HDFC Bank, ICICI Bank extend senior citizens special FD scheme till March 31

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Special fixed deposit (FD) scheme for senior citizens has been extended till March 31 by HDFC Bank, ICICI Bank. Special FD scheme was launched in May 2020 to safeguard the interests of senior citizens as the interest rates were falling rapidly amid the coronavirus pandemic.

Extra interest rates over the existing rates on fixed deposits (FD) applicable for senior citizens on these FDs are offered by top lenders like State Bank of India (SBI), HDFC Bank, and ICICI Bank.

Special FD scheme for senior citizens by HDFC bank

The scheme is known as 'HDFC Senior Citizen Care'. HDFC Bank provides a 75 bps higher interest rate on these deposits. If a senior citizen puts a fixed deposit under HDFC Bank Senior Citizen Care FD, then the interest rate applicable to the FD will be 6.25 percent. These rates are applicable from November 13.

Special FD scheme for senior citizens by ICICI Bank:

'ICICI Bank Golden Years' is the name of the scheme. ICICI Bank offers an 80 bps higher interest rate on these deposits. Under this scheme, the bank offers an interest rate of 6.30 percent per annum. These rates are effective from October 21.