Senior Citizens Special Fixed Deposit: The scheme of many big banks is going to be closed. This scheme was carried forward many times in the past, but now it is not expected to be extended. So take advantage immediately.
Senior Citizens Special Fixed Deposit: The excellent scheme run by many big banks for senior citizens is now going to be closed. Actually, SBI, HDFC Bank, ICICI Bank and Bank of Baroda run special FD schemes. This scheme will be closed from 1st April 2022. This scheme was launched by banks for senior citizens in May 2020. Before the bank closes this scheme, you should take advantage of it in time.
What is Special FD Scheme
Under this special fixed deposit scheme, senior citizens get more interest than ordinary FDs. It is worth noting that most of the banks offer higher interest rate to senior citizens, but, in special FD, the benefit of additional interest rate is being given on that interest rate. In Fixed Deposit with Selected Maturity Period, senior citizens get an additional interest of up to 0.50 percent over the applicable interest rate, that is, up to 1 percent more interest than the regular customer gets.
The scheme has been extended several times
Banks have extended this scheme many times. This scheme was first extended till 30 September 2020, then 31 December, then till 31 March 2021, after March it was extended till 30 June 2021 then it was extended till 30 September 2021. After that it was extended till 31 March 2022. Let us know which bank is offering what through this special FD scheme.
SBI Wecare Deposit Special FD Scheme
SBI, the country’s largest public sector lender, had announced SBI WECARE Senior Citizens Term Deposit Scheme for senior citizens in May 2020. Under this, 0.80 percent higher rate for senior citizens on FDs of more than 5 years. will get interest from
Bank of Baroda Special FD Scheme
BoB is giving 100 basis points i.e. 1% more interest to senior citizens under the ‘Special Senior Citizens FD Scheme’.
ICICI Bank Special FD Scheme
ICICI Bank runs a scheme named ‘ICICI Bank Golden Years’ for senior citizens. Under this, the elderly who have FD are given 80 basis points more interest than the common people.
HDFC Bank Senior Citizen Care FD
HDFC Bank had started a scheme for senior citizens called ‘Senior Citizen Care FD’. Under this, the bank is offering an additional premium of 0.25 percent on FD.
