Product Details
Bank Name
Karur Vysya Bank
Eligibility
60 Years
For the age group
Interest Rate
6.65% - 7.65%
Tenure
1 year to 10 years
Fixed Deposit Type
Senior Citizens
Senior Citizen Deposits
Tax Benefits
No
Credit Ratings
[ICRA]A+
Interest Payment Frequency
(Half-yearly / Quarterly / Monthly
Cummulative/Non-Cummulative
Both
Features
Resident Indians who have completed 60 years of age are eligible to deposit. Both cumulative and non-cumulative options are available. Deposits are eligible for preferential interest rates for maturity period of one & above and up to five years. Loan available on deposit. Premature closure is allowed, subject to the applicable norms.
Minimum Investment Amount
The minimum amount that can be invested is Rs. 100/- and there is no restriction on the maximum amount.
Fees and Charges
Pros
Both cumulative and non-cumulative options are available.
Deposits are eligible for preferential interest rates for maturity period of one & above and up to five years.
Loan available on deposit.
Premature closure is allowed, subject to the applicable norms.
Cons
Lower Liquidity
Pros & Cons
Account Opening and Procedure
How to Open?
You can open one by visiting your nearest Karur Vysya Bank branch
Application Procedure
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