two years ago when Fixed deposit (FD) interest rates were at their lowest level, many banks came up with special schemes for this senior citizen with high interest rates. However, these came with a stipulated time frame during which the interested investors had to invest. Senior citizens can lock their money before the last date to avail these special benefits. The interest rates offered on these schemes are above the senior citizen rates.

HDFC bank And IDBI Bank The Special Senior Citizen FD Scheme will be closed on 30th September, 2022. ICICI Bank The special senior citizen FD scheme, called Golden Years FD, will expire on October 7, 2022. State Bank Of India Extended its special senior FD scheme till March 2023.

HDFC Bank Senior Citizen Care FD

According to HDFC Bank website, “An additional premium of 0.25% (over and above the existing premium of 0.50%) will be paid to senior citizens who wish to book fixed deposits of less than ₹ 5 crore for a period of 5 (five) years. From one day to 10 years, during the special deposit offer commencing from 18th May’20 to 30th September’2022. This special offer is applicable for fresh as well as renewal of Fixed Deposits booked by Senior Citizens during the above period This proposal is not applicable to NRIs.’

IDBI Bank Naman Deposit

Senior citizens can now earn 0.75 percent more interest with IDBI Bank Naman Deposit. This offer is valid till 30 September 2022.

ICICI Bank Golden Years FD

According to the ICICI Bank website, “Resident senior citizen customers will get an additional rate of interest on FDs of 0.20% for a limited period of time in addition to the existing additional rate of 0.50% per annum. The additional rate will be applicable for newly opened deposits as well as for the plan period. The scheme is valid till October 07, 2022.