4 Special FD Schemes For Senior Citizens Which They Can Opt Before 31st March 2021
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SBI Special FD Scheme
The interest rate on SBI’s special FD scheme for senior citizens will be 80 basis points (bps) higher than the general public rate. SBI currently offers a 5.4 percent interest rate on five-year deposits to the general public. For the same tenure under this special FD scheme of SBI senior citizens will be granted with an interest rate of 6.20%.
| Tenure | ROI for senior citizens |
|---|---|
| 7 days – 45 days | 3.40% |
| 46 days – 179 days | 4.40% |
| 180 days – 210 days | 4.90% |
| 211 days – 364 days | 4.90% |
| 1 year – 1 year 364 days | 5.40% |
| 2 years – 2 years 364 days | 5.60% |
| 3 years – 4 years 364 days | 5.80% |
| 5 years – 10 years | 6.20% |
HDFC Special FD Scheme
On 5 year deposits, HDFC Bank pays a 75 basis point higher interest rate. The interest rate on a fixed deposit for senior citizen under the HDFC Bank Senior Citizen Care FD is capped at 6.25 per cent whereas non-senior citizens will get an interest rate of 5.5% respectively.
| Tenure | ROI for senior citizens |
|---|---|
| 7 – 14 days | 3.00% |
| 15 – 29 days | 3.00% |
| 30 – 45 days | 3.50% |
| 46 – 60 days | 3.50% |
| 61 – 90 days | 3.50% |
| 91 days – 6 months | 4.00% |
| 6 months 1 day – 9 months | 4.90% |
| 9 months 1 day < 1 Year | 4.90% |
| 1 Year | 5.40% |
| 1 year 1 day – 2 years | 5.40% |
| 2 years 1 day – 3 years | 5.65% |
| 3 year 1 day- 5 years | 5.80% |
| 5 years 1 day – 10 years | 6.25% |
ICICI Bank Special FD Scheme
On the same deposits for 5 years, ICICI Bank pays an 80 basis point higher interest rate. The ICICI Bank Golden Years FD scheme pays a 6.30 per cent annual interest rate to senior citizens whereas non-senior citizens will get an interest rate of 5.5% for the same tenure.
| Tenure | ROI for senior citizens |
|---|---|
| 7 days to 14 days | 3.00% |
| 15 days to 29 days | 3.00% |
| 30 days to 45 days | 3.50% |
| 46 days to 60 days | 3.50% |
| 61 days to 90 days | 3.50% |
| 91 days to 120 days | 4.00% |
| 121 days to 184 days | 4.00% |
| 185 days to 210 days | 4.90% |
| 211 days to 270 days | 4.90% |
| 271 days to 289 days | 4.90% |
| 290 days to less than 1 year | 4.90% |
| 1 year to 389 days | 5.40% |
| 390 days to < 18 months | 5.40% |
| 18 months days to 2 years | 5.50% |
| 2 years 1 day to 3 years | 5.65% |
| 3 years 1 day to 5 years | 5.85% |
| 5 years 1 day to 10 years | 6.30% |
| 5 Years (80C FD) – Max to Rs 1.50 lac | 5.85% |
BOB Special FD Scheme
Senior citizens will get 100 basis points more on these deposits at Bank of Baroda (BoB). If a senior citizen places a fixed deposit in the special FD scheme (over 5 years to up to 10 years), the return he or she will get is 6.25%.
| Tenure | ROI for senior citizens |
|---|---|
| 7 days to 14 days | 3.30% |
| 15 days to 45 days | 3.30% |
| 46 days to 90 days | 4.20% |
| 91 days to 180 days | 4.20% |
| 181 days to 270 days | 4.80% |
| 271 days & above and less than 1 year | 4.90% |
| 1 year | 5.40% |
| Above 1 year to 400 days | 5.50% |
| Above 400 days and up to 2 Years | 5.50% |
| Above 2 Years and up to 3 Years | 5.60% |
| Above 3 Years and up to 5 Years | 5.75% |
| Above 5 Years and up to 10 Years | 6.25% |
| Above 10 years | 5.10% |
Note
Deposit Insurance and Credit Guarantee Corporation (DICGC) is a completely owned affiliate of RBI. Customers’ deposits in a commercial or small finance bank are insured by deposit insurance by this subsidiary. You are covered by the DICGC insurance cover up to Rs. 5 lakh for both principal and interest in an organised bank.
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