Senior citizens special FD scheme: Bank Fixed Deposit (FD) is considered to be one of the best investment options for senior citizens.
Amidst the falling interest rates due to the Coronavirus Pandemic, many banks like State Bank of India (SBI), HDFC bank and ICICI bank had started special FD scheme to provide relief to senior citizens. . Let us know which bank gives the highest interest to senior citizens on special FD-
SBI’s Special FD Scheme Interest Rate
SBI’s special FD scheme for senior citizens is We Care. SBI is offering an additional 30 bps interest rate to senior citizens on FDs with tenure of 5 years and above. If a senior citizen makes a fixed deposit under the special FD scheme, then the interest rate applicable on the FD will be 6.20 percent. These interest rates are effective from 15 January 2022.
ICICI Bank’s Special FD Scheme Interest Rate
ICICI Bank has Golden Years FD scheme for senior citizens. The bank is giving 80 bps more interest rate on this scheme ICICI Bank Golden Year FD scheme will give 6.35% per annum. These interest rates are effective from 20 January 2022.
HDFC Bank’s Special FD Scheme Interest Rate
HDFC Bank’s special FD scheme for senior citizens is called HDFC Senior Citizen Care. The bank offers 75 bps higher interest rate on these deposits. If a senior citizen makes a fixed deposit under HDFC Bank Senior Citizen Care FD, the interest rate applicable on the FD will be 6.25%. These interest rates are effective from 12 January 2022.
