SPECIAL TREATMENT FOR SENIOR CITIZENS
1. All persons of 60 years and above are eligible for the following special treatment at PSB. (For proof of age - School leaving certificate, LIC policy, Voter identity card, Passport or Birth Certificate issued by a competent authority be given/submitted.)
The scheme is not applicable for ex-staff members as they are already getting benefit under staff scheme.
The senior citizen can open Fixed Deposit Account jointly with other person below the age of 60 years but the first name should be of senior citizen. The scheme is applicable for fresh deposit or renewal of deposit.
2. Rate of Interest
a)It has also been decided to give additional benefit to Senior Citizens over and above card rates only on term deposits of any amount as under:-
"The Senior Citizen shall be given as additional rate of 0.50% on any amount over and above the mentioned rates for deposits with maturity period 91 days and above for fresh and renewed deposits."
b)Ex -staff Members are eligible for 1% extra rate of interest, however, please note that if the Ex-Staff Member is also a Senior Citizen, he will also be eligible for additional interest applicable to Senior Citizen shown as above.
The above said addtional benefit given to Senior Citizens has been changed from time to time by HO risk Management Department.
OTHER SPECIAL FACILITIES
In addition to above, the following additional facilities is also given to Senior citizen:
( i ) No service charges to be levied for not maintaining minimum balance in the saving account.
( ii ) Issuance of 3 Demand Drafts upto Rs 5000 each at par per calendar month.
( iii ) Collection of 3 instruments upto Rs.3000/-each at par per calendar month.Only out of pocket expenses to be recovered for offering this facility.