Special FD scheme for senior citizens will end on June 30; avail the benefits now

Senior citizens will not be able to take advantage of this scheme after 30 June 2021. State Bank of India, ICICI Bank, HDFC Bank and Bank of Baroda are offering special interest rates under the scheme.

These special FD schemes were launched in May 2020. Earlier, the window to avail these schemes was open till 31 March 2021, but later it was extended till 30 June 2021.

At BoB, a regular depositor below 60 years of age gets 5.25% interest on FD of 5-10 years. Whereas, senior citizens are being offered 6.25% interest under this special FD scheme.

As of June 30, ICICI Bank held Covid-19 related provision of Rs 6,425 crore.

Gross non-performing assets were at 1.47% of gross advances end June 2021 as against 1.32% end March 2021 and 1.36% in the same quarter last year.