SBI, BoB, ICICI, HDFC Bank Special FDs for senior citizens: Fixed deposits (FDs) are still a better option for senior citizens with safe and guaranteed returns.
Many big banks offer higher interest to senior citizens on their deposits. State Bank of India (SBI), HDFC Bank, ICICI Bank and Bank of Baroda (BOB) offer special FD schemes to senior citizens. In these, except ICICI Bank, the deadline of the scheme is 30 September 2021 in all three banks. ICICI Bank has extended the deadline for its special FD for senior citizens till 7 October 2021. Amidst the declining interest rates on deposits, Special FDs are a better source of safe and assured income in retirement life. Let’s know the details of each bank’s scheme …Also Read:Know how to apply for voter id card online before UP vidhansabha chunav
SBI Special FD Scheme
In SBI’s special FD scheme ‘We Care’, senior citizens get 0.30 percent more interest on FDs for a period of 5 years and above. SBI is currently offering 5.4% interest on FDs of 5 years to the general public. If a senior citizen makes a deposit in a special FD scheme (We Care), then 6.20 percent interest will be available annually. In the We Care scheme, senior citizens will get 0.30 percent interest in addition to 0.50 percent more interest.Also Read:Good news: Delhi-Mumbai, Delhi-Howrah journey will now be completed in 12 hours, know everything
HDFC Bank Special FD Scheme
HDFC Bank gives senior citizens an additional benefit of 0.75 percent on deposits in its HDFC Senior Citizen Care FD scheme. If a senior citizen makes a deposit in HDFC Bank for more than 5 years in this scheme, then he will get 6.25 percent annual interest on the FD. Common people are getting 5.50 percent interest on FD of 5 years. In this, there will be a benefit of 0.50 percent senior citizens and 0.25 percent special scheme i.e. 0.75 percent extra interest in total.Also Read:Domestic travel guidelines: Check state-wise COVID restrictions and RT-PCR requirements
ICICI Bank Special FD Scheme
In ICICI Bank’s special FD scheme ICICI Bank Golden Years FD scheme, senior citizens get 0.80 percent more interest. In this, the bank is offering 6.30 percent interest annually to senior citizens on deposits of more than 5 years and up to 10 years. In this bank, common people are getting 5.50 percent interest on deposits of more than 5 years. On depositing in this scheme, in addition to 0.50 percent more interest, senior citizens will get 0.30 percent extra interest.Also Read:Modi government giving Rs 15 lakh sitting at home, August 15 is the last date, know what to do?
BoB’s Special FD Scheme
Bank of Baroda is offering 1.0 percent higher interest rate on deposits in a special scheme to senior cities. If a senior citizen makes a deposit in a special FD scheme for a period of more than 5 years and up to 10 years, then he will get 6.25 percent interest per annum. The bank is offering 5.25 percent annual interest to the general public on FDs of more than 5 years.Also Read:PM Modi launches new scrap policy, after testing the car will be scrap, investment will get a boost