Interest Rates for Senior Citizens :

1. Eligibility Criteria
A person who has completed the age of 60 years may be treated as a senior citizen for getting the benefit under the special deposit scheme for senior citizens.

2. Verification of Age :
Opening of New Account
At the time of opening of a new deposit account of a senior citizen, the branch should satisfy about the age through verification of any of the following documents:-

Secondary School Leaving Certificate indicating date of Birth
LIC Policy
Voters Identity Card
Pension Payment Order
Birth Certificate issued by the competent authority
Passport
PAN Card

Domestic term Deposits (Senior Citizen Category) :

Maturity Period	Interest rates* (per cent per annum) w.e.f. 17.11.04
	Single Deposit from Senior Citizens
	Less than Rs.1.5 mn	Annualized yield at the begining of the slab	Rs.1.5 mn& above but less than Rs.10.0 mn	Annualized yield at the beginning of the slab
7-14 days	N.A.	N.A.	4.25%	4.25%
15-45 days	3.50%	3.50%	4.50%	4.50%
46 to 60 days	3.75%	3.75%	5.00%	5.00%
61 to 90 days	4.00%	4.00%	5.00%	5.00%
91 days & above upto  180 days	5.00%	5.00%	5.25%	5.25%
181 days & above  upto 1 year	5.50%	5.54%	5.50%	5.54%
More than 1 year  upto  3 years	6.00%	6.14%	6.00%	6.14%
More than 3 years  upto 5 years	6.25%	6.82%	6.25%	6.82%
More than 5 years  upto 10 years	6.75%	7.95%	6.75%	7.95%

*Subject to revision without prior notice.
Note: Interest rates for remaining tenors and amounts will be the same as the domestic term deposits (General Category).

 

  Interest Rates for NRI Schemes