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As an example, if a person opens a bank repaired deposit out of three-years period from the 6% p.a., the rate will stay an identical until the conclusion away from the three years period. To help you extremely senior citizens (FD depositors aged 80 ages and you will a lot more than) to have tenures of up to five years and you can step one% additional rate of interest to the dumps over 5 years in order to a decade. Such as, senior FD prices offered for the a great tenure out of 15 days so you can lower than 1 . 5 years because of the ICICI Lender is ten bps otherwise 0.10% in addition to the present extra senior FD cost of fifty bps. Of numerous banking institutions, below its special plans and you can/and for certain tenures, give an extra interest out of 0.20% – 0.50% past its senior citizen FD prices. For regular depositors to have tenures anywhere between 1 week so you can 10 years.
