HDFC Bank, a private sector lender, announced a special fixed deposit and recurring deposit for older persons on May 18, 2020. The bank launched the "Senior Citizen Care FD" plan with the purpose of offering greater returns to senior residents. The bank created this programme for a limited period and it was meant to expire on March 31, 2022, but according to the bank's official website, it has been extended until September 30, 2022.

Senior citizens who want to earn higher returns by investing for a longer period of time can take advantage of this special scheme, as HDFC Bank will offer an additional 0.25 percent premium over and above the existing 0.50 percent premium to senior citizens who open a fixed deposit of less than Rs 5 Cr with a maturity of 5 (five) years One Day to 10 Years.

Senior people who book a fixed deposit during the offer period, which runs from May 18th, 2020 to September 30th, 2022, will be eligible for this additional advantage. During the specified time period, this unique deposit option will be available for new deposits as well as renewals. This deal is not available to non-resident Indians. HDFC Bank gives a usual rate of 5.60 percent on deposits maturing in 5 years 1 day - 10 years, but elderly persons will receive a rate of 6.35 percent, which is a 0.75 percent increase.

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