Bank Fixed Deposits (FDs) are one of the best investment options especially for senior citizens on a long-term basis. Amid the coronavirus pandemic, several banks like State Bank of India (SBI), HDFC and ICICI introduced these special fixed deposits with higher interest rates on fixed deposits for senior citizens. Let us have a look at the interest rate offered to senior citizens on these particular FDs.
SBI Special FD Scheme Interest Rate for Senior Citizens
State Bank Of India Special FD Scheme for Senior Citizens -We Care -Offers an additional 30 bps interest rate to senior citizens on their FDs for a tenure of 5 years or more. If a senior citizen makes a fixed deposit under the special FD scheme, then the interest rate applicable on the FD will be 6.20 percent. These interest rates are effective from 15 January 2022.
ICICI Bank Special FD Scheme Interest Rate for Senior Citizens
ICICI Bank’s special FD scheme for senior citizens -ICICI Bank Golden Years FD scheme – offers 80 bps higher interest rate. ICICI Bank Golden Year FD scheme will give 6.35% p.a. These interest rates are effective from 20 January 2022.
HDFC Bank Special FD Scheme Interest Rate for Senior Citizens
HDFC bank The special FD scheme for senior citizens is called HDFC Senior Citizen Care. The bank offers 75 bps higher interest rate 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 6.35%. These interest rates are effective from 12 January 2022.
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