Banks offer special fixed deposit schemes for senior citizens with higher interest rates, but the last date keeps changing. SBI, HDFC, and ICICI are among the banks offering these schemes
The HDFC Bank has launched a special FD scheme with an additional premium of 25 bps (over and above the existing premium of 50 bps) to senior citizens on a tenure of 5 years 1 day to 10 years.
Bank fixed deposits which offer 0.50-0.75% higher interest to senior citizens and Senior Citizens Savings Scheme (SCSS) offered by the government are very popular choices for senior citizens.
ICICI Bank Golden Years FD scheme: Resident senior citizens get the convenience of higher interest rate on FDs with a tenure of 5 years 1 days to 10 years.