Home >Money >Personal Finance >Special fixed deposit (FD) scheme for senior citizens: What SBI, Bank of Baroda, HDFC Bank, ICICI Bank offer
Special fixed deposit scheme for senior citizens. (HT)
Special fixed deposit scheme for senior citizens. (HT)

Special fixed deposit (FD) scheme for senior citizens: What SBI, Bank of Baroda, HDFC Bank, ICICI Bank offer

  • The special FD scheme for senior citizens is applicable till 31 December 2020
  • Let's take a look at what SBI, Bank of Baroda, HDFC Bank and ICICI Bank offer to senior citizens on these special FD scheme

Special fixed deposit (FD) scheme for senior citizens: State Bank of India (SBI), Bank of Baroda, Punjab National Bank, and private lenders HDFC Bank, and ICICI Bank offer extra interest rates over the existing rates applicable for senior citizen term deposits on this special fixed deposit (FD) schemes for senior citizens. This has been done to safeguard the interests of senior citizens as the interest rates are falling rapidly. The special FD scheme for senior citizens is applicable till 31 December 2020.

Let's take a look at what SBI, Bank of Baroda, HDFC Bank and ICICI Bank offer to senior citizens on these special FD scheme:

SBI special FD scheme for senior citizens

SBI offers 80 bps higher to senior citizens on deposits maturing in five years and more. If a senior citizen puts a fixed deposit under the special FD scheme - SBI Wecare', then interest rate applicable to the FD will be 6.20%.

HDFC Bank special FD scheme for senior citizens

HDFC Bank special FD scheme for senior citizens is called HDFC Senior Citizen Care. The bank offers 75 bps higher interest rate on these deposits. 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% .

ICICI Bank special FD scheme for senior citizens

ICICI Bank special FD scheme for senior citizens is called ICICI Bank Golden Years. The bank offers 80 bps higher interest rate on these deposits. ICICI Bank Golden Years FD scheme offers senior citizens an interest rate of 6.30% per annum.

Bank of Baroda special FD scheme for senior citizens

Bank of Baroda offers 100 bps higher on these deposits to senior citizens. If a senior citizen puts a fixed deposit under the special FD scheme (above 5 years to up to 10 years), then interest rate applicable to the FD will be 6.30%.

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