If you are planning to get a Fixed Deposit (FD) then this news is for you. In fact, in the midst of the Kovid-19 pandemic, banks launched a special senior citizen fixed deposit (FD) scheme for senior citizens in May last year. 50 basis points are being given more interest to senior citizens. However, senior citizens are already 50 basis points more interested than the general public. That is, in a special FD scheme, senior citizens get 1% more interest on FD. But the important thing to note is that this project ends June 30th. So let us tell you which banks are paying you interest under this scheme:
These banks are offering benefits
State Bank of India (SBI), HDFC Bank, ICICI Bank and Bank of Baroda offer these special FDs to senior citizens.
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So much interest in the SBI scheme
The name of this special FD of State Bank of India (SBI) is SBI WeCare. Senior citizens are getting more than 80 basis points in this scheme. Under this scheme, senior citizens are getting 6.20% interest for 5 to 10 years FDs. This interest is applicable on deposits of less than Rs. 2 crore.
HDFC Bank Special Scheme
HDFC Bank is offering 75 basis points interest to senior citizens under its HDFC Senior Citizen Care FD scheme. That is, during the 5-year tenure of HDFC Senior Citizen Care Fixed Deposit Scheme, senior citizens are receiving 0.75% more interest than the general public. Under this scheme, FD holders are getting 6.25% interest.
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Bob is very interested
Under the Special Senior Citizens FD scheme, the Bank of Baroda (BOB) is offering 100 basis points, ie 1% more interest for senior citizens. Bob is offering an annual interest rate of 6.25% on 5 year to 10 year FDs for senior citizens.
ICICI Bank is offering this interest under a special senior citizen scheme
ICICI Bank is running the Golden Years Project for the Elderly. Under this, older people with FD will get 80 basis points more interest than normal customers. Senior citizens are getting 6.30% interest on FD under this scheme. ICICI Bank has extended the special senior citizen FD scheme till June 30. The bank has provided this information on its website.