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  #2  
16th October 2012, 07:01 PM
Super Moderator
 
Join Date: May 2012
Re: Indian Bank Interest Rates for Senior Citizen

I am giving the details of special deposit scheme for senior citizens given by Indian Bank for your reference. The interest is calculated quarterly and the amount varies from Rs 1000/- to Rs. 50000000/-. The period of the deposit is from 15 days to 10 years.
Free funds transfer upto Rs.5000 p.m or interest earned whichever is higher
Additional rate of 0.75% p.a is payable for 15 days to 10 years
Automatic renewal facility for equal period
Age proof for having completed 60 years
Joint accounts permitted but first named persons should be senior citizen
Loan, Foreclosue, Nomination etc are available
Suitable for senior citizens with additional rate of interest and value additions
Minimum penalty on foreclosure of deposits
  #3  
28th December 2015, 01:30 PM
Unregistered
Guest
 
Re: Indian Bank Interest Rates for Senior Citizen

Hello sir, will you please tell me what is the interest rate for the senior citizen in Indian bank/ provide me detail of require document and rules for the scheme?
  #4  
28th December 2015, 01:31 PM
Super Moderator
 
Join Date: Apr 2013
Re: Indian Bank Interest Rates for Senior Citizen

Indian bank provides special scheme for the Senior Citizen. They may apply for this scheme by visiting at Indian bank.


Here I’m providing you detail about the interest rate for senior citizen in Indian bank.

Interest Application : Quarterly
Min Amt : Minimum amount Rs.1000/-
Maximum amount – Rs. 50000000/-
Min Period : 15 days to 10 years


Other Requirements/Details:


Suitable for senior citizens with additional rate of interest and value additions

Age proof for having completed 60 years

Free funds transfer upto Rs.5000 p.m or interest earned whichever is higher

Automatic renewal facility for equal period

Loan, Foreclosue, Nomination etc are available

Minimum penalty on foreclosure of deposits

Joint accounts permitted but first named persons should be senior citizens

Interest rate:

DOMESTIC DEPOSITS (Also applicable for NRO Accounts)

Interest rate on Domestic Deposits w.e.f 11th November 2015
Period Single Deposit less than Rs.100.00 lacs
General Senior Citizens*
7 days to 45 days 4.00% 4.50%
46 days to 90 days 7.00% 7.50%
91 days to less than 1 year 7.10% 7.60%
1 year 7.70% 8.20%
Above 1 year to 3 years 7.60% 8.10%
Above 3 years up to and incl.10 years7.50% 8.00%
Tax Gain 7.50% 8.00%


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