Senior citizens special FD scheme: Top lenders like State Bank of India (SBI), HDFC Bank, ICICI Bank and Bank of Baroda (BoB) offer extra interest rates over the existing rates on fixed deposits (FD) applicable for senior citizens.
The scheme was made available for investment from May. Amid the Covid-19 pandemic, this special FD scheme was introduced to safeguard the interests of senior citizens as the interest rates were falling rapidly.