1 min read.Updated: 17 Aug 2020, 11:58 AM IST Written By Sangeeta Ojha
SBI, Bank of India, IDBI and HDFC Bank offer higher interest rates for the senior citizens
The special FD scheme for senior citizens is applicable till 30 September 2020
Senior citizens special fixed deposit (FD) scheme: State Bank of India (SBI), Bank of India, IDBI and HDFC Bank have special fixed deposit (FD) scheme for senior citizens. Under this special FD scheme, senior citizens get extra interest rates over the existing rates applicable for them. Usually the banks offer higher interest rates for the senior citizens as compared to the others. Let's take a look at the senior citizens special FD scheme interest rates offered by SBI, Bank of India, IDBI and HDFC Bank
Interest rate: If a senior citizen puts a fixed deposit under HDFC Bank Senior Citizen Care FD, then interest rate applicable to the FD will be 6.25% . Under this new product, an additional 25 bps premium will be payable for senior citizens'. These rates are applicable from 12 June.
Tenure: 5 years and above
Scheme Period: Valid till 30th September, 2020
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