Features
| Eligibility | · Individual(singly or jointly)with others.
· This scheme is only applicable for the age of 55 years and above up to 60 years. · Illiterate and blind persons can also open the account under this scheme. · Any prospective depositor has to attain the status of Senior Citizen during currency of deposit. |
| Minimum Deposit | · Minimum deposit to be made is Rs 100, afterward in multiples of Re 1.
· The maximum amount permitted to a senior citizen under this scheme is Rs 99.99 lacs. |
| Rate of Interest | The rate of interest would be CARD rates |
| Additional Interest | The additional interest is applicable on the attainment of the status of Senior Citizen. |
| Tenure | A minimum year of 1 year and the maximum time period is 10 years even for the incomplete quarter. |
| Loan/Overdraft Facility | Available |
| Nomination Facility | Available |
| TDS | TDS is applicable as per rules. The bank will issue TDS certificate of the tax deducted. |
