FD scheme for senior citizens, know which bank is paying the highest interest

FD scheme for senior citizens: The period of special FD schemes that have been started for senior citizens is December 31, 2020. Therefore, they should get FD by this period. It may be that interest rates will be cut next year.

Almost all banks in the country run special FD schemes for senior citizens, which get higher interest than the common depositor. Many banks, including public bank SBI to private sector banks, ICICI Bank, HDFC Bank, Axis Bank, pay higher interest on their deposits in schemes meant for the elderly. The period of special FD schemes that have been started for senior citizens is December 31, 2020. Therefore, they should get FD by this period, maybe there will be a cut in interest rates next year.

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HDFC and ICICI Bank

HDFC Bank is offering more than 75 basis points of interest on fixed deposits under the HDFC Senior Citizen Care Scheme. On such a five-year special FD scheme, interest is getting at the rate of 6.25 percent. This scheme is applicable from 13 November. ICICI Bank pays 80 basis points more interest to senior citizens making fixed deposits under the Golden Years scheme. Under this scheme, senior citizens are getting interest at the rate of 6.30 percent.

SBI

SBI is also giving 80 basis points more interest to senior citizens. 6.20 percent interest is being given on five-year special FD for senior citizens.

Bank of baroda

Bank of Baroda pays one percent more interest on FD under Senior Citizen Scheme. Senior citizens are getting 6.25 percent interest on fixed deposits of five years or more.