SBI vs. Bob vs. ICICI vs. HDFC: Find out where senior citizens get the best return on FD

Due to the corona epidemic, many banks launched a fixed deposit scheme last year to look after senior citizens. This plan is for short term only. State Bank of India, HDFC Bank, State Bank of India, Bank of Baroda and ICICI Bank have launched a special FD scheme for senior citizens.

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 and 10-year FDs for senior citizens.

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ICICI Bank is offering this interest under a special senior citizen scheme

ICICI Bank is planning a golden years scheme 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.

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.

The All-Senior Citizen’s Special FD Project was launched in May last year. It was extended to September 30, 2020. This was later extended to December 31st and then March 31st. After March, it was extended to June 30. In such a situation, there is no guarantee that the date will now be further extended.

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