HomeFinanceSenior citizens will get benefit, from SBI to HDFC gave this big...

Senior citizens will get benefit, from SBI to HDFC gave this big gift

The FD scheme has been extended by State Bank of India (SBI), HDFC Bank and Bank of Baroda (BOB) till 30 September 2021.

A large population of the country considers investment in FD i.e. fixed deposit as one of the safest ways. Especially when it comes to senior citizens, they trust FD the most. In view of these senior citizens, many big banks of the country have taken out a special FD scheme amid the Corona epidemic, whose last date has now been extended by three months. These include from SBI to HDFC Bank.

These special FD schemes have been extended by State Bank of India (SBI), HDFC Bank and Bank of Baroda (BOB) till 30 September 2021. On the other hand, the second largest private bank ICICI has extended the scheme till October 7, 2021.

When the corona epidemic that came last year has paralyzed the economy. During this everyone’s income has reduced. Some of the major banks have started offering FDs to senior citizens for tenures of 5 years and above with higher interest rates. All senior citizens are eligible for this. They are given a high interest of 50 basis points in the business. Apart from this, the additional interest rate is also higher than that. Let us know which bank is giving maximum return to senior citizens

SBI Scheme

SBI gives an interest rate of 30 basis points or 0.30% or more than the normal interest rate on these FDs. The bank has named this FD as “V-Care”. At present, SBI gives 5.40% interest to the general public on FDs between 5 and 10 years. Now senior citizens are getting 6.20% interest under the special scheme.

HDFC Bank Schemes

HDFC Bank has come out with a special scheme for senior citizens named ‘Senior Citizen Care FD’. Under this scheme, the country’s largest private bank is offering an additional 0.25% interest. Usually HDFC gives 5.5% interest on FDs between 5 to 10 years to customers of 60 years or less. Whereas through this special scheme, the bank is giving 6.25% interest to senior citizens.

Scheme of Bank of Baroda (BOB)

Bank of Baroda is giving more benefits under this special scheme. The bank is offering one percentage point or 100 basis points to senior citizens under the special scheme as compared to normal customers. Between 5 to 10 years, the bank is giving an interest of 5.25% on FDs to customers below 60 years of age. While it is giving 6.25% interest to customers above 60. This rate is higher than the normal 50 basis points for senior citizens.

ICICI Bank Scheme

ICICI Bank has named this FD scheme as ‘Golden Years Fixed Deposit’. Under this scheme,

senior citizens, if they deposit Rs 2 crore or less, get an interest of 0.30% i.e. 30 basis points. At the same time, on depositing the amount for 5 to 10 years, an additional interest of 0.50% is available every year. ICICI Bank gives an interest of 5.5% for the general public on FD for 5 to 10 years. But senior citizens can charge an interest of 6.3% per annum on deposits less than Rs 2 crore.

Pravesh Kumar is associated with Informalnewz since last 5 years and head content department. He has done bcom in finance and loves writing.


Please enter your comment!
Please enter your name here

Most Popular