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Tag: HDFC Bank special FD scheme for senior citizens

  • SBI and HDFC Bank discontinuing particular mounted deposit schemes from March 31

    Fixed deposits are a low-risk funding alternative because the rate of interest stays fixed through the length of the account. Fixed deposits typically present larger rates of interest than common financial savings accounts and in addition are inflation-beating, making them an interesting different for people trying to earn a greater return on their investments. A particular mounted deposit is a hard and fast deposit account with larger rates of interest than common mounted deposit accounts. 

    Banks usually present these accounts to entice clients to deposit cash over particular tenors that typically are available days. Special mounted deposits could also be topic to extra limitations, such at the least deposit quantity, an extended interval of deposit and a restricted time interval to open an account. Today we’re discussing two particular mounted deposit plans that aren’t solely provided by the 2 largest banks, SBI and HDFC however may even expire shortly on March 31, 2023, which mounted deposit buyers ought to concentrate on.

    SBI Amrit Kalash FD 

    SBI has talked about on its web site that “Bank has additionally launched particular tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f 15- Feb- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 31-Mar-2023.”

    SBI final raised rates of interest on mounted deposits of lower than ₹2 crore on February 15, 2023. After the change, the financial institution at the moment gives rates of interest starting from 3.00% to six.50% for most of the people and three.50% to 7.50% for aged people on deposit phrases starting from 7 days to 10 years. SBI is giving a most rate of interest of seven.10% for non-senior residents and seven.60% for senior residents for 400 days (Special Scheme i.e. “Amrit Kalash”) for a restricted time interval till 31-March-2023.

    HDFC Bank

    During the preliminary wave of the Covid-19 epidemic, the most important non-public sector lender in India, HDFC Bank, established a particular scheme “Senior Citizen Care FD” for older folks in May 2020. The programme has been extended many times and is now valid through March 31, 2023. 

    HDFC Bank has mentioned on its website that “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 31st Mar’2023. This special offer will be applicable to new Fixed Deposit booked as well as for the Renewals, by Senior Citizens during the above period. This offer is not applicable to Non-Resident Indian.”

    HDFC Bank gives an everyday fee of seven.00% on a deposit tenor of 5 years 1 day – 10 years, however senior residents will obtain an rate of interest of seven.75%, which is 75 foundation factors larger than the usual fee below the Senior Citizen Care FD. 

    Against untimely withdrawal of Senior Citizen Care FD, HDFC Bank has mentioned on its web site for senior residents that “​​​​​​​In case of untimely closure of Fixed Deposit booked within the above supply (together with sweep in / partial closure) on or earlier than 5 years, the rate of interest shall be 1.00% beneath the contracted fee or the bottom fee relevant for the interval the deposit has remained with the financial institution, whichever is decrease. ​​In case of untimely closure of Fixed Deposit booked within the above supply (together with sweep in / partial closure) publish 5 years, the rate of interest shall be 1.25% beneath the contracted fee or the bottom fee relevant for the interval the deposit has remained with the financial institution, whichever is decrease.”

     

     

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  • HDFC Bank hikes fastened deposit (FD) rates of interest by as much as 35 bps

    The main non-public sector lender HDFC Bank has hiked rates of interest on fastened deposits of lower than ₹2 Cr. As per the official web site of the financial institution, the brand new charges are efficient as of eighth November 2022. Following the modification, the financial institution elevated rates of interest on deposits maturing in 15 months to 10 years by as much as 35 bps. Now, HDFC Bank is offering rates of interest on fixed-term deposits (FDs) maturing in 7 days to 10 years that vary from 3% to six.25% for most of the people and from 3.50% to 7.00% for senior residents.

    HDFC Bank FD Rates

    The financial institution will proceed to present an rate of interest of three.00% on deposits maturing within the subsequent 7 to 29 days, whereas HDFC Bank will proceed to supply an rate of interest of three.50% on deposits maturing throughout the subsequent 30 to 45 days. Deposits that mature in 46 to 60 days will proceed to pay 4.00% curiosity, whereas those who mature in 61 days to six months will proceed to pay 4.50% curiosity. The rates of interest supplied by HDFC Bank will stay at 5.25% for deposits maturing in 6 months, 1 day to 9 months, and 5.50% for deposits maturing in 9 months, 1 day to 1 yr.

    On deposits maturing in 1 yr 1 day to fifteen months, HDFC Bank will proceed to supply an rate of interest of 6.10% however on these maturing in 15 months 1 day to 18 months, the financial institution has hiked the rate of interest from 6.15% to six.40% a hike of 25 bps. Deposits maturing in 18 months to 2 years will now provide an rate of interest of 6.50% a hike of 35 bps from 6.15% earlier. On deposits maturing in 2 years, 1 day to five years, HDFC Bank elevated the rate of interest by 25 foundation factors (bps), from 6.25% to six.50%, and on deposits maturing in 5 years, 1 day to 10 years, the financial institution elevated the rate of interest by 5 bps, from 6.20% to six.25%.

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    HDFC Bank FD Rates (hdfcbank.com)

    Senior residents can obtain 50 bps extra curiosity than the usual price on deposits that mature inside 7 days to five years from HDFC Bank. HDFC Bank presents a particular fastened deposit named “Senior Citizen Care FD” that comes with a tenure of 5 years 1 day to 10 years. Senior Citizens will obtain a further premium of 0.25% over and above the prevailing premium of 0.50%. However, the HDFC Bank’s Senior Citizen Care FD is legitimate until March 31, 2023. The financial institution presents a daily price of 6.25% on FDs maturing in 5 years, 1 day to 10 years, however senior residents will obtain an rate of interest of seven.00%, which is 75 foundation factors increased than the usual price supplied below the particular FD programme of HDFC Bank.

    “Only Senior Citizens / Retired Personnel (60 years and above) who’re Resident Individuals are eligible. The particular charges are relevant just for Resident deposits,” talked about HDFC Bank on its web site.

    HDFC Bank RD Rates

    The rate of interest on recurring deposits (RDs) maturing in 15 to 120 months has additionally been revised by HDFC Bank. On the mentioned tenor slab, the financial institution is now providing an rate of interest starting from 6.40% to six.25% for most of the people and 6.90% to 7.00% for senior residents. The financial institution now provides a most rate of interest of 6.50% on RDs maturing in 24 months to 60 months to most of the people, whereas HDFC Bank now presents a most rate of interest of seven% to senior residents on RDs maturing in 24 months to 120 months.

    View Full Image

    HDFC Bank RD Rates (hdfcbank.com)

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  • World Senior Citizens Day: 5 particular fastened deposits to wager in 2022

    The twenty first of August is recognised as World Senior Citizens’ Day yearly. The day is well known for senior residents to honour their life’s journey and well-being, however as well as, to mark their enlightenment, consciousness, and expertise, monetary freedom is an important think about previous age and ought to be taken under consideration to make their golden years extra peaceable. Because they embody assured returns, fastened deposits are the preferred funding alternative for older adults. However, within the present context of rising rates of interest, fastened deposits have regained their former glory, and banks are dashing to boost fastened deposit charges on account of the repo fee hike. Therefore, in honour of World Senior Citizens Day, listed below are 5 particular fastened deposit plans for older adults that can enable them to earn increased rates of interest.

    SBI Wecare Fixed Deposit

    The largest lender within the nation, SBI gives a particular fastened deposit plan known as the “SBI Wecare” Deposit for older individuals. The financial institution permits older people to deposit as much as ₹2 Cr underneath this accretion plan, which has a length of 5 years and above. The financial institution ensures an rate of interest of 5.65% for the aforementioned tenure for most people, whereas aged individuals will obtain an rate of interest of 6.45%, which is 80 foundation factors greater than the usual fee. Senior of us can apply for the scheme quickly, as it’ll expire subsequent month.

    State Bank of India has talked about on its web site that “A particular “ SBI Wecare” Deposit for Senior Citizens introduced in the Retail TD segment wherein an additional premium of 30 bps (over & above the existing 50 bps as detailed in the above table) will be paid to Senior Citizen’s on their retail TD for ‘5 Years and above’ tenor only. “SBI Wecare” deposit scheme stands extended upto 30th September, 2022.”

    HDFC Bank Senior Citizen Care FD

    Senior Citizen Care FD, a particular fastened deposit programme that provides senior individuals higher rates of interest, was launched by HDFC Bank on May 18, 2020. The financial institution permits aged individuals to deposit as much as 5 crores underneath this particular fastened deposit scheme, for which they’d obtain an extra 75 foundation factors in return. The time period of this fastened deposit is 5 years and 1 day to 10 years. For the aforementioned interval, HDFC Bank ensures an rate of interest of 5.75% to most people, nonetheless senior residents will obtain a fee of 6.50%, which is 0.25% greater than the already-existing extra rate of interest advantage of 0.50%.

    HDFC Bank has talked about on its web site that “An Additional Premium of 0.25% (over and above the present premium of 0.50%) shall be given to Senior Citizens who want to e book the Fixed Deposit lower than 5 crores for a tenure of 5 (5) years One Day to 10 Years, throughout particular deposit supply commencing from 18th May’20 to thirtieth Sep’2022. This particular supply will probably be relevant to new Fixed Deposit booked in addition to for the Renewals, by Senior Citizens throughout the above interval. This supply just isn’t relevant to Non-Resident Indian.”

    ICICI Bank Golden Years FD

    A special fixed deposit programme offered by the ICICI Bank to older individuals is called the “Golden Years FD.” ICICI Bank permits elderly individuals to invest up to ₹2 Cr in this scheme, which has a maturity term of 5 years and 1 day, up to 10 years. Senior citizens receive an interest rate of 6.60% on the aforementioned tenure from ICICI Bank, which is 70 basis points more than the standard rate offered to non-senior citizens at a rate of 5.90%. ICICI Bank Golden Years FD is valid till October 07th, 2022 and during the duration of the scheme, a higher rate will be offered on newly made deposits as well as renewal deposits. 

    “Resident Senior Citizen customers will get an additional interest rate on an FD of 0.20% for a limited time over and above the existing additional rate of 0.50% per annum,” mentioned ICICI Bank on its web site. ICICI Bank Golden Years FD can be prematurely withdrawn, however the financial institution will cost a penalty. ICICI Bank has talked about on its web site that “In case a Fixed Deposit is opened and the above scheme is prematurely withdrawn/closed after, on or after 5 years 1 day, the relevant penal fee will probably be 1.20%. In case the deposit opened within the above scheme is prematurely withdrawn/closed earlier than 5 years 1 day, the prevailing untimely withdrawal coverage will probably be relevant (embody key phrase ‘premature withdrawal on FD’).”

    IDBI Naman Senior Citizen Deposit

    A special fixed deposit programme for elderly persons called the “Naman Senior Citizen Deposit” was launched by IDBI Bank on April 20, 2022. The plan has maturity phrases starting from greater than a yr to 10 years. Senior citizen residents who’re 60 years of age and over will obtain an extra rate of interest of 0.25% over and above the present extra fee of 0.50% yearly, which ends up in a complete rate of interest advantage of 0.75% over the usual fee. The increased fee will probably be out there on newly made deposits in addition to these renewed throughout the plan time period, which runs till September 30, 2022. Non-senior people will earn 5.35% curiosity on fastened deposits maturing in 1 to 18 months, whereas senior individuals will obtain 6.10% curiosity. 

    IDBI Bank offers most people an rate of interest of 5.40% on fastened deposits maturing in 18 months to 30 months, however senior residents will obtain 6.15%. For fastened deposits maturing in 30 months to three years, most people will obtain an rate of interest of 5.50% and senior residents will obtain an rate of interest of 6.25%. For fastened deposits maturing in 3 years to five years, most people will obtain an rate of interest of 5.60% and senior residents will obtain an rate of interest of 6.35%. For fastened deposits that mature in 5 to 10 years, IDBI Bank pays non-senior residents an rate of interest of 5.75% and senior residents an rate of interest of 6.50%. All of those tenors and the associated rates of interest display how older folks can profit from IDBI Bank’s Naman Senior Citizen Deposit.

    RBL Bank Super Senior Citizen Fixed Deposits

    RBL Bank has launched the Super Senior Citizen Fixed Deposits Product in honour of International Senior Citizens Day. Only tremendous senior residents 80 years of age or above are eligible for this programme, which affords an extra 0.75% annual rate of interest on fastened deposits maturing in 15 months. RBL Bank gives non-senior residents with an rate of interest of seven.00% on fastened deposits of 15 months, whereas tremendous senior residents will obtain an rate of interest of seven.75%, which is 75 foundation factors increased than the usual fee. Super Senior Citizens, in line with RBL Bank, can register this fastened deposit by the financial institution’s web site, RBL MoBank App, web banking, Contact Center, and free doorstep banking companies.

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  • Senior residents particular FD scheme: Latest charges of SBI, ICICI Bank, HDFC Bank

    Senior residents particular FD scheme: State Bank of India (SBI), HDFC Bank and ICICI Bank are offering larger rates of interest on mounted deposits to senior residents. This particular FD scheme was launched in May 2020 to supply some aid to senior residents amid falling rates of interest because of the novel coronavirus pandemic.

    HDFC Bank Senior Citizen Care FD 

    An extra premium of 0.25% (over and above the prevailing premium of 0.50%) shall be given to Senior Citizens who want to ebook the Fixed Deposit lower than 5 crores for a tenure of 5 years in the future to 10 years, throughout particular deposit provide commencing from 18th May’20 to thirty first Mar’22. This particular provide will probably be relevant to new mounted deposits booked in addition to for the renewals, by Senior Citizens in the course of the above interval. 

    HDFC Bank particular FD scheme for senior residents rate of interest

    If a senior citizen places a hard and fast deposit underneath HDFC Bank Senior Citizen Care FD, then the rate of interest relevant to the FD will probably be 6.25%.

    ICICI Bank Golden Year FD

    Resident Senior citizen prospects will get an extra rate of interest of 0.20% for a restricted time over and above the prevailing extra fee of 0.50% each year. The extra fee will probably be accessible on recent deposits opened in addition to deposits renewed in the course of the scheme interval.

    Eligible FD tenure: 5 years 1 day as much as 10 years

    Applicable period: twentieth May 2020 to 08th April 2022

    Applicable on single FD of quantity < 2cr

    ICICI Bank particular FD scheme for senior residents rate of interest

     ICICI Bank Golden Year FD scheme will give 6.30% each year.

    SBI Wecare Deposit for Senior Citizens

    A particular “ SBI Wecare” Deposit for Senior Citizens introduced in the Retail TD segment wherein an additional premium of 30 bps (over & above the existing 50 bps as detailed in the above table) will be paid to Senior Citizen’s on their retail TD for ‘5 Years and above’ tenor only. “SBI Wecare” deposit scheme stands prolonged until thirty first March 2022

    SBI particular FD scheme for senior residents rate of interest

    If a senior citizen places a hard and fast deposit underneath the particular FD scheme, then the rate of interest relevant to the FD will probably be 6.20%.

     

     

     

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  • Senior residents particular FD scheme of SBI, HDFC Bank, ICICI, BoB ends this month

    Senior residents particular fastened deposit scheme had been launched amid the Covid-19 pandemic in May final 12 months. These deposits had been launched for a brief time frame. The common FD schemes supply a further 50 foundation factors (bps) to senior residents, the particular FD scheme offers a further charge of curiosity on prime of that. State Bank of India (SBI), HDFC Bank, ICICI Bank and Bank of Baroda supply these particular FD to senior residents, which can finish on 30 June,

    SBI particular FD scheme for senior residents

    SBI particular FD scheme for senior residents -‘Wecare Deposit’- fetches 80 foundation factors (bps) rate of interest above the speed relevant to most of the people. SBI ‘Wecare Deposit’ will give 6.20% curiosity. These charges are relevant from 8 January 2021.

    HDFC Bank particular FD scheme for senior residents

    HDFC Bank particular FD scheme for senior residents -Senior Citizen Care FD offers a 75 bps increased rate of interest to them. HDFC Bank Senior Citizen Care FD will give 6.25% curiosity. These charges are relevant from 21 May 2021.

    ICICI Bank particular FD scheme for senior residents

    ICICI Bank particular FD scheme for senior residents -ICICI Bank Golden Years FD scheme -offers an 80 bps increased rate of interest. ICICI Bank Golden Years FD scheme will give 6.30% every year. These charges are relevant from 21 October 2021.

    Bank of Baroda particular FD scheme for senior residents

    Bank of Baroda (BoB) presents 100 bps increased on these deposits to senior residents. These deposits will fetch them 6.25 per cent. These charges are relevant from 16 November 2021.

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  • Special FD scheme for senior residents prolonged until June-end. Check particulars right here

    Special mounted deposit (FD) schemes for senior residents have been prolonged until 30 June 2021. In May 2020, amid the Covid-19 pandemic and falling rates of interest, some banks like State Bank of India (SBI), HDFC, ICICI and Bank of Baroda (BoB) had launched particular FD schemes for senior residents for the tenure of 5 years and extra. A senior citizen trying to make investments for the long run in a financial institution FD can now accomplish that until 30 June 2021 as all these banks have prolonged it.

    The common FD schemes provide a further 50 foundation factors (bps) to senior residents, the particular FD scheme present a further price of curiosity on high of that and is relevant on both- contemporary deposits in addition to deposits renewed.

    Also Read | Ripple results of the warehousing growth

    State Bank of India (SBI)

    SBI ‘Wecare Deposit’ particular FD scheme for senior residents will fetch 80 foundation factors (bps) rate of interest above the speed relevant to most of the people. At current, SBI provides 5.4% rate of interest on 5 years FD for most of the people. If a senior citizen places a hard and fast deposit underneath the particular FD scheme, then rate of interest relevant to the FD might be 6.20%.

    HDFC Bank

    Senior Citizen Care FD particular FD scheme supplied by HDFC Bank provides 75 bps larger rate of interest on these deposits. If a senior citizen places a hard and fast deposit underneath HDFC Bank Senior Citizen Care FD, then rate of interest relevant to the FD might be 6.25%.

    ICICI Bank

    ICICI Bank provides 80 bps larger rate of interest on these deposits. ICICI Bank Golden Years FD scheme provides senior residents an rate of interest of 6.30% every year.

    Bank of Baroda

    Bank of Baroda (BoB) provides 100 bps larger on these deposits to senior residents. Under the particular FD scheme (above 5 years to as much as 10 years), if a senior citizen places a hard and fast deposit, then the rate of interest relevant to the FD might be 6.25 per cent.

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  • HDFC Bank particular mounted deposit scheme for senior residents prolonged

    Private sector lender HDFC Bank particular mounted deposit scheme for senior residents has been prolonged for the third time. The financial institution provides a particular mounted deposit (FD) scheme for senior residents referred to as the Senior Citizen Care FD scheme. The financial institution provides greater rates of interest on these particular FDs for senior residents. The particular FD supply for senior residents was made accessible for funding from 18 May 2020 amid the falling rates of interest through the coronavirus pandemic.

    HDFC Bank Senior Citizen Care FD rate of interest

    HDFC Bank provides 75 foundation factors (bps) greater rate of interest on these deposits. If a senior citizen places a hard and fast deposit underneath HDFC Bank Senior Citizen Care FD, then the rate of interest relevant to the FD will probably be 6.25%. These charges are relevant from 13 November 2020.

    “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 crore for a tenure of 5 years one day to 10 years, during special deposit offer commencing from 18th May’20 to 30th Jun’21,” HDFC financial institution famous on its web site.

    In case of untimely closure of FD booked underneath HDFC Bank Senior Citizen Care FD scheme supply (together with a sweep in / partial closure) put up 5 years, the rate of interest will probably be 1.25% beneath the contracted charge or the bottom charge relevant for the interval the deposit has remained with the financial institution, whichever is decrease. In case of untimely closure of time period deposit booked within the above supply (together with a sweep in / partial closure) prior to five years, the rate of interest will probably be 1.00% beneath the contracted charge or the bottom charge relevant for the interval the deposit has remained with the financial institution, whichever is decrease.

    HDFC Bank newest FD rates of interest

    HDFC Bank provides a 2.50% rate of interest on deposits between 7 days and 29 days, and three % on deposits maturing in 30-90 days. On 91 days to six months, 3.5% and on 6 months 1 day to lower than one yr, 4.4%. The financial institution provides 4.9% on FDs maturing in a single yr. Term deposits maturing in a single yr and two years will fetch an rate of interest of 4.9%. FDs maturing in 2 years to three years will give 5.15%, 3 years to five years will give 5.30%. Deposits with a maturity interval of 5 years to 10 years will give 5.50% curiosity. These charges are efficient from 13 November.

    Earlier, the State Bank of India (SBI) prolonged the scheme until 30 June 2021. At current, SBI provides a 5.4% rate of interest on 5 years FD for most of the people. If a senior citizen places a hard and fast deposit underneath the particular FD scheme, then the rate of interest relevant to the FD will probably be 6.20%.

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  • Senior residents particular FD scheme of HDFC Bank, ICICI, BoB ends subsequent week

    Top lenders like State Bank of India (SBI), HDFC Bank, ICICI Bank and Bank of Baroda (BoB) provide additional rates of interest over the prevailing charges on fastened deposits (FD) relevant for senior residents. Amid the Covid-19 pandemic, this particular FD scheme was launched in May final yr. The scheme was prolonged twice. As per the knowledge accessible on the web site of HDFC Bank, ICICI and BoB, the particular scheme for senior residents will finish on 31 March. However, SBI has additional prolonged it until 30 June 2021.

    HDFC Bank particular FD scheme for senior residents

    HDFC Bank particular FD scheme for senior residents known as HDFC Senior Citizen Care. The financial institution gives a 75 bps greater rate of interest on these deposits. If a senior citizen places a hard and fast deposit beneath HDFC Bank Senior Citizen Care FD, then the rate of interest relevant to the FD will probably be 6.25%. These charges are relevant from 13 November.

    Also Read | Lessons from India’s tryst with lockdown

    ICICI Bank particular FD scheme for senior residents

    ICICI Bank particular FD scheme for senior residents known as ICICI Bank Golden Years. The financial institution gives an 80 bps greater rate of interest on these deposits. ICICI Bank Golden Years FD scheme gives senior residents an rate of interest of 6.30% every year. 6.30%. These charges are efficient 21 October.

    Bank of Baroda particular FD scheme for senior residents

    Bank of Baroda gives 100 bps greater on these deposits to senior residents. If a senior citizen places a hard and fast deposit beneath the particular FD scheme (above 5 years to as much as 10 years), then the rate of interest relevant to the FD will probably be 6.25%. These charges are efficient from 16 November.

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  • Senior residents particular FD scheme of SBI, HDFC Bank, ICICI, BoB ends this month

    Senior residents particular mounted deposit (FD) schemes are supplied by high lenders. Under this scheme, further rates of interest are being supplied by these banks over the prevailing charges relevant for them on time period deposits. Amid the coronavirus pandemic, this particular FD scheme was launched in May to safeguard the pursuits of senior residents because the rates of interest had been falling quickly. This particular FD scheme is out there for senior residents until 31 March 2021. SBI particular FD scheme for senior residents SBI particular FD scheme for senior residents will fetch 80 foundation factors (bps) rate of interest above the speed relevant to most of the people. At current, SBI provides a 5.4% rate of interest on 5 years FD for most of the people. If a senior citizen places a hard and fast deposit below the particular FD scheme, then the rate of interest relevant to the FD will probably be 6.20%. Also Read | India’s vaccine rollout adjustments gears HDFC Bank particular FD scheme for senior residents HDFC Bank affords a 75 bps greater rate of interest on these deposits. If a senior citizen places a hard and fast deposit below HDFC Bank Senior Citizen Care FD, then the rate of interest relevant to the FD will probably be 6.25%. ICICI Bank particular FD scheme for senior residents ICICI Bank affords an 80 bps greater rate of interest on these deposits. ICICI Bank Golden Years FD scheme affords senior residents an rate of interest of 6.30% each year. 6.30%. Bank of Baroda particular FD scheme for senior residents Bank of Baroda (BoB) affords 100 bps greater on these deposits to senior residents. Under the particular FD scheme (above 5 years to as much as 10 years), if a senior citizen places a hard and fast deposit, then the rate of interest relevant to the FD will probably be 6.25 per cent. Subscribe to Mint Newsletters * Enter a sound e mail * Thank you for subscribing to our e-newsletter.