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This bank extended the deadline of Senior Citizen Special FD Scheme to 8 October

Senior Citizen Special FD SchemeThere is good news for senior citizens investing their hard earned money by getting fixed deposits in banks. Private sector giant ICICI Bank has extended the deadline of its Special Senior Citizen Deposit Scheme from April 8 to October 7, 2022. Earlier this special FD scheme was ending on 8 April.

In 2020, the bank launched the special deposit scheme
It is worth noting that since the start of the Corona epidemic in the year 2020, most of the banks had cut the interest rate of their FD schemes. After this, in May 2020, ICICI Bank started the ICICI Bank Golden Years FD scheme to give special benefits to senior citizens. Under this scheme, bank senior citizens get 5.60 percent interest rate. Senior citizens get 0.50 percent interest separately, but under this scheme, 0.25 percent interest is given separately. That is, under the ICICI Bank Golden Years FD scheme, senior citizens get an interest of 6.35 percent. The benefit of this additional rate will also be available on renewing old deposits with new deposits.

This benefit is available on Special FD scheme
Let us tell you that senior citizens get 0.50 percent more rate of interest than ICICI Bank general citizens. At the same time, under this scheme, senior citizens get an additional 0.25 percent more rate of interest. In such a situation, senior citizens get 5.60 percent interest rate on a period of 5 years 1 day to 10 years.

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You can take advantage of the scheme till 7 October
If a person above 60 years of age pays 5.60 percent interest on FD between 5 years to 10 years from 20 May 2020 to 8 April 2022. If you also want to take advantage of this scheme, then you can make FD in the bank under this scheme till October 7.

Special FD scheme of other banks
Let us tell you that along with ICICI Bank, SBI and HDFC Bank had also started such a scheme in which senior citizens are being offered higher interest rate on FD. SBI is still continuing its scheme. Now ICICI Bank has also decided to continue the ICICI Bank Golden Years FD scheme after April 8.

HDFC Bank Special FD Scheme
HDFC Bank’s special FD scheme for senior citizens has been launched in the form of HDFC Senior Citizen Care Bank. Under this scheme, 75 basis points more interest is available on fixed deposits. Senior citizens will be given an additional interest of 0.25% over and above the existing interest of 0.50%. This scheme is applicable on FDs above 5 years and up to 10 years. If a senior citizen makes a fixed deposit under HDFC Bank Senior Citizen Care FD, then he will get 6.35 percent interest.

SBI Special FD Scheme
SBI has given a gift to the senior citizens. SBI has decided to extend the deadline for senior citizens to invest in special fixed deposits. Now senior citizens can invest in SBI WeCare scheme till 30 September 2022. According to SBI’s website, SBI WeCare Special Scheme, which was started for senior citizens, under which 30 basis points i.e. 0.30 percent additional interest is available on retail term deposits of 5 years or more.

Let us tell you that banks give 50 basis points more interest to senior citizens in the same way. A separate 30 basis points more interest is being given to senior citizens under the SBI WeCare scheme on top of the interest on it. SBI WeCare scheme is being extended till 30 September 2022. This means that the bank is paying 0.80 percent more interest than the common people under this scheme to senior citizens on term deposits with a tenure of more than 5 years. Offering 5.50 per cent on term deposits of tenure of 5 years or more. But senior citizens will get 6.30 percent interest on the special FD scheme under SBI WeCare.


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