Four major banks in the country have launched special FD schemes for senior citizens. Under this special scheme, you are getting more interest as compared to normal FDs. This special scheme of SBI, HDFC Bank, ICICI and Bank of Baroda is coming to an end on 30, 2021.
If you are a senior citizen and want more interest than normal FD, you have invested in it this month. State Bank of India has launched a new deposit scheme called SBI Weaker.
The scheme has been launched under the Retail Term Deposit segment.
It offers senior citizens 0.80% higher interest than normal FD.
Only those who register for the scheme will get the benefit.
SBI is currently offering a maximum of 5.40% on general FDs.
In this scheme called Golden Years FD, investors will get 0.80% higher interest than normal FD.
ICICI Bank is currently getting the highest interest rate of 5.50% on 5 to 10 year FDs.
Senior citizens will get a maximum interest of 6.30% under this scheme.
This scheme is valid for 5 years 1 day to 10 years. The scheme will be applicable on deposits up to Rs 2 crore.
This scheme will be applicable on new FDs as well as renewal of old FDs.
The card can also be taken. Bank of Baroda is currently charging an annual interest rate of 3.3 to 6.25 per cent on FDs for senior citizens.
HDFC HDFC has launched a scheme called Senior Scheme
Senior Citizen Care FD. Will get higher interest.
Senior citizens will get 0.5% more interest on 5 year term FD than others.
Under this scheme, maximum interest will be 6.25% per annum.
HDFC Bank is offering a maximum interest of 5.5 per cent on ordinary FDs.