Money

Senior citizens special fixed deposit (FD) scheme of SBI, HDFC Bank, ICICI, Bank of Baroda ends this month

Senior citizens special fixed deposit (FD) schemes are provided by high lenders. Under this scheme, further rates of interest are being offered by these banks over the prevailing charges relevant for them on time period deposits. Amid the coronavirus pandemic, this special FD scheme was launched in May to safeguard the pursuits of senior citizens because the rates of interest had been falling quickly. This special FD scheme is offered for senior citizens until 31 March 2021.

SBI special FD scheme for senior citizens



SBI special FD scheme for senior citizens will fetch 80 foundation factors (bps) curiosity rate above the rate relevant to most of the people. At current, SBI provides a 5.4% curiosity rate on 5 years FD for most of the people. If a senior citizen places a fixed deposit underneath the special FD scheme, then the curiosity rate relevant to the FD might be 6.20%.

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HDFC Bank special FD scheme for senior citizens

HDFC Bank presents a 75 bps greater curiosity rate on these deposits. If a senior citizen places a fixed deposit underneath HDFC Bank Senior Citizen Care FD, then the curiosity rate relevant to the FD might be 6.25%.

ICICI Bank special FD scheme for senior citizens

ICICI Bank presents an 80 bps greater curiosity rate on these deposits. ICICI Bank Golden Years FD scheme presents senior citizens an curiosity rate of 6.30% every year. 6.30%.

Bank of Baroda special FD scheme for senior citizens

Bank of Baroda (BoB) presents 100 bps greater on these deposits to senior citizens. Under the special FD scheme (above 5 years to as much as 10 years), if a senior citizen places a fixed deposit, then the curiosity rate relevant to the FD might be 6.25 per cent.

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