HDFC Bank offers 75 basis points (bps) higher interest rate on these deposits to senior citizens.
HDFC Bank extended special fixed deposit scheme for senior citizens till June 30, this is the third time the bank has extended this scheme.
The ‘Senior Citizen Care FD scheme’ was launched in May 2020 amid the falling interest rates during the coronavirus pandemic. The bank gives higher interest rates on this special FDs for senior citizens.
Here are HDFC Bank Senior Citizen Care FD interest rate
HDFC Bank provides 75 basis points (bps) higher interest rates on these deposits. The interest rate applicable to the FD will be 6.25 percent if a senior citizen puts a fixed deposit under HDFC Bank Senior Citizen Care FD. These rates are applicable from November 13, 2020.
HDFC bank on its website said “An additional premium of 0.25 percent (over and above the existing premium of 0.50 percent) shall be given to Senior Citizens who wish to book the fixed deposit less than Rs 5 crore for a tenure of 5 years one day to 10 years, during special deposit offer commencing from 18th May’20 to 30th June’21.
HDFC Bank latest FD interest rates
On deposits between 7 days and 29 days, HDFC Bank offers a 2.50 percent interest rate, and 3 percent on deposits maturing in 30-90 days. 3.5 percent interest rate on 91 days to 6 months and 4.4 percent on 6 months 1 day to less than one year.The bank gives 4.9 percent on FDs maturing in one year. An interest rate of 4.9 percent on term deposits maturing in one year and two years. FDs maturing in 2 years to 3 years will give 5.15 percent. 3 years to 5 years will give 5.30 percent. 5.50 percent interest rate on deposits with a maturity period of 5 years to 10 years.