FD of HDFC vs SBI vs ICICI: Customers of many banks can now get FDs with greater interest rates. These FDs typically have expiration dates, which banks periodically update. The special savings accounts (FDs) offered by major banks such as SBI, HDFC Bank, and IDBI Bank are discussed here. Investors might benefit from increasing interest rates by making timely investments.
HDFC Bank’s Special Senior Citizen Care FD
Seniors can take advantage of a special Fixed Deposit offered by HDFC Bank, the largest private sector bank in India. Up until April 15, 2024, HDFC Bank is able to invest in Senior Citizen Care FD. Rather than 0.50 percent, HDFC Bank is now offering older folks an additional 0.25 percent in interest. Senior folks receive an additional 0.75 percent interest rate from the bank.
The interest on this is a tad more than on a typical FD. Senior folks who have FDs with terms ranging from five to ten years can earn 7.75 percent interest. This rate is offered on savings accounts (FDs) under Rs 5 crore. The Senior Citizen Care FD investment period ends on April 15, 2024. Senior adults can receive interest on regular FDs from HDFC Bank ranging from 3.50% to 7.75%.
SBI WeCare Initiative
The SBI WeCare application deadline has been extended. Senior adults who invest under this SBI initiative would receive higher interest rates for a duration of five to ten years. SBI WeCare was introduced specifically with senior persons in mind.
The original deadline for investing in this SBI programme was March 31, 2024; however, it has now been extended to September 30, 2024. 7.50% is the interest rate available on SBI WeCare. Through its WeCare FD, SBI is providing its clients with the best interest. Senior folks receive 0.50 higher interest on all FDs from the bank than a regular client does.
Extension of Deadline for SBI’s ‘Amrit Kalash’ FD Programme
The deadline for investing in the unique FD programme “Amrit Kalash” has been extended by State Bank of India (SBI). The previous deadline of March 31, 2024, for investing in SBI Bank’s special FD has been extended. Customers now have until September 30, 2024, to participate in this SBI scheme. The 400-day FD known as the SBI “Amrit Kalash” scheme yields interest at a rate of 7.6%. SBI claims that regular people who invest in the Amrit Kalash Special FD Scheme offered by the bank will receive 7.10% interest. 7.60% for senior citizens
ICICI Bank’s Flexible Interest Rates for Deposits
Depending on the length of the deposit, ICICI Bank offers interest rates that are comparable to those of HDFC Bank and SBI, with rates for the general public ranging from 3 to 7 percent and for senior citizens from 3.5 to 7.5 percent.
