Senior citizen FD rates: These banks are offering higher interest rates to senior citizens, know details

Senior citizen FD rates: Bank of Baroda (BoB) is offering one percent higher interest rate to senior citizens.

Special bank FD schemes: Many banks are offering special FD schemes from senior citizens, in these schemes, higher interest rates are offered as compared to normal FDs. Senior citizens get additional interest rate on investments made in such schemes. In view of the coronavirus pandemic, the deadline for special bank FD schemes for senior citizens has been extended from June 30, 2021 to September 30, 2021. Let us know about the special FD schemes of various banks.

SBI Special FD Scheme

The name of this special FD scheme of SBI is SBI Wecare “SBI Wecare”. Senior citizens get an interest rate of 0.80 percent (0.50+0.30) higher than the rate available to regular investors in this special FD scheme of SBI. Currently, SBI offers 5.4% interest rate to the general public on FDs of five years. Whereas the current interest rate for senior citizens under the special FD scheme with tenure of five years or more is 6.20%.

ICICI Bank special FD

ICICI Bank has started ICICI Bank Golden Years FD scheme under the special FD scheme for senior citizens. In this FD scheme, ICICI Bank is offering 0.80 percent higher interest rate to senior citizens as compared to normal FD depositors. ICICI Bank is offering 6.30 per cent interest rate to senior citizens on FDs for tenures of 5 years and above.

HDFC Bank Special FD Scheme

The name of the special FD scheme brought by HDFC Bank for senior citizens is HDFC Older Citizen Care. In this scheme, an additional interest rate of 0.75% is being offered to senior citizens on FDs of less than Rs 5 crore with tenures ranging from five years one day to 10 years. In this way, the interest rate on FD for senior citizens in this scheme is 6.25 percent.

Bank of Baroda Special FD Scheme

Bank of Baroda (BoB) is providing one percent higher interest rate to senior citizens in this scheme. If a senior citizen deposits in this scheme, then the interest rate available for FDs of more than five years and up to ten years under the Special FD Scheme will be 6.25 percent.