New Delhi: Private sector leading HDFC Bank is running Senior Citizen Care, a special FD scheme with the highest interest rate to give higher returns to its investors. The date of investment in this FD scheme has been extended for 3 months. Now the last date for investment is 7 November 2023. Earlier, the last date for investment had ended on July 7, 2023.
Interest rate on Senior Citizen Care FD
In May 2020, HDFC Bank launched the Special Fixed Deposit Scheme (Senior Citizen Care FD). Under the Citizen Care FD scheme, HDFC Bank is offering 0.25% additional interest rate to its investors on deposits below Rs 5 crore as compared to other FDs. Whereas, the bank already gives 0.50% higher interest rate to senior citizens as compared to other FDs. In this way, the total interest rate on this special FD scheme has increased by 0.75 percent.
According to the bank, the amount can be invested in the Senior Citizen Care Scheme for a tenure of five years from one day to 10 years, on which investors will get an interest rate of 7.75 percent. Investments can be made in this special care FD till 7 November 2023.
HDFC FD Interest Rates
HDFC Bank is offering interest rates between 3.5 per cent to 7.50 per cent for general citizens and senior citizens with tenures ranging from 7 days to 10 years. While 0.25 percent additional interest rate is available on Special Senior Citizen Care FD.
FD Premature Withdrawal Penalty
According to HDFC Bank, 1 percent of the interest rate applicable for premature closure of fixed deposit scheme will be reduced as penalty. The same penalty is applicable for all FD schemes except fixed deposits booked for a period of 7 to 14 days.
SBI and ICICI Bank also extended the investment date
HDFC Bank has extended the investment date in Senior Citizen Care FD scheme till 7th November. Whereas, SBI has extended the investment date for its special FD scheme VCare for senior citizens till 30 September 2023. At the same time, ICICI Bank has also extended the investment date in Golden Years FD for senior citizens.
