India’s main banks State Bank of India (SBI), HDFC Bank, ICICI Bank, and Bank of Baroda (BoB) are offering extra rates of interest in opposition to the present charges on fastened deposits (FD) for senior citizens. Started in May 2020, the particular FD scheme was prolonged two instances in the midst of the COVID-19 pandemic.
However, these schemes will come to an finish on March 31 besides for SBI which has given its extension until June 30, 2021.
HDFC Bank particular FD scheme
Known as HDFC Senior Citizen Care, HDFC Bank’s scheme offers a 75 bps greater rate of interest on the deposits and if the deposit is beneath HDFC Bank Senior Citizen Care FD, then the rate of interest turns into 6.25%. These charges are relevant from 13 November.
ICICI Bank particular FD scheme
Called ICICI Bank Golden Years, this financial institution offers an 80 bps greater rate of interest on the deposits. This FD scheme gives an rate of interest of 6.30% each year to senior citizens and these charges are efficient 21 October.
Bank of Baroda particular FD scheme
Bank of Baroda offers 100 bps greater on the deposits and if the fastened deposit is put beneath the particular FD scheme (above 5 years to as much as 10 years), the rate of interest turns into 6.25% and these are efficient from November 16.
