senior citizen special fd rates, senior citizen fd interest rates | Senior citizens special FD: Great opportunity for senior citizens, these banks are giving more interest
Senior citizens are getting more interest on FD
- SBI is offering 6.20% interest on Special FDs to senior citizens.
- HDFC Bank is giving 6.25 percent return on special FD.
- ICICI Bank is offering 6.30 percent interest on Special FD.
New Delhi: Several banks including State Bank of India, HDFC Bank, Bank of Baroda and ICICI Bank are offering special fixed deposit (FD) schemes to senior citizens, which offer higher interest rates on fixed deposits. Bank Fixed Deposits (FDs) and Senior Citizens Savings Schemes (SCSS) are ideal investment avenues keeping in mind the long term stability aspect and extra benefits in mind.
SBI Special FD Scheme for Senior Citizens
SBI’s Special FD scheme for elderly people offers interest rates up to 80 basis points (bps) above the rate available to regular investors. Currently, SBI offers 5.4 per cent interest rate on 5-year FDs to the general public. Whereas the current interest rate for senior citizens under the Special FD scheme is 6.20%. SBI said a special “SBI WeCare” deposit has been introduced for senior citizens in the retail TD segment, wherein senior citizens will be charged an additional premium of 30 bps (over the existing 50 bps mentioned in the table above) on their retail TDs. will be paid. Period ‘5 years and above’ only. “SBI Wecare” deposit scheme has been extended till 30th September 2021.
HDFC Bank’s special FD scheme for senior citizens
The bank stated on its website that an additional premium of 0.25% (over and above the existing premium of 0.50%) will be given to senior citizens who wish to book fixed deposits of less than Rs 5 crore for tenures ranging from 5 years a day to 10 years , Special FD offer will be available starting from 18 May 20 to 30 September 21. HDFC Bank offers a higher interest rate of 75 bps on these special deposits. This means that senior citizens will get a good return of 6.25 per cent under HDFC Bank Senior Citizen Care FD.
Bank of Baroda Special FD Scheme for Senior Citizens
Bank of Baroda (BOB) is offering 100 bps more to senior citizens on these deposits. If a senior citizen deposits in this scheme, the interest rate available for FDs under the Special FD scheme will be 6.25 per cent with tenures ranging from more than 5 years to 10 years.
ICICI Bank’s special FD scheme for senior citizens
ICICI Bank launched the ICICI Bank Golden Years FD scheme under the special FD scheme for senior citizens. In this FD scheme, ICICI Bank is offering 80 bps additional FD interest rates to senior citizens as compared to normal FD depositors. ICICI Bank is offering 5.50 per cent on FDs for tenures of 5 years and above, so senior citizen will get 6.30 per cent FD return under ICICI Bank Golden Years FD scheme.
Which special FD scheme will give the highest interest rate?
Under the Special FD Scheme for Senior Citizens ICICI Bank Golden Years FD scheme is offering the highest interest rate to senior citizens at 6.30 per cent.
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