You will now be able to invest in HDFC and ICICI Bank Special FDs till March 31, at a higher interest rate.
Investments under the HDFC Bank scheme are earning a maximum interest of 6.25 per cent
A maximum annual interest of 6.30% is earned on investments under ICICI Bank's special scheme.
The special fixed deposit scheme launched by HDFC and ICICI Bank for senior citizens can now be invested in till March 31. Earlier, the last date for investment in both the schemes was December 31. Under this scheme, senior citizens are getting higher interest as compared to normal FD. Earlier, State Bank of India (SBI) had extended the date for investment in its 'Wicker' scheme to March 31.
HDFC Bank's Senior Citizen Care Scheme
HDFC Bank has launched a scheme for senior citizens called Senior Citizen Care FD. According to the bank, senior citizens will pay 0.75% more than the interest paid to ordinary customers on fixed deposits of more than five years and less than 10 years. Senior citizens will get 0.50% interest on 5 year deposit than others. At present HDFC Bank is offering a maximum interest of 5.50% on fixed deposits, investing under this scheme will earn an interest of 6.25% per annum. Click here for more information regarding this scheme.
ICICI Bank's Golden Years FD Scheme
ICICI Bank has launched a special fixed deposit scheme for senior citizens called 'Golden Years FD'. Investors in this scheme will get 0.80 per cent higher interest than normal FD. Now senior citizens will get 6.55 per cent interest. Currently, ICICI Bank is offering the highest interest rate of 5.50 per cent on FDs of more than 5 years and over 10 years. This means that senior citizens will get 6.30 per cent interest under this scheme. The scheme will be applicable on deposits of up to Rs 2 crore for 5 years 1 day to 10 years. This scheme will also be applicable for renewal of old FD along with new FD. Credit card can also be taken on this scheme.
SBI has also launched a new scheme
State Bank of India (SBI) has launched a new deposit scheme for senior citizens called SBI Walker. The scheme will earn higher interest to senior citizens. The scheme is launched under the Retail Term Deposit segment. Under the scheme, senior citizens will get 0.80 per cent more interest than normal FDs. At present, SBI is offering a maximum interest of 5.40 per cent on fixed deposits. This means that investing under this scheme will earn 6.20 per cent interest.
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