Seniors First Savings Account
Seniors First Savings Account
Earn up to
Key Benefits
Premium Classic Debit Card offering complimentary insurance cover up to INR 2.5 lakhs.
Use Billpay to manage your utility bill payments, including those for electricity, telephone, LIC premium, and more. It's easy, convenient, and secure.
To check your savings and/or current account balance on the phone, dial 18004190610 from your registered mobile number.
25% discount on first year locker rentals.
Exclusive health care benefits with our complimentary Medibuddy membership. Free Doorstep banking facility. Free and unlimited IMPS/NEFT/RTGS/ATM transactions.
Classic Debit Card
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Increased daily cap - POS spend limit: INR 1 lakh; ATM withdrawal: INR 50,000.
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Annual fees of just INR 250.
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Various insurance options and advantages up to INR 2.5 lakhs.
***Savings Account Interest Rates
| Daily balance | Rate of Interest (p.a.) Effective from October 30, 2024 |
|---|---|
| Upto INR 1 lakh | 3.50% |
| Above INR 1 lakh upto INR 10 lakh* | 5.50% |
| Above INR 10 lakh upto INR 25 lakh* | 6.00% |
| Above INR 25 lakh and upto INR 3 Crore* | 7.50% |
| Above INR 3 Crore upto INR 7.5 Crore* | 6.50% |
| Above INR 7.5 Crore upto INR 50 Crore* | 6.25% |
| Above INR 50 Crore upto INR 75 Crore* | 5.25% |
| Above INR 75 Crore upto INR 125 Crore* | 7.50% |
| Above INR 125 Crore upto INR 200 Crore* | 6.00% |
| Above INR 200 Crore upto INR 400 Crore* | 4.00% |
| Above INR 400 Crore upto INR 500 Crore* | 6.75% |
| Above INR 500 Crore* | MIBOR** + 1% |
* On daily balances in excess of INR 1 Lakh
With effect from April 1, 2016, the periodicity of payment of interest on Savings Bank Account has been changed to quarterly. Accordingly savings Bank interest calculated on daily product basis will be paid at quarterly intervals on 30th June, 30th September, 31st December & 31st March each year.
**MIBOR is overnight MIBOR rate
To understand the interest calculation with an example click here.
