Special senior citizen FDs with higher interest rates: SBI vs HDFC Bank vs ICICI Bank
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HDFC Bank Senior Citizen Care FD with higher interest rate extended to this dateAfter ICICI Bank and State Bank of India (SBI), HDFC Bank has extended its special fixed deposits for senior citizens with higher interest rates. Here is a comparison of interest rates of these special fixed deposits offered by SBI, HDFC Bank and ICICI Bank.SBI We care
SBI offers "SBI WECARE" deposit scheme to secure their income by providing higher interest rates on term deposits for senior citizens. The minimum tenure is 5 years and maximum up to 10 years. The interest rate on SBI Wecare is 7.50 percent.
The bank offers an additional premium of 50 bps (over and above existing premium of 50 bps) over card rate for Public i.e., 100 bps over card rate for Public, as per the website. As of now, the scheme is valid up to June 30, 2023. Note that the scheme is available on fresh deposit and renewal of maturing deposits.
SBI senior citizen FD rates
TenorsSenior Citizen7 days to 45 days3.546 days to 179 days5180 days to 210 days5.75211 days to less than 1 year6.251 Year to less than 2 years7.32 years to less than 3 years7.53 years to less than 5 years75 years and up to 10 years7.50@ 400 days (Special Scheme i.e. “ Amrit Kalash”)7.6
HDFC Senior Citizen Care FD
HDFC Bank has extended its special senior citizen fixed deposit to July 7, 2023. The bank offers an additional premium of 0.25% (above the existing premium of 0.50%) to Senior Citizens who book a Fixed Deposit of less than 5 crores for a term of five years one day to ten years. Under the scheme, the bank offers a 7.75% interest rate to senior citizens applying for these fixed deposits.
HDFC Bank senior citizen FD rates
TenorSenior Citizen Rates 7 - 14 days3.50%15 - 29 days3.50%30 - 45 days4.00%46 - 60 days5.00%61 - 89 days5.00%90 days 5.00%6 mnths 1 days 6.25%9 mnths 1 day to 6.50%1 year to 7.10%15 months to 7.60%18 months to 7.50%21 months - 2 years7.50%2 Years 1 day to 7.50%2 Years 11 Months (Special Edition FD - 35 Month)7.70%2 Years 11 Months 1 day 7.50%3 Years 1 day to 7.50%4 Year 7 Months (Special Edition FD - 55 month)7.75%4 Year 7 Months 1 day 7.50%5 Years 1 day to 10 Years7.75%*
ICICI Bank Golden years FD
ICICI Bank offers an additional FD interest rate 0.10% over and above the existing additional rate of 0.50% per annum for resident senior citizens. The scheme has no end date, scheme is applicable from May 20, 2020. The minimum tenure is 5 years 1 day, up to 10 years. The interest rate offered on this scheme is 7.50%.
ICICI Bank senior citizen FD rates
Maturity Period
Senior Citizen7 days to 14 days3.50%15 days to 29 days3.50%30 days to 45 days4.00%46 days to 60 days4.75%61 days to 90 days5.00%91 days to 120 days5.25%121 days to 150 days5.25%151 days to 184 days5.25%185 days to 210 days6.25%211 days to 270 days6.25%271 days to 289 days6.50%290 days to less than 1 year6.50%1 year to 389 days7.20%390 days to 7.20%15 months to 7.60%18 months to 2 years7.60%2 years 1 day to 3 years7.50%3 years 1 day to 5 years7.50%5 years 1 day to 10 years#7.50%5 Years (80C FD) – Max to `1.50 lac7.50%
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This story originally appeared on: India Times - Author:Faqs of Insurances
