New Delhi: In nice news for senior citizens of the nation, the final date for registering for the particular financial institution fastened deposit schemes for individuals above 60 has been extended to June 30, 2021, from March 31, 2021.
A number of banks had launched particular FD schemes for senior citizens in May 2020 providing an funding interval of 5 years or extra. All the investments had been entitled to an extra rate of interest of 0.80% or extra below this scheme, as a substitute of the standard 5.5% curiosity that banks supply. The advantage of this extra price of curiosity might be offered to all contemporary deposits in addition to renewal throughout the scheme interval.
Any Indian citizen above the age of 60 can now simply make investments on this long run scheme to get the utmost returns from fastened deposits. As of now, solely the State Bank of India (SBI), Bank of Baroda, ICICI Bank and HDFC Bank have launched their particular fastened deposit schemes for senior citizens.
Here’s how a lot extra curiosity you’ll get below FD schemes of various banks:
SBI has a ‘Wecare Deposit’ plan for Senior Citizens, below which individuals above 60 get an extra 0.3% curiosity on their fastened deposit investments for 5 years or extra. Investors will get a 6.2% rate of interest for a 10-year fastened deposit at SBI.
Meanwhile, ICICI Bank is providing the ‘Golden Years’ scheme to senior citizens. The financial institution is offering an extra 0.3% curiosity yearly on fastened deposits with a tenure of 5-10 years.
Similarly, HDFC Bank is providing an extra 0.25% rate of interest of its Senior Citizen Care FD whereas Bank of Banda’s FD scheme offers an extra 1% rate of interest on the fastened deposit schemes for the aged that comes with a tenure of 5-10 years.
#mute
