Attention: HDFC Bank's Special Fixed Deposit Scheme Ending On THIS Date

New Delhi: If you're a senior citizen looking for higher returns on your investments, you should know that HDFC Bank, the largest private bank in the country, will be discontinuing its exclusive fixed deposit scheme for seniors on April 15. This means you have a limited time to take advantage of the "Senior Citizen Care FD" scheme before it ends unless the bank announces an extension.

Interest Rates

Under the Senior Citizen Care FD scheme, you can earn returns as high as 7.75 percent on your deposits. This scheme offers an additional 0.75 percent interest over the regular rates. (Also Read: Swiggy Delivery Partner Caught Stealing Shoes in Viral Video, Company Reacts: Watch)

The special interest rate is applicable for deposits made between May 18, 2020, and April 15, 2024, for amounts below Rs 5 crores. (Also Read: HDFC Becomes First Private Bank To Open Branch In Lakshadweep)

Eligibility

To be eligible for the Senior Citizen Care FD, you must be a resident of India aged 60 or older. Both new deposits and renewals within the offer period are accepted under this scheme.

Investment Details

You can invest a minimum of Rs 5000 and a maximum of Rs 4,99,99,999.99 (less than Rs 5 crores) in the Senior Citizen Care FD for a tenure ranging from 5 years and 1 day to 10 years.

Interest Payout

Interest is payable quarterly or monthly on deposits below Rs 5 crores with a minimum tenure of five years and one day. It's important to note that this scheme is applicable only for fixed deposits, not recurring deposits.