional interest rate on an FD of 0.10% for a limited time over and above the existing additional rate of 0.50% per annum The additional rate will be available on fresh deposits opened as well as deposits renewed during the scheme period. Scheme Period : Valid up to Oct 07th, 2022," ICICI Bank stated on its website.

With effect from September 30, ICICI Bank offers a 6% rate to the general public on FDs below 2 crore maturing from 5 years 1 day to 10 years. To senior citizens, the bank offers 6.60% on the same tenure.

Earlier, the State Bank of India (SBI), private sector lender HDFC Bank extended its special FD scheme for senior citizens till March 31, 2023. 

Senior Citizen Care FD has been available for senior citizens since May 18, 2020, with a higher interest rate benefit. Due to the COVID-19 pandemic and the low-interest rate regime, the scheme has been repeatedly extended.

Meanwhile, ICICI Bank offers interest rates ranging between 3% to 6.10% to the general public on tenures from 7 days to 5 years. The rate is between 3.50% to 6.6% on these tenures for senior citizens.

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