HDFC Special Fixed Deposit: Deadline extended AGAIN – Details

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Did you miss out on HDFC’s special FD? Don’t worry, HDFC Bank has extended the last date to invest in its senior citizens-only special fixed deposit scheme. Launched in 2020, this special Senior Citizen Care FD offers higher interest rate benefits for senior citizens. Let’s learn more about this scheme.

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HDFC Bank’s Senior Citizen Care FD:

HDFC’s Senior Citizen Care FD offers higher interest rates. Furthermore, in addition to the existing premium of 0.5% over the regular FD rate, this FD offers an extra 0.25% premium.

The total additional rate of 0.75% is applicable to the special offer from May 18, 2020, to May 2, 2024.

This scheme is available to depositors who wish to invest amounts below Rs 5 crores.

Last day to invest in HDFC special senior citizen FD

The last date to invest in this special FD plan is May 10, 2024.

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HDFC special senior citizen FD: Age Eligibility

Only residents aged 60 years or older are eligible for the Senior Citizen Care FD, as it is exclusively designed for senior citizens.

Premature Closure:

If you opt for premature closure of this special FD, including sweep in or partial closure, the interest rate will decrease as follows:

If closed prematurely within 5 years, the interest rate will be 1.00% lower than the rate at the time of booking.

If closed after 5 years, the interest rate will be 1.25% lower than the rate at the time of booking.

Quarterly and Monthly Interest Payout:

This offer is applicable to quarterly and monthly interest payouts on fixed deposits of less than Rs 5 crores with a duration of 5 years and 1 day or more. The monthly payout will be at a discounted rate compared to the standard rate.

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Minimum and Maximum Amount:

Investors can deposit a minimum amount of Rs 5000 and a maximum amount of Rs 4,99,99,999.99 (less than Rs 5 crores) in the Senior Citizen Care FD.

Minimum and Maximum Tenure:

The bank offers a minimum tenure of 5 years and 1 day and a maximum tenure of 120 months for the Senior Citizen Care FD.