HDFC Special Fixed Deposit Scheme: If you are a customer of the big private sector bank i.e. HDFC Bank, then this news is meant for you. The bank had launched a special FD scheme in May 2022 for its senior citizen customers. The name of this scheme is Senior Citizen Care (HDFC Senior Citizen Care) FD Scheme which the bank has decided to pursue. Now customers will be able to take advantage of this scheme till March 2023. This scheme was to end on 30 September 2022, but now the deadline of this scheme has been extended till 31 March 2023. The bank launched this HDFC Bank Senior Citizen Care FD scheme on 18 May 2022. Under this scheme, the bank is offering 6.50% interest rate to senior citizens over a period of 5 to 10 years.
Interest rate of 0.75% is available from ordinary citizens-
Let us tell you that HDFC Bank is offering 5.75% interest rate to ordinary citizens on FDs of 5 years 1 day to 10 years. At the same time, 6.50% interest rate is available under the Senior Citizen Care FD Scheme. This is 0.75% higher interest rate than the FD of common people. Now you can invest in this scheme till March 2023. It is worth noting that HDFC Bank has taken this decision because RBI has decided to increase its repo rate for the fourth time in a row. In such a situation, the bank wants to give more benefits to its customers above 60 years of age through this FD scheme.
These banks also extended the period of their special FD scheme-
Apart from HDFC Bank, there are many other banks which have decided to extend the tenure of their special FDs. IDBI Bank has also decided to extend the tenure of its IDBI Naman Senior Citizen FD Scheme. Under this scheme, senior citizen customers get 0.75% higher interest rate than ordinary citizens. You can invest in this FD scheme of IDBI Bank till 31 October 2022.
At the same time, customers get 0.80% higher interest rate on FD schemes of more than 5 years under the Vacare Senior Citizen Term Deposit Scheme of State Bank. The bank has extended the deadline of this scheme. You can invest in SBI’s Wecare Deposit scheme scheme till March 2023. All these banks have done their special FD scheme after the decision of RBI to increase the repo rate to 5.90%.
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