HDFC extends Senior Citizen Care FD scheme till March 2023, details here
FirstpostSenior citizens will receive a rate of 6.50 percent, which is an increase of 75 basis points over the regular rate under the bank’s Senior Citizen Care FD Some good news for senior citizens. The private sector lender has been offering Senior Citizen Care FDs as a special fixed deposit program with a higher interest rate benefit for senior citizens since May 2020. The bank gives a regular interest rate of 5.75 percent on fixed deposits expiring in 5 years, 1 day to 10 years, but senior citizens will receive a rate of 6.50 percent under the bank’s Senior Citizen Care FD, which is an increase of 75 basis points over the regular rate This is an advantage of the bank’s unique fixed deposit programme for seniors, which they may enroll in on or before March 2023. With regard to early withdrawals from Senior Citizen Care FDs, HDFC Bank has stated on its site that in case of early closure of fixed deposit booked in the above offer on or before 5 years, the interest rate will be one percent less than the agreed-upon rate or the base rate in effect during the time the deposit was with the bank, whichever is lesser.