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.
At present, the bank is offering interest rates ranging from 3 per cent to 7.25 per cent for general customers for FD deposits maturing in 7 days to 10 years.
Amid rising interest rate regimes some banks are providing special fixed deposits (FDs) with irregular tenors of days rather than months or years that effectively guarantee higher interest rates than traditional FDs.