Bob against SBI, HDFC Bank and ICICI Bank: Considering the second wave of Kovid-19, banks have once again extended the deadline for a special FD scheme until September 30. This special FD scheme has been launched by State Bank of India, HDFC Bank, Bank of Baroda and ICICI Bank. Due to the COVID-19 epidemic, there has been a reduction in fixed deposit rates. A special FD scheme was launched in May 2020, without compromising the income of senior citizens. Tell us where the investment is most beneficial.
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SBI Special FD Interest Rate
India’s largest bank has launched this special project titled ‘We Care’. With this scheme, senior citizens earn an additional 30 bps points for making FDs of 5 years and above. This is in addition to the 50 bps points already available. Combining these two, senior citizens earn 0.80 bps point higher than ordinary citizens.
Currently, SBI is offering 5.40% interest rate for FDs of 5 years and above. At the same time, senior citizens are receiving 5.40 + 0.50 + 0.30 = 6.20% interest rate. New rates apply from 9 January 2021.
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HDFC Bank Special FD Rates
HDFC Bank has launched a special FD scheme titled HDFC Senior Citizen Care. The bank is giving an additional 25 bps points to senior citizens. This differs from the current 50 bps. Combining these two, senior citizens are gaining 0.75% more interest through this scheme.
According to the new interest rates issued by the Bank on 21 May 2021, senior citizens will get 6.25% interest rate on FDs of 5 years and above. Ordinary people get 5.50% interest rate on FD.
ICICI Bank Special FD Rate
ICICI Bank Introduces the Golden Year FD for Senior Citizens An additional 80 bps marks are being awarded to senior citizens through this scheme. Currently, the Bank is receiving 5.50% interest rate on FDs of 5 years or more for those under 60 years of age. In such a situation, through this special fixed deposit scheme, senior citizens can get an additional 0.80% interest rate till September 30. In addition, interest rates reached 6.30%.
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Bank of Baroda Special Fd
The Bank of Baroda is currently offering an interest rate of 6.25 per cent to senior citizens. These new interest rates for the bank will be applicable from November 16, 2020.