Senior Citizen Special FD Scheme: These banks are going to close these schemes giving more returns from April 1

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Senior Citizen Special FD Scheme : Many major banks of the country are running special FD schemes with higher interest rates for senior citizens after the Kovid-19 epidemic. Various Indian banks like State Bank of India (SBI), ICICI Bank, Bank of Baroda, HDFC Bank had offered short tenure special fixed deposit scheme. Due to the widespread impact of Corona, the timing of these special FD schemes was extended.

Now after two years of this special FD scheme for people above 60 years, two banks – HDFC Bank and Bank of Baroda may end this special offer for senior citizens. The expiry of their special FD scheme for senior citizens in these banks is coming to an end. The extension of these scheme is not being announced by these banks.

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5 days left to invest
If you still want to invest in this, then you have 5 more days left. After March 31, no senior citizen will be able to invest in this scheme. Senior citizen customers get attractive interest rates, high returns and safety on these FD schemes.

Here we are giving complete details of special FD scheme for senior citizens by these two banks.

HDFC Bank senior citizen special FD scheme: This private bank had started HDFC Bank Senior Citizen Care FD. This special FD scheme for senior citizens in HDFC Bank is offering an additional 0.25 percent return on their fixed deposits. Provided the period of deposit is 5 to 10 years. The deadline for this HDFC Bank Senior Citizen Care FD is 31 March 2022. It may expire from 1st April 2022. If further extension of the scheme is not announced by the given time limit.

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Bank of Baroda special FD scheme for senior citizens: Bank of Baroda is also running two special FD schemes for senior citizens. It is offering an additional 0.50 percent interest rate to senior citizens on fixed deposits of less than 2 crores. It is for a period of 7 to 5 years. Apart from this, an additional interest rate of 1 percent is offered to senior citizens for a tenure of 5 years to 10 years.

According to the website of Bank of Baroda, with effect from March 22, 2022, the revised FD interest rate regime is offering 5.35 percent annual return on tax saving FDs. If the age of the depositor is more than 60 years, then in that case the annual interest rate will increase to 6.35 percent. The deadline for this special FD scheme is 31 March 2022 and the public sector bank has not announced any further extension of this scheme. If further extension of the scheme is not announced, in that case, the scheme will be deemed to be terminated with effect from 1st April 2022.

Tags: Bank FD, Bank of Baroda, FD Rates, hdfc bank, Here you can get good interest on FD

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