Senior Citizen Highest Return: These 4 banks are giving excellent returns on Senior Citizen FD, check immediately

Fixed deposit (FD) is a traditional and reliable investment option. People have been planning their retirement with fixed deposits since the era of father-grandfathers.

New Delhi: Fixed Deposit (FD) is a traditional and reliable investment option. People have been planning their retirement with fixed deposits since the era of father-grandfathers. Because fixed deposits are considered very safe from investment point of view and returns are also good.

Also Read: Income Tax Return extends new deadline to file ITR for 2019-20, know new date

It is not that in today’s time the brightness of fixed deposits has reduced. Even today people see FD as a better investment option. We are going to tell you about senior citizen fixed deposits of four big banks.

SBI V-Care FD Scheme

SBI has a special fixed deposit scheme for senior citizens, named SBI V Care. This scheme is for 31 December 2020, although earlier this scheme was over on 30 September. It was later extended. Money can be deposited in this scheme for a minimum of 5 years and for a maximum of 10 years. If you invest in it now, you will get 6.20 percent interest. This interest rate is 0.80 higher than the normal FD rate. This rate is applicable from 10 September. On the other hand, if you withdraw money before the fixed period, then you may have to pay 0.5 percent penalty.

HDFC Bank Senior Citizen Care FD Scheme

Private bank HDFC Bank also has a special fixed deposit scheme for senior citizens. The name of this scheme is HDFC Senior Citizen Care. You can also get this special FD by 31 December 2020. In this, the duration of FD is from 5 years to 1 year to 10 years. For this period FD will get 6.25 percent interest. Here also you get 0.75 percent more interest than normal FD. Apart from those who open a new FD account by December 2020, it will also benefit those who renew their accounts. If FDs break before 5 years, you will have to pay a penalty of 1 percent. If you withdraw after five years, then this penalty will be 1.25 percent.

ICICI Bank Golden Years FD Scheme

ICICI Bank also has a special fixed deposit for senior citizens. The name of this scheme is ICICI Bank Golden Years. The duration of this scheme is also 5 years, 1 day to 10 years. In this, you will get 6.55 percent interest on FD. This is 0.80 percent more than normal. If you withdraw money before 5 years 1 day, then 1 percent penalty will be charged and if you withdraw after 5 years 1 day, you will have to pay 1.30 percent penalty.

Bank of Baroda’s Special FD Scheme

In the case of a collateral FD of less than Rs 2 crore in Bank of Baroda, 0.50 per cent higher interest is applicable on all FD periods for senior citizens. But given the special circumstances of Kovid 19, under the special offer, 1% higher interest is being offered to senior citizens on the period of ‘5 years to 10 years’, which will now be applicable till 31 December 2020. In the Bank of Baroda, the elderly are currently getting interest ranging from 3.40 per cent to 6.30 per cent on FD.

 

The post Senior Citizen Highest Return: These 4 banks are giving excellent returns on Senior Citizen FD, check immediately appeared first on informalnewz.