SPECIAL DEPOSIT SCHEME FOR SENIOR CITIZENS

•           Persons of more than 60 years are called Senior Citizens.

•           Their date of birth is to be verified at the time of opening of new a/c or at the time of renewal of deposit. Subsequent verification is not required.

•           Documents from which the date of birth will be verified are SLC, LIC policy, Vote Identity Card, PPO.Birth certificate, Passport or Any other document acceptable to bank.

•           Incentive on rate of interest on FDR on or after 14.05.2001 or renewal after 14.05.2001 is available ( as per ROI= rate of interest, issued time to time)

•           For staff & ex-staff, Staff & ex staff senior citizen for TDR >180days it is 1.0 &1.25 respectively.

•           Incase of ex staff senior citizen –INCENTIVE RATE- shall be equal to his terminal benefits + Rs.10 lacs.

•           Event of death of senior citizen the deposit automatic transfers to nominee

•           No penal interest will be levied for premature with drawl of TDR on applicable interest rate.

•           Free remittance facility is available up to Rs5000/- with out any commission provided the remittance is routed through the SB/Current a/c of the senior citizen.