Banking: You can invest in HDFC's 'Senior Citizen Care FD' till June 30, you will get higher interest
After State Bank of India (SBI), now HDFC Bank has also extended the Special Fixed Deposit (FD) scheme for senior citizens. It can now be invested in till June 30. Earlier, the last date to invest in it was March 31.
Senior Citizen Care FD offers 0.75% higher interest
HDFC Bank has launched a scheme called 'Senior Citizen Care FD' for senior citizens. According to the bank, a senior citizen will get 0.75 per cent more interest on FDs of more than 5 years and 10 years duration than the average consumer.
The 5-year deposit will earn 0.50 per cent more interest than others. At present HDFC Bank is offering a maximum interest of 5.50% on fixed deposits, investing under this scheme will earn a maximum annual interest of 6.25%. How much interest is the bank paying on FD.
| Duration | Interest rate for general public (in%) | Interest rate (in%) for senior citizens in the scheme |
| 1 year | 4.90 | 5.65 |
| 1 year 1 day to 2 years | 4.90 | 5.65 |
| 2 years 1 day to 3 years | 5.15 | 5.90 |
| 3 years 1 day to 5 years | 5.30 | 5.80 |
| 5 years 1 day to 10 years | 5.50 | 6.25 |
The SBI also vikera deposit 'scheme extended until June 30,
is extended by the State Bank of India (SBI) is a senior citizens' vikera deposit' scheme 30 June. The scheme will earn higher interest to senior citizens. Under this scheme, senior citizens will get 0.80 per cent higher interest than fixed FD on fixed deposit (FD) for a period of 5 years or more.
As well as retail term deposits of less than 5 years will earn 0.50% higher interest than the average citizen. Customers who register in this scheme within the stipulated period will get benefit. At present, SBI is offering a maximum interest of 5.40% on fixed deposits.
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How much interest is SBI paying on FD
| Duration | Interest rate for general public (in%) | Interest rate (in%) for senior citizens in the scheme |
| 7 days to 45 days | 2.90 | 3.40 |
| 46 days to 179 days | 3.90 | 4.40 |
| 180 days to 210 days | 4.40 | 4.90 |
| 211 days to 1 year | 4.40 | 4.90 |
| More than 1 year and less than 2 years | 4.90 | 5.40 |
| More than 2 years and less than 3 years | 5.10 | 5.60 |
| More than 3 years and less than 5 years | 5.30 | 5.80 |
| More than 5 years and less than 10 years | 5.40 | 6.20 |
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