Senior Citizens FD Schemes: After the announcement of RBI, many big banks in the country have changed the rates of FD. Recently, many banks have increased the interest rates on FDs.
These include SBI, HDFC Bank, ICICI Bank, Axis Bank and IndusInd Bank. These banks have offered additional interest on FDs for senior citizens. Two special FD schemes of major banks are going to expire by the end of this month i.e. 31st March. In such a situation, if you also want to take advantage of these special FD offers, then get the FD done before March 31.
HDFC Bank FD Scheme
HDFC Bank is also offering special offers to its senior customers. The bank is offering 0.75% additional interest under the Senior Citizen Care FD offer. Under this special offer, senior citizens of age 60 years and above are being given this additional interest rate on FD. The last date to invest in this scheme is also 31st March.
Increasing trend of investing in FDs
Nowadays the trend of people towards FD has increased. Fixed deposit gives fixed profits with guarantee, so those who want profits at zero risk invest in FDs. Investments in FDs can be made for a tenure ranging from 7 days to 10 years. And most importantly, Fixed Deposit offers special offers to senior citizens.
Get FD done before 31st March
After the announcement of RBI, recently many banks have increased the interest rates on FDs. These include the country’s largest bank SBI to the private sector HDFC Bank, ICICI Bank, Axis Bank and IndusInd Bank. Let us tell you that by the end of March, two special FD schemes of major banks are going to expire. And if a senior citizen wants to invest in FD schemes, then do it before March 31, 2022. This will give you better returns.
FD Scheme of Bank of Baroda
Bank of Baroda has brought special FD scheme for senior citizens. In this, you are giving an additional 0.50% interest on FDs between 7 days to 3 years and less than Rs 2 crore. Not only this, FDs for tenures ranging from 3 years to 5 years will get an additional 0.65% interest. The bank is offering 1% additional interest on FDs of 5 years to 10 years to senior citizens. But keep in mind that these rates are being given to senior citizens till March 31, 2022.
Returns tearing thatch to senior citizens
Under this, from March 22, the bank is giving 3.3% interest to senior citizens on FDs from 7 days to 45 days. It is giving 4.20% interest on FDs of 15 days to 45 days. Interest will be 4.80% on 181 days to 270 days. At the same time, interest will be available at 4.9% interest rate on 271 days and above and less than 1 year. The interest rate on 1 year FD will be 5.50%. 5.70%, 6% interest is being given on FDs of 3 years to 5 years on FDs for tenures greater than 1 year to 3 years. 6.35% interest is being offered on fixed deposits of 5 years to 10 years.
