Banks across the country are offering special FD schemes with attractive interest rates to lure customers. Here’s a rundown of some such schemes offering higher interest rates compared to regular FDs:
Many banks are offering attractive interest rates on fixed deposits (FDs), making them a great option for seniors looking to save.
Banks are enticing seniors with extra benefits, such as 50 basis points more than what they offer to the general public. SBI and HDFC even have special FD schemes, granting seniors 75 basis points higher interest rates than usual.
Schemes like SBI Green Rupee Term Deposit sweeten the deal further, offering an extra 100 basis points for retail deposits lasting 2222 days.
Furthermore, schemes like SBI Green Rupee Term Deposit provide an extra 100 basis points for retail deposits held for 2222 days.
Leading banks such as SBI and HDFC have even introduced special FD schemes with a 75 basis point increase for seniors compared to regular rates.
SBI Amrit Kalash Scheme: General customers can earn a 7.10% interest rate on a 400-day FD, while senior citizens enjoy a 7.60% rate. Deadline: September 30, 2024.
SBI Wecare FD Scheme: Designed for senior citizens, offering 50 basis points (BPS) higher interest rates on FDs for 5 to 10 years compared to regular FDs. Deadline: September 30.
IDBI Utsav FD Scheme: General citizens earn 7.25% on a 444-day FD, while senior citizens get 7.75%. On the 375-day Amrit Mahotsav Scheme, general citizens earn 7.10%, and seniors earn 7.60%. Deadline: June 30, 2024.
HDFC Senior Citizen Care FD Scheme: Open for investment until April 15, offering senior citizens an additional 0.75% interest compared to regular customers on FDs for 5 to 10 years.
Indian Bank’s High-Interest FD Schemes: Offering an 8% interest rate on 300 and 400 day FDs – Ind Super 400 and Ind Supreme 300.
