Senior Citizens Special Fixed Deposit Schemes: Special FD schemes of SBI, HDFC Bank, ICICI Bank and Bank of Baroda are included in this. This scheme will be closed from 1st April 2022.
Senior Citizens Special Fixed Deposit Schemes: There are many big banks in the country, which give the benefits of schemes with best return schemes to senior citizens. In such a situation, special FD schemes of SBI, HDFC Bank, ICICI Bank and Bank of Baroda are included in this. This scheme will be closed from 1st April 2022. These schemes for senior citizens were launched by all these banks in May 2020. Before this, banks should close these schemes, before that you should take advantage of it in time.
SBI Wecare Deposit Special FD Scheme
The country’s largest bank SBI had announced SBI WECARE Senior Citizens Term Deposit Scheme in May 2020 for senior citizens. Under this, senior citizens will get 0.80 percent more interest on FDs with a tenure of more than 5 years.
Bank of Baroda Special FD Scheme
BoB is giving 100 basis points i.e. 1% more interest to senior citizens under the ‘Special Senior Citizens FD Scheme’.
ICICI Bank Special FD Scheme
ICICI Bank runs a scheme named ‘ICICI Bank Golden Years’ for senior citizens. Under this, the elderly who have FD are given 80 basis points more interest than the common people.
HDFC Bank Senior Citizen Care FD
HDFC Bank had started a scheme for senior citizens called ‘Senior Citizen Care FD’. Under this, the bank is offering an additional premium of 0.25 percent on FD.
What is Special FD Scheme
Under the Special Fixed Deposit Scheme, senior citizens get a higher interest than a regular FD. Although, most banks offer higher interest rates to senior citizens, but in special FDs, the benefit of additional interest rate is being given on that interest rate. In Fixed Deposit with Selected Maturity Period, senior citizens get an additional interest of up to 0.50% over the applicable interest rate, that is, up to 1% more interest than the regular customer gets.
The scheme has been extended several times
Banks have extended this scheme many times. This scheme was first extended till 30 September 2020, then 31 December, then till 31 March 2021, after March it was extended till 30 June 2021 then it was extended till 30 September 2021. After that it was extended till 31 March 2022. Let us know which bank is offering what through this special FD scheme.
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