HDFC Bank has extended the last date for opening an account in a special FD scheme for senior citizens. The last date to invest in this scheme has been extended from March 31, 2022, to September 30, 2022. The name of this FD scheme is the Senior Citizen Care FD scheme.
The scheme is offering an additional 0.25% interest to senior citizens. The premium is over and above the existing premium of 0.50 which is offered in the FD scheme. Hence, in total, the FD scheme is giving an extra 0.75% higher interest rate than regular customers.
On its official website, HDFC said, “An additional premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18th May’20 to 30th September 2022.”
HDFC Bank had launched this scheme on May 18, 2020, intending to provide senior citizens with better investment options as the FD rates were falling since then.
Currently, HDFC Bank is offering an interest rate of 6.35% to investors who open accounts in the Senior Citizen Care FD scheme for 5 years.