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Product Details
Bank Name

CSB Bank

Eligibility

All senior citizens 60 plus, excluding NRIs are eligible.

Joint Account permitted

Interest Rate

3.00% - 7.50%

Tenure

Minimum Period of Deposit - 6 months

Fixed Deposit Type

Senior

Acharya Deposits

Acharya Deposits

Tax Benefits

No 

Credit Ratings

CRISIL A1+

Interest Payment Frequency

Interest is paid quarterly at the full value of interest. The same is paid monthly at the discounted value of interest.

Cummulative/Non-Cummulative

Cumulative

Features

Minimum Amount of Deposit - Rs 5,000/- Minimum Period of Deposit - 6 months Eligibility : All senior citizens 60 plus, excluding NRIs are eligible.

Minimum Investment Amount

Minimum Amount of Deposit - Rs 5,000/-

Fees and Charges
Pros
  • Higher Interest Rates

  • Safe and Secure

  • Flexible Tenure Options

  • Regular Income Option

Cons
  • Limited Liquidity

  • No Online Application

Pros & Cons
Account Opening and Procedure
How to Open?
  • Visit a CSB Bank Branch:This is the most common way.
    Find your nearest CSB Bank branch using their branch locator https://www.cs.bank/.
    Once at the branch, inform the representative that you want to open an "Acharya Deposit" account.
    You'll likely be provided a specific application form for this scheme.
    Fill out the form with your details including name, address, contact information, PAN, nominee details, etc.
    Since this is a senior citizen scheme, be prepared to show proof that you're above 60 years old (senior citizen ID card or other documents).
    Choose your deposit amount (minimum Rs. 5,000) and tenure (ranging from 6 months to 10 months).
    Decide how you want to receive interest payouts (monthly, quarterly, or on maturity).
    Submit the completed form along with the required documents and your deposit amount (cash or cheque).
    The bank will verify your documents and provide you with an account opening confirmation.

  • Net Banking (for existing CSB Bank customers):CSB Bank's website doesn't explicitly mention online applications for the Acharya Deposit scheme.  However, existing CSB Bank customers can sometimes open FDs through Net Banking.
    Check the CSB Bank website https://www.cs.bank/ for their Net Banking login and see if there's an option for Fixed Deposits or a similar section.
    If an online FD option exists, look for "Acharya Deposit" or a similar senior citizen scheme during the application process.
    If you don't see an Acharya Deposit option online or are unsure, it's best to visit a branch directly.

Application Procedure

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