Special fixed deposit (FD) schemes for senior citizens to invest in 2023. Interest rates, and other details here
Banks offer special fixed deposit schemes for senior citizens with higher interest rates, but the last date keeps changing. SBI, HDFC, and ICICI are among the banks offering these schemes
Special fixed deposit (FD) schemes for senior citizens: Amid the Covid-19 pandemic in May 2020, many banks launched special fixed deposit (FD) schemes for senior citizens. This scheme offers higher interest rates to senior citizens who open FDs with a tenure of 5 years and more. The last date of the schemes has been revised multiple times by the banks since its launch. The State Bank of India (SBI), HDFC Bank, and ICICI Bank are offering these special term deposits for elderly people.