HDFC Bank Special FD: The final date of HDFC Bank’s Special Fixed Deposit (FD) scheme is nearly right here and it will likely be closed tomorrow i.e. on July 7, 2023. This particular FD scheme is definitely for senior residents, whose identify is Senior Citizen Care. According to the web site of HDFC Bank, it has been given extension many instances and now it’s being closed. Therefore, if you wish to get extra curiosity in FD as a senior citizen, then there’s a likelihood to put money into it until tomorrow solely.

Know Senior Citizen Care FD Scheme

Under Senior Citizen Care FD, senior residents get the next rate of interest of 0.75% on their time period deposits. This scheme was launched on 18 May 2020 and eligible buyers can make investments cash in it for five years 1 day to 10 years. Under this particular FD scheme, clients get increased curiosity on newly booked FDs until their renewal and so they can avail increased curiosity for the desired time interval. Although this particular FD scheme shouldn’t be for non-resident Indians.

What is its rates of interest

According to the HDFC Bank web site, senior residents are already getting 0.50 per cent extra curiosity and on this senior citizen care scheme, they get a further curiosity of 0.25 per cent. Accordingly, senior residents get 0.75 p.c extra curiosity on this particular FD, the rate of interest of this scheme is at 7.75 p.c. This is for time period deposits of lower than Rs 5 crore and its timeframe ranges from 5 years 1 day to 10 years. This scheme is just from 18th May 2020 to seventh July 2023 and solely senior residents who’ve opened particular FDs below this can get this elevated curiosity.

Know the curiosity of different FD schemes for senior residents of HDFC Bank

Senior residents get 3.50% curiosity on FDs maturing in 7 days to 29 days. HDFC Bank presents 4% curiosity on FDs of 30-45 days, 5% curiosity on FDs starting from 46 days to lower than 6 months. 6.25% curiosity is given by HDFC Bank on FDs starting from 6 months, 1 day to 9 months. At the identical time, 6.50 p.c curiosity is given on FDs starting from 9 months, 1 day to 1 yr, 7.10 p.c curiosity on FDs starting from 1 yr to fifteen months, and seven.60 p.c curiosity on FDs starting from 15 months to lower than 18 months. HDFC Bank offers 7.50% curiosity on FDs starting from 18 months to 4 years 7 months and seven.70% curiosity on FDs starting from 2 years 11 months to 35 months.

Highest curiosity of seven.75% on this FD

The financial institution offers the very best curiosity of seven.75% on FDs starting from 4 years 7 months to 55 months. Senior residents get 7.75 p.c curiosity on FDs starting from 5 years 1 day to 10 years.

If in comparison with the Senior Citizens Savings Scheme of the Post Office, then-

Post Office Senior Citizens Savings Scheme, nevertheless, presents increased curiosity than HDFC’s Special FD scheme. The Senior Citizen Savings Scheme of the Post Office is specifically designed for senior residents. On investing on this scheme, the speed of curiosity is being acquired on the fee of 8.2 p.c. An individual above 60 years can make investments cash in it for five years, which could be prolonged for a most of three years. A minimal funding of Rs 1000 must be made on this and Rs 15 lakh or the cash acquired on the time of retirement, whichever is much less, could be invested most.

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