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Home >> Deposit Schemes >> Varishtha Samman
Varishtha Samman

VARISHTHA SAMMAN DEPOSIT SCHEME

 

  • Varishtha Samman Deposit Scheme was launched on 05.04.2011 for future senior citizens in the age group of more than 50 Years and below 60 years of age. It was a unique deposit scheme pioneered by our Bank.
  • On the date of completion of 60 years of age, the deposit will automatically earn additional rate of interest of 0.50% over and above the contracted ROI without customer requesting for it.
  • Interest rate of Deposit for the scheme on Varishtha Samman Deposit Scheme has been revised w.e.f. 03.05.2017.
  • Minimum period of deposit for the scheme is 3 years.

 

Slab

Period

 

For General Public

For Staff & Ex- staff

Less

than Rs. 1 crore

03 Years to

 

Less  than  5

Years

At the time of Deposit

6.50% p.a.

6.50%+1.00%

 

=7.50%

After attaining

 

60 Years of age

6.50% + 0.50%*=

7.00% p.a.

6.50%+0.50%*+

1.00% = 8.00%

 

 

 

Less than

Rs. 1 crore

 

 

05 Years to

 

Less than 10

Years

At the time of

Deposit

6.50 %p.a.

6.50%+1.00%

 

=7.50%

After attaining

 

60 Years of age

6.50% + 0.50%

=7.00% p.a.

6.50%+0.50%*+

1.00% = 8.00%

 

  • All other terms and conditions shall remain unchanged.
  • Additional ROI payable to Senior Citizen as will be applicable on the date of attaining 60 years of age.