Generally Senior citizens prefer safer avenues as they can’t risk their hard-earned money. But falling interest rates makes them to be in dilemma as Banks are decreasing interest rates on Quarter-on-Quarter.
Here is the Good News for Senior Citizens who are searching for higher interest rates!. Due to the latest Pandemic, to protect the income layer of senior citizens, Banks have come-out with “Special” FD Schemes exclusively for Senior Citizens.
Here are the “Special” FD Interest Rates for Senior Citizens offered by the various Banks-
|Bank Name||Scheme Name||Tenure||Interest Rate||Valid Up to|
|HDFC||HDFC “Senior Citizen Care”||5 Years 1 day to 10 Years||6.25||30 September 2021|
|ICICI||ICICI “Golden Years”||5 Years 1 Day to 10 Years||6.30||October 7th, 2021|
|SBI||“WeCare”||5 to 10 Years||6.20||30 September 2021|
|Bank of Baroda||Special FD Scheme||5 to 10 Years||6.25||September 30, 2021|
Do remember, these are “Special FD” Schemes and are valid for a specific Period mentioned above. The Bank may or may not extend the scheme further.
If you are a senior citizen and are looking for higher interest rates over and above the normal FD’s, don’t delay further; Rush to your nearest Bank and make use of the scheme as these are valid up to specific period only.