SBI, HDFC Bank, ICICI Bank and Bank of Baroda (BoB) are offering special FDs to senior citizens, which is going to close on 30 September 2021.
SBI, HDFC Bank, ICICI Bank and Bank of Baroda are offering special FD to senior citizens, which is going to close on 30 September 2021. Let us tell you that banks had come up with a special offer for senior citizens in May 2020. The offer was for an additional interest rate of up to 0.50 per cent over and above the interest rate applicable to senior citizens in FDs with a selected maturity period. That is, up to 1 percent more interest than the interest received by the regular customer.
Banks have special FD scheme for senior citizens with tenure of 5 years or more. Which was extended till 30 September 2020, after which it was extended till 31 December, then till 31 March, after March it was extended till 30 June, so there is little hope that the date should be extended further.
SBI: At present, common citizens get the benefit of 5.4 percent interest in SBI for a period of five years. If a senior citizen takes an FD under the Special FD Scheme, he gets 6.20% interest. This scheme is for a period of 5 years or more.
HDFC Bank: HDFC Bank introduced Senior Citizen Care. The bank pays 0.75 percent more interest on these deposits. If a senior citizen makes a fixed deposit under HDFC Bank Senior Citizen Care FD, the interest rate applicable on the FD will be 6.25%.
Bank of Baroda (BoB): Under the special FD scheme of Bank of Baroda (from 5 years to 10 years), if a senior citizen makes a fixed deposit, the interest rate applicable on the FD will be 6.25 per cent.
ICICI Bank: ICICI Bank has introduced the ICICI Bank Golden Years scheme, a special FD scheme for senior citizens. The bank is offering 0.80 percent more interest in this scheme. ICICI Bank Golden Year FD scheme is offering an interest rate of 6.30 per cent per annum to senior citizens.
