Country's largest lender State Bank of India (SBI), and private lenders HDFC Bank, and ICICI Bank have recently launched special fixed deposit (FD) schemes for senior citizens.
This has been done to safeguard the interests of senior citizens as the interest rates are falling rapidly, the economy is is in a bad shape due to the coronavirus pandemic which has affected the entire world.
SBI was the first bank to announce a special FD scheme for senior citizens called SBI We Care. Following the lead, HDFC Bank also announced a similar deposit scheme known as HDFC Senior Citizen Care FD.
Likewise, ICICI Bank too came with a special term deposit scheme for senior citizens under the name of ICICI Bank Golden Years. Some of the common features of