Senior Citizen Fixed Deposit scheme: Benefit of ‘SBI Wecare Deposit’ and ‘Senior Citizen Care FD’ of HDFC Bank can now be availed till 30 September 2022. Earlier its date was kept till 31 March 2022.
SBI and HDFC Bank have once again extended the deadline for special fixed deposits brought for senior citizens. Now customers can avail the benefits of SBI’s FD product ‘SBI Wecare Deposit’ and HDFC Bank’s ‘Senior Citizen Care FD’ till 30 September 2022. Earlier its date was kept till 31 March 2022.
Due to the deteriorating situation during Kovid, both these banks had started these special FD schemes as a help to the senior citizens. Both the banks will get an extra interest of up to 0.30 per cent for senior citizens on their Care Fixed Deposits. This means that the interest of senior citizens is 0.80 percent more than the interest received by the rest of the customers. Let us know here about the Special FD Schemes of these two banks.
SBI Special Wecare Deposit
SBI Wecare Deposit is offering excellent returns to its Senior Citizen customers. Senior citizens are getting additional interest of up to 0.30 per cent over and above the fixed deposit, if they make a term deposit of less than Rs 2 crore for a period of 5 years or more.
Let us tell you that SBI currently offers 0.50 percent additional interest on FD to its senior citizen customers over and above the regular interest rate. This means that on the maturity period mentioned under ‘SBI Wecare Deposit’, Senior Citizens will get a total interest of 0.80 percent more than the regular interest rate till September 30, 2022. People will get the benefit of this extra interest by getting a new FD or renewing the old FD.
HDFC Bank Senior Citizen Care FD
HDFC Bank is offering 0.50 percent extra interest to its senior citizen customers on maturity period in case of FDs of less than Rs 5 crore. Under Senior Citizen Care FD, an additional 0.25% interest is being offered to senior citizens on FDs with a tenure of ‘5 years 1 day to 10 years’ till 30 September 2022. That is, on this maturity period, they can get a total interest of 0.75% more than the regular interest rate. Apart from those opening a new FD account, those who renew the account will also get the benefit of this special offer of the bank.
Let us tell you that the interest received on premature closure of the fixed deposit in HDFC Bank Senior Citizen Care FD before the completion of 5 years, will be 1% less than the fixed rate. On closing the FD prematurely on completion of 5 years, the interest will be 1.25 percent less than the fixed rate.
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