Big news for older people! HDFC Bank, a big bank in India, has a special deal for seniors.
They can put their money in a fixed deposit (FD) called Senior Citizen Care FD until May 10, 2024. This is a good deal because they get more interest on their money.
Usually, seniors get 0.50 percent extra interest on their FDs, but now HDFC Bank is giving them 0.25 percent extra, which is still good.
They will get 7.75 percent interest on FDs from 5 to 10 years, but the FD must be less than Rs 5 crore.
Interest Rates and Duration
Under this scheme, seniors can earn up to 7.75 percent interest on FDs held for a period of 5 to 10 years, provided the FD amount is less than Rs 5 crore.
For regular FDs (less than Rs 2 crore), seniors are offered varying interest rates based on the duration of their investment:
Enhanced Interest Rates
Seniors can avail themselves of this offer until May 10, 2024, and benefit from increased interest rates on their savings.
Usually, seniors receive an additional 0.50 percent interest on their Fixed Deposits (FDs). However, HDFC Bank is currently offering them an extra 0.25 percent interest, which remains advantageous.
For normal FDs (less than Rs 2 crore), seniors get different interest rates depending on how long they put their money in:
1) If they put it in for 7 to 14 days, they get 3.50 percent interest.
2) For 15 to 29 days, they get 3.50 percent interest.
3) And it goes up to 7.75 percent if they keep it for 5 years to 10 years.
The last day to put money in Senior Citizen Care FD is May 11, 2024. So, seniors should hurry if they want this good deal!”
Act Fast!
The deadline to take advantage of the Senior Citizen Care FD offer is May 11, 2024. Seniors are encouraged to act promptly if they wish to capitalize on this beneficial opportunity!
