HDFC Bank Extends Senior Citizen Care FD Scheme Deadline till July 7, 2023
India’s largest private bank, HDFC Bank, has extended the deadline for senior citizens to invest in its special fixed deposit scheme, Senior Citizen Care FD. Launched in May 2020 amid the Covid pandemic, the scheme offers an additional interest rate of 25 basis points (bps) to senior citizens over and above the existing premium of 50 bps. The benefit of this increased rate of interest is available on tenures from one day to 10 years. The bank has extended the deadline for investment in the scheme till July 7, 2023.
Here is everything you need to know about the HDFC Bank Senior Citizen Care FD scheme:
– The scheme offers an interest rate of 7.75% for a tenure of five years from one day to 10 years.
– The additional interest rate of 25 bps is applicable to senior citizens only.
– In case of premature withdrawal, a reduction of 1% in interest will be applicable for a tenure of five years, while a 1.25% reduction in interest will be applicable for tenures of five years or more.
– The scheme is applicable for FDs up to INR 5 crores.
HDFC Bank has always prioritized the needs of senior citizens and this special fixed deposit scheme is another step towards fulfilling that commitment. With the extension of the deadline, more senior citizens can now avail of this scheme and earn higher returns on their investments.
In conclusion, HDFC Bank’s Senior Citizen Care FD scheme is a great investment option for senior citizens looking for higher returns on their fixed deposits. With the extension of the deadline, interested senior citizens have ample time to invest in the scheme and maximize their returns.
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