Assuming you additionally consider a decent choice of Fixed Deposit FD for safe investment, then, at that point, this news is of your utilization. SBI, HDFC Bank, ICICI Bank and Bank of Baroda had thought of an extraordinary proposal for senior citizens in May 2020. You can avail higher interest rates till March 2022.
SBI has concocted ‘Wecare Deposit’ exceptional FD scheme for senior citizens. Presently you can avail higher interest rates till March 2022. In this, the advantage of 80 premise focuses more interest is being gotten from the rates appropriate to the overall population. Assuming a senior resident puts aside a decent installment under the unique FD scheme, then, at that point, the interest rate appropriate on the FD will be 6.20 percent.
Under SBI ‘Wecare Deposit’, senior residents get 30 premise focuses extra premium interest on deposits for a time of five years or more. Retail term deosits of under five years will get 0.50 percent more premium than customary residents. Simultaneously, senior residents will get 0.80 percent (0.50 +0.30) more premium on retail term deposits of over five years when contrasted with normal residents.
HDFC Bank presented Senior Citizen Care. The bank pays 0.75 percent more premium on these deposits. Assuming a senior resident puts aside a proper payment under HDFC Bank Senior Citizen Care FD, the interest rate appropriate on the FD will be 6.25%.
ICICI Bank has presented the ICICI Bank Golden Years scheme, an exceptional FD conspire for senior residents. The bank is offering 0.80 percent more premium in this plan. ICICI Bank Golden Year FD conspire is offering an interest rate of 6.30 percent per annum to senior residents. The advantage of this plan can be benefited till 08 April 2022.
