New Delhi: Special mounted deposit schemes launched by a number of public and non-public banks in India for senior citizens are quickly going to finish. The schemes had been launched by the banks in May 2020 amid the Covid-19 pandemic for a quick time period.
The special FD schemes supply an extra interest price over and above the extra 0.5% price provided to senior citizens. Currently, the State Bank of India (SBI), HDFC Bank, ICICI Bank and Bank of Baroda are providing these special FD schemes to senior citizens, providing an funding interval of 5 years or extra.
Earlier, the final for making use of the scheme was March 31, 2021. But the final date was prolonged to June 30, 2021, early this yr. Any Indian citizen above 60 years of age can make investments on this long run scheme to get the utmost returns from mounted deposits.
SBI’s Wecare Deposit special FD scheme for senior citizens
SBI is providing a WeCare Deposit scheme, which affords an extra 0.80% interest price to long run FD investments made by senior citizens. Investors will get a 6.20% interest price on their funding.
HDFC’s Senior Citizen Care FD scheme for senior citizens
HDFC Bank has named its scheme for senior citizens as Senior Citizen Care FD. Investors get returns at a 6.25% interest price on their investments.
ICICI Bank Golden Years FD scheme for senior citizens
ICICI Bank is providing the Golden Years FD scheme with the next interest price to investments made by senior citizens. FD funding on this scheme fetches a 6.30% interest price yearly.
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