Which bank has introduced a special fixed deposit scheme for senior citizens which offers an interest rate of 6.55% per annum for deposits up to Rs 2 crores with a tenure of more than 5 years to 10 years?

2020

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	HSBC Bank India
B	ICICI bank
C	Bank of India
D	Union Bank Of India

Explanation:

Detailed explanation-1: -Mumbai: ICICI Bank today announced that it has introduced a special fixed deposit (FD) scheme for senior citizens. Named ‘ICICI Bank Golden Years FD’, the scheme offers senior citizens an interest rate of 6.55% per annum for deposits up to Rs 2 crore with a tenure of more than five years to 10 years.

Detailed explanation-2: -IDBI Bank offers an additional interest rate of 0.25% p.a. over and above the prevailing additional senior citizen fd rates of 0.50% p.a., for tenures of above 1 year to 10 years. The scheme is valid till 31st March 2023.

Detailed explanation-3: -Fincare Small Finance Bank fixed deposit rates On deposits maturing in 59 months 1 day to 66 months, the bank offers an interest rate of 7.25% to senior citizens.

Detailed explanation-4: -What is the FD rate in Axis Bank? Axis Bank FD rates range between 3.5% and 7% for regular citizens and between 3.5% and 7.75% for senior citizens. Axis bank offers an additional 0.5% interest to senior citizens on their FDs.

Detailed explanation-5: -Bank of India offers FD interest rates of 3.00%-6.75% p.a. to regular citizens and 3.00%-7.25% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on Bank of India Tax Saving FDs is 6.00% p.a. for the general public and 6.75% p.a. for senior citizen depositors.

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