HDFC Bank has given a big relief to its senior citizen customers. The bank has extended the deadline for Senior Citizen Special FD started during COVID-19. The bank will continue to offer higher interest rates on these special FDs for senior citizens. Now this deadline has been extended to 30 September 2022. Let us know the complete details about this special FD scheme.
It is also called as Senior Citizen Care FD Scheme. This special FD was launched on 18 May 2020 for the investment of senior citizens during the Corona pandemic. Amidst falling interest rates this scheme was offered by various Indian banks like State Bank of India (SBI), ICICI Bank, Bank of Baroda, HDFC Bank etc.
According to the information given on HDFC Bank, if a citizen invests Rs 5 crore for 1 day to 10 years, then he will be given an additional premium of 0.25% till 30 September’2022, which will be 0.50% over the existing premium . That is, there will be a benefit of 75 basis points (bps).
The bank is giving 6.35% interest on this special FD to its customers. That is, if a senior citizen makes a fixed deposit under HDFC Bank Senior Citizen Care FD, then the interest rate applicable on the FD will be 6.35%. These rates are applicable from 14 February 2022.
Let us inform that the effect of COVID-19 is still not over, due to which the interest rates have been increased. That is, if someone is planning to invest in this FD, then he can invest before 30 September.